Stock Markets4 minutes ago (May 25, 2021 11:31PM ET)© Reuters. FILE PHOT0: People visit the booth of Chinese electric vehicle (EV) maker Li Auto during a media day for the Auto Shanghai show in Shanghai, China April 20, 2021. REUTERS/Aly Song
BEIJING (Reuters) – China’s electric vehicle maker Li Auto expects sales to reach 10,000 cars a month from September and will expand its sales network, executives said on Wednesday.
Li Auto President Shen Yanan said Li Auto, which has only one model, expects monthly sales of its facelifted Li ONE extended-range electric sport-utility vehicle model to nearly double by September. It sold 5,539 cars in April.
Shen said the firm would expand its sales network and continue to use a direct-sales model strategy to sell its vehicles, adding that it is building a team to research selling overseas. It has 75 stores in more than 50 Chinese cities.
CEO Li Xiang said Li Auto plans to invest 3 billion yuan in research and development this year, and expects that number to grow.
Li said he open to further fundraising options including bonds, loans and follow-ons.China’s EV maker Li Auto expects monthly sales to reach 10,000 cars in SeptemberAdd a Comment