Li Auto

Li Auto is ramping up its efforts to develop chips in-house, working on both an AI inference chip for smart driving scenarios, and a SiC power chip for driving motor controllers, according to local media.

The Hang Seng Index is one of the earliest stock indices in Hong Kong, and since its launch on November 24, 1969, it has become an important indicator of Hong Kong's stock market.

Li Auto's own smart driving team will instead focus more on the development of the AD Max system that comes with its highest priced models, according to local media.

Customers can reserve the Li Mega by paying a refundable RMB 5,000 for priority delivery. Deliveries of the model will begin at the end of February.

Li Auto said the Li Mega will be priced at less than RMB 600,000, with an official launch in December and deliveries starting in February.

Li Auto will hold a press event at the Guangzhou auto show on November 17 from 9:20 am to 9:40 am, at which time the Li Mega will begin accepting pre-orders.

All three Li Auto models delivered more than 10,000 units in October, and all were record highs.

Li Auto's third-quarter results were somewhat mixed, with a strong outlook for fourth-quarter sales, according to Deutsche Bank.

Li Auto reported gross margin of 22.0 percent in the third quarter, higher than 12.7 percent in the same period last year and 21.8 percent in the second quarter.

While demand for Li Auto's vehicles remains robust, investor concerns about competition have increased, particularly around Huawei-backed Aito, said Deutsche Bank analyst Edison Yu's team.