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There wasn't much optimism about the future of EVs today.
LI earnings call for the period ending September 30, 2024.
Li Auto's operating business is profitable, and it generated $1.3 billion in free cash flow in Q3.
The Chinese EV maker looks undervalued relative to its growth potential.
China's EV market recovery boosts automakers like BYD and NIO, benefiting semiconductor leaders Texas Instruments TXN, Onsemi ON, and STMicroelectronics STM.
Li Auto spiked amid reports that China and the EU are ready to keep talking on tariffs.