Li Auto (NASDAQ:LI) reportedly has promising plans to strengthen its position in China by 2025, Reuters reported. The Chinese manufacturer of electric vehicles announced at the Shanghai auto show that it aims to open more than 3,000 supercharging stations across China. The company hopes to cover about 90% of the major cities and highways in the country.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Furthermore, about 300 high-speed supercharging stations will be constructed across China’s four major economic belts by the end of 2023.
In terms of new models, Li Auto intends to increase its line-up from the current four to 11 by 2025. Additionally, the lineup is anticipated to include five range-extended electric models, five high-voltage pure electric models, and one flagship model.
Earlier this month, Li Auto released delivery numbers for the month of March and the first quarter of 2023. The company witnessed strong year-over-year growth for both periods in comparison to its peers NIO (NIO) and XPeng (XPEV).
What is the Price Target for Li Stock?
Li Auto has a Strong Buy consensus rating based on five unanimous Buys assigned in the past three months. The average LI stock price target of $37.30 implies 42.8% upside potential.
