Tag: li auto

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

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 i...