Why Li Auto Shares Are Dropping Today

Why Li Auto Shares Are Dropping Today

Li Auto announced it is selling 47 million American depositary shares to raise funds to grow its business through research and development. Li said it will use the proceeds specifically for the advancement of "next-generation electric vehicle technologies ... [and] the next [battery electric vehicle] platform and future car models" as well as work on autonomous driving technologies. Today's announcements are good news for Li investors as a whole.