Li Auto has restructured the naming of its L-series models and will launch new versions of the Li L7 and Li L8 in May, both with RMB 18,000 lower prices.
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Li Auto (NASDAQ: LI) will introduce new, lower-priced versions of two of its L-series extended-range electric vehicle (EREV) models in May, and began to offer more car-buying benefits for 2024 models this month.
The company launched the 2024 Li L7, Li L8, and Li L9 on March 1, each continuing to be offered with the same name as the 2023 models, but all with air suspension.
The previous 2023 Li L7 Air and Li L8 Air models did not have air suspensions, but rather CDC suspensions. The Li L9 does not have an Air version, and the previous Pro and Max versions come standard with air suspensions.
Li Auto announced today that the names of all three models currently equipped with air suspension as standard have been adjusted, with the previous Air, Pro, and Max adjusted to Pro, Max, and Ultra, respectively.
The only trim of the Li Mega, Max, which officially launched on March 1, has also been changed to Ultra.
At the same time, Li Auto announced that it will introduce new versions of the 2024 Li L7 and Li L8 without air suspension, with their suspension systems using coil springs and CDC dampers.
The new versions of the Li L7 and Li L8 will continue to use the Air name like 2023 models, and they will be available and begin deliveries in May, Li Auto said.
The 2024 Li L7 Air has a starting price of RMB 301,800 ($42,070), RMB 18,000 lower than the RMB 319,800 of the previous entry-level version.
The other three versions of the Li L7 are priced unchanged, starting at RMB 319,800, RMB 349,800 and RMB 379,800 respectively.
The 2024 Li L8 Air starts at RMB 321,800, which is also RMB 18,000 lower than the RMB 339,800 of the previous entry-level version.
The remaining three versions of the Li L8 start at RMB 339,800, RMB 369,800 and RMB 399,800 respectively.
Until delivery of the new Air models begins, the 2023 L7 Air and L8 Air with CDC suspension will continue to be sold at a starting price of RMB 301,800 and RMB 321,800, down from RMB 319,800 and RMB 339,800, respectively.
In addition, Li Auto is offering an extra benefit to customers who order a 2024 L-series model before March 31, by offering them a RMB 5,000 deposit that can be applied against the RMB 10,000 purchase price.
Li Auto's RMB 5,000 option fund benefit offered at the launch of the 2024 models will remain in place.
For customers who have already taken delivery of a 2024 L-series model, Li Auto will offer a credit worth RMB 8,000.
($1 = RMB 7.1732)
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