Li Auto has gained significant market share in the Chinese electric vehicle (EV) market

  • NEV sales in China grew 31% YoY in October, the highest growth rate since May.
  • EV stocks, including Tesla, have been declining due to concerns of slowing growth.
  • BYD has outperformed Tesla by offering lower-priced EVs in China.
  • Li Auto’s market share in China increased to 4.5% in October, while Tesla’s slipped to 8.2%.
  • Li Auto’s range-extended electric vehicle strategy has been successful in overcoming range anxiety.
  • Stellantis plans to adopt a similar strategy with its upcoming Dodge Ram 1500 EV truck.