Why Li Auto Stock Crashed Today

Intense competition continues in the electric vehicle (EV) market.One Chinese electric vehicle (EV) maker has differentiated itself from the crowd. It has grown by selling extended-range electric vehicles (EREVs) that utilize a small onboard gasoline engine to boost vehicle range. But Li Auto (LI -16.68%) also just came out with its first pure electric model earlier this year.Investors were hoping the fully electric Li Mega would help boost sales beginning in the second quarter. But Li's second-quarter earn ...