Li Auto said the information circulating on the Internet about it signing a deal with an Uzbek company is false.

(Image credit: CnEVPost)

As Chinese electric vehicles (EVs) have gained widespread interest, fraudulent activities have begun to emerge.

Beijing-based Li Auto (NASDAQ: LI) said today that its name was fraudulently used to sign a sales deal with an Uzbek company, and that it has reported the incident to public security authorities.

Earlier today, multiple images circulating on Weibo and WeChat showed Li Auto signing up for a sales authorization with an Uzbek company called Yas Auto on April 12 in Hangzhou, Zhejiang province.

These images show people suspected to be from Yas Auto visiting Li Auto's production facility in Changzhou, Jiangsu province.

(Image credit: @德卤爱开车 on Weibo)

In a Weibo statement, the company's legal department said that recent images circulating on the Internet of Li Auto signing a deal with an Uzbek company were false.

The pictures showing the signing of a sales authorization in Uzbekistan are not an official act of Li Auto, and they are an attempt to create and disseminate false information under the company's name, the statement said.

Li Auto has not organized and hosted any factory tours for dealers, it said, adding that it has collected evidence and reported the case to the public security authorities regarding the description of the people who allegedly entered Li Auto's factory for a tour.

The details are subject to the outcome of the police investigation, the company said.

Li Auto has yet to enter overseas markets, and its founder, chairman and CEO Li Xiang said in July 2023 that the company would not enter overseas markets before 2025.

In the first two weeks of July 2023, more than 200 of Li Auto's vehicles were privately exported, Li said at the time, adding that the company found that Central Asia and the Middle East were the main destinations to which these vehicles were exported.

Notably, Li Auto appears to have accelerated its move overseas, saying in a February 26 earnings call that it has established a presence in the Middle East, launching the recruitment of a local sales and service team in Dubai.

Li Auto plans to establish a dedicated after-sales service network in Central Asia and the Middle East in the first half of this year, its management said in the call.

Li Auto reportedly lowers 2024 sales target to 560,000-640,000 cars