China EV maker Li Auto anticipates sales of about 10,000 cars every month from September, according to press release. The projections is an upgrade after deliveries jumped 11.3% last month to 5,539 Li ONEs.
President Shen Yanan says Li Auto will broaden the direct sales network to sell more cars and is already expanding overseas sales teams.
Li Auto seeks to invest at least 3 billion Yuan this year in research and development and is considering loans, bonds, and follow-ons to raise money.
Li Auto currently controls 75 stores spread across at least 50 Chinese cities.
With about $18 billion market capitalization, the company rivals Tesla Chinese EV makers Xpeng and Nio for the growing EV market.
Li Auto stock is currently gaining. LI: NASDAQ is up 0.40% on premarket.
