Li Auto
Q4 2022 Earnings Call
Feb 27, 2023, 7:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Thank you for standing by, and welcome to the Li Auto Inc. fourth-quarter and full-year 2022 Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session.
[Operator instructions] I would now like to hand the conference over to Ms. Janet Chang, Li Auto IR director. Please go ahead.
Janet Chang -- Director, Investor Relations
Thank you, operator. Good evening, and good morning, everyone. Welcome to Li Auto's fourth-quarter and full-year 2022 earnings conference call. The company's financial and operating results were published in the press release earlier today and are posted on the company's IR website.
On today's call, we have our founder, chairman, and CEO, Mr. Xiang Li, and our CFO, Mr. Johnny Tie Li, begin with prepared remarks. Our president, Mr.
Donghui Ma; and our CTO, Mr. Yan Xie, will join for the Q&A discussion. Before I continue, please be reminded that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the views expressed today. Further information regarding risks and uncertainties is included in certain company filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange.
The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Please also note that Li Auto's earnings press release and this conference call include discussions of unaudited GAAP financial information, as well as unaudited non-GAAP financial measures. Please refer to Li Auto's disclosure documents on the IR section of our website, which contains a reconciliation of the unaudited non-GAAP measures to comparable GAAP measures. Our CEO will start the remarks in Chinese for about five minutes.
There will be English translation follows after he's finished all his remarks. With that, I will now turn the call over to our CEO, Mr. Xiang Li. Please go ahead.
Xiang Li -- Founder, Chairman, and Chief Executive Officer
[Foreign language] Hi, everyone, and thank you for joining our call today. 2022 was another year of explosive growth for new energy vehicles in China as more consumers embrace NEVs. According to the China Passenger Car Association, the penetration rate of new energy passenger vehicles reached 31.7% in Q4 2022, compared to 14.8% in 2021 and 29% in Q3 2022. Our business continued to grow rapidly.