What's Going On With Li Auto Shares Today?

Li Auto Inc. LI shares are trading lower on Tuesday.

On December 31, the company said it expects to launch Li MEGA officially on March 1, 2024, and to commence deliveries in early March 2024.

Earlier in November, the company said it would officially launch Li MEGA in December 2023, with showroom models available in Li Auto retail stores starting in January 2024 and delivery of Li MEGA in late February 2024.

Meanwhile, the company delivered 50,353 vehicles in December 2023, up 137.1% year over year, and successfully achieved its monthly delivery target of 50,000 vehicles.

This brought the company's fourth-quarter deliveries to 131,805, up 184.6% year over year. 

Total deliveries in 2023 increased by 182.2% year over year to 376,030. 

As of December 31, 2023, Li Auto's cumulative deliveries surpassed 600,000 vehicles, the highest among Chinese emerging new energy automakers, as per the company.

"We successfully reached our monthly delivery target of 50,000 vehicles in December and achieved full-year vehicle deliveries of 376,030 in 2023," commented Xiang Li, chairman and chief executive officer of Li Auto.

As of December 31, 2023, the company had 467 retail stores in 140 cities, as well as 360 servicing centers and Li Auto-authorized body and paint shops operating in 209 cities.

Also Read: EV Showdown 2024: Tesla, BYD, NIO, XPeng, Li - Which Offers Greater Value?

Price Action: LI shares are trading lower by 7.72% to $34.54 on the last check Tuesday.

Photo via Company