$LI AUTO-W(02015)$ (Yicai) Oct

(Yicai) Oct. 9 -- Chinese new energy vehicle startup Li Auto is accelerating its chip development efforts by setting up a new research and development office in Hong Kong to attract overseas talent, LatePost Auto reported

As smart driving technology rapidly develops, Chinese carmakers are trying to steal a march on their rivals by developing their own chips. Beijing-based Li Auto is working on two, and has finished designing one for intelligent driving, the report said.

In the first nine months of this year, Li Auto’s vehicle deliveries increased 40 percent from a year earlier to 341,812 units, ranking first among electric vehicle startups in China. Nio and Xpeng delivered 149,281 and 98,561, up 36 percent and 21 percent, respectively

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