Li Auto’s CFO and Executive Director, Tie Li, sold their entire stake in the company. The transaction totaled approximately $822,000 worth of stock. The sale price was $8.12 per share, considerably below the recent trading price.
The complete divestment by a high-level executive raised immediate concerns among shareholders. This transaction marks the largest sale by any Li Auto insider over the last year, adding to recent negative market sentiment.
The sale follows reports from the previous day detailing the departure of Product Head Zhang Xiao. Xiao, who oversaw key models Li L7 and L8, reportedly left due to disappointing sales performance of the new Li i8 electric SUV.