Is Li Auto Stock a Buy?
When tallying up electric vehicle (EV) sales globally, China tops the list. In the first half of 2021, nearly 1.1 million EVs were sold in China -- more than 40% of the EV units sold worldwide during that period. Obviously, that has many leading automakers setting their sights on this fast-growing market. Li Auto (NASDAQ: LI) isn't necessarily a leader, but it has managed to gain a foothold in this competitive market.
In November, Li Auto sold 13,485 electric vehicles in China. That places it among the top 10 sellers of EVs in China. Other top players include BYD, Tesla, General Motors (joint venture with SAIC and Wuling), Xpeng (NYSE: XPEV), and Nio (NYSE: NIO). Li Auto's deliveries in November exceeded rival Nio's 10,705 units. By comparison, Xpeng sold 15,613 EVs during the month.
Image source: Li Auto.
Source Fool.com
