Li Auto (理想汽车)
Fast facts
- Year Founded
- 2021
Source: Li Auto Securities Registration filingir.lixiang.com/static-files/3ff38c3d-eff9-43d1-8a2a-aa2def94f2a6
- HQ Location
- Beijing, China
- Publicly Traded?
- No
Source: Nasdaqwww.nasdaq.com/market-activity/stocks/li
- Overseas Operations
- Yes
Through a variable interest entity (VIE) structure, Li Auto is incorporated in the Cayman Islands and maintains a holding company in Hong Kong.Source: Li Auto 2020 Annual Reportir.lixiang.com/static-files/8d282b2a-3035-4cb6-83e7-4e0b3e79fdbc
- US Sanctions
- No
- Military Affiliation in China
- No
Revenue
Source: Li Auto 2020 Annual Reportir.lixiang.com/static-files/8d282b2a-3035-4cb6-83e7-4e0b3e79fdbc
Valuation
Valuation is reported as enterprise value. It was reported in RMB and converted based on November 11, 2021 exchange rates.Source: Yahoo Financefinance.yahoo.com/quote/2015.HK/key-statistics
*Valuation is reported as enterprise value. It was reported in RMB and converted based on November 11, 2021 exchange rates.
Employees
Source: Li Auto 2020 Annual Reportir.lixiang.com/static-files/8d282b2a-3035-4cb6-83e7-4e0b3e79fdbc
Li Auto (理想) is a high-end EV manufacturer founded in 2015 and headquartered in Beijing. The six-year-old company designs and manufactures electric and plug-in hybrid SUVs and is backed by Meituan, one of China’s largest ecommerce and consumer services apps, and ByteDance, the owner of short-video app TikTok.
The company began production of its first model, a six-seat electric SUV dubbed Li ONE, in November 2019. On July 30, 2020, Li Auto raised $1.1 B in an initial public offering on the Nasdaq, valuing it at $10.0 B.
Source: Li Auto Websiteir.lixiang.com/investors
-
- Name
- Ownership
-
- Leading Ideal HK
Source: Tianyanchawww.tianyancha.com/company/4447188483
- 100%
- Leading Ideal HK
- Li Xiang (李想), Chairman and Chief Executive Officer
- Shen Yanan (沈亚楠), Director and President
- Li Tie (李铁), Director and Chief Financial Officer
- Ma Donghui (马东辉), Chief Engineer
- Wang Kai (王凯), Chief Technology Officer
- Wang Xing (王兴), Director
- Zhao Hongqiang (赵宏强), Independent Director
- Fan Zheng (樊铮), Independent Director
Source: Li Auto 2020 Annual Reportir.lixiang.com/static-files/8d282b2a-3035-4cb6-83e7-4e0b3e79fdbc
Through a variable interest entity (VIE) structure, Li Auto is incorporated in the Cayman Islands and maintains a holding company in Hong Kong.
Source: Li Auto 2020 Annual Reportir.lixiang.com/static-files/8d282b2a-3035-4cb6-83e7-4e0b3e79fdbc
Li Auto Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies’ affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company’s full sanctions status.
Li Auto Reputational Disclosures
On June 2, 2021, it was reported that Li Auto had deliberately withheld information about the launch of its new car model to clear inventory of its older models, angering customers and potentially violating a Chinese anti-fraud law.
On December 18, 2020, President Trump signed a law that would delist Chinese companies if they did not comply with the Public Company Accounting Oversight Board within three years, which Li Auto had noted in its prospectus as a potential cause for uncertainty and delisting from NASDAQ.
In November 2020, Li Auto announced a voluntary recall of 10,469 of its Li ONE models to adhere to the Chinese market regulator’s rules.
Source: Finance Sina: Forbesfinance.sina.com.cn/chanjing/gsnews/2021-06-02/doc-ikqciyzi7287634.shtmlSource: Nasdaqwww.forbes.com/sites/robertolsen/2020/12/18/trump-signs-bill-that-could-delist-chinese-companies-from-us-stock-exchanges/www.nasdaq.com/press-release/li-auto-inc.-announces-voluntary-recall-2020-11-06
The latest news on Li Auto from across the web
NIO, XPeng, and Li Auto’s Deliveries for May Are Good Enough. The Stocks Rise.
The three Chinese EV companies delivered 28,645 in May, up from 18,243 vehicles delivered in April.
China Has ‘Too Many’ Electric Carmakers; M&A to be Encouraged
China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.
China’s Evergrande May Delay Electric Cars Without More Capital
The Chinese electric-vehicle startup that vowed in March 2019 to take on Elon Musk and become the world’s biggest maker of EVs within five years seems further away from that goal than ever.
China’s Electric-Vehicle Ambitions Are No Pipe Dream
After years of living off subsidies, Chinese EV makers are starting to compete on technology and product design. Foreign competitors need to watch their backs.
China EV Maker Warns Terms Like Self Driving May Mislead People
The Chief Executive Officer of Chinese electric-car maker Li Auto Inc. has said the industry should limit using the terms autonomous and self driving, considering no automobile today is truly capable of that and its common usage is becoming misleading for consumers.
How smart is an electric car? Xpeng’s P5 can read traffic lights
Xpeng topped JD Power’s survey about car owners’ experience with 42 in-vehicle technologies, scoring 615 while Tesla came second at 597 and Li Auto was third at 577.
Tesla China Shipments of Locally Made Cars Plunge in July
Tesla Inc. shipments of China-made cars to the local market fell sharply last month following a run of negative publicity and the recall of almost every vehicle the company has sold in the country.
Tesla Rival Li Auto Launches $2 Billion Hong Kong Share Sale
Electric-car maker Li Auto kicked off a near-$2 billion stock offering in Hong Kong, joining a string of U.S.-listed Chinese companies in tapping investors closer to home.
Li Auto Admits Its Self-Driving Tech Is Sub-Par, and Its Stock Jumps
Markets unfazed as company slides back into a loss in the first quarter
Electric-SUV Maker Li Auto Has Strong First Day on Nasdaq
Company’s shares rise 43%, bolstering its war chest to fund growth in a competitive market
China Car Sales Fall With Chips in Short Supply
China’s car sales snapped an 11-month streak of year-over-year growth as demand bolstered by a strong economic recovery collided with a global semiconductor shortage.
Chinese EV Maker XPeng Makes Debut in Hong Kong
With uncertainty clouding Chinese listings in the U.S., the rival to Tesla and NIO obtained a dual-primary listing and raised $1.8 billion
EV Maker Xpeng Seeks Hong Kong Listing of Up to $1.97 Billion
New York-traded electric-vehicle maker Xpeng Inc. is looking to raise as much as $1.97 billion for a listing in Hong Kong, putting it on track to be the first Chinese EV producer to complete a so-called homecoming share sale.
JD.com, Meituan and Neolix to test autonomous deliveries on Beijing public roads
People in a Beijing suburb will begin to see autonomous delivery mini-vans across their neighborhood, moving cautiously alongside human delivery riders belting down the streets. Beijing has greenlighted JD.com, Meituan and Neolix to trial self-driving delivery vehicles on designated public roads in the Yizhuang Development Area, an economic and technological growth pilot initiated by the […]
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