Asia Tech Wire (Oct 31) -- Chinese electric vehicle maker Li Auto Inc. on Thursday released its financial results for the quarter ended September 2024, showing a 23.6% year-on-year increase in revenue to 42.9 billion yuan ($6.1 billion).

Compared with 31.7 billion yuan in the second quarter of 2024, Li Auto's third-quarter revenue increased 35.3%.

Li Auto reported net income for the quarter of 2.8 billion yuan, an increase of 0.3% from 2.8 billion yuan in the third quarter of 2023 and an increase of 156.2% from 1.1 billion yuan in the second quarter of 2024.

Li Auto delivered 152,800 electric vehicles in the third quarter of 2024, up 45.4% year-over-year.

The company disclosed revenue from vehicle sales of 41.3 billion yuan for the quarter, an increase of 22.9% from 33.6 billion yuan in the third quarter of 2023 and an increase of 36.3% from 30.3 billion yuan in the second quarter of 2024.

Li Auto expects deliveries in the fourth quarter of 2024 to be 160,000 to 170,000 units, up 21.4% to 29.0%, and revenues to total 43.2 billion yuan to 45.9 billion yuan, up 3.5% to 10.0%.