Li Auto recently cut its annual delivery goal to 640,Categories000 cars this year instead of the previous target of 700,000 units, as the Chinese electric vehicle maker faces significant pressure from more established rivals such as Huawei-backed Aito. Specifically, the firm aims to deliver 520,000 so-called extended-range hybrid EVs, with both electric battery and a small petrol engine to extend the car’s driving range, a 40,000 cut from its previous goal, sources told the 21st Century Business Herald. The move comes after the order intake of Li Auto’s revamped L6 crossover, the most affordable model from the company, was below expectations following its debut at the Shanghai Auto Show in April, according to the report. Nasdaq and Hong Kong-listed Li Auto had previously reported lower-than-expected first-quarter deliveries of 92,864 vehicles, as sales of rival Aito’s M8 and M9 EREVs are gaining momentum. [21st Century Business Herald, in Chinese]
