Li Auto

Li Auto will build on the LWG platform to develop more environmentally friendly products, the company said.

China's central bank today cut its benchmark LPR rate for 5-year and above by 15 basis points to 4.45 percent.

Dismissing an offer or laying off employees is normal for a company, but in China, things get delicate when it comes to groups that are considered disadvantaged.

At press time, NIO was down 5 percent in Hong Kong, ending a four-day winning streak. XPeng was down 5.24 percent and Li Auto was down 2.39 percent.

NIO has risen for a fourth straight day in Hong Kong, bringing its cumulative gain since May 13 to about 30 percent.

Tiger Global increased its stake in XPeng by 120.33 percent and in Li Auto by 167.35 percent in the first quarter. The fund does not own any shares of NIO.

At the end of the fourth quarter last year, it held 350,000 shares of NIO worth $11,088,000 and 666,500 shares of XPeng worth $33,545,000.

This is the third consecutive day of gains for NIO in Hong Kong, with cumulative advances of about 17 percent since last Friday.

China is ramping up its economic stimulus, and the Covid situation in Shanghai is showing a significant improvement.

The world's largest hedge fund increased its stake in NIO by more than 70 percent in the first quarter, and doubled its stakes in both XPeng and Li Auto.