Li Auto management said they expect to see deliveries top 50,000 in March and 70,000 in June.
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Li Auto (NASDAQ: LI) reported strong fourth quarter 2023 financial results today and held an analyst call afterwards.
Here are the key points mentioned by Li Auto's management during the call.
Li Auto expects to see deliveries top 50,000 units in March and 70,000 in June.
In March, Li Auto will launch the Li Mega MPV and will start deliveries of the model in the same month.
The 2024 Li L7, Li L8 and Li L9, too, will begin large-scale deliveries in March.
Li Auto is experienced in capacity creep for new products, with both the Li L9 and Li L7 seeing deliveries of more than 10,000 early in their launches. Its new factory and new workers are well-positioned to take advantage of this experience.
Li Auto's development of several new models is on schedule, the company is ahead of schedule with factory capacity planning and has plans in place for supply chain risks.
Looking into the next five years, there will be no model in Li Auto's lineup that costs less than RMB 200,000 yuan ($27,800).
Li Auto will launch the Li L6 in the second quarter, and in the second half of the year it will release three all-electric SUV models with standard 5C charging and a four-wheel-drive system.
Li Auto's Beijing plant, which began production at the end of 2023, is well-positioned for the delivery of the Li Mega in March and the production of subsequent all-electric models.
Li Auto added 106 new retail centers in the fourth quarter. As of January 31, Li Auto had 474 retail centers in China, and will increase the number to 800 by the end of the year, increasing its coverage of tier 3 and 4 cities.
Overseas markets are important to Li Auto, and the company has been able to start exploring them and is accelerating.
Li Auto will continue to adhere to its direct sales model in overseas markets and will build a sales network as well as a comprehensive after-sales service.
Li Auto has already set up operations in the Middle East, launching the recruitment of a local sales and service team in Dubai.
The company plans to establish a dedicated after-sales service network in Central Asia and the Middle East in the first half of this year.
Li Auto plans to start delivering vehicles overseas in the fourth quarter of this year, and the first models available will be the Li L9 and Li L7, with plans customized to local circumstances and policies.
($1 = RMB 7.1974)
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