Li Auto (LI +4.92%), maker of the Li One SUV electric vehicle (EV), said today that it delivered 4,646 of the new energy-vehicle in November and manufactured more than 5,000 for the first time.
The deliveries represent a 26% increase over October, and the company said it is continuing to see growing momentum in new orders. The report comes a day after Chinese EV rivals Nio (NIO +7.08%) and XPeng (XPEV +0.75%) also reported very strong November sales.
Li Auto One New Energy SUV. Image source: Li Auto.
Nio reported a record 5,291 deliveries in November and is accelerating its plans to ramp up production capacity. XPeng's sales of 4,224 vehicles represented a 342% increase compared to the year-ago period.
Li offers a slightly different product than its competitors. Its Li One SUV includes a small gasoline engine onboard that is used to recharge its batteries, allowing for longer transportation between charging stations. This can be important to customers in a broad geographic area like China.
Li is broadening its customer reach quickly. It opened four more retail stores in November, and added coverage to two new cities, for a total of 38 cities. It also covers 72 cities with its nearly 100 servicing centers and Li Auto-authorized body and paint shops.
The company said continued growing demand will drive further expansion of its sales and servicing network.
