US Stock Market Move | New energy vehicle concept stocks rose across the board. Li Auto, Inc. Sponsored ADR Class A (LI.US) rose more than 6%.

On Monday, Chinese electric vehicle stocks surged, with Li Auto, Inc. Sponsored ADR Class A (LI.US) rising more than 6%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) rising over 3%, and Xpeng (ZK.US) rising 1%. On the news front, Li Auto, Inc. Sponsored ADR Class A CEO Li Xiang recently revealed that the Ideal i8 will be released in late July, with internal preparations for production, training, delivery, and other related work in the final stages. In addition, it was reported that Xpeng, Inc. ADR Sponsored Class A's flying car company, Xiaopeng Huitian, announced that Du Chao has officially joined as the Chief Financial Officer and Vice President. The company revealed that they plan to go public in the future, but for now, they are focusing on research and development and mass production. Du Chao graduated from the University of Hong Kong and led dozens of overseas listings, financing, and cross-border M&A projects during his ten years at Deutsche Bank Aktiengesellschaft. He later joined 17 Education & Technology Group, Inc. Unsponsored ADR as CFO, overseeing the company's finance, strategy, business analysis, investor relations, and legal affairs, and leading the company to a listing on the NASDAQ in the United States.