Chinese Electric Vehicle Manufacturer
posted a record month for deliveries in July. It’s another sign that the semiconductor shortage that is limiting global auto production is on the decline. It is also a sign that the demand for electric cars in China is still hot.
Li (ticker: LI) delivered 8,589 Li ONE SUVs in July. It is the first time the company has cracked 8,000 within a month. The company delivered 5,858 vehicles monthly in the second quarter of 2021. June was the previous delivery record, with: 7,713 vehicles delivered.
“Driven by excellent product features and performance, the 2021 Li ONE set another record high in monthly deliveries.” co-founder Yanan Shen said in the company’s press release. “By the end of this year, we will be launching a series of major OTA upgrades to take our product offering to new heights.”
Most new EV offerings, including those from peers like
(TSLA), are continuously improved through software updates for vehicle functions and battery management.
It’s an important month and should be good news for Li stocks. So far, Li shares are up about 16% in 2021, in line with comparable gains from the
Dow Jones industrial average.
But it’s been quite a ride for investors. Shares are up about 69% in the past three months.
Shares were weak from the start of the year into May as investors worried about the global semiconductor shortage hurting auto production. For example, Li delivered only 2,300 vehicles in February. It also delivered 4,323 vehicles in May, the month before deliveries surged in June and July.
Li’s number also bodes well for pear
(XPEV) and NIO, who will report deliveries in the coming days. NIO, which will be published in July, has delivered almost 42,000 vehicles. XPeng has delivered 30,728 vehicles so far, slightly more than Li’s 30,154 vehicle deliveries in July. With July added, Li’s annual deliveries top 38,000 vehicles.
Li July’s figure is also positive for Tesla, but Tesla does not report monthly deliveries by country or by month.
Write to email@example.com