LI Stock Alert: Li Auto Crumbles as Competition Forces Price Cuts

Li Auto (NASDAQ:LI) stock is falling on Monday after the electric vehicle (EV) company announced plans to reduce the price of its products amid stiff competition in the EV space.Li Auto is reducing the price on four of its five models in a bid to better compete with rival EV companies. It’s also offering refunds for customers who bought those models earlier this year at their higher prices.The price cuts have Li Auto dropping the purchase sticker for its L7, Li L8, Li L9 and Li MEGA models. This has it redu ...