Li Auto CEO confirms no overseas expansion plans by 2025

Li Auto CEO confirms no overseas expansion plans by 2025

Chinese electric vehicle maker Li Auto has stated that it currently has no immediate plans for overseas expansion. Instead, the company is focused on dedicating all its efforts to achieving its annual sales target of 1.6 million vehicles by 2025. Chief executive Li Xiang made this announcement on Wednesday via the Chinese Twitter-like platform Weibo. He emphasized that Li Auto maintains a direct-sale strategy, without utilizing any dealers overseas. Additionally, Li Xiang mentioned that during the first two weeks of July, more than 200 Li Auto crossovers were exported by individuals to regions including Central Asia and the Middle East. Li Auto’s approach differs from its rivals, who are actively increasing their efforts to penetrate the overseas EV market. Nio, for instance, has already established over 20 battery swap stations in Europe, while Xpeng Motors initiated sales of its G9 and P7 vehicles in four European countries in February. [Li Xiang’s Weibo post, in Chinese]


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