With a flood of new money supercharging the industry, third-tier EV makers are emerging as powerful forces.
Li Auto is the latest US-listed Chinese tech firm seeking a dual listing in Hong Kong. Its Hong Kong debut met with a lukewarm response.
There could be more consequences to come as Nio is in advanced plans to enter the competitive mass auto market.
Li Auto booked its first quarterly net profit in Q4 but investors are worried about underinvestment in products and self-driving technology.