Xi Niu Cai Jing·2026-01-23 10:21Core Insights - Li Auto is planning to close a number of underperforming retail stores, primarily those opened during its rapid expansion phase, although the exact number of closures is still under evaluation [2] - The company has not yet made an official response to this news [2] Delivery Performance - In 2021, Li Auto delivered 90,500 vehicles, a year-on-year increase of 177.4% - In 2022, the total delivery volume reached 133,200 units, growing by 47.2% - In 2023, deliveries surged to 376,000 units, marking a 182.2% year-on-year growth - For 2024, the expected delivery volume is projected to grow by 33.1% to 500,500 units - However, in 2025, the retail volumes for the Li L7 and L8 models are expected to drop significantly, with year-on-year declines of 66% and 79% respectively, leading to an overall delivery volume of 406,000 units, a decrease of approximately 19% from the previous year [2] Retail Expansion - Li Auto has rapidly expanded its retail channels, adding 179 new retail centers in 2023 alone, reaching a peak expansion rate - By the end of 2025, the company plans to have over 540 retail centers across nearly 160 cities in China [2] Strategic Initiatives - In mid-2025, Li Auto will launch the "Hundred Cities Star Plan," aimed at penetrating lower-tier markets through a light-asset model by recruiting partners [3] - Founded in 2015, Li Auto is recognized as a new force in China's new energy vehicle market, having been listed on NASDAQ and the Hong Kong Stock Exchange in 2010 and 2021 respectively [3] - The company focuses on range-extended electric vehicle technology, targeting the mid-to-large family vehicle segment with the brand philosophy of "creating a mobile home, creating a happy home" [3]