Li Auto

Li Auto will begin commercializing its M100 chip next year, hoping it will deliver a significant upgrade to the user experience of its products.

Li Auto aims for the device to serve as a gateway for more users to experience its AI capabilities as it strives to become a global AI leader.

Li Auto posted a net loss of RMB 624 million yuan ($87.7 million) in the third quarter, marking its first return to a loss since the fourth quarter of 2022.

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.