Li Auto’s manufacturing facility in Changzhou will probably be upgraded and revamped through the Chinese language Nationwide Day vacation to help manufacturing growth.
Li Auto (NASDAQ: LI) has seen its weekly gross sales cease rising in the previous few weeks regardless of main its main native friends as a consequence of capability constraints.
Li Auto’s elements capability bottleneck will probably be resolved in October, its founder, chairman and CEO Li Xiang stated in a retweet of a Weibo submit wherein the corporate shared final week’s insurance coverage registration numbers.
The corporate’s plant in Changzhou, Jiangsu province, will probably be upgraded and revamped throughout China’s Nationwide Day vacation to help manufacturing growth, he stated.
October 1 is China’s Nationwide Day, and this yr’s authorized vacation runs from September 29 to October 6, with September 29 being the Mid-Autumn Competition. October 7 and October 8 will probably be work days, though they’re weekends.
Li Auto’s most capability is 34,000 items per 30 days within the third quarter, Li stated.
He additionally defined why deliveries fluctuate from week to week, saying it consists of two elements, one among which is changes between fashions, equivalent to Li Auto’s introduction of the brand new Professional model of the Li L9.
The opposite issue is that Li Auto autos proceed to be privately exported abroad by some people, he stated.
“All in all, (Li Auto) was delivering as many because it produced within the third quarter,” Li stated.
Through the week of August 7 to August 13, Li Auto bought 7,200 items, information shared as we speak by the corporate confirmed. This is identical determine because the earlier week.
Between August 1 and August 13, Li Auto autos had 13,500 insurance coverage registrations.
Li Auto delivered a file 34,134 autos in July, the second consecutive month over the 30,000-mark, information launched by the corporate on August 1 confirmed.
For the week of July 24 to July 30, Li Auto bought 7,900 items, barely increased than the earlier week’s 7,800, a Weibo submit by the corporate on August 1 forward of its July deliveries announcement confirmed.
In a retweet of Li Auto’s Weibo on August 1, Li stated that capability is the one bottleneck the corporate is dealing with proper now, and that it is with out a answer this quarter.
China EV insurance coverage registrations for week ending Aug 13: Tesla 14,000, Li Auto 7,200, Nio 3,300