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

Shanghai (Gasgoo)- 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.

Qichacha's records show that Zhejiang Lixiang has a line of businesses including the R&D, manufacturing, wholesale and retail of auto parts, the production of electric motor and the sale of new energy vehicles (NEV).

Li ONE; photo credit: Li Auto

Registered capital of CHJ has decreased to 343.881 million yuan ($52.044 million) from 433.706 million yuan ($65.638 million) after two shareholders withdrew from the lineup of shareholders. Following the equity structure change, Li Xiang, founder and CEO of Li Auto, see the share he holds in CHJ rise to 77.56% from 61.50%, according to Qichacha. 

In October, a total of 3,692 consumers took delivery of the Li ONE PHEVs, Li Auto’s only mass-produced model for sale, setting a new benchmark monthly figure for the third month in a row, said the startup. During the first ten months, Li Auto sold 21,852 Li ONEs in total.

Li Auto's retail outlet in Haikou; photo credit: Li Auto

As of October, Li Auto has deployed 41 retail outlets in 36 cities in China, six of which—Haikou, Xining, Weifang, Wenzhou, Taizhou and Nanzhou—opened their first Li Auto sales center last month.

The startup plans to make its retail network step into such cities as Taiyuan, Yantai, Changchun, Baoding, Hohhot, Tangshan, Fuzhou and Jinhua by the end of this year.