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Staff members stand at the booth of Chinese electric vehicle (EV) maker Li Auto, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsCompanies Li Auto Inc FollowSHANGHAI, Nov 17 (Reuters) - Li Auto (2015.HK) said on Friday it will start mass production and delivery of its first pure electric car in February, as the up and coming Chinese automaker bets on fast charging technologies to solve range anxiety for EV users. The MEGA MPV will also be the first model to be produced at Li Auto's Beijing plant with a designed capacity of 100,000 units annually. Founded in 2015, Li Auto has been offering four extended range hybrid SUVs targeting family users. ($1 = 7.2441 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Muralikumar Anantharaman and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.
Persons: Li Auto, Tingshu Wang, Li, Zhang Yan, Brenda Goh, Muralikumar Anantharaman, Raju Gopalakrishnan Organizations: REUTERS, HK, Li Auto, Thomson Locations: Beijing, China
The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
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Cramer's lightning round: I say thumbs up to MP Materials
  + stars: | 2023-01-26 | by ( Krystal Hur | ) www.cnbc.com   time to read: 1 min
In this article 2015-HKMRVLRESMPSO Follow your favorite stocks CREATE FREE ACCOUNTLoading chart...Southern Co : "I'm going to bless the idea." Loading chart...MP Materials Corp : "I say, thumbs up, MP Materials." Loading chart...Marvell Technology Inc : "You don't want to buy until it reports. After it reports, we're going to take a solid look at it. Who am I to go against the smartest man in the world?"
Dec 9 (Reuters) - China's Li Auto Inc on Friday forecast higher delivery of vehicles and a rise in revenue in the fourth quarter, banking on a production ramp-up and better cost management. The electric vehicle maker saw net loss widen to 1.65 billion yuan ($237.55 million) compared with a net loss of 21.5 million yuan a year ago for the third quarter ended Sept.30. Most auto makers have been hit by rising material costs and a global chip shortage, but Li Auto said that it was expecting higher deliveries and production scale up as global supply chain issues ease. Vehicle sales for the company jumped 22.5% from a year ago to 9.05 billion yuan in the reported quarter, while margins dropped to 12% from 21.1%. It dispatched 26,524 cars in the September quarter, with October and November deliveries already at more than 25,000 units.
The global economy this year has faced more obstacles than a Tough Mudder, but far less optimism about coming out of it for the better. A worldwide recession is just around the corner, and BlackRock is expecting it to bring more market turbulence than ever before. The global economy is leaving a four-decade stretch of stable growth and modest inflation to enter a period of massive upheaval and instability, BlackRock analysts wrote in the firm's 2023 Global Outlook. "Recession is foretold as central banks race to try to tame inflation. What's more, BlackRock said that markets haven't fully priced in the potential magnitude of the impending recession, since earnings have yet to reflect even a small downturn.
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