Li Auto’s Inventory Extends Profits After EV Deliveries More Than Tripled to Record in August

Shares of Li Auto Inc. L,
gained 0.8% in premarket trading on Wednesday, outweighing weakness in its China-based electric vehicle counterparts after the company reported record deliveries in August. The company said it shipped 9,433 Li ONE EVs in August, 248.0% more than a year ago and 9.8% more than in July. the company has now supplied 48,176 Li ONEs so far. The delivery data comes a day after Li shares rose 6.3% after the company reported a surprising second-quarter loss, but sales that beat expectations and delivered a positive outlook. Meanwhile, shares of fellow China-based EV makers Nio Inc. NIO,
declined 4.2% in pre-market trading and XPeng Inc. XPEV,
lost 2.1% after the companies reported deliveries in August, but also reported some delivery issues. The declines come as futures ES00,
for the S&P 500 SPX,
tack at 0.3%.