Li Auto Inc shares are extending their losses in pre-market trading on Monday after the carmaker unveiled its first fully battery electric vehicle at the end of last week.
The Chinese group launched the Li Mega battery EV model, a multipurpose passenger vehicle (MPV), on Friday and updated versions of three existing models as it looks to sell 800,000 vehicles a year.
First customers of the seven-seat Li Mega will need to pay RMB 559,800 ($77,770), which will be the most expensive Li Auto model to date.
Mega by name and by nature, the EV is said by the company to be the world's largest mass-produced private passenger EV, measuring 535cm in length with a wheelbase of 330cm, a width of 197cm and a height of 185cm.
It has a range of 441 miles (710km) on a single charge using a battery from CATL that can also be two-thirds charged in 12 minutes.
Shares in Li were down 7% in Nasdaq pre-market trading at $40.44, and fell 10.7% in Hong Kong to $160. This followed a 5% fall on Nasdaq on Friday when the launch came after the Hong Kong market had closed.