BEIJING – Li Auto (NASDAQ:) Inc. (NASDAQ:LI; HKEX:2015), a prominent player in China’s new energy vehicle market, has reported a slight increase in vehicle deliveries for April 2024. The company delivered 25,787 vehicles, marking a 0.4% year-over-year growth. As of the end of April, cumulative deliveries of Li Auto vehicles stood at 739,551.
The company’s chairman and CEO, Xiang Li, noted the successful debut of the Li L6, the first model priced under RMB300,000, which has attracted considerable interest from young families. Li Auto plans to begin large-scale deliveries of the Li L6 in May.
In addition to the delivery update, Li Auto announced a customer incentive for the May Day holiday, offering complimentary charging services at all its super charging stations. The company also revealed an upcoming over-the-air (OTA) update, version 5.2, which will enhance the capabilities of its autonomous driving systems, Li AD Pro and Li AD Max. This update will include improvements to automated parking and active safety features, and will introduce compatibility with voice control through Siri.
Li Auto’s retail presence as of April 30, 2024, includes 481 stores across 144 cities, supported by 361 servicing centers and authorized body and paint shops in 210 cities. The company has also established 386 super charging stations equipped with 1,678 charging stalls nationwide.
The company continues to focus on user value, aiming to deliver products and services that contribute to family happiness. Li Auto has been a pioneer in the commercialization of extended-range electric vehicles in China, with production starting in November 2019. Its current model lineup features a range of family-oriented SUVs and MPVs.
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This news is based on a press release statement from Li Auto Inc .
InvestingPro Insights
As Li Auto Inc. continues to make strides in the electric vehicle market, recent performance metrics from InvestingPro offer a glimpse into the company’s stock market activity. In the week leading up to April 30, 2024, Li Auto’s stock provided a 1.33% total return to investors, underscoring a steady market presence with a price close to its 52-week high at 97.79%. Over the past six months, the total return has been 2.89%, indicating a consistent trajectory in shareholder value.
An InvestingPro Tip notes that Li Auto’s stock generally trades with low price volatility, which may appeal to investors looking for stability in the often-tumultuous EV market. However, potential investors should be aware of the company’s weak gross profit margins and the implication of a poor free cash flow yield as per other InvestingPro Tips. It’s also worth noting that Li Auto does not pay a dividend, which could be a consideration for income-focused investors.
For those considering a deeper investment in Li Auto, InvestingPro offers additional insights. There are more InvestingPro Tips available that can provide a comprehensive analysis of Li Auto’s financial health and market performance. To explore these insights and make informed investment decisions, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Visit https://www.investing.com/pro/2015 to discover the full range of InvestingPro Tips for Li Auto Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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