Following the news, the pre-market share price rose by 3% as of October 19, 2020.
Li ONE. Image credit: Li Auto
According to the company’s official data, in September 2020 a total of 3504 Li ONEs were delivered, an increase of 29.3% from the previous month. The EV manufacturer has managed to deliver more than 18,000 units since the start of 2020.
Besides, according to the latest insurance data from the China Association of Automobile Manufacturers, in September 2020 the Li ONE insurance volume was 3,830, of which the cumulative insurance number from January to September was 18,722, exceeding NIO’s ES6 and BYD Tang DM.
Li ONE, as the only model on sale, made its public debut on October 18, 2018, and officially started delivery in December 2019. On June 16, 2020, Li Auto announced deliveries of over 10,000 units in 6 months. Four months later, the sales of this model have exceeded 20,000 units.
With the increase in sales, the firm is accelerating its offline retail center layout. As of September 30, it had established 35 retail centers in 30 cities across the country. It plans to enter provinces such as Shanxi, Jilin, Inner Mongolia, Hainan, Guangxi, Jiangxi, Qinghai, and Ningxia, in the fourth quarter of this year.
According to Li Auto’s official prospectus submitted to the US Securities and Exchange Commission, it plans to launch a large SUV in 2022 within the range of CNY 250,000 to 400,000.