China’s Li Auto sees cumulative deliveries top 30,000 units

Shanghai (Gasgoo)- Li Auto announced on Dec. 18 it has so far delivered over 30,000 new vehicles only one year after the delivery kicking off. It is also the first startup in China that achieves the milestone.

According to the startup, Li ONE's users spread over 31 provinces, autonomous regions and centrally-administered municipalities in China, and have driven the REEVs (range-extended electric vehicles) for more than 230 million kilometers.

Li ONE; photo credit: Li Auto

To improve users' driving experience and product quality, Li Auto has continued the collection of suggestion and advices by means of App, custom service and users of internal tests. It has to-date shipped 10 OTA (over-the-air) upgrades since December last year with 33 all-new applications and functions added, and 60 plus existing functions improved. The OTA 2.0 version is about to be launched in late December.

In November, Li Auto's deliveries jumped 25.8% over the previous month, the best-ever figure in terms of monthly performance. In the Jan.-Nov. period, the startup handed over a total of 26,498 Li ONEs.

The production of the Li ONE surpassed 5,000 units last month, while it was still outnumbered by new orders.

Li Auto announced on Dec. 4 the pricing of its underwritten follow-on offering of 47 million American depositary shares (“ADSs”), each representing two Class A ordinary shares of the Company, at a public offering price of $29 per ADS. The underwriters will have a 30-day option to purchase up to an aggregate of 7,050,000 additional ADSs from the Company.

The company said the net proceeds from the proposed offering would be used for R&D of next-generation electric vehicle technologies, including high-voltage platform, high C-rate battery, and ultra-fast charging, the next BEV platform and future car models, and autonomous driving technologies and solutions, as well as for general corporate purposes.