KNDI - Li Auto leads Chinese EV sector to another big day

There is no slowdown today in the recent rally in the Chinese EV sector. The catalyst today appears to be a well-received earnings report from Li Auto (LI). The company said it expects to deliver 11K to 12K vehicles in Q4 and generate sales of about $475M. Gainers in early trading include Nio (NIO) +7.05%, XPeng (XPEV) +7.45% and Kandi Technologies (KNDI) +6.55%. Meanwhile, Li Auto is up 24.20% in early trading. Investors are looking past the low sales marks for the Chinese EV companies to factor in future growth. Price-to-sales comparisons to a more mature Tesla.More details on Li Auto's Q3 earnings report.

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Li Auto leads Chinese EV sector to another big day