Chinese electric vehicle maker Li Auto has hit a new milestone, delivering its 500,000th vehicle in Beijing just 46 months after initial shipments began. This makes Li Auto the fastest domestic EV brand in China to reach half a million deliveries.
The 500,000th vehicle, an Li L7 SUV, capped a period of rapid growth for the startup. Li Auto was the top-selling premium electric SUV in China over 300,000 RMB for 5 straight months this year on the strength of the L7, L8 and L9.
Production is also scaling quickly, with the 500,000th manufactured vehicle rolling off lines in Changzhou in late September.
Li Auto aims to continue accelerating deliveries by achieving a monthly rate of 40,000 units in Q4 2023 as production of the hot-selling L7, L8 and L9 increases.
The company also plans to launch its first MPV model, the Li MEGA, in December. They expect the MEGA priced around 500,000 RMB will become China’s best-selling luxury multi-purpose vehicle.
The rapid pace of deliveries and new model launches underscores Li Auto’s momentum in an increasingly competitive Chinese EV market. By leveraging manufacturing expertise and a targeted lineup, Li Auto is etching its place among leaders like Tesla and BYD.
Hitting 500,000 vehicle deliveries cements Li Auto’s position as a rising force with the potential to displace established players. As the company expands production capacity, its next million deliveries will likely come even faster.