Zinger Key Points
- Li Auto appoints Xia Zhongpu to lead end-to-end tech, signaling a push for advanced smart driving solutions.
- Li Auto expects Q4 revenue growth of 3.5%-10% and vehicle deliveries up 21%-29%, despite ongoing economic challenges.
- Benzinga shares with you top insiders news
Li Auto Inc. LI shares saw a slight uptick in premarket trading on Friday following reported staffing changes within its smart driving team.
The Chinese electric vehicle (EV) maker has appointed Xia Zhongpu as the head of end-to-end technology delivery, a role that reports directly to Lang Xianpeng, the head of smart driving, reported CnEV Post.
This restructuring marks a significant shift as Li Auto pushes for long-term technological advancements in its EV offerings.
Xia’s behavioral intelligence department has been promoted to a first-tier unit, reflecting the company’s progress in end-to-end technology development. The move comes after Li Auto hit key milestones in its technology efforts. These changes signal the company’s commitment to enhancing its smart driving capabilities as it continues to innovate in the competitive EV market.
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Xia previously worked at Baidu, Inc’s autonomous driving team, where he focused on integrating planning and control in smart driving systems using AI neural networks. This technology is crucial for achieving an end-to-end solution.
Meanwhile, Shares of U.S.-listed Chinese stocks have seen gains recently following a report indicating additional Chinese fiscal stimulus after a critical economic meeting in December.
As said earlier, Li Auto expects fourth-quarter revenue of $6.2 billion—$6.5 billion, representing an increase of 3.5%–10.0% year over year.
LI expects fourth-quarter vehicle deliveries of 160,000—170,000, representing an increase of 21.4%–29.0% year over year.
According to Benzinga Pro, LI stock has lost over 39% in the past year. Investors can gain exposure to the stock via VanEck Low Carbon Energy ETF SMOG.
Price Action: LI shares are trading higher by 0.17% to $23.35 premarket at last check Friday.
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