- In the Philippines, Li Auto is currently previewing two SUV models, the Li L7 and Li L9.
- The Philippines is Li Auto's first market in Southeast Asia.
Li Auto (NASDAQ: LI), one of China's major extended-range electric vehicle (EREV) makers, has reportedly entered the Philippine market, its first stop in Southeast Asia.
Several Philippine media outlets, including The Manila Times, reported the move, saying that Li Auto made its debut there through official distributor HomeAuto Inc.
In the Philippines, Li Auto is currently previewing two models: the five-seat mid-size SUV (sport utility vehicle) Li L7, and the six-seat full-size flagship SUV Li L9, according to a report in The Manila Times yesterday.
The brand has also teased the possible arrival of a third and larger model -- the Li Mega, perhaps -- once its showroom opens in Bonifacio Global City, according to the report.
Li Auto has not made an announcement about its entry into the Philippines, and its social media accounts have yet to mention the move.
"We are thrilled to introduce Li Auto's innovative smart electric vehicles to the Philippines," The Manila Times quoted HomeAuto Inc CEO Stone Yu as saying.
"The local market presents a significant opportunity for us with its increasing awareness of electric vehicles and growing interest in modern technology, " Yu said.
Li Auto's brand name in the Southeast Asian country is Li Auto Philippines, according to an April 4 story by Autocar Philippines.
Local customers can visit the Li L7 and Li L9 at a special showcase at the SM Mall of Asia from April 4 to April 10, according to Autocar Philippines.
Meanwhile, Li Auto Philippines' flagship showroom is about to open in Bonifacio Global City, according to the report.
Li Auto's current vehicles on sale in China include EREV models Li L9, Li L8, Li L7, Li L6, and the all-electric Li Mega MPV (multi-purpose vehicle).
The company delivered 36,674 vehicles in March, up 26.53 percent year-on-year, and up 39.64 percent from February.
For the full year 2024, Li Auto delivered 500,508 vehicles, up 33.10 percent year-on-year.
Li Auto's sales target for 2025 is 700,000 vehicles, which represents about 40 percent growth, according to a March 31 report by local media outlet 21jingji.
Li Auto has not officially announced selling cars in any overseas markets, but its management has mentioned that the company would step up its efforts to expand overseas this year.
Li Auto has established direct service centers in Kazakhstan, Dubai, and Uzbekistan, its management said in a March 14 earnings call.
In 2025, the company would step up its overseas expansion efforts to explore markets with high growth potential, believing that more Li Auto vehicles will be traveling in different countries in the future, it said.
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