On the evening of April 22, Li Auto’s Legal Department issued a statement refuting recent online rumors such as “a user’s vehicle system in Hangzhou was hacked” and “Li Auto cooperated in smuggling vehicles out of the country.” The rumors first emerged on various online platforms in early April, initially as scattered claims that “Li Auto’s infotainment system was hacked.” They then continued to evolve and escalate, eventually forming the core false narrative: “A Hangzhou user’s vehicle system was hacked, and Li Auto cooperated in smuggling the vehicle out of the country.” Due to the highly contentious nature of the claims, the rumor spread rapidly across social media platforms, causing serious damage to Li Auto’s brand reputation. In its statement, Li Auto’s Legal Department clearly addressed four core issues: First, regarding the “smuggling” allegation: Li Auto has never been involved in any illegal transfer of the vehicle in question, and the claim of “smuggling” is completely inconsistent with the facts. Second, regarding the “hacking” allegation: All remote operations on the involved vehicle were performed by the vehicle’s registered owner using their own account, and there was no “hacking” involved. Third, regarding the store service process: Based on the application from the vehicle’s registered owner, a Li Auto store provided standard key services, and the operating procedures complied with regulations. Fourth, regarding the nature of the incident: This incident involves complex disputes among multiple parties. Preliminary verification indicates that the physical vehicle key had passed through a third party. Li Auto will continue to assist the police with the investigation in accordance with the law. With the auto show approaching, Li Auto is advancing its product plans while responding to external doubts. According to the plan, the all-new Li Auto L9 and L9 Livis will officially debut on April 24, the opening day of the Beijing Auto Show, and will be officially launched on May 15. Additionally, in the second half of 2026, an all-new pure electric flagship SUV, the Li Auto i9, will be launched, further enriching the product matrix. From a market performance perspective, 2025 was a challenging year for Li Auto. Financial data shows that in full-year 2025, Li Auto delivered 406,343 new vehicles, with total revenue of RMB 112.3 billion and net profit of RMB 1.1 billion, all declining year-over-year. Notably, signs of recovery emerged in the first quarter of 2026. In March, the company delivered 41,100 new vehicles, an increase of 11.94% year-over-year and 55.38% month-over-month. Cumulative deliveries in the first quarter reached 95,000 units, meeting the previously announced delivery guidance of 85,000 to 90,000 units. Looking ahead, Li Auto has set a target of achieving over 20% year-over-year growth in 2026, aiming for annual sales of more than 480,000 vehicles.
