Li Auto Inc. Drives Past the 1.5‑Million‑Vehicle Milestone While Investor Sentiment Swells
Li Auto Inc. (NASDAQ: LI; HKEX: 2015), the Chinese manufacturer of smart new‑energy electric SUVs, announced a December 2025 delivery count of 44,246 vehicles, pushing its fourth‑quarter deliveries to 109,194 and bringing cumulative deliveries to 1 540 215. The company just surpassed the 1.5‑million‑vehicle threshold, a key performance indicator that signals scale‑up capability and market acceptance in China’s fiercely competitive electric‑vehicle (EV) arena.
The December shipment figure is 22 % higher than the 35,000‑plus units delivered in the same month the previous year, and it reflects Li Auto’s aggressive production ramp‑up at its Shanghai plant. Even after the seasonality dip that usually characterises Q4, the company’s volume growth remains robust. Analysts note that the 1.5 million mark is a psychological barrier; once crossed, it tends to attract additional institutional buying as firms reassess the company’s long‑term valuation prospects.
Investor Psychology Turns Bullish
Just hours before the delivery announcement, option‑trading data from TipRanks revealed a surge in bullish call activity. As of 12:25 p.m. on December 31, 2025, 17,182 call contracts were traded—three times the expected volume—while the implied volatility climbed to 41.19 %. The put/call ratio fell to 0.36, indicating that investors are willing to pay a premium for upside exposure. The most active strikes are 17 and 18 calls, with around 6,400 contracts traded between them.
This option‑flow spike is a classic indicator of a market turning bullish. Traders interpret the 41 % implied volatility as a sign that they expect the stock price to move significantly in the near term, likely driven by the December deliveries and the looming February earnings report. The timing of the call surge—right before the company’s earnings release on February 26—suggests that market participants are positioning themselves for a potential upside, perhaps buoyed by the company’s ability to meet production targets and the positive sentiment surrounding China’s EV push.
Valuation in Context
Li Auto trades at a price‑earnings ratio of 28.46, well above the average for the consumer discretionary sector but not uncommon for high‑growth EV players. With a market cap of approximately 131 billion HKD (≈ $16 billion USD), the company sits comfortably within the valuation range of its peers such as NIO, Xpeng, and BYD. The December delivery numbers, combined with a surge in bullish call volume, may prompt analysts to revisit their price targets. If earnings per share (EPS) beats expectations—particularly given the company’s recent cost‑control initiatives—market sentiment could translate into a meaningful price rally.
Strategic Implications
Li Auto’s latest delivery data underscores its production scalability. The company’s hybrid‑power architecture—combining a battery with an integrated range‑extender—has differentiated it from pure‑electric competitors and helped it capture market share in mid‑priced segments. By crossing the 1.5 million‑vehicle threshold, Li Auto signals operational maturity and a solidified supply chain, reducing the risk of production bottlenecks that have plagued other EV makers.
Moreover, the surge in bullish call activity suggests that investors are optimistic about Li Auto’s upcoming earnings. The February 26 earnings call will provide further clarity on revenue growth, gross margin expansion, and future vehicle deliveries. Should the company maintain or accelerate its delivery momentum while tightening margins, it could justify a higher valuation multiple.
Bottom Line
Li Auto’s December 2025 delivery performance and the corresponding bullish option flow paint a picture of a company that is not only meeting but exceeding expectations in a rapidly evolving EV market. The 1.5 million‑vehicle milestone is more than a numerical achievement—it is a strategic signal of scale, efficiency, and market confidence. Investors and market observers should watch the February earnings announcement closely; the data suggest that Li Auto is poised to capitalize on its production gains and potentially deliver a significant upside for shareholders.
