• The wheels on the EV are slowing down apparently as Chinese EV manufacturer Li Auto (LI, $32.62) misses analyst’s delivery expectations and earnings projections. Reporting 28,687 Li ONE EV deliveries and a revenue of $1.3b, up 73% year over year but down 8.7% from Q1.

• Q2 ended with company having $8b in cash and liquid assets and anticipates deliveries between 27,000 and 29,000, with revenue between $1.34 and $1.43b for Q3.

• The corporation frequently invests proceeds from vehicle sales back into the company to foster future growth as it begins to produce and deliver vehicles. Covid and the intense growth of competition in the EV market, notably in China, are said to be the main contributors to Li Auto's diminishing deliveries and rising expenses.