Li Auto is a Beijing-based premium new-energy vehicle maker founded in 2015 by Li Xiang. L-series EREV SUVs remain the volume backbone, now including the all-new L8 launched in June 2026, with MEGA, i8, i6 and i9 on the BEV side.
Latest update Oct 8, 2026
01
It delivered 31,817 vehicles in September 2026 and 1,833,651 cumulatively as of 30 Sep. Monthly prints imply 99,964 in Q3, inside 95,000-100,000 guidance. January-September deliveries were 293,436, so about 196,564 remain for the about 490,000 full-year target. New L6 exceeded 10,000 in September. MACH VLA 2.0 went OTA to nearly one million Li AD Max vehicles. The 2026 i6 is still due to launch in late October with early November deliveries. Supercharging stood at 4,188 stations and 23,077 stalls on 30 Sep. NASDAQ: LI last $11.04 after hours on 7 Oct (about $11.33B). Q3 financials are unprinted. The first official Dubai retail center remains unpublished after the September target.
globenewswire.comUpdated Oct 8, 2026
Analysis · 6 min read · Aug 19, 2026The long view on Li Auto: strategy, technology and what to watch02
2026
Li Auto cut its full-year 2026 delivery growth target from ~40% (~550,000 units) to ~20% (~490,000 units) on its Q1 2026 earnings call, citing the launch cadence of the all-new L9, L8 and L6 EREVs and the ramping i-series BEVs. Q2 2026 deliveries came in at 98,330 units (-11.5% YoY) on RMB25.7B revenue, with the net loss narrowing to RMB1.7B and vehicle margin recovering to 9.4% from Q1's 7.9%. January-August 2026 deliveries reached 261,619 (-0.6% YoY), so hitting ~490,000 still requires about 228,000 units in the last four months, or roughly 57,000 a month versus August's 37,679. Li Auto guided Q3 2026 deliveries of 95,000-100,000 units and revenue of RMB26.6-28.0B; July-August already delivered 68,147, leaving 26,853-31,853 needed in September.
2026-2027
Li Auto's next-generation MindVLA autonomous-driving model (paired with the in-house M100 chip) debuted in production on the all-new L9 in May 2026. The company's August 2026 delivery update said Mach VLA would roll out in September to vehicles on the Thor and Orin-X platforms, broadening the stack beyond the newest M100 cars. The all-new L8 and revamped L6 already support Livis voice-command parking. A wider AD Max rollout continues through 2026-2027.
2026
Li Auto is developing wheeled and humanoid robots under an internal codename, 'Nexus', as CEO Li Xiang pushes the company toward becoming an embodied-AI company - the 'second half' of a decade-long AI strategy that starts with autonomous driving. The roadmap still leads with a two-wheeled factory robot expected in 2026, ahead of a later bipedal humanoid; no public product launch or factory-deployment date has been announced as of September 11, 2026. Li Auto reorganized its foundation-model unit in May 2026, adding three embodied-AI departments alongside its autonomous-driving unit.
2026
TargetDate still unpublished after the September 2026 planned window
Oct 12, 2026
TargetOctober 12-18, 2026 (Paris debut); Q4 2026 (Europe sales start)
On September 10, 2026 Li Auto started its European marketing push as an official 2026 Solheim Cup partner in the Netherlands, supplying 20 i6 SUVs as courtesy transport. The overseas i6 will be named Li 6 and will make its European debut at the Paris Motor Show from October 12-18, 2026, where Li Auto plans to unveil its global lineup and European business plans. Management said on the August 26 earnings call that European i6 sales would begin in the fourth quarter; first countries, pricing and channels are not yet public. A right-hand-drive MEGA for Hong Kong and Singapore remains targeted by year-end 2026.
2026
TargetParis Motor Show 12-18 Oct 2026
Late October 2026
TargetLate October 2026 (i9); November 2026 (MEGA)
Initial new-generation MEGA deliveries use CATL 5C ternary packs. Li Auto said MEGA orders locked at or after 3:00 pm Beijing time on September 7, 2026 will get in-house 5C batteries, with those deliveries expected in November. For the i9, Li Auto said the first customer batch also uses CATL 5C ternary packs, with the battery brand shown on the order page, and that self-developed 5C ternary packs begin deliveries in late October, after which all i9 Home units switch to the in-house solution.
2026
TargetLate October 2026 launch; early November deliveries
Q4 2026
TargetQ4 2026 (delivery ramp)
The Li i9 launched on September 16, 2026 at 369,800 yuan in a single Home trim, and Li Auto said deliveries would commence the same week. The open questions are the order book for a 370,000-yuan six-seat BEV in a discount-heavy market, how fast the i9 contributes to the roughly 228,000 units Li Auto still needs in the last four months of 2026 to hit its ~490,000 target, and whether the claimed 705 km CLTC range and 0.215 drag coefficient hold up in independent testing. The i9 also has to carry the first production use of Li Auto's self-developed battery, motor, M100 chip and assisted-driving model together.
Q4 2026
The 2026 i6, a refresh of Li Auto's volume five-seat BEV SUV, will launch in the fourth quarter with Li Auto's in-house 5C battery and Mach assisted-driving chip. Pre-orders open in late September 2026, with deliveries starting in early November.
Sep 2026
After launching official L9 sales in the UAE on September 3, 2026 through exclusive distributor Al Fahim (Ultra AED 319,900, Livis AED 359,900), Li Auto said its first official retail center will open in downtown Dubai in September, with more than two retail and service sites planned after climate, dust, charging and map localization work. As of September 11, 2026 Li Auto has not published a confirmed opening date or a photo of an open store.
03
Li Auto said it delivered 31,817 vehicles in September 2026, taking cumulative deliveries to 1,833,651 as of September 30. That is below August's 37,679 and continues a slower monthly run versus the ~57,000 pace implied by its ~490,000 full-year target. The company said it delivered more than 10,000 new L6 units in September, launched MEGA Home and i9 Home, and pushed MACH VLA 2.0 over the air to nearly one million Li AD Max cars on Orin-X and Thor; October plans include the new i6 and a Paris Motor Show Europe debut. It also counted 4,188 super charging stations and 23,077 stalls in China.
Li Auto launched the six-seat Li i9 on September 16 in a single Home trim priced at 369,800 yuan (about $54,400), with orders open immediately and deliveries starting this week. The i9 is the flagship of Li Auto's second-generation pure-EV platform and comes standard with a 101 kWh 5C ternary battery for up to 705 km of CLTC range, a 400 kW dual-motor all-wheel-drive system, steer-by-wire with rear-wheel steering, and four lidars paired with dual M100 chips. Li Auto claims a 0.215 drag coefficient, which it calls the lowest of any mass-produced SUV; early cars use CATL cells before a planned switch to Li Auto's own packs.
Li Auto will launch the i9, a six-seat flagship battery-electric SUV, at 7:30 p.m. Beijing time on September 16, with display vehicles in stores from September 11. Regulatory filings list a 5,225 mm length, 3,168 mm wheelbase and a 400 kW dual-motor all-wheel-drive system; a Home trim adds rotating zero-gravity seats. Initial deliveries use CATL 5C ternary packs before a later switch to Li Auto-developed batteries.
Li Auto said on September 10, 2026 that its battery-electric i6 SUV will be sold overseas as the Li 6 and will debut at the Paris Motor Show in October, where it will outline its global lineup and European business plans. The company called a 2026 Solheim Cup partnership in the Netherlands, including 20 courtesy i6 SUVs, the formal start of its European push and still aims to begin European sales in the fourth quarter. First countries, pricing and sales channels were not disclosed.
Li Auto said on September 7, 2026 that its in-house 5C batteries, already used on the L8, L6 and i8, will expand across the lineup. The new MEGA and upcoming i9 start on CATL 5C packs and will switch fully to Li Auto cells once production is ready; MEGA orders locked at or after 3:00 pm Beijing time on September 7 get the in-house pack, with those deliveries expected in November. The 2026 i6 will launch in the fourth quarter with Li Auto's 5C battery and Mach chip, opening pre-orders in late September and deliveries in early November.
Li Auto's board approved a 2.65 billion yuan (about $390 million) strategic investment for an 8.79% stake in Sunwoda Electronic's power-battery unit, Sunwoda EVB, making Li Auto the second-largest shareholder after related entities of about 11.17% combined. The deal values Sunwoda EVB at about 27.49 billion yuan pre-money and 30.14 billion yuan post-money; Sunwoda will keep consolidation, while Huizhou New Energy's stake falls from 26.38% to 24.06%. Li Auto said the investment is a long-term battery technology and quality partnership, building on a 2022 Pre-A stake of about 3.2% and a 50/50 Shandong battery joint venture.
Li Auto held its first official Gulf sales event in Dubai on September 3, 2026, launching the L9 Ultra at AED 319,900 (about $87,100) and the L9 Livis at AED 359,900 through exclusive distributor Al Fahim. The company said its first official retail center will open in downtown Dubai in September, with more than two retail and service sites planned, after climate, dust, charging and map localization work. Arabic interface support is live now, with Arabic voice planned by year-end.
Li Auto put a new-generation Li MEGA on sale in China on September 2, 2026, offering only a Home trim priced at RMB509,800 (about $71,600), roughly RMB50,000 below the prior Home version, in a bid to revive volume for the flagship that pioneered its battery-electric lineup. The refreshed seven-seat MPV pairs a 108 kWh CATL battery good for 710 km of range with a 413 kW dual-motor powertrain, a 4-lidar sensor suite and Li Auto's new Mahe VLA driving model, plus an air-suspension chassis with active anti-roll control.
Li Auto delivered 37,679 vehicles in August 2026, up 32% year over year, snapping three straight months of year-over-year decline and lifting cumulative deliveries to 1,801,834 as of August 31. The rebound follows Li Auto's spring relaunch of the L9, L8 and L6 EREV SUVs with its MindVLA autonomous-driving model, part of a push to revive volume after management cut its full-year 2026 delivery growth target earlier in the year.
Li Auto reported Q2 2026 revenue of RMB25.7 billion ($3.8 billion) on deliveries of 98,330 vehicles, down 11.5% year over year, with a net loss of RMB1.7 billion as vehicle margin fell to 9.4% from 19.4% a year earlier and cash reserves declined to RMB87.5 billion. The company guided Q3 2026 deliveries of 95,000 to 100,000 units and said it will launch the next-generation Li Mega, its flagship electric MPV, on September 2 with an upgraded cabin and smart-driving hardware aimed at reviving demand that has fallen sharply since the model's 2024 debut.
Li Auto said on August 14 that cumulative deliveries of its L6 extended-range SUV surpassed 400,000 units less than 27 months after its April 2024 launch, calling it the fastest extended-range vehicle priced above 200,000 yuan to reach the mark. The revamped L6, relaunched July 16 with a larger 51 kWh battery and 300 km of pure-electric range, delivered about 9,000 units in the first half of August alone versus 2,716 for all of July, as the refresh revived demand for one of Li Auto's slowing models.
Li Auto delivered 30,468 vehicles in July 2026, lifting cumulative deliveries to 1,764,155 units as of July 31. The Li L9 SUV surpassed 300,000 cumulative deliveries during the month, and Li Auto began localized Li L9 production in Kazakhstan alongside an OTA update improving assisted-driving features on 2026 models.
Shanghai authorities said on July 22 they convened a compliance-guidance meeting with 15 major automakers, including BYD, NIO, XPeng, Li Auto, Xiaomi, SAIC and Tesla, plus more than 80 dealer groups and platforms such as Bilibili and Xiaohongshu. The city's market regulator clarified rules on pricing compliance across manufacturing, pricing strategy and vehicle sales, and urged the companies to self-inspect and resist improper online marketing practices. The move is part of a widening Chinese campaign to cool the EV price war and rein in aggressive online promotion.
Li Auto launched a revamped version of its L6 extended-range SUV on July 16 at an unchanged starting price of RMB249,800 (about $36,900), aiming to reinvigorate one of its best-selling but slowing models. The single L6 Ultra variant pairs a larger 51 kWh battery (up from 36.8 kWh) for 300 km of battery-only CLTC range and 1,250 km combined, with Li Auto's in-house 1,280-TOPS Mach M100 assisted-driving chip and a 29-inch 6K display. Deliveries begin within a week, part of a July EREV refresh alongside the all-new L9 as Li Auto targets roughly 550,000 deliveries in 2026 after a down year.
04
Six-seat full-size flagship EREV SUV. The all-new 'L9 Livis' launched May 15, 2026 with an M100 chip, MindVLA autonomy, 800V architecture and active suspension; it entered Kazakhstan production in July 2026 as Li Auto's first overseas-built model.
Entry-level EREV SUV and Li Auto's most affordable model, broadening the L-series to a lower price point.
Li Auto's first battery-electric vehicle - a premium all-electric MPV with a distinctive aerodynamic shape and 5C fast charging.
Six-seat battery-electric family SUV - part of Li Auto's push to build a pure-electric lineup alongside its EREVs.
Five-seat all-electric SUV that became Li Auto's sales backbone - an affordable, long-range BEV built on a 5C LFP pack.
Six-seat flagship battery-electric family SUV and the first vehicle on Li Auto's second-generation pure-EV platform, combining the company's self-developed battery, electric motor, M100 chip and assisted-driving model.
05
(~$3.8B) in Q2 2026 (net loss RMB1.7B, vehicle margin 9.4%); RMB23B (~$3.33B) in Q1 2026 (-11.4% YoY, net loss RMB2.3B); FY2025 revenue RMB112.3B, down from RMB144.5B in 2024. Q3 2026 guidance is RMB26.6-28.0B on deliveries of 95,000-100,000 units. January-August 2026 deliveries of 261,619 leave about 228,000 units to hit the ~490,000 full-year target.
(as of August 31, 2026); August deliveries 37,679, up 32% YoY, ending three straight months of year-over-year decline.
(-0.6% YoY); August 37,679 (+32% YoY) ended three straight months of year-over-year decline
RMB87.5B at end of Q2 2026, down from RMB94.3B at Q1 2026 and RMB101.2B (~$14B) at end-2025. Still the latest official cash figure as of September 11, 2026; Q3 results are not yet out.
(vs. RMB1.1B net income in Q2 2025; RMB2.3B loss in Q1 2026); vehicle margin fell to 9.4% from 19.4% YoY. Still the latest official quarter as of September 11, 2026.
(as of August 31, 2026), up from 4,141 stations / 22,841 stalls at July 31
Jan-Sep 293,436 (-1.25% YoY); cumulative 1,833,651 as of 30 Sep 2026
06
Operating status
Operational
Deep audit after the 1 Oct September print. Official deliveries remain 31,817 in September and 1,833,651 cumulative; compiled Q3 99,964 inside 95,000-100,000. About 196,564 units remain for the about 490,000 full-year target. 2026 i6 still late October launch / early November deliveries; late-September reservations did not open. First official downtown Dubai retail center still unpublished after the September target. All-new L8, missing from the prior product list, launched June 2026 at RMB369,800/429,800. NASDAQ: LI last $11.04 after hours 7 Oct (about $11.33B on 1.03B shares). Q3 financials unprinted (CNBC estimate 24 Nov). IR homepage Access Denied; Wikipedia timed-out in the prior pass but opened this run. No L8 image in deployed media. Careers and most Chinese product pages were thin or unopened.
07
How past announced dates turned out.
3/3announced dates hit on time
Launch the Li i9 flagship BEV SUV
Target September 16, 2026 · Resolved Sep 16, 2026
Li Auto launched the six-seat i9 on September 16, 2026 in a single Home trim at 369,800 yuan, on the announced date, with orders opening the same evening and deliveries starting that week. It is the first model on the company's second-generation pure-EV platform and the first to combine its self-developed battery, motor, M100 chip and assisted-driving model.
Launch the next-generation Li Mega flagship MPV
Target September 2026 · Resolved Sep 2, 2026
A second-generation Li MEGA went on sale September 2, 2026 in a single Home trim at RMB509,800, about RMB50,000 below the prior Home price, with a 108 kWh CATL battery, 413 kW dual-motor powertrain and Mahe VLA driving model.
Launch the all-new L9 internationally
Target Q3 2026 · Resolved Jul 15, 2026
Li Auto launched the all-new L9 in Kazakhstan on July 15, 2026 and began local assembly at partner Allur's Kostanay plant - its first overseas manufacturing base and first major international market entry, within the Q3 2026 target window. It had also signed dealer partnerships covering L-series EREVs in the UAE and Saudi Arabia in April 2026.
08
2026
Q3 deliveries 99,964, inside 95,000-100,000 guide
Company monthly prints for July 30,468, August 37,679 and September 31,817 sum to 99,964 third-quarter deliveries, inside Li Auto's 26 Aug guide of 95,000-100,000. That is up 7.24% from Q3 2025's 93,211 and 1.66% from Q2 2026's 98,330, per CnEVPost compilation. Li Auto did not itself publish a Q3 total in the 1 Oct release. January-September deliveries were 293,436. Hitting about 490,000 for 2026 still requires about 196,564 in the fourth quarter, or roughly 65,500 a month.
September deliveries 31,817; MACH VLA 2.0 OTA
Li Auto reported 31,817 September deliveries and 1,833,651 cumulative deliveries as of September 30. It said new L6 volume exceeded 10,000 in September, MEGA Home and i9 Home launched, and MACH VLA 2.0 went out over the air to nearly one million Li AD Max vehicles. October plans include the new i6 and a Paris Motor Show Europe debut.
Launches the i9 flagship BEV SUV at 369,800 yuan
Li Auto launched the six-seat Li i9 on September 16, 2026 in a single Home trim at 369,800 yuan (about $54,400), opening orders the same evening with deliveries starting that week. The flagship of the company's second-generation pure-EV platform comes standard with a 101 kWh 5C ternary battery for up to 705 km of CLTC range, a 400 kW dual-motor all-wheel-drive system, steer-by-wire with rear-wheel steering, third-generation dual-chamber air suspension, four rotating zero-gravity seats and a 23-speaker audio system. Li Auto claims a 0.215 drag coefficient, the lowest of any mass-produced SUV, and says intelligent-driving features carry no activation or subscription fee. Optional packages include a dual Mach M100 embodied-intelligence set at 20,000 yuan during the launch period.
Starts European push; overseas i6 named Li 6
On September 10, 2026 Li Auto said it is an official partner of the 2026 Solheim Cup in the Netherlands, supplying 20 i6 SUVs as courtesy transport and calling the event the formal start of its European entry. The overseas i6 will be sold as the Li 6 and will debut at the Paris Motor Show in October, where Li Auto plans to unveil its global lineup and European business plans. Management had already said on the August 26 earnings call that i6 sales in Europe would begin in the fourth quarter.
Locks i9 launch for September 16 on a second-generation EV platform
On September 9, 2026 Li Auto said the flagship i9 six-seat BEV SUV will launch at 7:30 pm Beijing time on September 16, with display vehicles in stores from September 11. CEO Li Xiang said the next day that the i9 debuts Li Auto's second-generation pure-EV platform and is the first model to combine the company's self-developed battery, electric motor, M100 chip and assisted-driving model; Li Auto claims a 0.215 drag coefficient. Regulatory filings list a 5,225 mm length, 3,168 mm wheelbase, and a 400 kW dual-motor all-wheel-drive system. Initial deliveries use CATL 5C ternary packs before a switch to Li Auto-developed batteries.
Plans lineup-wide shift to in-house 5C batteries
Li Auto said on September 7, 2026 that in-house 5C batteries already used on the L8, L6 and i8 will expand across the lineup. The new MEGA and upcoming i9 start on CATL 5C ternary packs and will switch fully to Li Auto cells once production is ready; MEGA orders locked at or after 3:00 pm Beijing time on September 7 get the in-house pack, with those deliveries expected in November. The 2026 i6 will launch in the fourth quarter with Li Auto's 5C battery and Mach chip, opening pre-orders in late September and deliveries in early November.
Starts official L9 sales in the UAE
Li Auto held its first official Gulf sales event in Dubai on September 3, 2026, launching the L9 Ultra at AED 319,900 (about $87,100) and the L9 Livis at AED 359,900 through exclusive distributor Al Fahim. The first official retail center is slated for downtown Dubai in September, after climate, dust, charging and map localization work.
Takes 8.79% stake in Sunwoda EVB
Li Auto's board approved a 2.65 billion yuan (about $390 million) strategic investment for an 8.79% stake in Sunwoda Electronic's power-battery unit, Sunwoda EVB, making Li Auto the second-largest shareholder after related entities of about 11.17% combined. The deal values the unit at about 27.49 billion yuan pre-money and 30.14 billion yuan post-money; Sunwoda keeps consolidation. Li Auto said the move is a long-term battery technology and quality partnership, building on a 2022 Pre-A stake of about 3.2% and a 50/50 Shandong battery joint venture.
2026
Second-generation MEGA goes on sale
A next-generation Li MEGA flagship MPV went on sale September 2, 2026 in a single Home trim at RMB509,800, about RMB50,000 below the prior Home price, with a 108 kWh CATL battery for 710 km of range, a 413 kW dual-motor powertrain, a 4-lidar sensor suite and Li Auto's Mahe VLA driving model.
Pivots toward embodied AI and robotics
Li Auto reorganizes its foundation-model unit (May 29) into an independent autonomous-driving department plus three new embodied-AI teams (embodied engineering, embodied interaction, embodied behavior), formalizing a secretive robotics program - internally codenamed 'Nexus' - that CEO Li Xiang frames as the 'second half' of the company's decade-long AI strategy after autonomous driving.
All-new L8 and revamped L6 launch; first overseas plant
Li Auto launches the all-new L8 five-seat flagship EREV SUV (June 23) and a revamped L6 (July 16) to broaden the EREV lineup, then begins its first overseas production at partner Allur's Kostanay, Kazakhstan plant (July 15), building the L6, L8 and L9 - Li Auto's first major overseas market entry, with cumulative L9 deliveries passing 300,000.
All-new L9 launches with MindVLA autonomy
Li Auto launches the all-new L9 ('Livis' and 'Ultra' trims, ~1,650 km combined range, 800V) on May 15, 2026, its first vehicle to fully deploy the in-house MAHE M100 AI chip and next-generation MindVLA autonomous-driving model; deliveries begin May 17.
Full-year 2025 deliveries fall ~18.8% to 406,343 and net income drops 85.8% to RMB1.1B; Q1 2026 then swings to a RMB2.3B net loss with gross margin collapsing to 7.9% during the i-series ramp and price competition.
2025
2024
2023
2021
2020
2019
2015
09
$2.6Bdisclosed across 2 rounds with a stated amount
