Li Auto Tag

26 Feb Li Auto forecasts first-quarter sales drop as competition sharpens in Chinese EV market, reports record profit

Posted at 12:45h in Asia

Li Auto, mainland China’s nearest rival to Tesla, has forecast lacklustre sales for the first quarter of this year, adding to evidence that the world’s largest electric-vehicle (EV) market is grappling with a slowdown.The Beijing-based carmaker said on Monday that it could deliver between 100,000...

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20 Feb Chinese EV maker Xpeng unveils capex blitz as it sees no let-up in market bloodbath

Posted at 10:43h in Asia

The letter goes on to say that 30 new models will be launched by the company over the next three years. Xpeng confirmed the contents of the letter.An Xpeng Inc. G9 electric vehicle at the Shanghai Auto Show on April 24, 2023. Photo: BloombergAccording to...

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19 Feb Chinese EV maker Human Horizons suspends manufacture of luxury HiPhi brand for 6 months as market competition intensifies

Posted at 12:38h in Asia

The Shanghai-based company told its employees on Sunday that it was implementing a six-month suspension of its luxury HiPhi brand, effective immediately, according to local financial media outlet Jiemian.Human Horizons declined to comment when contacted by the Post on Monday.Two sources with knowledge of the...

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07 Feb China EVs: Li Auto rewards hard-working employees with fat bonuses for surpassing 2023 sales target

Posted at 11:31h in Asia

Li Auto, mainland China’s nearest rival to Tesla, is giving huge bonuses to its employees after the electric-car maker’s deliveries in 2023 exceeded the target in a highly competitive market.The Beijing-based carmaker plans to grant annual bonuses ranging from four months to eight months...

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01 Feb Chinese EV builders Li Auto, Xpeng and Nio get 2024 off to a slow start, with sharp drop in January sales

Posted at 22:00h in Asia

“The month-on-month fall in deliveries appears to be bigger than what dealers had expected,” said Zhao Zhen, a sales director with Shanghai-based dealer Wan Zhuo Auto.“Consumers are more cautious about purchasing expensive items such as cars amid worries about job security and income reductions.”Chinese EV...

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15 Jan China EVs: CATL, world’s top battery maker, plans first plant in Beijing to supply Li Auto and Xiaomi

Posted at 11:40h in Asia

Contemporary Amperex Technology (CATL), the world’s largest electric vehicle (EV) battery manufacturer, will build its first plant in Beijing to tap the rising demand for battery-powered cars in mainland China.CATL’s plant will help China’s capital city form a complete supply-chain for EV production, as...

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14 Jan China price wars help spark US$157 billion rout in mainland consumer stocks as Alibaba, Yum China and BYD drag the market

Posted at 08:17h in Asia

Gauges of consumer stocks have been the worst performers on the MSCI China Index since the end of September, after the real estate measure. The aggregate market value of companies included in the two consumer indexes has fallen by about US$157 billion since.Consumer stocks...

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03 Jan China EVs: Xpeng and Li Auto roll out X9 and Mega MPVs aimed at rich buyers in bid to dominate segment

Posted at 23:30h in Asia

Xpeng and Li Auto, two of China’s leading electric vehicle (EV) makers, are battling for supremacy in the multipurpose vehicle (MPV) segment, targeting wealthy families amid a sluggish market.On Monday, Guangzhou-based Xpeng priced its newest model, X9 MPV, at 359,800 yuan (US$50,700), 7 per...

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