While Li Auto's underlying execution remains strong, Nio, Xpeng will be more compelling growth stories in coming quarters, said Deutsche Bank.
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Images shared by multiple automotive bloggers show the prototype in the engineering stage, with the front windshield yet to be installed and the interior far from finished.
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Li Auto expects third-quarter vehicle deliveries to be in the range of 100,000 to 103,000 units, implying year-on-year growth of 277.0 percent to 288.3 percent.
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Insurance registrations in China last week were 44,300 for BYD vehicles and 12,800 for Tesla.
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Revealing Li Auto's L9 Pro and the freshly spotted S01 SUV, NETA AYA's launch, and BYD's preview of the upcoming Song L.
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The Li Auto S01 is the brand's first all-electric SUV the size of the Li Auto L9. It will have 800V platform and CATL's battery.
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The Li Auto L9 Pro with 449 hp, 1315 km of range and AD Pro driving assistance system launched in China. Price sliced 6.5%.
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The Li L9 Pro does not come with LiDAR, and the assisted driving chip has been switched from 2 Nvidia Orin X chips to a Journey 5 from Horizon Robotics.
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Deutsche Bank expects Li Auto's management to guide third-quarter deliveries at around 100,000 units, driven by strong demand for the Li L7 and Li L8.
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Following a price cut and a slew of new models, Nio's sales efficiency has improved materially and should maintain this level of demand for at least the rest of the third quarter, said Edison Yu's team.
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