February 26th news, today, Li Auto released its Q4 and full-year financial report for 2023.
During the subsequent earnings call, Li Auto's CEO, Li Xiang, stated that for the next 5 years, Li Auto will not produce models priced below 200,000 RMB.
He anticipates that by 2030, in the Chinese market for households with an annual income exceeding 200,000 RMB, Ideal only needs to capture one-third of the market to achieve a revenue exceeding a trillion RMB.
Li Xiang stated, "This is a massive goldmine, there's no need to divert our focus elsewhere."
"If we can also perform well overseas, by 2030, solely in the market of households with an annual income exceeding 200,000 RMB, Ideal could achieve a revenue close to that of the iPhone on a global scale," said Li Xiang.
According to the financial report, Ideal Auto recorded a revenue of 41.73 billion RMB in the fourth quarter of 2023, a year-on-year increase of 136.4%. The total revenue for the year 2023 reached 123.85 billion RMB, marking a year-on-year growth of 173.5%.
This implies that Ideal Auto has become the first new energy vehicle company in China to surpass 100 billion RMB in annual revenue.
As per the financial report, the majority of Ideal Auto's revenue comes from vehicle sales, with vehicle sales revenue reaching 120.29 billion RMB in 2023.
