Li Auto Inc. Announces Unaudited First Quarter 2023 Financial Results

CPCA releases April NEV sales data, BYD leads holding 34.5% of the market

Sales of electric cars and plug-in hybrids in China fell slightly in April. According to data from the China Passenger Car Association (CPCA), 606.8k new energy vehicles (NEVs) were sold in April, a 2% drop from March. However, compared year-on-year, this marks an increase of 116%. Aprils NEV penetration rate reached 33.9%, a 2.9ppt jump over March and a 5.9ppt jump over last year.

A look at the manufacturers shows that BYD heads the list with 209.5k NEVs, a 99% increase over last years numbers, bringing... More

'LI has proven itself'; Analysts raise estimates following Li Auto's solid 1Q report

Chinese electric automaker, Li Auto (NASDAQ: LI) released its 1Q earnings release after the closing bell Wednesday, reporting an EPS beat of RMB1.35, RMB1.01 better than the analyst estimate of RMB0.34. Total revenue came in at RMB18.8B, up 97% YoY/6% QoQ. The company delivered 52,584 vehicles in the quarter.

Bank of America kept its Buy rating on Li but raised their 12-month price target for the stock by $3.00 to $37.00 as they see the brand building and its volume sales as top among the major EV start-ups and profitability improvement is... More

BYD cuts starting price for Seal EV in bid to extend market lead over Tesla (TSLA)

Chinese automaker BYD Co cut the starting price of its best-selling Seal sedan by 10% on Wednesday as the electric vehicle maker aims to extend its lead in the world's largest auto market.

The new price for the vehicle is now 18% cheaper than the rear-wheel drive Model 3 made by the companys closest competitor, Tesla (NASDAQ: TSLA).

China's EV market is in the midst of a price war started by Tesla earlier this year, with several EV... More