Li Auto stock is down but not out.Shares of Li Auto (LI -2.22%) have been under pressure following a string of weaker-than-expected updates from the Chinese electric vehicle maker.Deliveries in recent months have disappointed and the company has also moved to cut prices across its lineup following the steps of EV rivals in China. These headlines highlight a challenging industry backdrop with many moving parts.That being said, there are reasons for investors to look up. Company fundamentals are positive with ...