Li Auto reported a sequential increase in vehicle deliveries in May, rebounding from a dip in April. The Chinese electric vehicle maker delivered 40,856 units last month, up 16.66 percent year-on-year from 35,020 in May 2024 and up 20.38 percent month-on-month from 33,939 in April, according to data released on Friday.
From January through May, Li Auto delivered a total of 167,659 vehicles, marking an 18.73 percent increase compared with the same period last year. Since its inception, Li Auto has accumulated total deliveries of 1,301,531 vehicles as of the end of May.
See also: Li Auto Begins Mass Production of Premium Li Mega Home MPV
Despite the delivery growth, Li Auto reportedly lowered its 2025 sales target from 700,000 units to 640,000 units, according to a recent local media report.
The company currently offers several extended-range electric vehicles (EREVs) including the Li L9, L8, L7, L6, and the all-electric Li Mega MPV. The updated Li Mega MPV, launched in late April with a higher-priced Home variant, began deliveries in late May with production ramping up faster than anticipated. Li Auto said in the release: “Orders significantly exceeded expectations.”
See also: Li Auto Updates L-Series EREVs With New Features, Maintains Pricing
Looking ahead, Li Auto plans to launch its first pure electric SUV, the Li i8, in July, followed by another electric SUV, the Li i6, in September. Both models are SUVs, with the Li i8 featuring six seats and the Li i6 having five.
The company’s CEO and founder Li Xiang commented during an earnings call on May 29 that sedan models are not currently a priority. “Li Auto would only launch sedan products based on market demand once its annual revenue reaches RMB 300 billion ($41.7 billion) and its product portfolio reaches a certain scale,” he said.
Li Auto’s 2024 revenue was RMB 144.5 billion. The Chinese market trends show SUVs as the dominant vehicle segment, accounting for 49 percent of passenger vehicle retail sales in 2024, followed by sedans at 46 percent and MPVs at 5 percent.
As of the end of May, Li Auto operates 506 retail stores in 152 cities and 502 service centers in 222 cities, along with authorized body and paint shops. The company also runs 2,414 supercharging stations with 13,195 charging stalls across China, aiming to complete its 2,500th station by June to support the upcoming Li i8 launch.
