Why Li Auto Rallied Today
LI AUTO(LI) The Motley Fool·2024-08-20 03:47
Bloomberg's forecast for increased "cash for clunkers" subsidies lifted the country's EV sector today.Shares of Chinese electric vehicle maker Li Auto (LI 4.07%) rallied as much as 5.1% on Monday, before reverting to a 4.1% gain as of 1:49 p.m. ET.Though there wasn't much company-specific news, today saw a new report from Bloomberg New Energy Finance suggesting China may materially increase subsidies for its "cash for clunkers" program. That has the potential to spur more new EV sales in China this year, an ...