Li Auto

Li Auto Inc., also known as Li Xiang, is a Chinese electric vehicle manufacturer headquartered in Beijing, with manufacturing facilities in Changzhou.[1]

Li Auto Inc.
TypePublic
NASDAQ: LI
(American Depository Receipts)
IndustryAutomotive
Founded2015 (2015)
FounderLi Xiang
HeadquartersBeijing, China
Key people
Li Xiang (Chairman and CEO)
Yanan Shen (President)
Tie Li (CFO)[1]
Number of employees
2628 (2019)[1]
Websitewww.lixiang.com

History

Li Auto was founded in 2015 by CEO and Chairman Li Xiang, for whom it's named. The company is backed by China's largest consumer services app Meituan and Bytedance, which owns short-video app TikTok.[2]

Unlike most other electric vehicle makers, Li Auto specializes in plug-in hybrid vehicles (PHEVs), which can be powered by either gasoline or electricity. The hybrid powertrain compensates for China's sparse EV-charging infrastructure and serves as a better gateway for weaning consumers off of petrol-powered cars. Since shipping its first model in late 2019, the company sold around 10,000 units.[2]

Li Auto has vehicle manufacturing, engineering, and design services located in Changzhou, Jiangsu Province with corporate headquarters and research and development located in Beijing.[1]

Li Auto raised $1.1 billion in an IPO on Nasdaq on July 30, 2020, valuing the five-year-old electric vehicle maker at around $10 billion. The Beijing-based firm was part of a wave of Chinese EV manufacturers joining the American stock market. The merger came at a time when Chinese stocks are facing greater scrutiny in the U.S.[2]

Models

See also

References
  1. https://www.sec.gov/Archives/edgar/data/1791706/000104746920004077/a2241802zf-1.htm
  2. Barrett, Eamon. "How the U.S. IPO of a Chinese electric vehicle maker defied Washington's roadblocks". www.fortune.com. Fortune. Retrieved 30 November 2020.
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