Li Auto Team

Analysts estimate the Li Mega recall could drag down Li Auto's profits by RMB 1.14 billion.

This marks Li Auto's sixth major organizational restructuring this year.

Li Auto has withdrawn a new sales system that had been in place for less than six months amid intensifying market competition and short-term sales pressure.

Li Auto president Ma Donghui has become the head of smart car strategy, thus freeing up CEO Li Xiang to focus on AI, according to local media.

Li Auto opened an R&D center in Munich, Germany, which it said is the first step in its global R&D strategy.

Li Auto has designated a head for end-to-end technology and is betting further on next-generation end-to-end solutions, according to local media.

This is the second cut after Li Auto lowered its 2024 sales target from 800,000 units to 560,000-640,000 units.

Li Auto has merged its sales and delivery teams to eliminate possible conflicts of interest between the two in order to better sell cars.

Thousands of completed Li Megas are currently parked in the parking lot of Li Auto's Beijing plant, according to local media.

Li Auto is reportedly undergoing massive layoffs that could involve more than 5,600 people, as sales fall short of expectations, according to local media.