Li Auto posts first yearly profit but sees challenges ahead
Automaker reported net income of $1.6 billion
Li Auto Inc. swung to a profit last year after deep discounting to fend off rising competition in the Chinese electric vehicle market spurred better-than-expected sales during the fourth quarter. The automaker reported net income of 11.8 billion yuan ($1.6 billion) last year, making it the first of the three major Chinese EV upstarts — […]
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