Li Auto Inc. Achieves Milestone: Over One Million Deliveries in October 2024

Li Auto Inc. (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle (NEV) market, has achieved a significant milestone in October 2024, delivering over one million vehicles. This remarkable feat, accomplished just 58 months after its first delivery, highlights the company's rapid growth and success in the competitive Chinese NEV market.


Li Auto's record-breaking delivery performance in October 2024 was driven by robust sales across its model lineup, particularly the L-series EREVs. Factors contributing to this success include strong consumer demand, competitive pricing, and the company's expanding retail network. Additionally, Li Auto's commitment to innovation in electric vehicle technologies and smart vehicle solutions has enhanced its product offerings, attracting more customers. The company's strategic expansion into battery electric vehicles, as evident in the launch of the Li Mega MPV, has also contributed to its growth.


Li Auto's expansion of retail stores and charging infrastructure has significantly contributed to its delivery growth. As of October 31, 2024, Li Auto had 475 retail stores in 144 cities, 444 servicing centers, and 1,004 super charging stations in operation equipped with 4,910 charging stalls in China. This extensive network has enabled Li Auto to reach more customers and provide convenient charging solutions, driving its delivery growth. In October 2024, Li Auto delivered 51,443 vehicles, up 27.3% year over year, and achieved a significant milestone with over one million cumulative deliveries.

Li Auto's new autonomous driving architecture, announced on October 23, 2024, integrates an end-to-end (E2E) model and a vision-language model (VLM), and is now available to Li AD Max users on a full scale. This rollout is expected to enhance the appeal of Li Auto's vehicles, particularly the Li L6, Li L7, Li L8, Li L9, and Li MEGA models. The new architecture is designed to improve safety, convenience, and overall user experience, which may drive consumer demand and boost vehicle sales. As of October 31, 2024, Li Auto had delivered a total of 393,255 vehicles in 2024, with cumulative deliveries reaching 1,026,619. The company remains the sales champion of Chinese automotive brands in the RMB200,000 and above NEV market for seven straight months, and achieved a significant milestone with over one million cumulative deliveries in October.

In conclusion, Li Auto Inc. has demonstrated remarkable growth and success in the Chinese NEV market, achieving a significant milestone with over one million deliveries in October 2024. The company's focus on innovation, strategic expansion, and commitment to customer satisfaction has driven its delivery growth and solidified its position as a leading player in the market. As Li Auto continues to innovate and expand its offerings, investors should closely monitor its progress and consider the potential opportunities and risks associated with this dynamic sector.