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Electric Vehicle Startup Li Auto Hits Monthly Delivery Record

By Ding Yi / Sep 03, 2020 05:23 PM / Business & Tech

Chinese electric carmaker Li Auto reported strong deliveries for August, as the country’s automobile market looks like it is on the road to recovery following the Covid-19 pandemic.

Li Auto delivered 2,711 Li ONE electric sports utility vehicles in August, a monthly sales record since the company began delivering the model in December last year, the company said in a statement Wednesday.

The August figure brings total deliveries of the Li ONE during the period between January and August to 14,656 units, according to the statement.

Founded in 2015 by entrepreneur Li Xiang, Li Auto rolled out the Li ONE, its first model, at the end of 2019, and says it is planning to launch a premium model in 2022.

As of August 31, Li Auto had 31 retail stores in 26 Chinese cities and plans to expand its direct sales and servicing network across China, according to the company.

In July, Li Auto went public on Nasdaq, becoming the second Chinese electric car startup to list in the U.S.

For the three months through June, Li Auto had total revenues of 1.9 billion yuan ($278 million) and net losses of 75 million yuan.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Electric-SUV Maker Li Auto Has Strong First Day on Nasdaq


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