Top Stories of Li Auto in 2020

Only 12 months after deliveries started, cumulative deliveries of the Li ONE, Li Auto’s only model for sale currently, surpassed 30,000 units in December, 2020. Apart from the delivery milestone, the company also went public last year. The following are some stories of the company in 2020.

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

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 Auto Inc. Announces Unaudited Third Quarter 2020 Financial Results

Li Auto’s total revenues were RMB2.51 billion (US$369.8 million) in the third quarter of 2020, representing an increase of 28.9% from RMB1.95 billion in the second quarter of 2020.

Gross profit was RMB496.8 million (US$73.2 million) in the third quarter of 2020, representing an increase of 91.3% from RMB259.7 million in the second quarter of 2020. Gross margin was 19.8% in the third quarter of 2020, compared with 13.3% in the second quarter of 2020.

Li Auto’s Zhejiang-based affiliated company set up for auto parts business, NEV sale

Zhejiang Lixiang Auto Co.,Ltd. (Zhejiang Lixiang), an affiliated company of Chinese EV startup Li Auto, was founded on November 9, according to the corporate data platform Qichacha.

Involving a registered capital of 1 billion yuan ($151,343,200), the newborn company is wholly owned by Beijing CHJ Information Technology Co.,Ltd. (CHJ), the parent company of Li Auto. Shen Yanan, co-founder and president of Li Auto, serves as its legal representative.

Li Auto delivers 20,000 vehicles in just 10 months

Chinese premium smart electric vehicle maker Li Auto announced on October 18, 2020 that it had delivered more than 20,000 Li ONEs in only 10 months, the fastest to achieve such deliveries among all local new energy vehicle startups. In December, 2019, the company began the delivery of its six-seat, large premium electric SUV.

Data from the China Automotive Technology and Research Center, a science research institute in China, showed that the Li ONE won the championship in the new energy SUV segment by September insurance registrations. The model had 3,830 insurance registrations last month, outnumbering the NIO ES6, the BYD Tang DM, the Tesla Model X, while its cumulative insurance registrations for the first nine months were up to 18,722 units.

Li Auto forms strategic partnership with NVIDIA, Desay SV

Li Auto, an innovator in China’s new energy vehicle market, signed a strategic partnership with NVIDIA and Desay SV Auto, the chip giant’s partner.

NVIDIA Orin chips will be used in Li Auto’s new full-size smart SUV model to be launched in 2022. Based on NVIDIA chip’s computing power, Desay SV will provide domain controller for Li Auto, who will complete independently all program design and algorithm logic setting for autonomous driving features. Thus, Li Auto will become the first new energy vehicle company in China to develop its own Level 4 autonomous driving system.

Li Auto records highest monthly sales in August

Li Auto delivered 2,711 Li ONEs in August, its highest-ever monthly sales, the automaker said on Wednesday. From January to August, the model’s delivery totaled 14,656.

With delivery starting at the end of 2019, it just took the company six and a half months to achieve the first 10,000 delivery milestone, the fastest among all startups across the world.

Li Auto said to name former Chief ADAS Architect of Visteon as CTO

Li Auto, an innovator in China’s new energy vehicle market, has named Kai Wang, former Chief ADAS Architect of Visteon as its first CTO, according to a local media’s report. On July 30, the automaker made its Nasdaq debut, the second Chinese new energy vehicle company to list in the U.S.

The report said that Mr. Wang was mainly responsible for the development of highly-integrated automobile electronics in Visteon, such as ADAS, digital instrument clusters, infotainment and driver monitoring system.

China's Li Auto announces IPO price

Chinese premium smart electric vehicle maker Li Auto Inc. today announced it priced 95 million American depositary shares (“ADSs”) at US$11.5 per ADS, more than the high end of its estimated offering price range (between US$8.00 and US$10.00). Each ADS represents two Class A ordinary shares of the Company.

The ADSs are expected to begin trading today on the Nasdaq under the symbol “LI”. The offering is expected to close on August 3, 2020, subject to customary closing conditions. If the underwriters do not exercise their option to purchase additional ADSs, the company will raise a total of US$1.47 billion via the offering and the concurrent private placements.