Li Auto's stock extends gains after August EV deliveries more than triples to a record

Shares of Li Auto Inc. gained 0.8% in premarket trading Wednesday, bucking the weakness in the China-based electric vehicle peers, after the company reported record August deliveries. The company said it delivered 9,433 Li ONE EVs in August, up 248.0% from a year ago and up 9.8% from July. the company has now delivered 48,176 Li ONEs year to date. The deliveries data comes a day after Li's stock surged 6.3% after the company reported a surprise second-quarter loss but revenue that exceeded expectations and provided an upbeat outlook. Meanwhile, shares of fellow China-based EV makers Nio Inc. dropped 4.2% in premarket trading and of XPeng Inc. shed 2.1% after the companies reported August deliveries, but also reported some delivery issues. The declines come as futures for the S&P 500 tack on 0.3%.

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