From January 1, 2023, Shanghai will no longer issue free special license plates to individual users as well as corporate users who purchase plug-in hybrid (including extended-range) vehicles.
The decision was made by the eastern Chinese city in the "Shanghai Implementation Measures to Encourage the Purchase and Use of New Energy Vehicles" released today.
This means that starting in 2023, Shanghai consumers who want to purchase the Li ONE, the only model under Li Auto with the extended-range technology, will first need to obtain a license plate for a gasoline vehicle.
Shanghai currently issues gasoline license plates through auctions, with 233,761 people participating in January, of which only 5.7 percent received a plate, with the lowest price sold at RMB 91,800.
It's worth noting in July 2020, Li Auto's prospectus filed with the US Securities and Exchange Commission said it plans to launch a large SUV in 2022 and continue to use extended-range technology.
Earlier this month, Li Auto announced the opening of an R&D center in Shanghai that will focus on cutting-edge development of smart electric vehicle technologies.
These technologies include high-voltage platforms and ultra-fast charging technologies, autonomous driving technologies and next-generation smart cabin technologies, the company said.
The center will also have complete development capabilities for new models, Li Auto said.
At the end of last year, Shanghai increased restrictions on access to vehicles with license plates from other provinces and cities, causing a large number of users to consider purchasing new energy vehicles that can obtain local license plates, especially models from Tesla, NIO and XPeng Motors.
(Source: Li Auto)