Automotive Author: Contributor, Phate Zhang Editor: Luke Sheehan Jan 04, 2022 04:29 PM (GMT+8)

The stock was unchanged on the news after its first 2022 trading day.

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Li Auto's performance rose from a figure of 6,126 a year ago and 4.5 percent from 13,485 in November, according to figures released today by the company.

Li Auto, which currently has only one model, the Li ONE, on sale, delivered 35,221 vehicles throughout the fourth quarter, up 143.5 percent from 14,464 in the same period last year and up 40.2 percent from 25,116 in the third quarter.

Li Auto previously guided for fourth-quarter deliveries of 30,000-32,000 vehicles, and the latest figure exceeds the upper end of that range.

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The company delivered 90,491 vehicles for the full year 2021, up 177.4 percent from 32,624 vehicles in 2020.

Cumulative deliveries of the Li ONE have reached 124,088 vehicles since delivery, it said.

Li Auto's in-house-developed navigation-assisted driving system has enabled more than 60,000 customers to enjoy a safer and more convenient driving experience, the company said.

As of December 31, 2021, Li Auto has 206 retail centers in China, covering 102 cities, and 278 after-sales service centers and authorized sheet metal spray centers, covering 204 cities.

After eliminating lifetime warranties on its vehicles in June, Li Auto is reportedly scaling back its warranties even further.

Starting February 1, 2022, Li Auto will cancel its lifetime warranty for the battery, drive motor and motor controller, and extended-range system for first-time owners, according to a report Tuesday by automotive media outlet xchuxing.com.

Li Auto will then provide an eight-year or 120,000-kilometer warranty on the vehicle's battery, drive motor and motor controller, and a five-year or 100,000-kilometer warranty on the vehicle and key components.

Li Auto offered buyers a lifetime warranty on the vehicle at the time of delivery, and in June 2021, the company eliminated that benefit to a lifetime warranty on the battery, drive motor and motor controller, and extended-range system.

The Li ONE is one of the highest-selling vehicles among the new car makers because it can refuel and offers a lot of interior space.

Li Auto founder, chairman and CEO Li Xiang posted a chart on his Weibo account on December 22 showing that the Li ONE has become the top-selling midsize SUV in the Chinese market in 24 months since deliveries began in December 2019.

The chart compares the Li ONE's insurance registrations with Volkswagen's midsize SUV, showing that the Li ONE sold 1,011 units in December 2019 in its first delivery month, well below the Volkswagen model's 13,193 units.


This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.

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