Benzinga | Sep 24, 2021 02:25PM EDT

Why Li Auto Shares Are Falling

Shares of several Chinese companies, including Li Auto Inc (NASDAQ:LI), are trading lower as investors continue to weigh the possible default of major China-based real estate company Evergrande Group.

Shares of some Chinese companies could also be trading lower amid continued regulatory concerns following proposed oversight of the gaming sector in Macau. Regulatory actions in the education and tech space have put pressure Chinese stocks this year.

Li Auto designs, develops, manufactures and sells smart electric SUVs. The company's flagship SUV Li ONE, is a six-seat, large electric vehicle equipped with a range extension system and cutting-edge smart vehicle solutions.

Li Auto has a 52-week high of $47.70 and a 52-week low of $15.02.