Li Auto (LI.US) fell more than 4% on Wednesday, trading at $17.21. This year, CEOs of several automakers, including Li Auto, have repeatedly warned about the cost challenges arising from increasing semiconductor prices. A recent research report from HSBC noted that the rapid rise in prices of upstream raw materials, such as metals and memory chips, is expected to impose significant cost pressures on automakers in the short term. The increase in memory chip prices alone could raise costs by 1,000 to 3,000 yuan, directly impacting the cost structure of electric vehicles. Beyond semiconductors, price fluctuations in power battery raw materials like lithium ore are further amplifying cost pressures.