Down 75%, This Tesla Rival Continues to Grow Vehicle Deliveries in 2026

Li Auto, a Chinese electric vehicle manufacturer, has faced a significant decline in its stock value, down around 75% from its peak, currently valued at $10.3 billion. Despite the stock's struggles, the company has continued to expand its market presence, with vehicle deliveries increasing in August 2026. Li Auto delivered 37,679 vehicles in August, bringing cumulative deliveries to 1,801,834 as of Aug.

31. Year-over-year, vehicle deliveries grew by 32%. The company now operates 487 retail stores across 160 cities, 533 service centers in 218 cities, and 4,162 Supercharging stations with 22,939 stalls. In Q2 2026, Li Auto reported revenue of CNY 25.7 billion, or $3.86 billion, down 15.1% year-over-year, but sales grew by almost 12% sequentially.

The company reported a net loss of approximately $255 million due to rising battery and memory chip costs. Despite these challenges, Li Auto's balance sheet remains strong, with about $13.1 billion in cash reserves. The company plans to launch new models, including the Li MEGA and Li i9, and expand its reach to Kazakhstan, Uzbekistan, and the Middle East.

Li Auto projects delivery growth for the third quarter, with estimates ranging between 95,000 and 100,000 vehicles. Analysts forecast revenue growth from $16.4 billion in 2025 to $25.7 billion by 2030, with a potential 50% surge in stock price if the company trades at 11x forward free cash flow.