Li Auto faced significant headwinds in Q3 2025, reporting lower revenues and a net loss due to reduced deliveries and one-time costs from a major vehicle recall, though its BEV lineup gained momentum.

Li Auto delivered 111,074 vehicles in Q2 2025, achieving $4.2 billion in revenue and maintaining healthy margins. Net income remained flat year-over-year at $153.1 million, while operating income rose significantly quarter-over-quarter. The company also launched its new BEV model, the Li i8, during the quarter.

In Q1 2025, Li Auto achieved $3.57 billion in revenue and $89 million in net income. Margins remained healthy, and vehicle deliveries increased year-over-year despite a seasonal dip in operations and free cash flow.

Li Auto posted Q4 2024 revenues of $6.1 billion, a 6.1% YoY increase, driven by higher vehicle deliveries. However, net income declined by 38.6% YoY to $484.0 million, reflecting margin pressures. Non-GAAP net income stood at $553.4 million. Operating income increased by 22% YoY, while free cash flow fell by 58.6%.