In the January-July period, Li Auto delivered 173,251 vehicles, up 144.62 percent year-on-year.
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Category: Li Auto
Li Auto sold 32,500 vehicles from July 1 to July 30, Nio 18,100 and Xpeng 11,600 vehicles.
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Morgan Stanley raised its price target on Nio to $18.7, on Xpeng to $25.4, and on Li Auto to $53, all keeping their ratings at Overweight.
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More on Xpeng-Volkswagen, Audi e-Tron GT hits China market, DJI reveals 'Chengxing' intelligent drive system, Li Auto clarifies on 'Ideal' trademark issue.
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Li Auto delivered 86,533 vehicles in the second quarter, exceeding the upper end of its guidance range of 76,000 to 81,000 vehicles.
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It's another sign that China's auto industry is changing rapidly and becoming hyper competitive, forcing major changes at traditional OEMs, Edison Yu's team said.
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While Xpeng surged 26.69 percent in the US, Nio also rose 10.58 percent, Li Auto was up only a modest 3.56 percent -- why?
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Li Auto's direct offline stores will increase to more than 800 next year, more than doubling the current number, according to local media.
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Li Auto validated the solid-state battery option for more than half a year, but gave up because the cost of the pack alone was close to RMB 300,000, according to local media.
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At the end of 2022, Nio had 26,763 full-time employees, higher than Li Auto's 19,396 and Xpeng's 15,829.
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