Li Auto Inc. February 2021 Delivery Update

Rhea-AI Summary

Li Auto Inc. (Nasdaq: LI) reported strong delivery figures for February 2021, with 2,300 units of the Li ONE delivered, marking a 755.0% year-over-year increase and bringing total cumulative deliveries to 41,276. The company attributed its February performance to seasonal factors and localized COVID-19 outbreaks, yet remains optimistic about future growth due to its expanding sales network, now totaling 60 retail stores and 125 servicing centers across 90 cities. Li Auto continues to focus on expanding its product line and enhancing its market presence.

Positive

• February 2021 deliveries increased by 755.0% year-over-year.
• Cumulative Li ONE deliveries reached 41,276.
• Expansion of retail stores to 60 locations across 47 cities.
• 125 servicing centers operational across 90 cities.

Negative

• February deliveries impacted by seasonal factors and localized COVID-19 outbreaks.

BEIJING, China, March 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 2,300 Li ONEs in February 2021, representing a 755.0% year-over-year increase, which took cumulative Li ONE deliveries to 41,276.

“Our February deliveries were affected by seasonal factors related to the Chinese New Year holiday, as well as the localized COVID-19 outbreaks in northern China,” said Yanan Shen, co-founder and president of Li Auto. “With the continuous expansion of our direct sales and servicing network, and the effective control of the pandemic in China, we are confident of our growth momentum going forward.”

As of February 28, 2021, the Company had 60 retail stores covering 47 cities, and 125 servicing centers and Li Auto-authorized body and paint shops operating in 90 cities. Looking ahead, the Company plans to accelerate the expansion of its direct sales and servicing network in order to cater to increasing user demand, and in preparation for new model launches in 2022 and beyond.

About Li Auto Inc.

Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric SUVs. Through innovative products, technology, and business model, the Company provides customers with safe, convenient, and cost-effective mobility solutions. Li Auto is the first to successfully commercialize extended-range electric vehicles in China. The Company started volume production of its first model, Li ONE, in November 2019. With Li ONE, the Company leverages its in-house technology to create value for its customers, focusing on range extension, smart technology, and autonomous driving solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles 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 in February 2021?

Li Auto delivered 2,300 units of the Li ONE in February 2021.

How much did Li Auto's deliveries increase year-over-year in February 2021?

Deliveries increased by 755.0% year-over-year.

What is the total cumulative delivery number for Li Auto as of February 2021?

The total cumulative deliveries reached 41,276 as of February 2021.

How many retail stores does Li Auto have as of February 2021?

Li Auto has 60 retail stores covering 47 cities.

What challenges did Li Auto face in February 2021 regarding deliveries?

Deliveries were affected by seasonal factors and localized COVID-19 outbreaks.