Li Auto's first battery electric vehicle is expected to begin deliveries in the second half of 2023.
Li Auto reported its third-quarter earnings yesterday and revealed a more detailed product roadmap during a subsequent conference call.
The X01, the first model of the company's next-generation X platform with extended-range technology, will be unveiled in the second quarter of 2022, with deliveries expected to begin in the third quarter of next year, Li Auto executives said.
Li Auto has mentioned the X platform before, but did not directly mention the X01. This is the first time we've seen the company's executives mention the X01, which may be a code name for the model rather than its final name.
There is only one model of Li Auto currently on sale - the Li ONE with extended-range technology, which has no range anxiety as one of its biggest selling points because it can be refueled.
In early August, local automotive media cheshi.com reported that Li Auto will release the X01 in 2022, with a full size upgrade compared to the Li ONE.
Li Auto's X01 model measures 5,150/1,980/1,800 mm in length, width and height, which is larger than the current Li ONE's 5,023/1,960/1,755 mm, the specs table from cheshi.com shows.
Its front and rear drive motors are 130 and 200kW respectively, with peak torques of 200 and 450 N-m. This gives it much improved power parameters over the Li ONE, with 0-100km acceleration time narrowed from 6.5 seconds to 5.8 seconds.
It has a 44.5kWh battery capacity and a pure electric range of 155km under WLTC conditions. It also supports fast charging, with a 20-80 percent charge time of 36 minutes.
It has a 65L fuel tank, increasing the WLTC range from 735km to 800km, according to the spec sheet.
The company mentioned during its Hong Kong IPO in mid-August that it plans to launch its first product on the X platform, a full-size luxury extended-range electric SUV, in 2022 and two other SUVs on the X platform in 2023.
Li Auto is developing two platforms - Whale and Shark - for future high-voltage pure electric vehicles, and starting in 2023, the company plans to launch at least two new high-voltage pure electric vehicle models each year, it previously said.
During yesterday's earnings call, Li Auto executives said the company's first battery electric vehicle is expected to begin deliveries in the second half of 2023.
In addition to model plans, Li Auto also revealed more information about its production capacity.
Li Auto currently has a capacity of up to 14,000 vehicles per month and expects to have a capacity of 15,000 vehicles per month at its Changzhou plant by after the upcoming Chinese New Year holiday, the company executives said.
Under previous plans, it will have an annual capacity of 200,000 units by the end of 2022.
Li Auto's plant in Beijing will start production in 2023, with total capacity of 500,000 units and 700,000 units a year in double shifts.
The company also said that while the cost of raw materials is increasing, its battery supplier CATL has not yet raised prices to it, and with battery prices currently stable, Li Auto has no plans to raise prices for its models.
Li Auto will begin pushing its assisted driving software NOA (Navigate on Autopilot) in December, and since NOA comes standard on the 2021 model, December will probably be the largest upgrade of the software.
Li Auto posts Q3 revenue of $1.21 billion, beating expectations
