- In the first five months of the year, Li Auto delivered 167,659 vehicles, a year-on-year increase of 18.73 percent.
- Li Mega Home orders have far exceeded expectations, Li Auto said.
Li Auto (NASDAQ: LI) saw a sequential rebound in deliveries last month after a decline in April.
The company delivered 40,856 vehicles in May, up 16.66 percent from 35,020 in the same period last year and up 20.38 percent from 33,939 in April, according to data released today.
From January to May, Li Auto delivered 167,659 vehicles, up 18.73 percent year-on-year, according to data compiled by CnEVPost.
As of the end of May, Li Auto had accumulated total deliveries of 1,301,531 vehicles since its inception.
Last month, a local media report said that Li Auto had lowered its 2025 sales target from the previous 700,000 units to 640,000 units.
Li Auto currently offers the extended-range electric vehicle (EREV) models Li L9, Li L8, Li L7, Li L6, and the all-electric Li Mega MPV (multi-purpose vehicle).
The company launched the updated Li Mega MPV on April 23, introducing a higher-priced Home variant. On May 8, it rolled out the updated L-series EREVs.
Li Mega Home began deliveries in late May, and its production ramp up is accelerating as orders significantly exceeded expectations, Li Auto said today.
The company will officially launch its first pure electric SUV (sport utility vehicle) model, the Li i8, in July, and will roll out another electric SUV, the Li i6, in September, Li Auto management said during an earnings call on May 29.
The Li i8 is a six-seat large SUV, while the Li i6 is a five-seat SUV.
Li Auto's current lineup includes SUVs and MPVs but no sedans. During the May 29 conference call, its management mentioned plans for sedans but hinted that this is not a high priority at present.
Li Auto would only launch sedan products based on market demand once its annual revenue reaches RMB 300 billion ($41.7 billion) and its product portfolio reaches a certain scale, Li Auto founder, chairman, and CEO Li Xiang said during the call.
The company's revenue for 2024 was RMB 144.5 billion.
In China, SUV models are the most popular, followed by sedans, while MPVs are a niche market.
In 2024, SUVs accounted for 49 percent of China's passenger vehicle retail sales, sedans for 46 percent, and MPVs for 5 percent, according to data compiled by CnEVPost.
As of May 31, Li Auto operates 506 retail stores across 152 cities, 502 service centers across 222 cities, and Li Auto-authorized body and paint shops.
The company also operates 2,414 supercharging stations in China, equipped with 13,195 charging stalls.
Its goal is to complete the deployment of the 2,500th supercharging station by June, setting the stage for the Li i8, which is scheduled to launch in July.
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