Li Auto

Li Auto acknowledged its slowdown in action during a strategic meeting, planning to speed up product release pace and expand overseas market efforts.

Analysts estimate the Li Mega recall could drag down Li Auto's profits by RMB 1.14 billion.

Li Auto delivered 93,211 cars in the third quarter, down 39.01 percent year-on-year and down 16.08 percent from the second quarter.

This marks Li Auto's sixth major organizational restructuring this year.

All four of Li Auto's EREV models saw monthly deliveries plummet over 60 percent, while the i6 and i8 each delivered nearly 6,000 units in October.

Cumulative deliveries for both the Li L6 and Li L7 have surpassed 330,000 units, while the Li L8 has exceeded 250,000 units and the Li L9 has surpassed 280,000 units.

Li Auto delivered 31,767 vehicles in October, marking a 38.25 percent year-on-year decline and the fifth consecutive month of significant year-on-year drop.

Li Auto will recall 11,411 units of 2024 Li Mega MPVs starting November 7 due to a risk of battery fires.

From January to September, Li Auto's deliveries fell 13.07 percent year-on-year, while Xpeng surged 217.77 percent.

A Li Mega caught fire after sparks emerged from its chassis while passing a traffic light, with flames engulfing the entire vehicle within seconds.