Li Auto Inc. November 2024 Delivery Update

Rhea-AI Summary

Li Auto delivered 48,740 vehicles in November 2024, representing an 18.8% year-over-year increase. The company's total deliveries for 2024 reached 441,995 units, with cumulative deliveries hitting 1,075,359. Li Auto maintained leadership among Chinese brands in the RMB200,000+ passenger vehicle segment for eight consecutive months. The Li L6 model surpassed 160,000 cumulative deliveries. Vehicles with Li AD Max autonomous driving technology represented over 70% of orders for models above RMB300,000 and over 80% for those above RMB400,000. The company's infrastructure includes 475 retail stores, 451 service centers, and 1,135 super charging stations with 5,680 charging stalls across China.

Positive

• 18.8% year-over-year delivery growth in November 2024
• Market leadership in RMB200,000+ segment for 8 consecutive months
• Li L6 model achieved 160,000+ cumulative deliveries
• High adoption rate (70-80%) of Li AD Max technology in premium models
• Extensive retail and service network expansion across China

Negative

• None.

Insights

Market Research Analyst

Li Auto's November deliveries showcase impressive growth metrics, with 18.8% YoY increase to 48,740 vehicles. The company's strong performance in the premium segment (RMB200,000+) is particularly noteworthy, maintaining market leadership among Chinese brands for eight consecutive months. The high adoption rate of Li AD Max autonomous driving system, capturing 70% of orders in the RMB300,000+ segment and 80% in RMB400,000+, indicates strong consumer confidence in their technology. The expanding retail network, now at 475 stores across 141 cities, coupled with 1,135 super charging stations, demonstrates robust infrastructure development to support continued growth. The cumulative 2024 deliveries of 441,995 vehicles position Li Auto as a formidable player in China's competitive EV market.

Tech Expert

The high adoption rate of Li AD Max demonstrates Li Auto's successful technological differentiation strategy. The implementation of end-to-end (E2E) and vision-language model (VLM) technologies in their OTA 6.5 update, enabling one-click point-to-point autonomous driving, represents a significant advancement in their autonomous driving capabilities. This feature positions Li Auto competitively against both domestic and international rivals in the premium EV segment. The strong consumer preference for vehicles equipped with Li AD Max, particularly in higher price segments, validates their R&D investments and suggests potential for premium pricing power and higher margins.

BEIJING, China, Dec. 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 it delivered 48,740 vehicles in November 2024, up 18.8% year over year. As of November 30, 2024, Li Auto had delivered a total of 441,995 vehicles in 2024, with cumulative deliveries reaching 1,075,359.

Li Auto maintained its best-selling position among Chinese automotive brands in the RMB200,000 and above passenger vehicle market for eight straight months. Li L6 achieved over 160,000 cumulative deliveries, retaining as the sales champion among Chinese brand models priced above RMB200,000 since June. Additionally, the Company’s continuous advancements in autonomous driving technologies have boosted demand for models equipped with Li AD Max. In November, vehicles featuring Li AD Max accounted for over 70% and over 80% of orders for models priced above RMB300,000 and above RMB400,000, respectively. The Company released OTA update version 6.5 in November, providing all Li AD Max users with one-click point-to-point autonomous driving feature, leveraging its end-to-end (E2E) and vision-language model (VLM) technologies.

As of November 30, 2024, the Company had 475 retail stores in 141 cities, 451 servicing centers and Li Auto-authorized body and paint shops operating in 223 cities, and 1,135 super charging stations in operation equipped with 5,680 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 November 2024?

Li Auto delivered 48,740 vehicles in November 2024, representing an 18.8% increase year over year.

What is Li Auto's (LI) total delivery count for 2024 so far?

Li Auto delivered 441,995 vehicles in 2024 as of November 30, with cumulative deliveries reaching 1,075,359.

What is the adoption rate of Li AD Max in Li Auto's (LI) premium models?

In November 2024, Li AD Max equipped vehicles accounted for over 70% of orders for models above RMB300,000 and over 80% for models above RMB400,000.

How many retail stores and charging stations does Li Auto (LI) have in China?

As of November 30, 2024, Li Auto operated 475 retail stores in 141 cities and 1,135 super charging stations with 5,680 charging stalls in China.