Li Auto

The Li L9 is comparable in size to the Mercedes-Benz GLS and BMW X7, but with a price tag of about $68,650 it is less than half the price of the flagship SUVs from the two German luxury automakers.

Li Auto has produced thousands of L9 SUVs, which will be shipped to all its stores in July and deliveries will begin in August.

Li Auto's parts suppliers in the Yangtze River Delta region have not fully recovered, and it continues to experience challenges with parts supply shortages, the company said.

The base will start construction in mid-June, with prototype production expected to begin in May 2023 and full production in 2024.

Li Auto originally planned to sell 200,000 vehicles this year, but now believes that target will not be met given the current challenging macroeconomic environment, according to LatePost.

Li Auto will build on the LWG platform to develop more environmentally friendly products, the company said.

Dismissing an offer or laying off employees is normal for a company, but in China, things get delicate when it comes to groups that are considered disadvantaged.

Li Auto reported solid Q1 results while Q2 guidance was somewhat soft given uncertainty around the Covid recovery cadence.

Li Auto's guidance for second quarter deliveries is 21,000-24,000 vehicles, meaning it expects 16,833-19,833 combined deliveries in May and June.

Edison Yu's team lowered their price target on Li Auto by $6 to $28, based on 3.0x 2023E EV/Sales, down from 3.5x previously.