ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Automobiles

Shanghai lockdown deals blow to EV maker Li Auto's Q2 revenue

Supply chain snarls make normal production 'impossible': president

Chinese electric carmaker Li Auto's forecast for second-quarter revenue misses analysts' estimates.     © Reuters

HONG KONG -- Chinese electric vehicle startup Li Auto expects second-quarter revenue to underperform analysts' estimates by up to 44%, co-founder and President Kevin Shen said, blaming China's monthslong lockdown of Shanghai.

The lockdown of China's largest city has "undoubtedly" caused headwinds to the entire automotive industry, Shen said in a conference call with analysts on Tuesday. The EV maker's revenue is now estimated at 6.16 billion yuan to 7.04 billion yuan ($917 million to $1.05 billion).

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more