Deliveries slide in January for Chinese electric car start-up Li Auto

A Li Xiang One hybrid SUV is on show throughout the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 23, 2020 in China.

Li Zhihao | Visual China Group | Getty Images

BEIJING — As 2021 kicks off, a slide in January deliveries places Chinese automaker Li Auto in third place behind its start-up rivals Nio and Xpeng.

Nasdaq-listed Li Auto mentioned late Monday, Eastern Time, it delivered 5,379 Li One SUVs in January. That’s down from 6,126 in December and beneath Nio’s 7,225 and Xpeng’s 6,015 deliveries for January.

Li Auto additionally introduced it’s organising a brand new analysis and improvement middle in Shanghai for autonomous driving and different electric vehicle-related applied sciences.

Shares of Li Auto fell probably the most amongst its friends in U.S. buying and selling Tuesday, down 5.7% versus losses of about 4.6% for Xpeng and a couple of.1% for Nio. Tesla shares rose 3.9%.

Competition for high-end electric SUVs elevated in January with Tesla saying it might quickly start deliveries of its China-made Model Y at a worth near that of automobiles from Nio and Li Auto. Tesla delivered 180,570 electric automobiles worldwide in the final three months of 2020 alone.

The Li One SUV is Li Auto’s first and solely mannequin up to now. It was the best-selling high-end electric SUV in 2020 and even made it into the highest 10 checklist for high-end SUVs general, together with Nio, in keeping with China’s Passenger Car Association.

Morgan Stanley analysts mentioned the Li One SUV stands out for its gas tank that may cost the battery and lengthen the driving vary by 620 kilometers (385 miles) to a complete of 800 kilometers.

One of Chinese customers’ greatest issues about shopping for an electric car is whether or not it would run out of battery energy too rapidly, with no charging station close by or lengthy charging instances.

January’s deliveries of 5,379 Li One SUVs nonetheless marked a four-fold improve from the identical interval a yr in the past, and cumulative deliveries have surpassed 38,900 because the car’s launch in December 2019, in keeping with Li Auto.

That’s lower than half of the over 82,800 automobiles Nio mentioned it had cumulatively delivered as of the tip of January. Nio has three SUV fashions in the marketplace, and plans to start deliveries of a sedan subsequent yr.

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