With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
New Generation AITO M9 Exceeds 20,000 Orders in 24 Hours
On May 28, Richard Yu, Huawei's executive director and chairman of the Consumer Business Group, announced that the new AITO M9 series secured over 20,000 firm orders within 24 hours of hitting the market. Unveiled on May 27, the model boasts more than 140 new technologies and over 40 industry-first innovations.
Li Auto Releases Q1 2026 Financial Results
Li Auto released its first-quarter 2026 financial results on May 28.
Data shows Li Auto delivered 95,142 vehicles in the first quarter, up 2.5% year-on-year, beating its performance guidance. This secured the top spot among Chinese brands in the new energy vehicle market priced above 200,000 yuan.
Revenue for the quarter came in at 23 billion yuan, with cash reserves of 94.3 billion yuan at the end of March — a level maintained for ten consecutive quarters.
While optimizing its financial structure, Li Auto maintained high R&D investment: first-quarter spending reached 2.7 billion yuan, an 8.3% annual increase. The full-year budget is set at 12 billion yuan, with roughly 50% allocated to AI-related projects. Meanwhile, sales and administrative expenses fell 19% year-on-year, reflecting a strategy that prioritizes innovation while tightening costs.
On the product front, pure electric models drove the quarter's growth. Monthly sales of the Li Auto i6 stabilized above 20,000 units, and the 100,000th vehicle rolled off the line in April — a record pace for a pure electric SUV in the 200,000 to 300,000 yuan bracket.
Looking ahead to the second quarter, Li Auto expects to return to a strong growth trajectory as the new L9 ramps up and the refreshed L8 launches in June.
New Geely Xingyuan Hits the Market, Starting from 61,800 Yuan
Geely officially launched the new Xingyuan on May 28. The lineup includes four trims: the 410km Longing Edition, 410km Riding Wind Edition, 480km Exploration Edition, and 480km Exploration+ Edition. Limited-time introductory prices range from 61,800 to 91,800 yuan.
