Li Auto (LI) Grows 8% on New EV Launch

Li Auto Inc. (NASDAQ:LI) is one of the 10 Stocks That Stole Today’s Spotlight.

Li Auto snapped a three-day losing streak on Monday, adding 7.96 percent to finish at $28.08 apiece on investor excitement  amid the looming launch of its new electric SUV in China.

On June 21, China’s Ministry of Industry and Information Technology (MIIT) released the latest catalog of vehicle models set to be approved for sale. The list included the Li i6, Li Auto Inc.’s (NASDAQ:LI) third all-electric car, which it plans to launch in September this year.

Li Auto Inc. (NASDAQ:LI) said the Li i6 is nearly 5 meters long and offers both all-wheel drive (AWD) and rear-wheel drive (RWD) variants. It would be the first vehicle model with an RWD option.

The rear-wheel drive alone boasts a maximum power of 250 kW, while the AWD adds a 150 kW motor.

The Li i6 is expected to compete with the Mercedes-Benz GLC, BMW X3, and Audi Q5.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.