Li Auto Inc. (NASDAQ:LI) shares are down after the company announced a delay in the launch and delivery of its Li MEGA vehicle. Originally slated for a December 2023 launch with deliveries in late February 2024, the new timeline sets the launch for March 1, 2024, with deliveries in early March. Despite this, Li Auto reported a 137.1% year-over-year increase in vehicle deliveries for December 2023, achieving its target of 50,000 vehicles for the month. The fourth-quarter deliveries were up 184.6% year over year, and total 2023 deliveries increased by 182.2% to 376,030 vehicles. Li Auto now has over 600,000 cumulative deliveries, the highest among Chinese emerging new energy automakers. The company also expanded its retail and service network. However, shares dropped by 7.72% to $34.54.