China-based EV maker Li Auto-W（02015）(NASDAQ: LI) aims to double production to about 200,000 electric vehicles a year at its Changzhou plant in the Jiangsu province，citing a company executive.
What Happened:
China-headquartered Li Auto currently has an annual production capacity of 100,000 units in its own sole factory at Changzhou.
In order to increase the production capacity of the Li ONE, as well as to produce subsequent new models, Li Auto will increase the annual production capacity of its own Changzhou manufacturing base to 200,000 units by 2022.
Why it matters：
- Li Auto, which competes with local rivals Nio and Xpeng，delivered 90,491 vehicles ，ranking third in annual deliveries last year.
- It is expected that the demand for EV remain strong in 2022, but reduced subsidies for EVs, increased raw material costs, and chip shortages are on-going obstacles for the production.
Some context:
Li Auto has previously revealed ambitions to sell 1.6 million units by 2025; the latest development indicates plans for a more aggressive capacity ramp-up.
Li Auto has invested over 6 billion yuan ($933 million) to its green and smart vehicle plant on in Shunyi District, Beijing last October.
Li Auto has bought huge plot of land in Chongqing to prepare for aggressive capacity expansion.
See Also:
Li Auto CEO Li xiang: NOA navigation-assisted driving is standard for the Li vehicle
