China’s electric vehicle (EV) market is stronger than ever, and homegrown company Li Auto is taking the lead. Not just keeping pace with, but also frequently being compared to U.S. giant Tesla, Li Auto has hit yet another milestone. The Beijing-based EV maker announced a record-breaking 36,060 vehicle deliveries for September. That’s a 3.3% rise from the previous month and a staggering 212.7% increase year on year.
Li Auto Shipped over 100,000 vehicles in the third quarter of 2023
While Tesla initiated a price war that ended in May, its ripples are still affecting the market. Chinese consumers, who had been holding off for discounts, are now setting their sights on local heroes like Li Auto and BYD. Li Auto, in particular, has been successful in capturing this pent-up demand, shipping 105,108 vehicles in just the third quarter, a 296.3% jump from last year’s figures.
It’s not just the numbers that tell the story; it’s also about innovation and infrastructure. Li Auto rolled out an over-the-air software update last month, giving their Li L series an edge in user experience. What’s more, the firm has successfully set up more than 100 supercharging stations nationwide, simplifying the lives of EV owners.
But it’s not all smooth sailing for everyone in the Chinese EV market. While other major players like Xpeng and Nio are also posting strong numbers, they haven’t managed to keep the momentum going at the same rate as Li Auto. Nio saw a 19% drop from August in its September deliveries, while Xpeng’s new SUV model, the G6, experienced a 41% sales drop last month.
CEO Xiang Li credits the success to “numerous historic breakthroughs” in response to “ever-increasing market demand.” As the Chinese government pushes for more sustainable modes of transportation, Li Auto seems perfectly positioned to take the lead, offering customers both innovation and reliability. Expect to see more from Li Auto as it seeks to solidify its standing as a powerhouse in China’s rapidly evolving EV landscape.
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(Via)
