Li Auto delivers over 300,000 vehicles so far this year

Shanghai (Gasgoo)- Chinese new energy vehicle manufacturer Li Auto announced on Monday via its Weibo account that it had already delivered over 300,000 vehicles so far this year, the first Chinese premium auto brand to make the achievement in 2023.

Photo credit: Li Auto

As of today, the cumulative deliveries of Li Auto's L series had surpassed 350,000 units, with respective deliveries of the Li L7, the Li L8, and the Li L9 all topping 100,000 units.

At the Auto Guangzhou 2023 that raised its curtain on November 17, Li Auto’s first all-electric model, the Li MEGA MPV, made its debut with its blind pre-orders kicking off at the same time. Anticipated to be priced between 500,000 yuan and 600,000 yuan, the model will be officially put onto the market in December this year. Besides, showroom displays and test drive models are scheduled to reach Li Auto retail centers across various cities in January 2024, followed by deliveries starting late February.

Li MEGA; photo credit: Li Auto

Positioned as a "high-tech flagship family MPV" by the company, the Li MEGA breaks away from the conventional appearance of traditional MPVs, but adopts an aerodynamically inspired design, establishing itself as the global leader with the lowest drag coefficient among MPVs at a remarkable 0.215Cd.

Notably, Li Auto announced last Friday it received over 10,000 orders in only one hour and 42 minutes after the Li MEGA’s blind pre-orders started.

Earlier this month, Li Auto reported total revenues of 34.68 billion yuan for the third quarter of 2023, representing a 271.2% spike compared to the same quarter last year and a 21% growth from the second quarter of 2023. The company said the revenue hit its highest-ever level on a quarterly basis.

The company's gross margin remained healthy at 22.0% for the third quarter, compared with 12.7% in the same span of last year and 21.8% in the second quarter of 2023. Meanwhile, its free cash flow reached 13.22 billion yuan, while cash position stood at 88.52 billion yuan as of September 30, 2023.

In October, Li Auto saw its monthly deliveries exceed 40,000 units for the first time at 40,422 units, representing an impressive year-on-year surge of 302.1%.

The automaker expects its total vehicle deliveries to be between 125,000 and 128,000 vehicles, indicating a spike of 169.9% to 176.3% from the year-ago period.