China extends EV tax break; Li Auto shares fall after delivery outlook cut


Li Auto warned that “supply chain constraint” would mean the company will deliver fewer cars than expected in the third quarter. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023 as it looks to spur growth for electric cars.

CFOTO | Future Publishing | Getty Images

Shares of Li Auto fell in pre-market trade in the U.S. on Monday after the Chinese electric carmaker cut its delivery guidance for the third quarter.

Meanwhile, rival electric car companies Nio and Xpeng jumped as Beijing announced an extension of tax breaks for electric car purchases.

Li Auto said that it now expects to deliver 25,500 vehicles in the third quarter down from a previous…


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