Chinese EV maker Li Auto eyes global market with Hong Kong headquarters

Core Viewpoint - Li Auto has established its international headquarters in Hong Kong to facilitate overseas expansion amid increasing domestic competition in the electric vehicle (EV) market [1][2]. Group 1: Company Developments - Li Auto is one of the few profitable EV makers in mainland China and is actively planning to expand its presence in Hong Kong while growing its local team [4]. - The company delivered 33,951 units in September, marking a 36.8% decline compared to the same period in 2024, continuing a downward trend for the fourth consecutive month [6]. Group 2: Industry Context - Domestic competitors like BYD and Zeekr are also selling smart EVs in Hong Kong, while new entrants like BeyonCa plan to assemble EVs in the city [3]. - Chinese EV manufacturers are increasingly focusing on international expansion due to excess capacity and intense price competition in the domestic market, aiming to leverage their design and manufacturing strengths against global competitors like Volkswagen and Toyota [5]. Group 3: Strategic Importance of Hong Kong - Hong Kong is viewed as a strategic base for Li Auto to manage research and development, intellectual property, and international supply chain functions [1]. - The city is recognized for its advantages as an international innovation and technology hub, offering world-class research talent and a vibrant capital market, which are attractive to mainland enterprises [5][7].