Li Auto (LI) delivers over 28,000 vehicles in May, expects strong sales momentum
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Analysts watch closely as Chinese EVs battle for market share in Europe
June 1, 2023 10:24 AM EDTAs new EV competitors push into Europes mass market segment, how much market share will they be able to take? Analysts are keeping a close eye on the next 24 months for significant indicators of the potential risks that incumbent European automakers may face and the extent to which their market share could be at stake.
The annual sales of new cars in Europe far surpass $100 billion. With the increasing adoption of battery electric vehicles (BEVs) in Europe, the market will witness a steady flow of highly competitive offerings from established companies as well as new... More
Li Auto Inc. (LI) Delivered 28,277 EVs in May 2023
June 1, 2023 5:40 AM EDTLi Auto Inc. (Nasdaq: LI) today announced that the Company delivered 28,277 vehicles in May 2023, up 146.0% year over year. This marks Li Autos third consecutive month of delivering over 20,000 vehicles and its second straight month of delivering over 10,000 Li L7s. The cumulative deliveries of Li Auto vehicles reached 363,876 as of the end of May.
In May, Li Autos monthly gross sales1 exceeded RMB10 billion for the first time in our history, laying a solid foundation for us to reach the sales target of RMB100 billion in 2023. The full-scale upgrade of our organizational... More
Volkswagen COO says automaker will not join discount battle in China 'at any price'
May 31, 2023 7:52 AM EDTVolkswagen Chief Operating Officer Ralf Brandstaetter said in an interview released Wednesday that the German automaker would not participate in a discount battle in China "at any price".
"Volkswagen is focusing on a sustainable business model. In concrete terms, this means that we will not participate in the... More
Volkswagen won't join China discount battle "at any price" - COO
May 31, 2023 3:49 AM EDTBERLIN (Reuters) -Volkswagen will not participate in a discount battle in China "at any price", Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday.
The German carmaker is under growing pressure in its most important market from up-and-coming Chinese manufacturers who are more successful with electric cars than their Western rivals.
... More