Often, less is made of the major Chinese electric vehicle makers like Li Auto (NASDAQ:LI) than their American counterparts. This can likely be traced back to comparisons of their delivery numbers. However, Li Auto made a big splash in Friday’s trading as it set a new record for deliveries in December.
Li Auto pulled off quite the win this month, delivering a little over 20,000 vehicles in the month. That’s not only a record for December, but it’s also a new all-time high. Li Auto just broke one record back in November when it delivered 15,034 vehicles. Now the company has a whole new record just a month after the last record broke. Interestingly, this comes after word that Nio (NASDAQ:NIO) cut its delivery forecasts substantially amid issues caused by China’s recently-restrained Zero Covid policies.
That’s big news, especially in a market where some are wondering if EVs can get any real traction at all, but Li Auto is pushing hard for respect in the market. Earlier today, the company held a media event at the 20th Guangzhou International Automobile Exhibition. There, it offered further insight into company goals and progress. An entire event is forthcoming for the Li L7’s launch. Further such events will follow for other models. The company even had an L9, an L8 Max, and an L8 Pro on display to offer first-hand insight into its inner workings.
All told, it was good news for LI, and investors reacted accordingly. Analysts rang assent; currently, consensus calls LI a Strong Buy, and it’s nearly unanimous. With an average price target of $28.66, Li Auto shares enjoy an upside potential of 40.39%.
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