Li Auto eyes sales of 800,000 EVs next year, up 116%

Asian Tech Press (Nov 23) -- Chinese electric car startup Li Auto (NASDAQ: LI) expects to sell 800,000 units next year, a 116% increase, according to The Paper.

Li Auto gave a 2024 sales forecast of 800,000 units to supply chain companies, Chinese media outlet The Paper reported on Wednesday, citing supply chain authorities.

At the end of each year, automakers provide supply chain companies with sales forecasts for the following year so that they can arrange production capacity plans accordingly, but the annual capacity forecasts usually undergo multiple adjustments as the market environment changes, according to the report.

For this sales target, a Li Auto official responded that the company has not yet disclosed its specific target figures for 2024, including production capacity, and that in general it hopes to embrace challenge of being the No. 1 luxury brand in 2024.

Li Auto disclosed data showing that it sold a total of 244,225 units in the first three quarters of this year.

In its third-quarter financial report, Li Auto gave a delivery guidance of 125,000 to 128,000 units for the fourth quarter, with year-on-year growth of 169.9% to 176.3%.

This means that the automaker may finish with sales of around 370,000 units in 2023.

And to meet its sales target of 800,000 units in 2024, Li Auto would need to sell an additional 430,000 units over this year, representing a 116% increase.

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