NASDAQ: LI · HKEX: 2015 · China
Li Auto built its volume on range extenders - a battery car with a small petrol generator on board - and became profitable years before its peers by selling one thing to one buyer: large family SUVs above RMB200,000. The 2026 numbers are the cost of moving off that position, as the shift to battery electric models refreshed the whole lineup at once and took the margin with it.
| Period | Vehicles delivered | Source |
|---|---|---|
| Q1 25 | 92,864 | Li Auto Q2 2026 results, delivery history table |
| Q2 25 | 111,074 | Li Auto Q2 2026 results, delivery history table |
| Q3 25 | 93,211 | Li Auto Q2 2026 results, delivery history table |
| Q4 25 | 109,194 | Li Auto Q2 2026 results, delivery history table |
| Q1 26 | 95,142 | Li Auto Q2 2026 results, delivery history table |
| Q2 26 | 98,330 | Li Auto Q2 2026 results |
Source: Li Auto Q2 2026 results
Denza, Yangwang, ONVO, MONA, Zeekr, Lynk & Co, MG, Avatr. Most of the names arriving in Europe belong to seven groups, one of which also owns Volvo, and one phone company that owns no carmaker at all.
12 Sept 2026 · Deep dive · 10 min
XPeng's gross margin rose from 17.3% to 20.7% over a year in which its cars got less profitable, not more. Both numbers come from the same filing. Here is how that works.
12 Sept 2026 · Deep dive · 8 min
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