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Li Auto (NASDAQ:LI) announced Friday that its orders for Li L9, its flagship smart SUV, have exceeded 30,000 in 72 hours since the vehicle was available for reservation. Shares are trading up over 4% pre-market following the news.
Li Auto closed at $39.24 per share at the end of Thursday’s trading. It was up 6.63% following the news reported by Chinese state media that the government was considering an extension of the country’s tax exemptions on electric-car purchases.
The company has taken in more than $22.4 million with the L9 orders, as each order required a RMB5,000 ($746.56) deposit, which is refundable for a limited time. Deliveries of the Li L9 are expected to start by the end of August 2022. Li’s stock has run up 22.2% year-to-date through Thursday.