Li Auto Inc. Investors Notice: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

Core Viewpoint - A class action lawsuit has been filed against Li Auto Inc. by shareholders who purchased securities between February 26, 2024, and March 20, 2024, alleging that the company misrepresented vehicle demand and operational strategy, leading to significant financial implications [1][2]. Group 1: Legal Action and Allegations - The lawsuit claims that Li Auto overstated demand for its vehicles and the effectiveness of its strategy for launching the Li MEGA, which resulted in an inability to meet Q1 2024 vehicle delivery estimates [2][3]. - The company revised its Q1 2024 vehicle delivery outlook from an estimated 100,000-103,000 vehicles to a new estimate of 76,000-78,000 vehicles due to lower-than-expected order intake [3]. Group 2: Operational Strategy - Li Auto acknowledged that its operational strategy for the Li MEGA was "mis-paced," indicating that the company was operating under the assumption that it had already entered the scaling phase of sales, while it was still in the validation phase [3]. - The company plans to revert to the validation phase by focusing on its core user group and targeting cities with stronger purchasing power before expanding to a broader user base [3].