China's Li Auto falls on competition concern after new launch

Li Auto

30/07/2025 04:35

** HK shares of Li Auto 2015 drop 11.5% to HK$106.1; set for biggest one-day pct decline since April 7

** Stock top pct loser on Hang Seng Automobile Index .HSAMI and Hang Seng Tech Index .HSTECH

** U.S.-listed stock LI.O fell 6.2% on Tuesday

** Co launches six-seat electric SUV Li i8 in 321,800-369,800 yuan ($44,855-$51,546) range

** Launch pre-emptive strike against Tesla in China as competition escalates in world's largest automotive market, SCMP reports

** Deliveries will begin on August 20

** Fitch says Chinese authorities' intervention to halt prolonged "price war" marks pivotal point for auto sector, likely to suppress near-term demand in Q3 FY25

** Citi says Li i8 priced higher than expected

($1 = 7.1741 Chinese yuan renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))