Li Auto

The project is expected to further drive suppliers closer to Li Auto, thereby reducing costs and improving supply chain reliability.

Li Auto's management could achieve its goal of transitioning from EREV to BEV, but the road ahead could get much rockier, said Edison Yu's team.

Li Auto CEO said the X03 will surpass the Rolls-Royce Cullinan in terms of rear space and comfort.

Deliveries of the Li L9 will begin this month, and Li Auto expects the model's volume to exceed 10,000 units in September.

Speculation about the Li L8 may have led to a delay in consumer purchases of the Li ONE, a bigger cannibalization than the Li L9, according to Deutsche Bank analyst Edison Yu.

While Li Auto management continues to believe that the new flagship full-size L9 SUV will sell very well, near-term demand for the Li ONE has been grossly overestimated.

Li Auto expects third quarter revenue to be RMB 8.96 billion to RMB 9.56 billion, below market expectations of RMB 13.98 billion.

The Li L8, internally codenamed X02, is built on the same platform as the Li L9, codenamed X01, and can be seen as a scaled-down version of the Li L9, according to some local media.

While the beginning of the month is usually slow for the auto industry, Li Auto's apparent lagging performance behind its peers may have raised some concerns.

Deutsche Bank raised its forecast for Li Auto's deliveries this year to 160,000 units from 155,000, but believes the company could face some incremental headwinds in 2023.