Benzinga·2025-11-28 14:58Core Viewpoint - Li Auto Inc. is expanding its product line beyond vehicles into wearable AI technology with the upcoming launch of its AI glasses, Livis, amidst ongoing financial challenges and declining vehicle demand [1][5]. AI Wearables Expansion - The Livis glasses will feature Li Auto's voice assistant, Lixiang Tongxue, allowing users to access AI capabilities through a lightweight device [2]. - The assistant operates on the Mind GPT system, providing answers to everyday questions, supporting creative tasks, and including a "Children Mode" for younger users [3]. - Founder and CEO Li Xiang described Livis as the company's most advanced AI accessory, with plans for further AI products like an AI-powered speaker to enhance its ecosystem [3][4]. Financial Struggles - Li Auto reported a fiscal third-quarter revenue of 27.4 billion yuan (approximately $3.80 billion), a 36.2% decrease year-over-year, slightly exceeding analyst projections [5]. - Auto revenue fell by 37.4% to around $3.6 billion, with vehicle deliveries dropping to 93,211 units from 152,831 in the same quarter last year [5]. Outlook - For the fourth quarter of 2025, Li Auto projects revenue between 26.5 billion and 29.2 billion yuan, indicating a year-over-year decline of 40.1% to 34.2%, which is below analyst expectations of $5.22 billion [6]. - The company anticipates vehicle deliveries between 100,000 and 110,000 units for the next quarter, representing a decline of over 30% compared to the previous year [6]. Competitive Landscape - Li Auto faces significant competition from Tesla and BYD as the Chinese EV market experiences a slowdown and pricing pressures remain high [7].