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(Yicai) Sept. 8 -- Li Auto, a Chinese smart electric vehicle brand, refuted a news report about its alleged plans to start making autonomous trucks.
The automobile marque was recently hiring talents with a background in autonomous trucks but the reason is that it is using smart logistics to carry out a high-efficiency auto parts distribution project, 36Kr reported today, citing an insider.
Chinese news outlet Jiemian reported earlier today, citing a source that said that Li Auto is hiring via multiple headhunters to fill positions including that of a director of smart truck technologies in preparation to enter the sector. The new business is likely to be led by Lang Xianpeng, vice president of smart driving, it added.
People familiar with the matter said to Jiemian that in June, Li Auto's management decided to make a self-driving truck debut, planning to achieve some milestones already next year.
Li Auto recorded a net profit of CNY3.2 billion (USD435.7 million) in the first half, offsetting its net loss over the past three years, according to the Beijing-based firm's earnings report. In 2023, the company expects to surpass CNY100 billion (USD13.6 billion) in revenue. As of June 30, Li Auto's free cash flow surged to CNY9.6 billion, up from CNY452 million (USD61.6 million) logged a year ago. Its cash reserves amounted to CNY73.8 billion (USD10 billion).
Editor: Emmi Laine