On November 23, 2020, a hybrid SUV Li Xiang One will be on display at the 18th Guangzhou International Automobile Exhibition. It is located at China Import & Export Fair Complex.Li Auto is following rival Xpeng's lead in raising money in Hong Kong through a dual primary listing. This means that it will be subject both to the rules of the U.S. and Hong Kong regulators.GUANGZHOU, China Li Auto shares of Hong Kong got off to a slow start in Thursday's trading debut.The shares of a company listed in more than one place tend to closely follow the other. On Wednesday, U.S.-listed Li Auto shares closed 1% higher. The Hong Kong-listed shares closed slightly lower on Thursday due to a wider dip in Asian markets.Li Auto currently only has one model, the SUV it calls Li One. There are more vehicles available from competitors like Nio and Xpeng.Li Auto wants to capitalize on investors' enthusiasm about electric vehicles by raising capital, but it could also be looking to hedge against geopolitical risks as tensions between the U.S. and China continue.The U.S. Securities and Exchange Commission issued rules earlier this year that tightened auditing requirements for foreign companies listed in the U.S. Companies who fail to comply with the rules could be delisted.Li Auto stated that it will make use of the Hong Kong listing proceeds in a variety of areas, including the launch and expansion of production capacity, as well as opening new retail stores.
