Li Auto Inc. October 2024 Delivery Update

Rhea-AI Summary

Li Auto delivered 51,443 vehicles in October 2024, representing a 27.3% year-over-year increase. The company's total deliveries for 2024 reached 393,255 vehicles, with cumulative deliveries surpassing 1 million units. Li Auto maintained its position as sales champion in the RMB200,000+ NEV market for seven consecutive months. The company expanded its infrastructure to 475 retail stores across 144 cities, 444 servicing centers in 223 cities, and 1,004 super charging stations with 4,910 charging stalls. Additionally, Li Auto launched a new autonomous driving architecture featuring E2E and VLM models for Li AD Max users.

Positive

• 27.3% YoY growth in monthly deliveries (51,443 vehicles)
• Achieved 1 million cumulative deliveries milestone
• Maintained market leadership in premium NEV segment for 7 consecutive months
• Significant expansion of retail and service infrastructure

Negative

• None.

Insights

Market Research Analyst

Li Auto's October delivery numbers showcase impressive growth with 51,443 vehicles delivered, marking a 27.3% year-over-year increase. The company has maintained its leadership position in the premium NEV segment above RMB200,000 for seven consecutive months, demonstrating strong market positioning. The milestone of 1 million cumulative deliveries positions Li Auto as a formidable player in China's competitive EV market.

The company's expanding infrastructure footprint with 475 retail stores, 444 service centers and 1,004 charging stations indicates robust operational scaling. The rollout of new autonomous driving technology featuring E2E and VLM models shows commitment to technological advancement, potentially strengthening their competitive advantage in the premium segment.

BEIJING, China, Nov. 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 51,443 vehicles in October 2024, up 27.3% year over year. As of October 31, 2024, Li Auto had delivered a total of 393,255 vehicles in 2024, with cumulative deliveries reaching 1,026,619.

Driven by robust sales across its model lineup, the Company remained the sales champion of Chinese automotive brands in the RMB200,000 and above NEV market for seven straight months. In October, the Company achieved a significant milestone with over one million cumulative deliveries, becoming the first Chinese premium automotive brand to reach this landmark. On October 23, the Company rolled out its new autonomous driving architecture, which integrates an end-to-end (E2E) model and a vision-language model (VLM), to Li AD Max users on a full scale.

As of October 31, 2024, the Company had 475 retail stores in 144 cities, 444 servicing centers and Li Auto-authorized body and paint shops operating in 223 cities, and 1,004 super charging stations in operation equipped with 4,910 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 October 2024?

Li Auto delivered 51,443 vehicles in October 2024, representing a 27.3% increase year over year.

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

Li Auto delivered 393,255 vehicles in total for 2024 as of October 31, 2024.

How many retail stores does Li Auto (LI) have as of October 2024?

As of October 31, 2024, Li Auto operated 475 retail stores across 144 cities in China.

What milestone did Li Auto (LI) achieve in October 2024?

Li Auto became the first Chinese premium automotive brand to reach one million cumulative deliveries.