Shares of Chinese electric-vehicle makers rose Tuesday in Hong Kong, led by Li Auto Inc., after strong December delivery data.
Li Auto’s shares 2015,
The car maker said December deliveries rose 51% from a year earlier, and said it was “the fastest emerging new energy automaker in China to surpass the 20,000 monthly delivery mark.”
Li Auto’s shares were up by as much as 8.4% in early Tuesday trading. The city’s benchmark Hang Seng Index HSI,
Although China’s persistent supply-chain shortages stemming from Covid restrictions slowed production and sales, Chinese electric-vehicle makers capped a wild year with strong delivery results.
NIO Inc. 9866,
BYD Co. 1211,
Looking ahead, Citi analyst Jeff Chung projects EV sales in China could grow another 33% in 2023.
Shares of Li Auto were last up 8.3% at HK$83.15, while those of XPeng were 5.1% higher at HK$40.3. NIO shares were last 2.6% higher at HK$80.5.