Li Auto Inc. May 2023 Delivery Update

Rhea-AI Summary

Li Auto Inc. announced that it delivered 28,277 vehicles in May 2023, a 146.0% YoY increase. The company achieved monthly gross sales exceeding RMB10 billion for the first time, laying a foundation to reach the sales target of RMB100 billion in 2023. Li Auto's cumulative deliveries reached 363,876 vehicles as of the end of May.

Positive

• Li Auto delivered 28,277 vehicles in May, up 146.0% YoY
• Monthly gross sales exceeded RMB10 billion for the first time
• Cumulative deliveries reached 363,876 vehicles

Negative

• None.

BEIJING, China, June 01, 2023 (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 28,277 vehicles in May 2023, up 146.0% year over year. This marks Li Auto’s 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 Auto’s 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 processes has comprehensively strengthened our operating capabilities, advancing both our operating quality and efficiency in an upward spiral. Our smart electric vehicles and organizational processes are the two most critical strengths of Li Auto,” commented Xiang Li, chairman and chief executive officer of Li Auto.

As of May 31, 2023, the Company had 314 retail stores in 124 cities, as well as 319 servicing centers and Li Auto-authorized body and paint shops operating in 222 cities.

______________________
¹ Gross sales include value-added tax.

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: Create a Mobile Home, Create Happiness (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. The Company started volume production in November 2019. Its model lineup includes Li L9, a six-seat flagship family SUV, Li L8 and Li ONE, both of which are six-seat premium family SUVs, and Li L7, a five-seat flagship family SUV. 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 while expanding its product line by developing new BEVs and EREVs to target a broader user base.

For more information, please visit: https://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,” “targets,” “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”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), 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 and the HKEX. 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

How many vehicles did Li Auto deliver in May 2023?

Li Auto delivered 28,277 vehicles in May 2023.

What was the YoY growth rate in vehicle deliveries for Li Auto in May 2023?

The YoY growth rate in vehicle deliveries for Li Auto in May 2023 was 146.0%.

What is Li Auto's sales target for 2023?

Li Auto aims to reach a sales target of RMB100 billion in 2023.

What is the total number of cumulative deliveries for Li Auto as of the end of May?

The cumulative deliveries of Li Auto vehicles reached 363,876 as of the end of May 2023.