Li Auto Inc LI shares are trading higher by 7.25% at $21.44 after the company reported better-than-expected first-quarter sales results. The company also reported a 334.4% year-over-year increase in vehicle deliveries.
Li Auto reported quarterly losses of 6 cents per share which missed the analyst consensus estimate of a loss of 2 cents per share. Li Auto also reported quarterly sales of $545.68 million which beat the analyst consensus estimate of $522.52 million.
Li Auto designs, develops, manufactures and sells smart electric SUVs. The company's Li ONE, is a six-seat, large electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions.
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