Li Auto Swings to Loss as Competition Weighs on Deliveries

Chinese electric-vehicle maker Li Auto reported a second-quarter operating loss of 2.3 billion yuan ($342 million) as intensifying competition and shifting consumer demand weighed on vehicle deliveries.

Revenue for the three months ended June 30 fell 15.1% year-on-year to 25.7 billion yuan, while quarterly deliveries dropped 11.5% to 98,000 units, the company said Wednesday.