Blowing past a significant mark in October with one million cumulative deliveries, Li Auto (LI, Financial) has become the first premium Chinese car company to do so. With 51,443 automobiles recorded in October, the company’s YTD count comes to 393,255 units. Though it is a 4.2% drop from the 53,709 units sold in September, this shows a 27.3% YOY growth.
By October 31, Li Auto ran 475 retail stores in 144 cities, 444 service centers, and Li Auto-authorized body and paint shops spread across 223 Chinese cities. Emphasizing its ongoing infrastructure investment, the corporation also kept a sizable charging network with 4,910 terminals and 1,004 supercharging stations. While XPeng Inc. (XPEV, Financial) hit a record 23,917 deliveries, up 20%, YOY, Nio recorded a 30.5% YOY bump in October deliveries, totaling 20,976 vehicles among rivals. Reflecting investor hope as Li Auto increases its hold in China’s competitive EV industry, the U.S.-listed shares climbed 1.6% premarket Friday.
