Li Auto Aims to Deliver 100,000+ EVs in Third Quarter

Lee Auto reported better than expected quarterly results, with a beat on revenue and net income. They raised their revenue expectations, projecting up to CN¥33 billion and 103,000 EV units for the third quarter. Despite being the strongest among China's Big Three EV upstarts, analysts were disappointed by their conservative sales estimates, causing ADRs in New York to drop by 11%. However, shares remain double their value from the start of the year, highlighting Lee Auto's position as a strong competitor to Tesla in China.

In what way is Lee Auto considered a competitor to Tesla in China?

Despite the recent disappointment, how have Lee Auto's shares performed since the start of the year?