Core Insights - Li Auto delivered 33,181 vehicles in November 2025, maintaining stable delivery scale, with a total cumulative delivery of 1,495,969 vehicles as of November 30, 2025, nearing the 1.5 million milestone [1] - The company achieved a significant breakthrough in the pure electric vehicle segment, with over 100,000 cumulative orders for the Li Auto i6 and i8 SUVs, indicating a notable increase in market recognition [1] - Li Auto has implemented a "dual supplier" model for battery supply to address production capacity issues, with expectations to increase monthly production capacity of the i6 to 20,000 units by early next year [1] - An upcoming OTA version 8.1 will enhance smart driving and in-car interaction experiences, introducing new features and improvements to optimize user experience [1] Company Development - Li Auto is focusing on building competitiveness for the next decade through organizational structure, product layout, and technological innovation, aiming for a transformation towards embodied intelligence in vehicles [2] - The company has established 544 retail centers across 157 cities and 556 after-sales service and authorized repair centers in 227 cities as of November 30, 2025, enhancing its service network [2] - Li Auto has deployed 3,614 supercharging stations and 20,027 charging piles nationwide, providing convenient charging solutions for users [2]

Core Insights - Li Auto announced the delivery of 33,181 vehicles in November 2025, highlighting the company's growth trajectory [1] - The company has implemented a "dual supplier" model for the battery supply of its Li Xiang i6 and i8 electric SUVs to address production capacity issues, ensuring consistent performance and quality across both suppliers [1] - Li Auto aims to increase the monthly production capacity of the Li Xiang i6 to 20,000 units by early next year [1] Company Strategy - The CEO emphasized the importance of accelerating learning and iteration across organizational structure, product layout, and technological innovation to build competitiveness for the next decade [1] - The company is focused on solidifying its technological foundation to transform vehicles into intelligent entities, aiming to provide users with warmer and smarter high-value services [1]

Core Viewpoint - Li Auto delivered 33,181 vehicles in November, indicating strong sales performance and growth in the electric vehicle market [1] Group 1: Company Performance - The total number of vehicles delivered by Li Auto in November reached 33,181 units, showcasing a robust demand for its products [1]

Core Insights - Li Auto delivered 33,200 new vehicles in November 2023, indicating strong sales performance [2] - As of November 30, 2023, Li Auto has established 544 retail centers across 157 cities in China, enhancing its market presence [2]

Core Viewpoint - VinFast is considering a shift from its all-electric strategy to include range-extended electric vehicles (REEVs) to improve sales and reduce losses, while still adhering to its commitment to zero-emission vehicles by 2035 in leading markets and globally by 2040 [2][5][7]. Company Developments - VinFast has posted job openings for REEV specialists, indicating active exploration of this technology [1][7]. - The company produced around 104,000 electric vehicle units in Vietnam in the first nine months of the year, accounting for nearly 95% of its global sales, but its premium VF9 SUV only represents about 1% of domestic volumes [3][7]. Market Context - The Vietnamese government plans to restrict petrol-powered vehicles, including a ban on petrol motorbikes in central Hanoi from mid-2026, which aligns with VinFast's strategic shift [4][5][7]. - Competitors such as Chinese EV makers Li Auto and Leapmotor already offer REEVs, and legacy manufacturers are exploring petrol-assisted EV options [4][7]. Technological Position - VinFast's technological capabilities are noted to lag behind major rivals, holding fewer than 80 patents compared to Tesla's 347 patent families [3][7].

Core Viewpoint - Li Auto reported a total delivery of 33,181 vehicles in November 2025, bringing the cumulative delivery to 1,495,969 vehicles as of November 30 [1] Group 1: Delivery and Production - The cumulative orders for the pure electric SUVs i6 and i8 have surpassed 100,000 units [1] - To address production capacity, the i6 model has officially adopted a dual-supplier battery strategy to ensure consistent performance and quality standards [1] - The monthly production capacity for the i6 model is expected to gradually increase to 20,000 units by early next year [1] Group 2: Technology and Upgrades - The OTA 8.1 version is scheduled for release in early December, featuring enhancements such as the VLA driver model optimized through reinforcement learning, new functionalities for AI Li Auto assistant, and 20 experience updates related to smart electric charging and temperature control [1] Group 3: Strategic Development - The Chairman and CEO of Li Auto, Li Xiang, stated that the company is building long-term competitiveness through organizational structure, product layout, and technological innovation, driving the evolution of automobiles towards embodied intelligence [1] - As of the end of November, Li Auto has established 544 retail centers across 157 cities, along with 556 after-sales service and authorized repair centers [1]

12月1日，理想汽车公布，2025年11月交付新车33,181辆。截至2025年11月30日，理想汽车历史累计交 付量为1,495,969辆。公司预计，理想i6的月产能将在明年初提升至2万辆，OTA8.1预计于2025年12月初 推送。 ...

Core Insights - Li Auto (理想汽车) announced the delivery of 33,181 new vehicles in November 2025, bringing the total cumulative deliveries to 1,495,969 vehicles as of November 30, 2025 [1] - The company expects to increase the monthly production capacity of the Li Auto i6 to 20,000 units by early next year, with OTA 8.1 expected to be pushed in early December 2025 [1] - Li Auto is focusing on enhancing its competitiveness for the next decade through organizational structure, product layout, and technological innovation, aiming for a transformation towards intelligent vehicles [1] Company Operations - As of November 30, 2025, Li Auto has established 544 retail centers across 157 cities, along with 556 after-sales service and authorized repair centers covering 227 cities [1] - The company has deployed 3,614 Li Auto Supercharging stations, with a total of 20,027 charging piles in operation nationwide [1]

本公司预计，理想i6的月产能将在明年初提升至2万辆，OTA 8.1预计于2025年12 月初推送。本公司正 在从组织体系、产品布局和技术创新三方面构建面向下一个十年的竞争力，推动汽车向具身智能的蜕 变。 智通财经APP讯，理想汽车-W(02015)发布公告，于2025年12月1日，中国新能源汽车市场的领导者理想 汽车(理想汽车或本公司)(纳斯达克：LI;香港交易所：2015)宣布，2025年11月，理想汽车交付新车 33181辆。截至2025年11月30日，理想汽车历史累计交付量为1,495,969辆。 截至2025年11月30日，理想汽车在全国已有544家零售中心，覆盖157个城市;售后维修中心及授权钣喷 中心556家，覆盖227个城市。理想汽车在全国已投入使用3614座理想超充站，拥有20027个充电桩。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Li Auto Inc. 理想汽車 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：2015） 有關更多資料，請瀏覽： https://ir.lixiang.com 。 1 股東及潛在投資者於買賣本公司證券時，務請謹慎行事。 承董事會命 理想汽車 董事長 李想 自願公告 2025年11月交付更新資料 於2025年12月1日，中國新能源汽車市場的領導者理想汽車（「理想汽車」或「本公 司」）（納斯達克：LI；香港交易所：2015）宣佈，2025年11月，理想汽車交付新車 33,181輛。截至2025年11月30日，理想汽車歷史累計交付量為1,495,969輛。 本公司預計，理想i6的月產能將在明年初提升至2萬輛，OTA 8.1預計於2025年12 月初推送。本公司正在從組織體系、產品佈局和技術創新三方面構建面向下一個 十年的競爭力，推動汽車向具身智能的蛻變。 截至2025年11月30日，理想 ...