(Yicai Global) March 24 -- Shares of Li Auto trimmed their declines after the Chinese new energy vehicle maker said that the newly announced tax relief cuts do not affect its marketable models.

The NEV manufacturer's stock price [NASDAQ: LI] closed 1.7 percent lower in New York yesterday after slumping as much as 7.9 percent in pre-market trading.

The model that no longer enjoys preferential treatment is not being sold anymore and no other models are affected by the policy shift, the Beijing-based company said in a statement on its Weibo yesterday.

The Ministry of Industry and Information Technology yesterday revealed two related lists of vehicles that have not been produced or imported in the past 12 months, including BYD's E5 and E6, and Li Auto's Li One LXA6500SHEVM1. Thus, more than 4,100 NEV models are set to lose their eligibility for reduced or exempted vehicle and vessel taxes. Moreover, over 2,000 models will not enjoy the scrapped purchasing duty.

Li Auto currently sells Li Ones that are registered as LXA6500SHEVM2, it added. The company's first vehicle model costs about CNY328,000 (USD50,272) in China whereas the exempted purchase tax is about CNY28,000 (USD4,292). Last year, the firm sold over 32,000 units.

Editor: Emmi Laine, Xiao Yi