Market Insight | LI AUTO-W Surges Over 6% Recently Formally Reached Strategic Cooperation on Charging Business with Sinopec

LI AUTO-W rose by over 6%, as of the time of publication, it rose by 6.34% to HKD 102.3, with a turnover of HKD 1.137 billion. On the news front, recently, LI AUTO has officially reached a strategic cooperation on charging business with Sinopec, marking the comprehensive opening of cooperation in the field of new energy vehicle charging between the two parties. According to the agreement, the two parties will jointly promote in-depth cooperation in charging station construction, platform interconnection, car maintenance card rights, and other aspects, working together to provide users with a more convenient and efficient vehicle replenishment experience. It is reported that the first joint station of LI AUTO and Sinopec was put into operation at Hechuan Service Area in Chongqing on July 1, 2024, equipped with one 5C full liquid-cooled ultra-fast charging terminal with a maximum power of up to 520kW and three 2C fast charging terminals with a maximum power of 250kW. As of October 1, 2024, the cumulative number of LI AUTO supercharging stations has exceeded 900, with over 550 high-speed LI AUTO supercharging stations, achieving full coverage of core cities in the Beijing-Tianjin-Hebei region, Yangtze River Delta, Greater Bay Area, and Chengdu-Chongqing Economic Belt; and over 340 urban supercharging stations covering 64 cities nationwide