Gasgoo, August 26. Li Auto released unaudited financial results for the second quarter of 2026. It delivered 98,330 vehicles in the period, up 3.4% from the previous quarter. Revenue rose 11.7% quarter-over-quarter to 25.7 billion yuan. Overall gross margin improved by 3.1 percentage points to 11.0%.Image source: Screenshot from Li Auto's Q2 2026 financial report.In the first half of the year, Li Auto led sales among Chinese brands in the new-energy vehicle market priced above 200,000 yuan. Vehicle revenue hit 24.1 billion yuan in the second quarter with a vehicle gross margin of 9.4%. R&D spending reached 2.8 billion yuan, or 10.8% of revenue. This marked the sixth consecutive quarter of investment at the 3-billion-yuan level. Selling, general, and administrative expenses fell 16.2% year-on-year to 2.3 billion yuan.Li Auto held cash reserves of 87.5 billion yuan at the end of the second quarter. The company had executed over $630 million of its $1 billion share repurchase program as of August 26, fulfilling 63% of the planned amount.Li Auto launched refreshed versions of the Li Auto L9 and Li Auto L8 and the new-generation Li Auto L6 between May and July. Cumulative production of the fully electric Li Auto i6 surpassed 180,000 units by August. It secured a spot in the top three for sales in the 200,000-yuan-and-up segment for six straight months.Li Auto forecasts third-quarter deliveries of 95,000 to 100,000 vehicles, with revenue projected between 26.6 billion and 28.0 billion yuan. The company will officially launch the next-generation Li Auto MEGA and the fully electric flagship SUV Li Auto i9 in September. The new Li Auto L9 is set to debut in Dubai, marking the brand's entry into the Middle Eastern market.
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