Li Auto Registers Similar Success As Rivals Nio, Xpeng: January Deliveries Jump 356%

Li Auto Inc LI on Monday reported a 355.8% year-over-year gain in vehicle deliveries in January.

What Happened: The Beijing-based automaker delivered 5,379 Li-One vehicles in January. Cumulative deliveries stood at 38,976 vehicles at the end of the month.

The company also announced the setting up of a new research and development center in Shanghai that will work on the development of EV-related technologies.

The technologies include high-voltage platforms, ultra-fast charging, autonomous driving, operating systems, and computing platforms among others. 

Yanan Shen, the co-founder and president of Li Auto, said that the establishment of the center will “expedite our [Li’s] model launches and the development of smart vehicle technologies.”

Why It Matters: In December, the company had reported 6,126 deliveries, which means month-over-month deliveries fell by 12.19%.

Rival Xpeng Inc XPEV recorded a 470% increase in deliveries on a YoY basis and a modest 5.53% rise on a MOM basis.

Nio Inc NIO January deliveries saw a growth of 352.1% on a YoY basis and a 3.1% rise over December figures. 

Market leader Tesla Inc TSLA reported fourth-quarter deliveries at 180,667 vehicles on a global basis, a 61% YoY increase.

Price Action: Li Auto shares closed 0.65% lower at $32.04 on Monday and gained nearly 0.6% in the after-hours session.

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Photo courtesy: Wikimedia