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Li Auto Inc. has reported better-than-expected revenue after delivering over 105,000 electric vehicles in the third quarter, a significant increase from 26,500 a year earlier. This surge in deliveries is attributed to the soaring demand for new-energy vehicles in China. Western automakers, including VW and Stellantis, are investing in minority stakes in Chinese EV companies to access their technology, marking a shift in the dynamics of technology transfer between China and the West. Li Auto's success in China has led to comparisons with Tesla, with some sources suggesting that Li Auto is outpacing Tesla in the Chinese EV market. Meanwhile, Tesla has raised prices for its popular models in China despite intensifying competition from local rivals.
