The Li L6, based on Li Auto's second-generation extended-range platform, is a premium mid-to-large-size five-seat SUV aimed at young families, it said.
(Photo of Li L6 from a regulatory filing.)
Li Auto (NASDAQ: LI) is about to roll out its lower-priced new model in an attempt to maintain the strong sales performance it has seen over the past year.
The Li L6, a luxury mid-to-large-size five-seat SUV designed for young families, will "soon be launched", Li Auto said today on Weibo.
The company revealed the plan in a statement about clarifying the suspension structure that will be used in the Li L6.
Recent rumors suggested that the Li L6 would have a MacPherson suspension structure, which Li Auto denied, saying that the model has a front double wishbone coupled with a five-link rear suspension structure commonly used in premium mid-to-large-size SUVs.
(Chassis structure of the Li L6. Image credit: Li Auto)
The Li L6 has a minimum ground clearance of 180 mm, which is 4 mm higher than the air-suspension-equipped 2024 Li L7, Li L8, and Li L9, Li Auto said.
The model is based on Li Auto's second-generation extended-range electric vehicle (EREV) platform, which took three years to develop and involved an investment of more than 2 billion yuan ($276 million), it said.
The company also built a new production line for the Li L6, which is located in the discontinued Li One's Changzhou production base, which is also producing the Li L7, Li L8, and Li L9, it said.
(Li Auto's Changzhou production base.)
Li Auto's current models on sale include the L-series Li L7, Li L8, and Li L9, all of which are EREVs. It launched the Li Mega MPV (Multi-Purpose Vehicle) on March 1, its first battery electric vehicle (BEV) model.
The Li L6 will be the least expensive of Li Auto. The current lowest priced Li Auto model is the Li L7, starting at RMB 301,800 for the 2023 Air version and RMB 319,800 for the 2024 Pro version.
On September 22, 2022, Li Auto said it would launch the Li L6, a mid-size five-seat SUV priced within RMB 300,000, its first mention of the model.
Li Auto will launch the Li L6 in the second quarter, and in the second half of the year it will release three all-electric SUV models with standard 5C charging as well as a four-wheel-drive powertrain, the company's management said in a February 26 earnings call.
Looking ahead to the next five years, no model in Li Auto's lineup will be priced below 200,000 yuan, its management said.
The Li L6 appeared in a regulatory filing catalog on January 15, showing the model measuring 4,925 mm in length, 1,960 mm in width and 1,735 mm in height, with a wheelbase of 2,920 mm.
For comparison, the Li L7 has a length of 5,050 mm, a width of 1,995 mm, a height of 1,750 mm and a wheelbase of 3,005 mm.
Li Auto was originally targeting sales of 800,000 vehicles in 2024, but with the Li Mega falling short of expectations in its initial launch, the target will be difficult to meet.
Li Auto now expects to sell between 560,000 and 640,000 units for the full year of 2024, down from the previous figure of 650,000 to 800,000, local media outlet Xchuxing said in a March 21 report citing a minute from one of the company's meetings.
The company delivered 28,984 vehicles in March, up 43.12 percent from 20,251 in February and up 39.19 percent from 20,823 a year ago.
The deliveries were still lower than January's 31,165 vehicles. February 10-17 was this year's Chinese New Year holiday, which caused significant disruption to carmakers' deliveries.
($1 = RMB 7.2338)
Li Auto reportedly lowers 2024 sales target to 560,000-640,000 cars
