Why Li Auto's Stock Is Trading Higher Today

Li Auto Inc. LI shares are trading higher after the company reported a 101.3% year-over-year increase in May deliveries of its Li ONE vehicle.

"Given the strong uptake of the 2021 Li ONE since its launch and the continuous expansion of our direct sales and servicing network, we are optimistic that our deliveries in the second quarter will exceed the top end of our guidance range, and keep rising going forward, while the ongoing industry-wide semiconductor shortage continues to generate uncertainties," said Yanan Shen, co-founder and president of Li Auto.

Li Auto Inc designs, develops, manufactures, and sells smart electric SUVs.

Li Auto's stock was trading 1.1% higher at $24.08 at the time of publication. The stock has a 52-week high of $47.70 and a 52-week low of $14.31.