Chinese electrical car maker Li Auto witnessed its income in the fourth quarter final 12 months enhance by 66.2% year-on-year to 17.65 billion yuan ($2.54 billion). Its 2022 income was 45.29 billion yuan ($6.53 billion), up 67.7% year-on-year.
However, its annual working loss was 3.65 billion yuan ($526 million). With 133,200 autos delivered final 12 months, the typical loss per unit was 27,400 yuan ($3,950).
On the earnings convention name, Li Xiang, CEO of Li Auto, shared that whereas over 20,000 autos have been delivered in December, their supply plan was radical and exerted extreme stress on the provision chain. With the launch of a number of fashions final 12 months, new challenges emerged for the corporate and its suppliers spanning planning, manufacturing, gross sales, and supply.
Li Auto targets to ship between 52,000 to 55,000 autos in the primary quarter of 2023, up between 64% and 73.4% year-on-year. With each the L7 and L8 fashions obtainable in the marketplace, the corporate tasks to ship over 30,000 autos monthly in the second quarter.
In 2023, Li goals to achieve 20% market share of the SUV market section throughout the value vary of 300,000 yuan ($43,267) to 500,000 yuan ($72,112). This objective is greater than double its 9.5% market share of the identical section in 2022.
Models priced between 200,000 yuan ($28,851) and 300,000 yuan ($43,267) are an space of focus for the corporate’s enterprise enlargement technique. Li commented that these fashions require a larger supply quantity to attain the breakeven level.
SEE ALSO: Li Auto Launches Flagship SUV Li L7
Furthermore, Li pointed to the significance of charging comfort for the way forward for pure electrical autos, “It is very important to achieve a charging experience similar to that of fuel vehicles. For that, infrastructure is key. Ultra-high voltage fast charging is the solution.”
For electrical car corporations, the upcoming decline in lithium costs this 12 months is undoubtedly an awesome profit. Ma Donghui, President of Li Auto, mentioned, “We believe that battery cost reduction is good news for improving the competitiveness of electric vehicles, as well as for battery makers. Regarding the purchase price of batteries, negotiations are still under way with our partners.”
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