Li Auto

In January and February, insurance registrations for passenger cars in China were down more than 25 percent from a year earlier, Li Auto CEO said, citing insurance registration data.

If electric cars can be sold to consumers without batteries, the cost can be lower than fuel cars, said Li Xiang.

Li Auto's delivery guidance for the first quarter is 52,000 to 55,000 vehicles, and the latest figures mean it is on track to deliver between 20,239 and 23,239 vehicles in March.

At the end of January, Li Auto had 272,475 cumulative deliveries and more than 70 percent of its owners had installed home chargers.

Li Auto has an internal goal of 25,000-30,000 monthly deliveries and will aim to achieve that goal in the second quarter.

If Li Auto maintains the current level of demand for the second half of the year, there would be upside to consensus estimates, according to Edison Yu's team.

Li Auto guided for first-quarter deliveries of 52,000 to 55,000 vehicles, meaning it expects to deliver a total of 36,859 to 39,859 vehicles in February and March.

Deutsche Bank believes the true test for Li Auto will come in the second half of the year.

Li Auto has previously released data showing it delivered 46,319 vehicles in the fourth quarter, up 31.51 percent year-on-year and up 74.63 percent from the third quarter.

Li Auto said City NOA's real-time HDMapNet-based road structure awareness algorithm can sense and make decisions in real-time based on its surroundings, just like a human.