ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Caixin

China's Li Auto shows pulse despite its self-drive tech woes

Chip shortage and COVID cloud brief uptick, as shares still down 33% in 2021

Shares in Li Auto soared on Wednesday despite the Chinese electric automaker announcing a slide back into loss and admitting its self-driving technology is not as good as that of its rivals.

The strong one-day rise indicates that investors see potential in the Nasdaq-listed automaker, which beat expectations but still posted a net loss of 360 million yuan ($56 million) for the first quarter, reversing the 107.5 million yuan net profit it booked in the prior quarter and widening its 77.1 million yuan loss from the same period last year.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more