Li Auto delivered 40,422 vehicles in October, marking the first time it has surpassed the 40,000 mark and the seventh consecutive record high.

Li Auto delivered 40,422 vehicles in October, marking the first time it has surpassed the 40,000 mark and the seventh consecutive record high.

Li Auto (NASDAQ: LI) saw another record month of deliveries as its strong growth momentum continues.

The extended-range electric vehicle (EREV) maker delivered 40,422 vehicles in October, surpassing the 40,000 mark for the first time and its seventh consecutive record high, according to data it released today.

That's a year-on-year increase of 302.13 percent and a 12.1 percent increase from September, the ninth sequential increase.

Li Auto's three models currently on sale are the Li L7, Li L8, and Li L9, all of which are EREVs, essentially plug-in hybrids that have a larger market space than battery electric vehicles (BEVs).

"Li Auto has led the sales chart of SUVs priced above RMB300,000 for six straight months, becoming the best-selling premium brand among SUVs in China," said Li Xiang, the company's founder, chairman and CEO.

"Our Li L series maintained its broad market appeal, with Li L9 topping the full-size SUV market for thirteen consecutive months, while Li L7 and Li L8 have ranked first and second place in the large SUV market for six consecutive months, respectively," he added.

During the January-October period, Li Auto delivered 284,647 vehicles, a year-on-year increase of 193.51 percent.

By the end of October, Li Auto's cumulative deliveries since its inception stood at 541,981 units, data monitored by CnEVPost showed.

Li Auto upgraded its plant in Changzhou, Jiangsu province in eastern China, during the National Day holiday early last month, moving all lines to double-shift production.

Prior to the upgrade, Li Auto's weekly production capacity was just under 8,000 units. For the week of October 23 to October 29, Li Auto sold 10,000 vehicles, according to figures it released yesterday.

Li Auto is building its first BEV, the Li Mega, an MPV (Multi-Purpose Vehicle), which will be produced at its plant in Beijing, where it is headquartered.

"Furthermore, Li MEGA, our super flagship 5C BEV model, has garnered widespread attention ahead of its official launch, underscoring our potential to build the best-selling model among vehicles priced above RMB500,000 for multi-generational households in China," Li Auto said today.

As of October 31, the company had 372 retail stores in 133 cities and 315 repair centers and Li Auto authorized body and paint stores in 210 cities.

Li Auto to report Q3 earnings on Nov 9