Thursday, November 4, 2021

Electric cars: Li Auto (NASDAQ:LI)

Li Auto Inc., also known as Li Xiang, is a Chinese electric vehicle manufacturer headquartered in Beijing, with manufacturing facilities in Changzhou. 
  • Founder and CEO: Xiang Li (2015–)
  • Founded: 2015
  • Headquarters: Beijing, China
  • Full Time Employees: 6,596
  • IPO: July 2020 (Nasdaq)
  • https://www.lixiang.com/
Li Auto competes directly with Tesla (TSLA) and Nio (NIO) in the high-end EV market. The company debuted its first and only model, an electric hybrid SUV called the Li ONE, in December 2019. That vehicle carries a price tag ranging from $29,000 to $76,000 and was one of China's top-10 sellers across all fuel types in 2020.
Li Auto's October 2021 deliveries totaled 7,649 vehicles. That number is up from 7,096 in September and a 107% year-over-year increase. Global chip shortages have weighed on production outputs for automakers like Li. But that supply-chain kink seems to be easing. LI stock edged lower on the news.



Li Unveils 2021 SUV Model
Li Auto rolled out the 2021 version of the Li ONE on May 25. The latest model includes upgrades to its advanced driver-assistance system (ADAS) and powertrain systems.

These improvements will extend the range capacity of the Li ONE to 1,080 kilometers, or 671 miles. Deliveries of the vehicle began in June.

Li Auto's focus on cost-effective SUVs is the heart of its business strategy. The company was one of the first to successfully commercialize Extended Range Electric Vehicles (EREVs), which require a smaller battery pack. A smaller battery means lower production costs. And multiple power sources provide consumers with a practical solution to China's notorious lack of battery charging infrastructure.

Unlike most other electric vehicles, Li Xiang One is a plug-in hybrid vehicle (PHEV), which can be powered by either petrol or electricity

IPO: July 2020 (Nasdaq)

Founder and CEO Xiang Li 

Before Li Auto, Xiang Li established Autohome, a site for consumers to shop online for cars. By 2008, Autohome became China’s leading online platform for car dealers and consumers with its AI-generated content, comprehensive automobile library and extensive car listings. The company had an impressive 90 per cent market share.

In 2013, Autohome was listed on the New York Stock Exchange with a market value of US$3 billion.

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