Chinese Electric-Vehicle Builder Becomes Billionaire By Coming Up With His Own Design [Forbes]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Forbes
Li Xiang, founder of Li Auto (Photo By Qilai Shen/Bloomberg)© 2016 Bloomberg Finance LPChina’s large and competitive electric car market has minted a new billionaire, who is aiming to win over the country’s consumers with vehicles designed to be innovative and affordable.Li Xiang, founder of Beijing-based EV startup Li Auto, saw shares of his company surge almost 50% following its Thursday debut on the Nasdaq. Li Auto raised $1.1 billion by selling 95 million American Depositary Shares at $11.5 apiece, giving the company a market value of $11 billion. Li has a 21.3% stake that give hims a net worth of $2.9 billion.Analysts say Li Auto managed to carve out a place in China’s competitive EV market—which is also the world’s largest—by targeting family users. The company is best known for Li ONE, a six-seat electric SUV that sells for 328,000 yuan ($47,000). To differentiate his vehicles from more established models, such as Tesla’s pure electric cars, Li Xiang developed a system called E
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News
- Li Auto Inc. (NASDAQ: LI) was downgraded by analysts at Barclays PLC from an "overweight" rating to an "equal weight" rating. They now have a $25.00 price target on the stock.MarketBeat
- Chinese EV startup Nio sets starting price for new version of ET7 sedan [Yahoo! Finance]Yahoo! Finance
- Chinese EV startup Nio sets starting price for new version of ET7 sedan [Reuters]Reuters
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Li Auto Inc. - LIGlobeNewswire
- LI LOSS ALERT: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Li Auto Inc. Investors to Inquire About Securities Class Action Investigation - LIPR Newswire
LI
Sec Filings
- 4/23/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/12/24 - Form 6-K
- LI's page on the SEC website