Autos

Chinese electric car start-up Li Auto expects to sell fewer than Nio

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A Li Xiang One hybrid SUV is on display during the 18th Guangzhou International Automobile Exhibition on November 23, 2020 in Guangzhou, China.

Li Zhihao | Visual China Group | Getty Images

BEIJING — Nasdaq-listed Chinese automaker Li Auto forecast deliveries below that of its competitors for the first quarter.

Li Auto said late Thursday it expected to deliver between 10,500 and 11,500 cars in the first quarter of the year, or fewer than 4,000 vehicles a month. Shares fell 9.8% in the New York trading session amid a broader market sell-off. The stock shed another 3.75% in after-hours trade.

Nio, which competes directly with Li Auto in the high-end SUV market, has delivered more than 7,000…



Source cnbc.com

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