Why XPeng And Li Auto Are Trading Higher Today

XPeng Inc. XPEV and Li Auto Inc. LI shares are trading higher following reports indicating competitor Tesla, Inc. TSLA will recall nearly 300,000 China-made vehicles amid autopilot software issues.

XPeng designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. The stock was trading about 6.3% higher at $44.83 per share at the time of publication. The stock has a 52-week high of $74.49 and a 52-week low of $17.11.

Li Auto, through its subsidiaries, designs, develops, manufactures, and sells smart electric sport utility vehicles in China. The stock was trading about 5.3% higher at $33.37 per share. The stock has a 52-week high of $47.70 and a 52-week low of $14.31.