Li Auto surpasses Audi in weekly revenue, says CEO

Asian Tech Press (Nov 15) -- Chinese electric car startup Li Auto (NASDAQ: LI) has surpassed Audi in terms of revenue last week, the company's CEO said on Tuesday.

Li Auto disclosed on Tuesday that it sold 10,000 units in the 46th week of 2023, i.e., from Nov. 6 to Nov. 12, the company said.

As of Nov. 12, sales for the month had reached 15,400 units, the electric carmaker said.

Li Xiang, founder and CEO of Li Auto, posted on Weibo, China's version of Twitter, saying, "This week's sales of the Li L7, L8, and L9 are infinitely close to those of Mercedes-Benz and Audi, and weekly revenue has already surpassed that of Audi."

Li Auto released its third-quarter results on Nov. 9, revealing that the company achieved revenue of 34.68 billion yuan ($4.75 billion), up 271.2% year-on-year.

Looking ahead to the fourth quarter of the year, the automaker expects quarterly deliveries to reach 125,000 to 128,000 units, an increase of 169.9% to 176.3% from the same period a year ago.

Founded in 2015, Li Auto recorded its fourth consecutive quarterly profit and accumulated 6.323 billion yuan since it first turned profitable in the fourth quarter of 2022.

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