Li Auto (LI) passes 300k EV delivery goal a month early

December 1, 2023 9:29 AM EST

Chinese electric automaker, Li Auto announced Friday that the company delivered 41,030 vehicles in November 2023, a 172.9% increase over the same time last year.

The automaker’s cumulative year-to-date deliveries reached 325,677 as of the end of November 2023, surpassing the company’s 2023 target of 300,000 vehicles ahead of schedule.

“Bolstered by the strong growth momentum of our three Li L series models, our monthly deliveries have exceeded 40,000 vehicles for two consecutive months, the highest among Chinese emerging new energy automakers and premium brands in China,” commented chairman and CEO Xiang Li.

“We will continue to strive for a 50,000 monthly delivery target in December with ample preparations in sales, supply, production, and delivery capabilities.” Added the executive.

The chairman also announced Li Auto’s “significant progress” in the company’s research and development of autonomous driving. According to comments released by the automaker, Li Auto plans to accelerate the rollout of AD Max 3.0 through the upgrade of OTA version 5.0 in December.

“With this upgrade, our AD Max 3.0 will provide full scenario autonomous driving and assisted driving functions, as well as the industry’s leading AEB active safety system and automated parking system.”

Additionally, LI introduced an innovative AC Eco mode that harnesses internally developed thermal management systems and the advanced algorithmic prowess of the company’s XCU controller. Consequently, this enhancement can boost the driving range on battery by 15% to 20% specifically in colder winter conditions.

As of November 30, 2023, the Company operated 398 retail stores across 136 cities, alongside 320 servicing centers and authorized body and paint shops for Li Auto, functioning in 209 cities.

Shares of LI are up 1.52% in pre-market trading on Friday.

By Michael Elkins | [email protected]

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