Li Auto Cuts Q3 Delivery Outlook Hit By Supply Chain Woes

by Shivani Kumaresan, Benzinga Staff Writer

September 26, 2022 7:14 AM | 1 min read | Make a Comment

Li Auto Inc LI has cut its third-quarter vehicle delivery outlook to 25,500.
The previous outlook provided by the company was 27,000 - 29,000 units.
The guidance downgrade is due to the continuation of the supply chain bottleneck, said Li.
Also Read: Li Auto August Delivery Falls 52%
The company plans to collaborate closely with its supply chain partners to resolve the issue and accelerate production.
Li’s Q2 deliveries fell 9.6% sequentially, and revenue grew 73% Y/Y.
The Chinese company designs, develops, manufactures, and sells smart electric vehicles.
Price Action: LI shares are trading lower by 2.84% at $24.29 in premarket on the last check Monday.
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