Electrek headline: Li Auto (LI) falls short of estimates, delivering 28,687 Li ONE EVs on Q2 earnings
- Aug. 15th 2022 7:03 am PT
Covid lockdowns in China have put a damper on the economy. Furthermore, global economic conditions are deteriorating between rising interest rates and geopolitical tension. With this in mind, deliveries of the Li ONE increased by 21.3% from last year. Yet, deliveries fell 9.5% from the first quarter’s delivery total of 31,716. The last thing an EV startup wants to see while in its early stages is a slip in deliveries.
Since its launch in 2015, Li Auto has grown into a leading EV company in China, with over 184,400 deliveries of its first EV model, the Li ONE. But Li has yet to turn a profit, like many EV startups.
Despite delivering fewer vehicles, Li Auto lost more money from operations ($146.1 million) in Q2 than in the first quarter ($65.2 million), representing an increase of 137%.
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