Li Auto announced a loss for the first time in three years (2 photos)
Chinese automaker Lixiang, also known as Li Auto, announced a loss for the third quarter of 2025. According to Cnevpost, this is the company's first financial loss since the end of 2022; Lixiang had previously been profitable. The deterioration is attributed to reduced deliveries and repair costs for Mega vans. 
Lixiang ended the third quarter with a net loss of 624 million yuan (approximately $90 million). Meanwhile, the company posted a profit of 2.8 billion yuan (approximately $400 million) in the same period last year, and earned 1.1 billion yuan (approximately $155 million) in profit in the second quarter of 2025.
During the reporting period, Li Auto delivered 93,200 vehicles to customers, a 40% decrease year-on-year. On a quarterly basis, the decline was 16%. Consequently, the manufacturer's revenue decreased by 37.4%. The decrease in production volumes led to an increase in the cost per unit.
Furthermore, the company has already spent approximately 1.1 billion yuan recalling Mega electric vans. This recall was triggered by a fire in one of the vehicles, which resulted in the complete destruction of the vehicle. After an investigation, Lixiang engineers concluded that thermal runaway of the van's battery is possible, requiring repairs on 11,400 vehicles produced in 2024. 
In the fourth quarter, the company expects to deliver between 100,000 and 110,000 vehicles. This is slightly more than the previous quarter, but year-on-year, the decline in volume will be between 30% and 37%. Cash receipts will decline more significantly, by between 34% and 40%.
