Li Auto plans to sell its internally developed technologies to third-party customers. The offering includes Mach driver-assistance chips and electric vehicle range-extender technology. This strategic pivot follows a similar initiative by competitor Xpeng.
The company seeks new revenue streams to offset recent financial pressures. Li Auto reported a net loss for the second quarter. Revenues declined by more than 15% during the same period.
Li Auto has held discussions with potential customers regarding its Mach M100 chip. No formal supply agreements have been confirmed at this time. Shares rose 1% in pre-market trading following the report.