Li Xiang, CEO of Li Auto, took to Weibo within the late hours of May 25, 2023, to precise his satisfaction within the firm’s intensive use of home Chinese suppliers. This announcement comes amidst criticism for the corporate’s heavy reliance on native suppliers. However, Li Xiang is unphased by the criticism, stating, “Consumers dare to buy Chinese brand cars, so we dare to boldly use Chinese local supply chain enterprises.”
Li Auto‘s collaboration with home suppliers spans varied elements of their automobiles, together with domestically produced chips by Horizon and Xinzhi, reminiscence storage by Changxin, lidar by Hesai, batteries by CATL and Xingwangda, air suspension by Konghui and Baolong, brake techniques by Bertli, and HUD by Future Black Technology. These partnerships signify a robust dedication to joint analysis and growth, verification and manufacturing, and in-depth involvement in every stage and element.
The domestication fee of chips in Li Auto‘s L sequence has exceeded 25%, making it one of the automotive fashions with the best chip domestication fee. This achievement is the consequence of important investments in analysis and growth, in addition to experimental prices. Li Xiang is proud of this feat and isn’t afraid of criticism on this regard.
Li Xiang additionally famous that the high-pressure gas tank of the Li ONE was developed by a South Korean firm, as there have been no home suppliers succesful of creating such a part on the time. He then revealed that via joint analysis and growth, Li Auto supported a home firm in efficiently creating a high-pressure gas tank, with the manufacturing plant situated subsequent to Li Auto‘s Changzhou manufacturing facility.
SEE ALSO: Li Auto’s Q1 Revenue Increases by Nearly 100% YoY, Delivery Target of 30,000 EVs Set for June
On May 10, 2023, Li Auto introduced its Q1 2023 monetary outcomes, showcasing a complete income of 2.67 billion USD, a year-on-year enhance of 96.5%. The firm reported optimistic working revenue and internet revenue. It additionally hit a brand new report in free money movement, reaching 951 million USD.
Li Auto said that they achieved their greatest single-quarter supply ends in Q1. Thanks to buyer recognition of the Li L8 and Li L9, and robust order quantity and speedy manufacturing ramp-up of the Li L7, Li Auto‘s single-quarter deliveries reached 52,584 items, a year-on-year enhance of 65.8%. This efficiency ranks them among the many high three in gross sales quantity of new power manufacturers priced above 200,000 RMB in China, with a market share of roughly 11%, far exceeding different new energy manufacturers.
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