Chinese new energy vehicle maker, Li Auto (NASDAQ:LI) announced Sunday that the company delivered 25,681 vehicles in April 2023, setting another monthly record while exceeding the 20,000 delivery mark for the second consecutive month and representing an increase of 516.3% year over year. The cumulative deliveries of Li Auto vehicles reached 335,599 as of the end of April.
“We are pleased to have delivered over 10,000 Li L7s in its first full month of deliveries, establishing the vehicle as a preferred choice among five-seat premium SUVs for Chinese families while marking the first time a Chinese branded five-seat SUV priced above RMB300,000 ($1 = RMB6.9121) has achieved this monthly delivery milestone. We are also proud to have captured leading shares in both China’s NEV and SUV markets in the price segment above RMB300,000 in the first quarter of 2023,” commented Xiang Li, chairman and chief executive officer of Li Auto. “On the strategy front, during Auto Shanghai 2023, we have unveiled our autonomous driving and BEV roadmap. Regarding autonomous driving, we expect to release the city NOA for beta testing in Li AD Max 3.0 this quarter and target to roll out in 100 cities nationwide by the year end. Additionally, we have introduced our 800-volt fast charging solution, opening a new chapter through the paralleled development of EREVs and HPC BEVs. In terms of product planning, we will strive to establish a model portfolio of one super flagship vehicle, five EREVs, and five HPC BEVs by 2025 to fulfill diverse family needs in the price segment above RMB200,000.”
Shares of LI are up 3.62% in premarket trading on Monday.