Over the next few years, Li Auto will invest more than RMB 6 billion in building supercharging stations, it said.
(Image credit: Li Auto)
Li Auto (NASDAQ: LI) will significantly ramp up its charging network this year and next as it officially enters the battery electric vehicle (BEV) space.
By 2025, Li Auto expects to have more than 5,000 supercharging stations online, covering 90 percent of main highway routes and 90 percent of core urban areas in Tier 4 and more developed cities, the company said today.
Over the next few years, Li Auto will invest more than RMB 6 billion ($835 million) to bring the number of stations with 5C charging piles to more than 5,000 as well, it said in a Weibo post.
The company did not mention a specific timeline for completing the 5,000 5C supercharging stations. It is currently building supercharging stations mainly with 2C superchargers.
The C refers to the charging multiplier, and 5C means an EV can theoretically be fully charged in one-fifth of an hour.
Li Auto launched its first BEV model, the Li Mega MPV (Multi-Purpose Vehicle), on March 1, claiming to be able to get a 500-kilometer range on a 12-minute charge.
Li Auto unveiled its all-electric solution at last year's Shanghai auto show and began building its own supercharging stations in the first half of last year, opening its first seven 4C supercharging stations on April 20 for trial operation.
To date, the company has put 349 supercharging stations into operation.
In 2024, Li Auto aims to have more than 2,000 supercharging stations, it said.
Li Auto's network of supercharging stations will cover nine major horizontal highways and nine major vertical highways in 2024, with stations with 5C supercharging piles covering more than 70 percent of the main highway routes, it said today.
In cities, Li Auto will build its own charging stations and will also work with partners to build the stations.
The company aims to have urban supercharging stations covering 50 percent of core city areas in Tier-3 and more developed cities this year, it said.
Li Auto's main sales models are three extended-range electric vehicles (EREVs) -- Li L7, Li L8 and Li L9.
Li Auto will launch the Li L6 EREV in the second quarter and three all-electric SUV models in the second half of the year, the company's management said in a February 26 analyst call following the announcement of fourth-quarter 2023 earnings.
The company will launch an all-electric SUV, the M6, internally codenamed W04, which is expected to start deliveries in March 2025, local automotive media Meiren Auto said yesterday, citing several people familiar with the matter.
The Li M6 will be an all-electric 5-seat SUV that will compete with models including the Tesla (NASDAQ: TSLA) Model Y, Aito M5, and Xpeng (NYSE: XPEV) G6, according to the report.
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Li Auto to launch all-electric SUV Li M6 to take on Tesla Model Y, report says
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