Li Auto

Li Auto tumbles 13% in Hong Kong on a muted market response to its newly updated Li L9 model.

Li Auto highlighted the higher-end L9 Livis, starting at 509,800 yuan ($74,940), which is 9% lower than its pre-sales price.

Li Auto's in-house chip development is not following a trend, but to solve problems that current suppliers' technologies cannot overcome, its CEO said.

Li Auto delivered 95,142 vehicles in the first quarter, beating the upper end of its delivery guidance of 85,000 to 90,000 units.

Li i6 delivered 21,024 units in April, accounting for 61.68% of Li Auto's deliveries for the month.

Li Auto CEO said making sedans would sacrifice space and comfort, contradicting the brand's core design philosophy centered on "home."

Li Auto delivered 34,085 vehicles in April, remaining largely flat from a year earlier but posting a double-digit decline from March.

Li Auto has signed partnerships with UAE and Saudi Arabian dealers and announced expansion plans for the Asia-Pacific region.

Li L9 Livis is equipped with two in-house developed 5nm M100 smart driving chips, delivering 2,560 TOPS of computing power.

Li Auto will showcase the L9 Livis at the upcoming Beijing auto show, featuring its in-house developed autonomous driving chip.