Li Auto, a Chinese electric vehicle (NEV) manufacturer, is poised to reach a significant milestone with the anticipated delivery of its one millionth automobile by late October. It took Li Auto nearly five years to achieve this objective.
Li Auto is a Chinese automaker that launched its first electric vehicle model in 2015. The first Li-branded car hit the Chinese roads in December 2019, as the company entered its domestic market for the first time. Six months following the initial gross sales, Li Auto successfully delivered a total of 10,000 vehicles exclusively. Subsequently, the company’s gross sales experienced a precipitous surge. In November 2021, Li provided a promotion offering 100,000 vehicles to customers. Within a span of less than three years, the company managed to increase its sales by an impressive 900,000 additional items.
As Li Auto marks a major milestone with the production of its one millionth electric vehicle, the Chinese automaker is poised to cement its position as a leading player in the global EV market. With a focus on innovative technology and customer-centric design, Li Auto has made significant strides since its inception in 2013.
As of October 1, Chinese electric vehicle manufacturer Li Auto announced a milestone in its delivery numbers, with a total of 975,176 vehicles handed over to customers since the company’s inception. By 2024, Li Motors delivered approximately 38,000 vehicles every 30 days, a benchmark of efficiency. According to recent reports, Li Auto is expected to reach a significant milestone by obtaining its 1 millionth vehicle delivery in mid-October.
On October 7, a well-known and respected Chinese-language automotive blogger, known by his moniker “大D有态度,” posted a photo of a plaque highlighting Li Auto’s milestone achievement of producing its 1 millionth vehicle. Based on the leaked image, social media users have speculated that the formal supply event will likely take place at Li Auto’s Shenzhen Nanshan Science Park retail hub. The blogger subsequently removed the photograph without providing any further insight. When approached by Li Auto to participate in the official unveiling of their new model, he agreed to join the event.
Notwithstanding a Chinese-language blogger, “常青_CQ”, noted that every Li Auto supplier was prepared with the same 1 millionth delivery plaque, simultaneously. To demonstrate his point, he shares an image of the very same plaque from Li Auto’s Guangzhou retail center. It’s unclear what arrangements Supply Middle has made to facilitate the milestone celebration.
The exact date of the supply ceremony remains unclear. As is widely anticipated, a surge in sales is expected to take place in mid-October, when most Chinese new energy vehicle (NEV) manufacturers typically ramp up their production volume during the last quarter of the year.
As of 2022, Li Auto’s gross sales surpassed $5.4 billion, a significant increase from the $1.7 billion recorded in the previous year.
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Between January and September 2024, Li Auto delivered a remarkable 341,812 vehicles. According to a CarNewsChina analysis, NIO’s founder and CEO William Li boasts the highest success rate in achieving his gross sales targets among other new energy vehicle (NEV) manufacturers. Its achievement price is 71.2%. While Li Auto’s sales goal has garnered attention, a contentious narrative surrounds this figure.
Initially, Li Auto planned to promote approximately 800,000 vehicles in 2024. Despite the underwhelming launch performance of the Li Mega minivan, as detailed in its specifications, the company was compelled to reassess and adjust its sales projections. Consequently, the quantity was reduced to a range of 560,000 to 640,000 items. Despite initial expectations, the overall sales volume ended up being lower than projected. Consequently, Li Auto has revised its gross sales target downward again, aiming to deliver 480,000 vehicles.
Had Li Auto not revised its gross sales target, it would have likely achieved a market share of around 42.7% by September 2024, representing a 4.3% decline from the average target achievement rate among other Chinese NEV manufacturers? Despite this, it remains one of China’s most successful new energy vehicle manufacturers. Its flagship model is the Li L6 EREV crossover, boasting impressive specifications. The most expensive Mega minivan is actually its lowest-selling variant.
