Benzinga | Sep 20, 2021 05:14AM EDT

Li Auto Cuts Q3 Vehicle Delivery Outlook to ~24,500 Units vs 25,000-26,000 Units Previously Due to Slow Recovery in Chip Supply

Li Auto Inc. ("Li Auto" or the "Company") (NASDAQ:LI) today provided updated delivery outlook for the third quarter of 2021.

Due to the COVID-19 pandemic in Malaysia, the production of chips dedicated for the Company's millimeter-wave radar supplier has been severely hampered. As the recovery of the chip supply has been slower than expected, the Company now expects its vehicle deliveries to be approximately 24,500 vehicles for the third quarter of 2021, revised from the previous outlook of vehicle deliveries between 25,000 and 26,000 units. The Company will continue to monitor the ongoing market conditions and closely work with its supply chain partners to minimize the impact of the chip shortage on its production.