Li Auto plans to launch four new models in 2024, including an EREV and three BEV models.
Li Auto (NASDAQ: LI) will launch more models next year to strengthen its position in the premium market.
Li Auto plans to launch four new models in 2024, including an SUV with extended-range technology and three battery electric vehicle (BEV) models, the company's management said in an analyst conference call following yesterday's announcement of second-quarter earnings.
The company currently has three models on sale -- the Li L7, Li L8, and Li L9 -- all of which are extended-range electric vehicles (EREVs).
By 2025, Li Auto's product lineup will include one super flagship model, five EREVs, and five BEVs, it said on April 18, the first day of the Shanghai auto show.
Li Auto's models for the market priced above RMB 200,000 will fully meet the needs of home users by 2025, the company previously said.
Li Auto's super-flagship model is expected to be the Li Mega, which will be released in the fourth quarter, and the company said it is confident that the MPV will be the top seller in China priced above RMB 500,000 ($69,370).
On September 22, 2022, Li Auto said in a Weibo post that it will launch the Li L6, a midsize five-seat SUV priced in the RMB 300,000 range.
Li Auto is very confident about the competitiveness of the Li L6, and the model is expected to be the highest-seller in its L-series, the company's management said yesterday.
Li Auto, which has sold more than 30,000 units in each of the past two months, is aiming to challenge 40,000 sales in a single month in the fourth quarter, although it is being held back by capacity constraints.
Li Auto's manufacturing base in Changzhou, Jiangsu province, has two production lines with a maximum monthly capacity of 50,000 units under double shifts, with the main bottleneck being in parts supply, its management said yesterday.
After its sales exceeded expectations at the beginning of the year, Li Auto made plans for capacity enhancement in the second quarter, but the production lines for parts are still being commissioned and it believes capacity will be released soon, its management said.
For 2024-2025, Li Auto has prepared capacity planning to meet production and delivery requirements, the company said.
Li Auto is confident that it can challenge the sales of German luxury carmakers Mercedes-Benz, BMW and Audi in China in 2024, aiming to become the No. 1 selling premium brand in China, the company said.
Mercedes-Benz, BMW and Audi are the current top-selling premium brands in China, with sales of 63,900, 58,100 and 57,500 units respectively from July 1 to 30, according to data shared by Li Auto on Weibo earlier this month.
($1 = RMB 7.2077)
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