Li Auto is listed on NASDAQ with market value of over USD 9.7 bln

On July 30, IIA learned Li Auto was officially listed on NASDAQ under the stock code "Li", the listing price was $11.5/ADS, and the market value was $9.724 billion. At this point, Ideal has become the second new car company listed in the United States after NIO.

Li Auto was founded in 2015, and the first model, Li ONE, started delivery in December 2019. On July 10, Li Auto formally submitted a prospectus to the US Securities and Exchange Commission, planning to list on the Nasdaq, and the stock code was determined to be "LI". On July 30, Li Auto was successfully listed on Nasdaq in the United States, with an issue price of US$11.5 per share, which was higher than the pricing guidance range of US$8-10. The total fundraising scale was close to US$1.1 billion. Based on the issue price, the market value of Li Auto exceeds US$9.7 billion, while Li Xiang, who holds 21% of the shares, is worth US$2 billion.

Since the start of delivery in December last year, Li Auto has maintained a relatively high pace of delivery. On June 16 this year, Li Auto announced the completion of the delivery of the 10,000th Li ONE, setting a record for a new force in vehicle manufacturing to deliver 10,000 vehicles. Fast record. Data show that in the first half of this year, Li ONE delivered a total of 9,500 new vehicles, surpassing WM and Xpeng, which achieved earlier deliveries, and ranked second in sales among new power companies in the first half of the year.

In June of this year, Li Xiang announced the launch of a contrarian expansion plan. Li Auto will add 60 stores within the year, three times the previous plan. Regarding the store expansion plan, Li Xiang said that there is an 8 times difference in market share in a city with or without Li Auto stores.

In terms of autonomous driving research and development, Li Auto announced in June that because traditional Tier 1 suppliers may not be able to meet the company's future technological development needs, the company will conduct independent research and development on autonomous driving, computing power platforms and smart cockpits. The original plan to start the research and development of L4 autonomous driving in 2021 will be changed to start this year, and the investment scale will reach 1 billion.