A Li Xiang One hybrid SUV is on display at the 18th Guangzhou International Automobile Exhibition on November 23, 2020 at the China Import and Export Fair Complex.
Li Zhihao | Visual China Group | Getty Images
BEIJING – With the start of 2021, a Chinese automaker, Auto Tone, ranks third behind its early rivals Neo and Expang in January deliveries.
Nasdaq-listed Li Auto Toe said on Monday that it had delivered 5,379 Li One SUVs in January. It is down from 6,126 in December and 7,225 from Neo and 6,015 from Expang in January.
Lee Auto Toe also announced that it will set up a new research and development center for autonomous driving and other electric vehicle related technologies in Shanghai.
Shares of Lee Auto Tona fell the most among its peers in U.S. trading on Tuesday, down 5.7% from a loss of about 4.6% for Xpeng and 2.1% for Neo. Shares of Tesla rose 3.9%.
In January, Tesla announced increased competition for high-end electric SUVs and announced that it would soon begin delivering its China-made Model Y at nearer prices to cars from Neo and Li Auto To. Tesla alone delivered 180,570 electric cars in the last three months of 2020.
The Lee One SUV Lee Auto Tony is the first and only model Dell to date. It was the best-selling high-end electric SUV in 2020 and, along with the Neo, also topped the list of top 10 overall high-end SUVs, according to the China Passenger Car Association.
Morgan Stanley analysts said the Lee One SUV is built for its fuel tank that can charge batteries and extend the driving range from 620 kilometers (385 miles) to a total of 800 kilometers.
The biggest concern of Chinese consumers buying an electric car is whether it will run out of battery power too quickly, with no charging station nearby or a long charging time.
According to Li Auto, after the launch of the vehicle in December 2019, the delivery of 5,379 Li One SUVs in January has still quadrupled in the same period, and the delivery has exceeded 38,900 since the launch of the vehicles in 2019.
That’s less than half of the 827,800 vehicles, Neo said, delivered jointly by the end of January. Neo has three SUV models in the market and plans to start delivery of sedans next year.
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