Li Auto's midsize Li L6 and non-SUV form factor Li L5 will stick to the RMB 200,000-300,000 price range, the company's CEO said.
(Image credit: Li Auto)
The helmsman of Li Auto (NASDAQ: LI) teased another new model from the company, with the launch of the new SUV Li L7 less than 10 days away.
The full-size Li L9 will stay in the RMB 400,000-500,000 price range, and the mid to large size Li L8 and Li L7 will continue to target the RMB 300,000-400,000 price range, Li Auto founder, chairman and CEO Li Xiang said today on Weibo.
Li Auto's midsize Li L6 and non-SUV form factor Li L5 will stick to the RMB 200,000-300,000 price range, he said.
The company will not launch models priced under RMB 200,000 and will strictly adhere to the price range of the three size classes -- full-size, mid to large-size, and mid-size, he said.
This is the first public mention of the Li L5 model, and Li Auto will host the launch of the Li L7 on February 8, with show cars and test cars arriving at Li Auto's retail centers beginning February 9.
The Li L7 is Li Auto's first five-seat model, measuring 5,050 mm long, 1,995 mm wide and 1,750 mm high, with a wheelbase of 3,005 mm, Li Auto previously said.
Li Auto launched its second model, the Li L9, on June 21, 2022, and deliveries of the model began on August 30 last year. The company's first model, the Li ONE, was discontinued in October.
The Li L9 is priced at the same flat rate as the Li ONE at RMB 459,800, which is RMB 110,000 higher than the Li ONE's RMB 349,800.
The Li L8, a mid to large-size SUV slightly smaller than the Li L9, went on sale on September 30, 2022. Li L8 includes two versions, Pro as well as Max, with starting prices of RMB 359,800 and RMB 399,800, respectively, and deliveries begin November 10.
Li Auto originally planned to offer six- and five-seat versions of the Li L8, but later adjusted its strategy by releasing the model's six-seat version as the Li L8 and the five-seat version as the Li L7.
On September 30, Li Auto made the Li L7 a brief appearance at the official launch of the Li L8 and began accepting reservations.
The Li L7 also includes two versions, Pro as well as Max, with starting prices of RMB 339,800 and 379,800 respectively.
When announcing the launch date of the Li L8 on September 22, Li Auto said it would also launch the Li L6, a mid-size five-seat SUV priced within RMB 300,000.
Li Auto is building a more complete and clear product sequence, with the L standing for the extended-range platform SUV range and the number size representing the model size class, the company said at the time.
So far, all of Li Auto's models are extended-range electric vehicles (EREVs), which are essentially plug-in hybrids.