Li Auto Inc. April 2022 Delivery Update

Rhea-AI Summary

Li Auto Inc. (Nasdaq: LI) announced the delivery of 4,167 Li ONEs in April 2022, raising cumulative deliveries to 159,971 since 2019. However, the company faced significant disruptions due to the COVID-19 resurgence in the Yangtze Delta region, affecting supply chains and production capabilities. The Changzhou manufacturing base, where most suppliers are located, struggled with shutdowns, leading to delayed deliveries for some customers. Currently, Li Auto is working with partners to restore production capacity while adhering to pandemic protocols.

Positive

• Delivered 4,167 Li ONEs in April 2022.
• Cumulative deliveries reached 159,971 since the vehicle's debut.

Negative

• Production disruptions due to COVID-19 in the Yangtze Delta region.
• Supply chain issues resulted in delayed deliveries.

BEIJING, May 01, 2022 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced that the Company delivered 4,167 Li ONEs in April 2022. Cumulative deliveries of Li ONE have reached 159,971 since the vehicle’s market debut in 2019.

“The COVID-19 resurgence in the Yangtze Delta region continues to cause severe industry-wide disruptions in supply chain, logistics and production since late March. Our Changzhou manufacturing base is located in the center of the Yangtze Delta region, which is home to over 80% of our parts suppliers, especially in Shanghai and Kunshan. The COVID-19 resurgence in this area has incapacitated some suppliers in Shanghai and Kunshan. Some of them completely shut down production or delivery of their products, making it impossible for us to maintain production after exhausting our parts inventory. This materially affected our production in April, resulting in delayed deliveries for some of our users. At present, we are working with our supply chain partners to restore production capacity, aiming to shorten the delivery waiting time for Li ONE users, while meeting all pandemic prevention and containment requirements,” Yanan Shen, co-founder and president of Li Auto, commented.

As of April 30, 2022, the Company had 225 retail stores in 106 cities, as well as 292 servicing centers and Li Auto-authorized body and paint shops operating in 211 cities.

About Li Auto Inc.

Li Auto Inc. is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is to create homes on the move that bring happiness to the entire family (“创造移动的家，创造幸福的家”). Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium smart electric SUV. The Company started volume production of Li ONE in November 2019 and released the 2021 Li ONE in May 2021. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company will expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.

For more information, please visit: http://ir.lixiang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Li Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Li Auto’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Li Auto’s strategies, future business development, and financial condition and results of operations; Li Auto’s limited operating history; risks associated with extended-range electric vehicles; Li Auto’s ability to develop, manufacture, and deliver vehicles of high quality and appeal to customers; Li Auto’s ability to generate positive cash flow and profits; product defects or any other failure of vehicles to perform as expected; Li Auto’s ability to compete successfully; Li Auto’s ability to build its brand and withstand negative publicity; cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to develop new vehicles; and changes in consumer demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Li Auto’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Li Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Li Auto Inc.
Investor Relations
Email: ir@lixiang.com

The Piacente Group, Inc.
Yang Song
Tel: +86-10-6508-0677
Email: Li@tpg-ir.com

Brandi Piacente
Tel: +1-212-481-2050
Email: Li@tpg-ir.com

FAQ

What were Li Auto's delivery numbers for April 2022?

Li Auto delivered 4,167 Li ONEs in April 2022.

How many total Li ONE vehicles have been delivered since its launch?

Cumulative deliveries of Li ONE reached 159,971 since 2019.

What caused the production delays at Li Auto?

COVID-19 disruptions in the Yangtze Delta region affected supply chains and production.

How is Li Auto addressing supply chain disruptions?

Li Auto is working with supply chain partners to restore production capacity.

What is the main impact of the COVID-19 resurgence on Li Auto?

The resurgence has led to significant industry-wide disruptions and delayed deliveries.