China's auto stocks rise unfazed by U.S. proposal to ban Chinese car parts [CNBC]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: CNBC
The Joe Biden administration has cited national security risks for its latest measure aimed at curbing Chinese auto industry's influence and reach in the U.S. Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing. Hong Kong listed Li Auto rose over 8%, while Nio surged 9%. Shares of BYD climbed 2.7%, while Geely added 3.3%. Leapmotor jumped 4.35%. The proposed rule aims to ban the import and sale of cars with specific vehicle communication systems or automated driving systems with hardware or software linked to China or Russia. These systems enable external communication, such as Bluetooth, cellular, and Wi-Fi modules. The Joe Biden administration has cited national security risks for its latest measure aimed at curbing Chinese auto industry's influence and reach in the U.S. “Cars today have cameras, microp
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LI
Sec Filings
- 9/6/24 - Form 6-K
- 9/6/24 - Form 6-K
- 9/3/24 - Form 6-K
- LI's page on the SEC website