Li Auto differs from the two startups in that its electric cars come with a fuel tank for charging the battery and extending driving range.Average selling price is down by about 10% to 15% across brands, Bank of America Securities' head of Asia Pacific basic materials, Matty Zhao said Friday on CNBC's "She expects China's electric car market to grow by 27% this year to 8.7 million units, with penetration of overall auto sales set to grow to 32% this year, versus 26% last year.
Last week, management said wait times for P7i orders was more than six weeks due to production delays, which they expected would improve in June. The company projected a significant increase in overall deliveries to more than 20,000 vehicles a month in the fourth quarter. Nio delivered 6,155 cars in May, down from April and a year ago. The company is set to release quarterly earnings on June 9.
Based on Li Auto's reported and forecast deliveries, the company expects to deliver at least 22,000 vehicles in June.