Li Auto to launch facelifts for existing models in Mar

Li Auto's 2024 models will have configuration updates and will be launched and begin deliveries in March, it said.

(Image credit: CnEVPost)

Li Auto (NASDAQ: LI) said it will launch facelifts for existing models in March and acknowledged the car-buying incentives being offered, after rumors circulated earlier today that the company was offering significant discounts.

In 2024, Li Auto will refresh the L-series models with configuration updates and the 2024 models will be launched and begin deliveries in March, the company said in a statement today.

The L-series models have cumulatively sold more than 420,000 units since the initial launch in 2022, making them the product of choice for families, the company said.

"With the Chinese New Year approaching, we are offering purchase incentives on 2023 models, and we welcome you to visit our stores for details," Li Auto said.

The models Li Auto is currently selling are the Li L7, Li L8 and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.

Its statement didn't provide any more details, including whether all three models will see a facelift roll out in March.

Earlier today, several Weibo bloggers said that Li Auto is offering a New Year's discount of RMB 33,000 ($4,610) for the Li L7, RMB 34,000 for the Li L8 and RMB 36,000 for the Li L9.

Li Auto had planned to launch its first battery electric vehicle (BEV) model, the Li Mega MPV (Multi-Purpose Vehicle), in December 2023, but it has been delayed to March 1, with deliveries set to begin in March.

Founded on July 1, 2015 and headquartered in Beijing, Li Auto is currently the most well-known EREV maker in China.

The company launched its first production vehicle, the Li One, in October 2018, and began deliveries of the EREV model in December 2019. In the second half of 2022, the Li One was discontinued, and Li Auto focused its efforts on its L-series models.

Li L9, the first model of its L-series, was launched on June 21, 2022, and is currently offered in two versions, Pro and Max, with starting prices of RMB 429,800 and RMB 459,800, respectively.

The Li L9, the second model in its L series, was launched on September 30, 2022, and is currently available in Air, Pro, and Max variants with starting prices of RMB 339,800, RMB 359,800, and RMB 399,800, respectively.

On February 8, 2023, Li Auto launched the Li L7, the third model in its L-series and its first five-seat model. The Li L8 and Li L9 are only available in six-seat versions.

Li Auto delivered a record 50,353 vehicles in December and 376,030 vehicles in all of 2023, according to figures it announced on January 1.

The Li L7 delivered 134,089 units this year, the Li L8 117,990 and the Li L9 114,377, according to data compiled by CnEVPost.

Li Auto will challenge annual deliveries of 800,000 units and monthly deliveries of 100,000 units in 2024, Li Xiang, the company's founder, chairman, and CEO, hinted in a January 1 Weibo post.

($1 = RMB 7.1595)

Li Auto to challenge 100,000 monthly deliveries and 800,000 annual deliveries in 2024, CEO hints