Benzinga | Oct 25, 2021 12:41PM EDT

Why Li Auto Shares Are Rising

Li Auto Inc (NASDAQ:LI) shares are trading higher amid strength in EV names following Tesla Inc's (NASDAQ:TSLA) deal with Hertz and Xpeng's Tech Day event.

Li Auto shares were also trading higher last week on continued strength following reports suggesting Nio said it would be able to double annual production capacity at its Hefei facility in 2022.

Li Auto is trading higher by 26.5% over the past month amid a rebound in Chinese companies following a September sell-off. Shares of several Chinese stocks are trading higher in October following the release of Chinese September trade data.

Li Auto designs, develops, manufactures and sells smart electric SUVs. The company's Li ONE, is a six-seat, large electric SUV 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 $15.98.