26.1 C
New York
HomeTop Global NewsStartup Li Auto is beating Tesla China's EV sales

Startup Li Auto is beating Tesla China’s EV sales


Chinese startup Li Auto sold more cars in October than Tesla’s China business did in October, according to the China Passenger Car Association.

Nurphoto | Getty Images

BEIJING — Chinese startup Li Auto sold more cars than Tesla’s China business did in October, according to the China Passenger Car Association.

The startup sold a record 40,422 cars in October, far more than Tesla did at 28,626, association data showed Thursday.

Li Auto also forecast it would keep delivering cars at a similar pace in the fourth quarter: Between 41,700 to 42,600 vehicles a month.

Unlike Tesla’s battery-only models, Li Auto’s vehicles — all SUVs — come with a fuel tank for charging the battery. That helps ease consumers’ concerns about driving range.

Li Auto plans to begin delivering its first battery-only model in February 2024, the MEGA multi-purpose vehicle. The company said it’s planning three more battery-only vehicles for launch in the second half of next year.

Most automakers have not cracked the economics to make an EV affordable, says Deutsche's Rosner

Li Auto’s cars currently sell for between 319,800 yuan ($43,910) to 459,800 yuan. The Model 3 and Model Y start at lower prices, 259,900 yuan and 263,900 yuan, respectively.

It’s unclear whether Li Auto will continue to sell more cars than Tesla going forward. In September, Tesla sold 43,507 cars while Li Auto sold 36,060, China Passenger Car Association data showed.

Stock Chart IconStock chart icon

hide content

Li Auto vs Tesla

Read more about electric vehicles, batteries and chips from CNBC Pro

These Nasdaq stocks are already in a bear market, including Tesla and Airbnb



Source link

latest articles

explore more

LEAVE A REPLY

Please enter your comment!
Please enter your name here