Chinese electric-vehicle maker Li Auto reported a profitable Q4 as the company increased spending on vehicle development, according to a press release by Li Auto on Friday.

  • The Chinese EV maker reported a net income of RMB295.5 million ($46.4 million) in Q4 of 2021, compared to RMB107.5 million net income in Q4 of 2020. 
  • The company’s vehicle sales were RMB10.38 billion ($1.63 billion) in Q4 of 2021, an increase of 155.7% from RMB4.06 billion in Q4 of 2020.
  • Total revenues of the Chinese EV maker were RMB10.62 billion ($1.67 billion) in Q4 of 2021, an increase of 156.1% from RMB4.15 billion in Q4 of 2020.
  • Li Auto’s gross profit was RMB2.38 billion($373.5 million) in the fourth quarter of 2021, a surge of 228.5% from RMB724.6 billion in Q4 of 2020 and an increase of 31.3% from RMB1.81 billion in Q3 of 2021.

Deliveries of Li ONE were 35,221 vehicles in Q4 of 2021, representing a 40.2% quarterly increase and a 143.5% YOY surge. Li Auto up +4.78%