Li Auto’s April Deliveries Surge as Premium Dominance and Innovation Fuel Growth

Li Auto Inc. delivered 33,939 vehicles in April 2025, a 31.6% year-over-year increase, marking its strongest April performance to date and pushing cumulative deliveries past 1.26 million units. The results underscore Li Auto’s resilience in China’s fiercely competitive premium EV market, where it has solidified its position as the top seller of SUVs priced above RMB200,000 for three consecutive quarters. With strategic product launches, infrastructure expansion, and a focus on family-centric design, Li Auto is positioning itself for sustained growth amid shifting consumer preferences and technological advancements.

Dominance in Premium Segments

Li Auto’s April results reflect its deepening control of China’s premium EV market. The company holds the largest share in three key segments:
- RMB200,000–300,000: Large SUVs
- RMB300,000–400,000: Large SUVs
- RMB400,000–500,000: Full-size SUVs

This dominance is driven by its Li L series and newly launched Li MEGA models, which emphasize spacious interiors and advanced features tailored to multi-generational families. The Li MEGA Home, for instance, introduced “zero-gravity” rotating seats and a “living room” mode that allows passengers to face each other—a design innovation that has captured over 90% of Li MEGA orders since its debut at the Auto Shanghai 2025 event.

Product Pipeline and Technological Ambitions

Li Auto’s April update also highlights its aggressive product expansion. In addition to the Li MEGA Home and Ultra variants, the company unveiled the Li L6—a five-seat premium family SUV targeting broader demographics—and plans a dedicated launch for its upgraded L series in May 2025. These moves aim to strengthen its portfolio across price points while maintaining a premium brand identity.

Technologically, Li Auto is betting on next-gen autonomous driving systems and open-source software. Its MindVLA architecture and Li Halo OS (to be open-sourced) signal a shift toward ecosystem-driven innovation, potentially attracting third-party developers and accelerating adoption of advanced features.

Infrastructure as a Competitive Advantage

Li Auto’s retail and charging networks continue to expand, addressing a key barrier for EV adoption. As of April 2025:
- 500 retail stores operate in 151 cities.
- 500 servicing centers cover 223 cities.
- 2,267 super charging stations provide 12,340 stalls nationwide.

This infrastructure not only supports existing owners but also attracts new buyers by reducing range anxiety and enhancing convenience.

Conclusion: A Strong Foundation for Sustained Growth

Li Auto’s April results and strategic initiatives paint a compelling picture for investors. Its 31.6% YoY delivery growth, coupled with 90% order traction for the Li MEGA Home, demonstrates strong consumer demand for its innovative designs. The company’s 1.26 million cumulative deliveries and three-quarters of premium SUV market leadership further validate its premium positioning.

Looking ahead, Li Auto’s infrastructure investments, product pipeline, and tech roadmap—such as its open-source Li Halo OS—position it to capitalize on rising demand for family-oriented EVs and advanced autonomous features. While macroeconomic headwinds and competition remain risks, Li Auto’s execution to date suggests it can sustain growth in high-margin segments. Investors should monitor upcoming L series launches and market share trends in its target price brackets as key catalysts. For now, the data points to a company well-positioned to lead China’s premium EV revolution.