Li Auto Approves $1 Bln Share Repurchase Program

(RTTNews) - Li Auto Inc. (LI), a Chinese electric vehicle manufacturer, on Tuesday, approved a share repurchase program of up to $1 billion.

The program allows the company to repurchase its Class A ordinary shares and/or American depositary shares through March 31, 2027.

The repurchase is reflecting confidence in its strategic roadmap and future value creation.

The existing shareholder-approved mandate allows the company to conduct share repurchases under the program until the next annual general meeting.

The company said the repurchases may be executed from time to time through open market transactions, block trades, or other legally permissible means, depending on market conditions.

In the pre-market trading, Li Auto is 4.26% higher at $17.86 on the Nasdaq.