Li Auto will begin small-volume deliveries of the Li L6 next week and expects to deliver about 2,000 units this month, with large-scale deliveries beginning in May.
(Image credit: Li Auto)
Li Auto (NASDAQ: LI) has rolled out its new extended-range electric vehicle (EREV) model, the Li L6, with lower prices that are expected to reach a wider customer base.
The company officially launched the Li L6 at an event today, offering it in both Pro and Max trims with starting prices of RMB 249,800 ($34,500) and RMB 279,800, respectively.
The Li L6 becomes Li Auto's least expensive model, and its previous cheapest model was the Li L7 with a starting price of RMB 319,800.
Li Auto began accepting orders for the Li L6 at the end of today's event, and customers can pay RMB 5,000 to order the model, a deposit that is refundable at any time within seven days.
Customers who order the Li L6 between April 18 and May 5 will receive limited-time benefits totaling RMB 20,000, including a RMB 5,000 discount, an option fund valued at RMB 10,000, and RMB 5,000 worth of 7-kW AC charging pile and installation services.
Li Auto will begin small-volume deliveries of the Li L6 next week and large-volume deliveries in May, the company said, adding that it expects to deliver about 2,000 units of the model this month.
Li Auto is China's best-known EREV maker, and the Li L6 is the newest addition to its L-series of EREV models, following the Li L7, Li L8 and Li L9.
On March 1, the company launched the Li Mega MPV (multi-purpose vehicle), its first battery electric vehicle (BEV) model. With a starting price of RMB 559,800, the MPV is the most expensive Li Auto currently sells.
The Li L6 measures 4,925 mm in length, 1,960 mm in width and 1,735 mm in height, and has a wheelbase of 2,920 mm, making it the first Li Auto model to be under 5,000 mm in length.
The Li L7, which is closest in size to the Li L6, measures 5,050 mm in length, 1,995 mm in width and 1,750 mm in height, and has a wheelbase of 3,005 mm.
The Li L6 comes standard with a lithium iron phosphate battery pack with a capacity of 36.8 kWh and a battery range of 212 kilometers in CLTC and 182 kilometers in WLTC.
It has a fuel tank with a capacity of 60 L and has a range of up to 1,390 kilometers in CLTC and 1,160 kilometers in WLTC when fully fueled and charged.
The model supports fast charging, which can increase the charge from 20 percent to 80 percent in 20 minutes.
The Li L6 is powered by a dual-motor, four-drive system with 130 kW and 220 Nm of torque from the front motor and 170 kW and 309 Nm from the rear motor.
Its dual motors have a total power of 300 kW and a total torque of 529 Nm, allowing the vehicle to sprint from 0 to 100 kilometers per hour in 5.4 seconds.
The model's range-extender is a 1.5T four-cylinder engine -- which is not involved in driving the vehicle, but generates electricity by burning gasoline in order to recharge the battery.
The Li L6's cockpit is powered by a Qualcomm Snapdragon 8295P chip, which has been standard on mainstream high-end EV models since last year.
The Li L6 comes standard with free assisted driving systems, but have different capabilities depending on the configuration.
The less expensive Li L6 Pro comes with Li Auto's AD Pro intelligent driving system, which is powered by a Journey 5 chip from local chipmaker Horizon Robotics with 128 Tops of computing power.
AD Pro's pilot assist driving capability is available only on highways, not city roads.
The higher-priced Li L6 Max is powered by 2 Nvidia Orin X chips with a combined computing power of 508 Tops, supporting pilot-assisted driving on highways and in urban areas.
Li Auto was originally aiming to sell 800,000 vehicles in 2024, but with the Li Mega underperforming expectations, that goal will be difficult to meet.
The launch of the lower-priced Li L6 may inject some momentum into the company's recently depressed morale.
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 units, local media outlet Xchuxing said in a report on March 21, citing minutes 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 in the same period last year.
During the first quarter, Li Auto delivered 80,400 vehicles, exceeding the upper end of its lowered guidance range of 76,000 to 78,000 vehicles. This was up 52.9 percent year-on-year, but down 39 percent from the fourth quarter of last year.
($1 = RMB 7.2382)
Li Auto reportedly lowers 2024 sales target to 560,000-640,000 cars
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