Li Auto shares are trading higher after China announced an extension to the new energy vehicle purchase tax exemption until 2027. The extension would remain effective until end of 2025 with a maximum cap of 30,000 yuan ($4,169) per vehicle.
Portfolio Pulse from Benzinga Newsdesk
Li Auto shares are trading higher after China announced an extension to the new energy vehicle purchase tax exemption until 2027, with a maximum cap of 30,000 yuan ($4,169) per vehicle until the end of 2025.
June 21, 2023 | 11:18 am
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Li Auto's stock price is likely to increase in the short term due to China's extension of the new energy vehicle purchase tax exemption until 2027.
The extension of the new energy vehicle purchase tax exemption in China directly benefits Li Auto, as it reduces the cost of purchasing their vehicles for consumers. This is likely to increase demand for their products, leading to higher revenues and a positive impact on their stock price in the short term.
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