Li Auto Surges Past 200,000 Deliveries of L6 SUV in Just Months

Record-Breaking Milestone: The Chinese electric vehicle (EV) manufacturer Li Auto LI announced on Thursday that it has achieved over 200,000 deliveries of its L6 SUV within a mere nine months of its introduction.

Product Launch Details: The L6, a five-seater SUV, was launched in April with an entry price of approximately 249,800 yuan. Deliveries began the same month, allowing the company to quickly ramp up sales.

Li Auto has credited its success largely to the competitive pricing of the L6, which has outperformed rivals. For example, Tesla’s Model Y, a comparable SUV, starts at 263,500 yuan. Their lower-cost Model 3 sedan begins at 235,500 yuan.

Significance of Achievement: Since commencing mass production in November 2019, Li Auto has made substantial strides, accumulating a total of 1,133,872 deliveries by the end of December. In just 2024, the company already surpassed 500,500 vehicles sold, representing a remarkable 33% growth compared to the previous year.

Currently, the company offers a diverse lineup that includes the Li MEGA family MPV alongside several SUV models: L9, L8, L7, and the L6.

Market Performance: On Wednesday, shares of Li Auto, which are traded on NASDAQ, fell by 2%, closing at $21.88. As of now, the stock has decreased by 8.9% since the start of the year, according to data from Benzinga Pro.

The consensus price target for Li Auto is set at $34.86, based on assessments from 11 analysts reported by Benzinga. This consensus reflects a “buy” rating for the stock. Recent evaluations from Barclays, Macquarie, and Citigroup—released in November, October, and September, respectively—indicate an average price target of $31.20, suggesting a potential upside of 42.47% from current levels.