Li Auto Sinks 20% as Price Wars Cloud Launch of Luxury Model

Stock set to be worst performer on Hang Seng gauge this week
Carmaker unlikely to hit monthly sales target: UOB Kay Hian

Li Auto’s Mega MPV on display at the Guangzhou Auto Show in November 2023.Photographer: Qilai Shen/Bloomberg

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By Charlotte Yang

March 8, 2024 at 12:38 AM UTC

This article is for subscribers only.

A stunning reversal in Li Auto Inc.’s performance signals more pain for the stock is coming as competition in the world’s largest electric vehicle market intensified.

The automaker is set to finish the week at the bottom of the Hang Seng Index, paring most of last week’s 29% rally spurred by its earnings. More doubts over sales growth have resurfaced amid heightened price wars and disappointment over its newly launched battery minivan Mega.