Li Auto lowers Q3 delivery guidance due to Covid-19 outbreak in Malaysia

Li Auto is the latest company to lower its delivery expectations due to the Covid-19 outbreak in Malaysia affecting its supplier’s chip supply.

Covid-19 in Malaysia has caused a severe disruption in the production of dedicated chips for its millimeter-wave radar supplier. As a result the Company lowers delivery expectations for the third quarter by 500-1,500 units. This is according to an announcement from the company on Monday.

Because of a slower-than-expected recovery in chip supply, Li Auto now expects its deliveries in the third quarter to be about 24,500 units, down from its previous guidance of 25,000-26,000 units.

Li Auto will continue to monitor the ongoing market conditions and closely work with its supply chain partners to minimize the impact of the chip shortage on its production, it said.

Li Auto delivered 8,589 and 9,433 vehicles in July and August, respectively, and the latest guidance means it expects to deliver about 6,478 vehicles in September, down 31 percent from August.

Li Auto’s Li One

For the first eight months of 2021, Li Auto has delivered a total of 48,176 units.

The Li ONE is an electric vehicle with extended-range technology and has a three-cylinder engine as a range extender.

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