Transportation
Chinese EV Maker Li Auto Reports Profit Beat on Cost Controls
This article is for subscribers only.
Li Auto Inc. reported better-than-expected third-quarter results, as the company’s production costs started to stabilize and efficiency measures came into effect.
Founded in 2015, the automaker was the third new-energy vehicle manufacturer to achieve profitability after only Tesla Inc. and BYD Co. In the three months ended Sept. 30, Li Auto posted an adjusted net income of 3.9 billion yuan ($541 million), while analysts were expecting 3 billion yuan on average, data compiled by Bloomberg showed.