Li Auto Inc. December 2024 Delivery Update

Rhea-AI Summary

Li Auto (LI) reported delivering 58,513 vehicles in December 2024, marking a 16.2% year-over-year increase and setting a new monthly record. The company's total deliveries for 2024 reached 500,508 vehicles, bringing cumulative deliveries to 1,133,872. This achievement makes Li Auto the fastest-growing premium auto brand in China, reaching 500,000 annual deliveries within five years of its first delivery.

The company announced the release of its smart assistant, Li Xiang Tong Xue, and plans to roll out OTA update 7.0 in January, featuring enhanced highway NOA with end-to-end functionality across all driving scenarios. As of December 31, 2024, Li Auto operated 502 retail stores in 150 cities, 478 servicing centers, and 1,727 super charging stations with 9,100 charging stalls across China.

Positive

• Record monthly deliveries of 58,513 vehicles in December 2024 (+16.2% YoY)
• Achieved 500,508 total deliveries in 2024
• Reached 500,000 annual deliveries milestone within 5 years
• Expanded charging infrastructure to 1,727 stations with 9,100 charging stalls
• Growing retail presence with 502 stores in 150 cities

Negative

• None.

Insights

Automotive Industry Analyst

Li Auto's December performance marks a strategic triumph in China's competitive EV landscape. The 58,513 monthly deliveries and 500,508 annual vehicles demonstrate exceptional operational execution, particularly noteworthy in the premium segment. The 16.2% year-over-year growth, while solid, suggests a maturing growth curve typical of companies transitioning from hypergrowth to sustainable expansion. The rapid achievement of 500,000 annual deliveries within five years sets a new industry benchmark, indicating superior market penetration strategies and product-market fit. The expansion of their charging infrastructure to 1,727 stations with 9,100 charging stalls shows strategic investment in customer experience and brand ecosystem development. Their retail footprint of 502 stores across 150 cities reflects an optimized distribution strategy balancing market coverage with operational efficiency.

Technology Innovation Analyst

The upcoming OTA 7.0 update represents a significant technological leap in autonomous driving capabilities. The integration of highway and city NOA through a proprietary dual system combining E2E and VLM models positions Li Auto at the forefront of full-stack autonomous driving development. The introduction of intelligent reasoning visualization is a groundbreaking feature that addresses the critical "black box" problem in autonomous systems, potentially setting new industry standards for transparency in AI-driven vehicles. The mobile deployment of Li Xiang Tong Xue assistant indicates a strategic move toward expanding the digital ecosystem beyond vehicles, similar to Tesla's approach but with unique Chinese market adaptations. This technical architecture suggests Li Auto is building a robust foundation for future AI-driven mobility solutions, differentiating itself in the premium EV segment through software innovation.

BEIJING, China, Jan. 01, 2025 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced that it delivered 58,513 vehicles in December 2024, reflecting a 16.2% year-over-year increase. Total deliveries for the full year of 2024 reached 500,508 vehicles, bringing the Company’s cumulative deliveries to 1,133,872.

Li Auto’s December delivery represents a new monthly high. With this milestone, the Company has achieved annual deliveries of over 500,000 vehicles within just five years since its first delivery, setting the record for the fastest growth among premium auto brands in the Chinese market. The Company’s smart assistant, Li Xiang Tong Xue, is now available for download on mobile devices, extending the benefits of its intelligent capabilities to more users. In January, Li Auto will begin rolling out OTA update version 7.0, featuring an enhanced highway NOA built on an end-to-end architecture. This update will seamlessly integrate both city and highway NOA capabilities, providing end-to-end functionality across all driving scenarios powered by the Company’s full-stack, proprietary dual system, which integrates an end-to-end (E2E) model and a vision-language model (VLM). Additionally, Li Auto will introduce a first-of-its-kind intelligent reasoning visualization function, enabling drivers to understand the intelligent system’s decision-making and execution processes, promoting safer and more informed autonomous driving.

As of December 31, 2024, the Company had 502 retail stores in 150 cities, 478 servicing centers and Li Auto-authorized body and paint shops operating in 225 cities. The Company also had 1,727 super charging stations in operation equipped with 9,100 charging stalls in China.

About Li Auto Inc.

Li Auto Inc. is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is: Create a Mobile Home, Create Happiness (创造移动的家,创造幸福的家). Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer in successfully commercializing extended-range electric vehicles in China. While firmly advancing along this technological route, it builds platforms for battery electric vehicles in parallel. The Company leverages technology to create value for users. It concentrates its in-house development efforts on proprietary range extension systems, innovative electric vehicle technologies, and smart vehicle solutions. The Company started volume production in November 2019. Its current model lineup includes Li MEGA, a high-tech flagship family MPV, Li L9, a six-seat flagship family SUV, Li L8, a six-seat premium family SUV, Li L7, a five-seat flagship family SUV, and Li L6, a five-seat premium family SUV. The Company will continue to expand its product lineup to target a broader user base.

For more information, please visit: https://ir.lixiang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to,” “challenges,” and similar statements. Li Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Li Auto’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Li Auto’s strategies, future business development, and financial condition and results of operations; Li Auto’s limited operating history; risks associated with extended-range electric vehicles and high-power charging battery electric vehicles; Li Auto’s ability to develop, manufacture, and deliver vehicles of high quality and appeal to customers; Li Auto’s ability to generate positive cash flow and profits; product defects or any other failure of vehicles to perform as expected; Li Auto’s ability to compete successfully; Li Auto’s ability to build its brand and withstand negative publicity; cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to develop new vehicles; and changes in consumer demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Li Auto’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and Li Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Li Auto Inc.
Investor Relations
Email: ir@lixiang.com

Christensen Advisory
Roger Hu
Tel: +86-10-5900-1548
Email: Li@christensencomms.com

FAQ

How many vehicles did Li Auto (LI) deliver in December 2024?

Li Auto delivered 58,513 vehicles in December 2024, representing a 16.2% year-over-year increase and setting a new monthly record.

What was Li Auto's (LI) total delivery count for 2024?

Li Auto delivered 500,508 vehicles in total for the full year of 2024.

How many charging stations does Li Auto (LI) operate as of December 2024?

As of December 31, 2024, Li Auto operated 1,727 super charging stations with 9,100 charging stalls across China.

What new features will Li Auto's (LI) OTA update 7.0 include?

Li Auto's OTA update 7.0 will feature enhanced highway NOA with end-to-end functionality across all driving scenarios, powered by a full-stack proprietary dual system integrating E2E and VLM models.

How many retail stores does Li Auto (LI) have in China as of December 2024?

As of December 31, 2024, Li Auto operated 502 retail stores across 150 cities in China.