Li Auto said it aims to reach 2,000 supercharging stations by the end of 2024.
(Image credit: Li Auto)
Li Auto (NASDAQ: LI) has revealed an aggressive supercharging station construction plan for this year, albeit lower than the number mentioned in a media report earlier this month.
"Supercharging station network layout of 2,000 planned for 2024, stay tuned," Li Auto said in a Weibo interaction with a user today.
Li Auto's wording in Chinese was vague, and it was not clear whether it was referring to adding 2,000 new supercharging stations this year, or reaching 2,000 by the end of the year.
However, the company's management said in an analyst call following the announcement of its fourth-quarter earnings that the goal is to have a total of 2,000 supercharging stations by the end of the year.
As of February 20, Li Auto had 343 supercharging stations in China, located in 114 cities.
The company said on April 18, 2023, the first day of the Shanghai auto show, that it aimed to have 3,000 charging stations by 2025, covering 90 percent of China's highway mileage and major cities.
On February 18, local automotive media Yiche cited Li Auto's supercharging station partnership program plan as saying the company aims to have more than 10,000 supercharging stations by 2025, with a 20 percent market share.
The company aims to have more than 4,000 supercharging stations by 2024, covering 90 percent of China's first-, second- and third-tier cities, with a market share of 11 percent, according to the report.
Li Auto's three models currently on sale are the Li L7, Li L8 and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.
The company will launch the Li Mega MPV (Multi-Purpose Vehicle) on March 1, which will be its first effort in the battery electric vehicle (BEV) market.
The Li Mega will be powered by Qilin Battery supplied by Chinese power battery giant CATL. The battery pack was released on June 23, 2022 and CATL claimed it's the world's most highly integrated battery pack.
The Qilin Battery that supports 5C fast charging has a life span that is still more than 50 percent higher than that of a regular 2C battery pack when using only 5C fast charging, Li Auto founder, chairman, and CEO Li Xiang said in a Weibo post today, adding that owners can use it with complete confidence.
C refers to the battery's charge multiplier, and 5C means that the pack can theoretically be fully charged in one-fifth of an hour.
If a 5C charging station is idle, then a model with a 5C battery pack can get 500 kilometers of range on an 11-minute charge, Li said, adding that the vehicle can also get 500 kilometers of range on a 15-minute charge if all the other charging piles are being used.
All four of Li Auto's BEVs this year will come standard with 5C supercharging battery packs, he said.
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