A Li Auto store inside a shopping mall in Yantai, Shandong province on May 6, 2023.
BEIJING — Chinese electric car startup Li Auto said it delivered more than twice as many cars in May versus a year ago.
Li Auto differs from the two startups in that its electric cars come with a fuel tank for charging the battery and extending driving range.
That divergence comes as China's fast-growing electric car market grows more competitive.
She expects China's electric car market to grow by 27% this year to 8.7 million units, with penetration of overall auto sales set to grow to 32% this year, versus 26% last year.
Persons:
Li Auto, Li, Matty Zhao
Organizations:
Li, Bank of America Securities, Asia
Locations:
Yantai, Shandong province, BEIJING, Asia Pacific