Li Auto expects shipment growth in the fourth quarter of this year

Chinese premium hybrid vehicle maker Li Auto expects shipments to increase in

fourth quarter of this year, but speaks oflosses in the third quarter. The company ended the previous quarter with a net loss of 1.65 billion yuan ($237 million), bringing the manufacturer's net loss up from the same period a year earlier, when the company reported a loss of 21.5 million yuan. Li Auto's current losses are attributed to a significant increase in the cost of materials and a global shortage of chips in the automotive industry. The company expects to increase deliveries and expand production and intends to deliver between 45,000 and 48,000 vehicles this quarter, up 36.3% from the same period a year earlier. The manufacturer's revenue in the fourth quarter will grow by 65.8% compared to last year. The company believes that it will be able to return to profitability after the normalization of supplies of semiconductors and increase in production.