HONG KONG -- Chinese electric vehicle startup Li Auto expects second-quarter revenue to underperform analysts' estimates by up to 44%, co-founder and President Kevin Shen said, blaming China's monthslong lockdown of Shanghai.
The lockdown of China's largest city has "undoubtedly" caused headwinds to the entire automotive industry, Shen said in a conference call with analysts on Tuesday. The EV maker's revenue is now estimated at 6.16 billion yuan to 7.04 billion yuan ($917 million to $1.05 billion).
