China deliveries slide in January for electric powered vehicle start out-up Li Auto

A Li Xiang A single hybrid SUV is on display screen through the 18th Guangzhou Global Car Exhibition at China Import and Export Fair Sophisticated on November 23, 2020 in China.

Li Zhihao | Visual China Group | Getty Images

BEIJING — As 2021 kicks off, a slide in January deliveries places Chinese automaker Li Car in third area driving its get started-up rivals Nio and Xpeng.

Nasdaq-listed Li Car stated late Monday, Eastern Time, it sent 5,379 Li 1 SUVs in January. That is down from 6,126 in December and under Nio’s 7,225 and Xpeng’s 6,015 deliveries for January.

Li Car also announced it is placing up a new investigation and advancement centre in Shanghai for autonomous driving and other electric powered auto-connected systems.

Shares of Li Auto fell the most amongst its friends in U.S. investing Tuesday, down 5.7% vs . losses of about 4.6% for Xpeng and 2.1% for Nio. Tesla shares rose 3.9%.

Competition for large-finish electric SUVs increased in January with Tesla asserting it would quickly start out deliveries of its China-made Product Y at a price tag close to that of cars from Nio and Li Vehicle. Tesla shipped 180,570 electric powered autos around the globe in the very last 3 months of 2020 alone.

The Li One particular SUV is Li Auto’s 1st and only product so far. It was the best-providing significant-stop electric powered SUV in 2020 and even created it into the top rated 10 checklist for substantial-conclude SUVs in general, alongside with Nio, according to China’s Passenger Vehicle Association.

Morgan Stanley analysts reported the Li A single SUV stands out for its fuel tank that can demand the battery and prolong the driving assortment by 620 kilometers (385 miles) to a full of 800 kilometers.

1 of Chinese consumers’ greatest problems about shopping for an electric car or truck is no matter if it will operate out of battery electricity far too swiftly, with no charging station close by or extensive charging situations.

January’s deliveries of 5,379 Li A single SUVs still marked a 4-fold improve from the exact time period a 12 months ago, and cumulative deliveries have surpassed 38,900 because the vehicle’s start in December 2019, in accordance to Li Automobile.

Which is significantly less than half of the more than 82,800 motor vehicles Nio said it had cumulatively shipped as of the end of January. Nio has 3 SUV products on the current market, and plans to start out deliveries of a sedan following calendar year.