Li Auto Inc. (NASDAQ:LI) has announced it will report its third-quarter earnings on November 26. Here’s what to know ahead of the announcement.
Hesai Group Deal
The automaker also announced on Friday that it will host its earnings call with investors and shareholders at 7:00 AM Eastern Time on Nov. 26.
Li Auto recently signed an agreement with Chinese LiDAR maker Hesai Technology (NASDAQ:HSAI) as the company's sole supplier of LiDAR technology, a crucial element in advanced driver assistance technology, as well as autonomous driving. The agreement covers all upcoming models, including the "L" Series, "i" Series, and "MEGA" line.
Tesla's Chinese Rivals Expand Overseas
Meanwhile, Li Auto announced earlier that it had delivered over 31,767 vehicles in October. The company's lifetime deliveries clock in at 1,462,788 vehicles. Li Auto also opened the doors to its first retail location in Uzbekistan in October. It had also established its overseas HQ in Hong Kong.
Elsewhere, Xpeng Inc. (NYSE:XPEV) announced it would be expanding into Asia, targeting the Cambodian market after entering into 5 European markets — Switzerland, Austria, Hungary, Slovenia, and Croatia — after partnering with Magna International Inc. (NYSE: MGA) to build two EVs in Austria. Xpeng will also report its Q3 earnings on November 17.
BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) shared that the UK became its largest overseas market during September, showcasing growth for the Chinese EV giant. Tesla Inc. (NASDAQ:TSLA), on the other hand, has recorded a decline in demand both in Europe as well as the Chinese market.
Li scores well on the Value metric, while offering satisfactory Growth, but poor Momentum. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Price Action: LI slipped 0.65% to $19.80 during pre-market trading after recording a 0.45% decline during regular trading, according to Benzinga Pro data.
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