Li Auto Inc. March 2024 Delivery Update
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The reported increase in vehicle deliveries for Li Auto signifies a robust demand trajectory in the new energy vehicle sector. Examining the growth rate, the 39.2% year-over-year rise in March and a 52.9% increase for the quarter suggest a strong market acceptance of Li Auto's offerings. This performance is particularly noteworthy given the competitive landscape and potential headwinds such as supply chain disruptions and raw material cost volatility. Expansion of retail and service networks, as well as charging infrastructure, indicates a strategic investment in customer experience and post-sale support, which can enhance brand loyalty and reduce range anxiety for potential customers.
Li Auto's delivery numbers are a critical metric for investors as they reflect revenue potential and market share gains. The milestone of 700,000 cumulative deliveries could be a positive signal for investor confidence and the company's valuation. However, investors should also consider the capital expenditures associated with expanding retail and service centers, which could impact short-term profitability. Long-term, these investments may pay off by solidifying customer satisfaction and driving recurring revenue streams through servicing and parts.
The achievement of 700,000 cumulative deliveries sets Li Auto apart in the Chinese new energy vehicle market, a sector witnessing exponential growth. Li Auto's focus on user value and experience, as highlighted by their CEO, is aligned with consumer trends favoring sustainable and technologically advanced vehicles. The operational update on the number of charging stations is also significant, as it addresses a primary concern for electric vehicle consumers and could positively influence market penetration rates. The automotive industry should monitor how Li Auto's scale affects its operational efficiency and ability to innovate against its peers.
BEIJING, China, April 01, 2024 (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 the Company delivered 28,984 vehicles in March 2024, increasing by
“With gratitude for the trust and support of over 700,000 families, we remain dedicated to enhancing our focus on user value and continually improving our product strength and user experience,” commented Xiang Li, chairman and chief executive officer of Li Auto.
As of March 31, 2024, the Company had 474 retail stores in 142 cities, as well as 356 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities. 357 super charging stations have commenced operation across the country, equipped with 1,544 charging stalls.
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 to successfully commercialize extended-range electric vehicles in China. 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, and Li L8, a six-seat premium family SUV, as well as Li L7, a five-seat flagship family SUV. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions while expanding its product line by developing new BEVs and EREVs to target a broader user base.
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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
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
+86-10-6508-0677
Email: Li@tpg-ir.com
