Li Auto Hits 900,000 Cumulative Deliveries Milestone, First Chinese New Car Maker To Reach The Mark: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 21 2024
0mins
Source: Benzinga
Li Auto Achieves Delivery Milestone: Li Auto Inc has reached a significant milestone of 900,000 cumulative vehicle deliveries within 56 months of its first delivery, making it the first Chinese new car maker to achieve this feat. The company delivered 26,655 vehicles in July alone.
Market Performance and Industry Context: Despite the milestone, LI stock has seen a decline of over 47% in the past year, but shares rose by 3.69% recently. The Chinese EV industry is facing challenges such as weak domestic demand and tariffs, yet it is receiving support from government stimulus plans.
Analyst Views on LI
Wall Street analysts forecast LI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LI is 21.12 USD with a low forecast of 17.00 USD and a high forecast of 32.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
2 Buy
8 Hold
1 Sell
Hold
Current: 16.690
Low
17.00
Averages
21.12
High
32.00
Current: 16.690
Low
17.00
Averages
21.12
High
32.00
About LI
Li Auto Inc is a holding company primarily engaged in the design, development, manufacturing, and sales of smart electric vehicles. The Company’s main products include the Li L9, Li L8, Li L7, Li L6, and Li MEGA, encompassing six-seat sport utility vehicles (SUVs), five-seat SUVs, and multi-purpose vehicles (MPVs). The Company is also engaged in research and development activities relating to intelligent vehicle technologies, the design, development and manufacturing of various components and systems for new energy vehicles, and the provision of value-added services such as charging, vehicle maintenance and repair. The Company mainly conducts its businesses within domestic market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
