Chinese new energy vehicle maker Li Auto today announced a special finance package valid for the next month to further strengthen its leadership position of its sole model, the Li ONE, in the new energy SUV market in China.
According to the program posted on the company's WeChat account, customers who lock in their orders between March 1 and March 31, 2021, and submit their financial review by April 10 will be eligible for an interest-free loan for up to two years.
Li Auto said customers can opt for 1-2 years interest-free with down payments starting at 50 percent.
In addition, customers can also choose a low down payment and low-interest rate plan with down payments as low as 15 percent and annualized rates starting at 0.99 percent.
Li Auto emphasizes that no financial service fees will be charged.
Li ONE is positioned as a mid-size SUV and is currently available in 2020 models in extended range 6-seater and extended range 7-seater versions for RMB 328,000 ($50,740).
According to the finance plan offered by Li Auto, two years of interest-free can save consumers about RMB 13,000 in interest. And if customers choose the low down payment option, they can make a minimum down payment of RMB 49,200.
Li Auto delivered 14,464 Li ONEs in the fourth quarter of 2020, a 67.0 percent increase over the previous quarter and a new quarterly delivery high. It delivered 32,624 units for the full year of 2020.
The company expects to deliver between 10,500 and 11,500 vehicles in the first quarter, an increase of 262.6% to 297.1% over the first quarter of 2020.