Key points:
- Li Auto delivered a total of 31,716 vehicles, including 11,034 Li ONE SUV'S
- Despite solid growth, the company couldn't operate at full capacity due to Covid limitations
- The Company's L9 SUV is expected to hit the market on April 16th
EV investors have pivoted towards China lately, making the most of US-listed Chinese stocks as a route towards a one-step-ahead EV landscape. While US manufacturers are somewhat hinged to a widespread lack of new energy infrastructure, and that vehicle owners are still some way away from the ubiquitous EV vision of China, the ability to buy into a piece of the booming sector has seen a particular focus on companies like Li Auto (NASDAQ: LI) and its US-listed competitors Xpeng and Nio.
March was a promising month for Chinese EV stocks, with deliveries remaining strong across the board. Li Auto announced a rebound of deliveries in February, but in March resurging Covid cases resulted in a slight hit to production.
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Over March, the popular manufacturer delivered 11,034 Li ONE SUVs, a 31% rise from February. Overall, Li delivered 31,716 vehicles, which results in a 152.1% year-on-year rise. Despite the company's evident monthly growth, the company wasn’t able to operate at maximum capacity due to a shortage of certain parts resulting from resurging Covid-19 cases in the Yangtze Delta region; the location of the Li Auto factory.
This month, Li will announce the release of its next hotly-anticipated vehicle in order to combat tightening competition, the L9 SUV, expected to hit the market on April 16th. On another note, sentiment toward Chinese stocks is positive after a report that Beijing will allow U.S auditors full access to over 200 Chinese companies listed on US exchanges; easing delisting fears that weighed on a large number of Chinese stocks. LI shares are currently trading at a solid gain of 8% following today’s delivery update.
