In the third quarter, Li Auto (LI, Financial) reported impressive financial results, leading among its peers in the Chinese electric vehicle market. The company achieved a total revenue of 42.9 billion yuan, with automotive sales contributing 41.3 billion yuan. Li Auto's adjusted net profit was 3.9 billion yuan, and it delivered a total of 152,831 vehicles.
Nio, another major player in the market, recorded a revenue of 18.67 billion yuan, with automotive sales accounting for 16.7 billion yuan. However, Nio faced an adjusted net loss of 4.4 billion yuan, and its vehicle deliveries were 61,855 units.
Xpeng Motors reported a revenue of 10.1 billion yuan, with 8.8 billion yuan from automotive sales. The company also experienced an adjusted net loss of 1.53 billion yuan, with vehicle deliveries totaling 46,533 units.
Li Auto's strong performance in both revenue and deliveries highlights its competitive edge in the rapidly growing electric vehicle sector in China. Meanwhile, Nio and Xpeng continue to face challenges in achieving profitability.
