Li Auto Aims to Control Key Tech Like Apple and Huawei

Li Auto Inc's (NASDAQ:LI) goal is to become like technology giants Apple and Huawei by controlling key technologies. The Chinese automaker wants to own its own proprietary chips and batteries, which it believes will be crucial in a competitive electric vehicle market.

In its second-quarter earnings call, Li Auto revealed its strategy to invest in in-house technology. CFO Johnny T. Li emphasized that owning key components doesn't mean the company is replacing suppliers like Nvidia Corp (NASDAQ:NVDA) and CATL. He highlighted that Nvidia's chips are still the best in the world, just as CATL's batteries are among the best.

Li Auto has already developed its own autonomous driving chip, battery cells, battery packs, battery management systems, and thermal management technologies. The company plans to roll out Li Auto-branded batteries across its vehicles in the second half of this year.