US Stock Market Move | Founder Li Xiang is transitioning to the AI field. Before the market opens, Li Auto, Inc. Sponsored ADR Class A (LI.US) rose more than 4%.

On Wednesday, Li Auto, Inc. Sponsored ADR Class A (LI.US) stock was up more than 4% in pre-market trading, reaching $26.76. According to financial news outlet 21 Caijing, it was reported from multiple sources that the highest decision-making body of Li Auto, Inc. Sponsored ADR Class A - the Strategic Committee - has approved the "smart car strategic closed-loop management plan". The review result appoints President Ma Donghui as the person in charge of the smart car strategy, responsible for planning strategic goals and executing smart car business. Meanwhile, founder Li Xiang will focus more on the AI field.