Li Earnings Show ‘Intense’ Chinese EV Competition Isn’t Going Away

Too many EVs chasing business in China have made it difficult for auto makers to gain any traction in the world’s largest new car market. Li’s U.S.-listed American depositary receipts, ADRs, were down 1.2% in premarket trading at $12.12, while futures were off 0.1%. In the second quarter, Li delivered about 98,000 cars, down 11% year over year.