EV Shares Drop. Li Auto Plummets 13% as Profit Slips; Lucid Falls 5%
EV shares fell on Thursday. Li Auto fell over 13%; Nikola fell nearly 7%; Lucid fell nearly 5%; VinF
Li Auto Inc., a leader in China's new energy vehicle market, announced its unaudited financial results for the third quarter of 2024. The company reported quarterly total revenues of RMB42.9 billion and delivered 152,831 vehicles. The financial highlights include vehicle sales of RMB41.3 billion, gross profit of RMB9.2 billion, and a gross margin of 21.5%. These results represent significant growth compared to the same quarter in 2023.
