Morningstar

Li Auto Inc ADR

LI: XNAS (USA)

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Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$47.50	Yxnq	Bqqnmpdky

Li Auto’s Q3 Vehicle Margin Missed on Oneoffs; FVE Reduced on Lower Delivery and Rising Expenses

Dec 12, 2022

Business Strategy and Outlook

Li Auto is a leading new energy vehicle, or NEV, manufacturer in China, producing large plug-in hybrid electric sport utility vehicles, or SUVs, for family car use. The six-seater Li One SUV is built on its proprietary extended-range electric vehicle technology, offering total driving range of 800 km. Unlike competitors, Li Auto adopts a single point pricing strategy with Li One selling at CNY 349,800 for enhanced price transparency. The new model pipeline, the full-size SUV L9, built on the company’s new-generation plug-in hybrid powertrain platform, is set to start delivery in third-quarter 2022 priced at CNY 459,800. It also plans to release at least two pure electric models in addition to plug-in electric vehicles, or PHEVs, in 2023.

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