In the January-August period, Li Auto‘s market share in China for NEVs of RMB 300,000 and above exceeded 30 percent, the company said.
Li Auto (NASDAQ: LI) saw another record month of deliveries, although the growth rate slowed due to capacity bottlenecks.
Li Auto delivered 34,914 vehicles in August, up 2.29 percent from July and up 663.82 percent year-on-year, according to data released by the company today.
Li Auto’s current models on sale include the five-seat Li L7, and the six-seat Li L8 and Li L9, which are all extended-range electric vehicles (EREVs), essentially plug-in hybrids.
In August, deliveries of the Li L7, Li L8 and Li L9 all exceeded 10,000 units, Li Auto said.
In the first eight months of the year, Li Auto delivered 208,165 units, an increase of 176.10 percent year-on-year.
To date, Li Auto’s cumulative deliveries since inception stand at 465,499 units, data monitored by CnEVPost show.
In the January-August period, Li Auto’s market share in China for new energy vehicles (NEVs) of RMB 300,000 ($41,330) and above exceeded 30 percent, the company said.
Since April this year, Li Auto has been the No. 1 seller of premium internal combustion engine and new energy SUVs in China for five consecutive months, it said.
Notably, Li Auto is facing capacity bottlenecks, which are depressing its deliveries.
Li Xiang, the company’s founder, chairman and CEO, said last month that Li Auto parts capacity bottlenecks will be resolved in October.
Li Auto’s factory in Changzhou, Jiangsu province, will be upgraded during the Chinese National Day holiday to support production expansion, he said previously.
Li Auto plans to officially launch its first battery electric vehicle (BEV) model, the Li Mega, in December, with show cars of the model available in stores in January next year and deliveries starting in February, it announced at the Chengdu auto show that began late last month.
At the time, Li Auto reiterated its confidence that the Li Mega will be the highest-selling model in China priced at more than RMB 500,000, regardless of energy form or body style.
The Li Mega will break the traditional perception that premium EVs cannot be a breakout product and truly exceed user demand, Li Auto vice president Liu Jie said at the time.
Li Mega will help Li Auto realize its goal of becoming China’s best-selling premium car brand in 2024, the company said today.
As of August 31, Li Auto had 346 retail stores in 130 cities and 324 repair centers and authorized body and paint stores in 220 cities.
($1 = RMB 7.2595)