Li Auto has achieved a significant milestone by putting its 1,000th supercharging station into operation in China. This marks a significant achievement for the company, but it also highlights the challenges it faces in reaching its ambitious goal of having more than 2,000 supercharging stations by the end of the year.
The 1,000th charging station was launched on Mount Everest, the highest-altitude charging station in Li Auto’s network. With stations spread across 175 cities in 31 provinces in China, the company now offers 4,888 chargers to its customers.
Li Auto embarked on building its own supercharging stations in the first half of 2023, opening the first seven stations for trial operation in April of that year. The company set a target of having over 2,000 supercharging stations by the end of 2024, which equates to adding 1,000 new stations in the next two months.
However, this target seems challenging as Li Auto has only been adding an average of 2.4 stations per day in the first 10 months of this year. The company aims to have more than 5,000 supercharging stations by 2025, covering 90 percent of main highway routes and core urban areas in Tier 4 and more developed cities.
During an earnings call, Li Auto management revised their target to 4,000 supercharging stations by the end of 2025. This adjustment comes amidst lower-than-expected sales of the Li Mega MPV, the company’s first battery electric vehicle model. Additionally, the release of new BEV models has been delayed to the first half of 2025.
Li Auto emphasized the need for a sufficient number of self-operated superchargers to support the sale of all-electric SUVs. The company aims to have a similar number of self-operated superchargers as Tesla China before bringing its all-electric products to market. Tesla currently boasts over 60,000 charging stations worldwide, with more than 2,000 stations in China alone.
Li Auto’s third-quarter earnings exceeded expectations, but the fourth-quarter guidance appears to be disappointing. The company’s management will address these results in an earnings call scheduled for later today.
In conclusion, Li Auto’s progress in expanding its supercharging station network is commendable, but the company faces challenges in meeting its aggressive targets. Balancing sales targets with infrastructure development will be crucial for Li Auto’s future success in the competitive electric vehicle market.
