Smart and Sustainable Electric Mobility
The Li L7 contributed 39.22 percent of Li Auto deliveries in July, while the Li L8 contributed 33.15 percent.
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As of July 19, a total of 8,208 units of the Li L7 have been delivered this month, Li Auto said.
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Li L8 sold 9,618 units and Li L9 at 8,451 units in June, contributing 29.53 percent and 25.94 percent respectively.
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In the first half of 2023, the cumulative delivery of Li Auto reached 139,113 vehicles, a yearly increase of 130%. Li Auto's sales in the first half of 2023 has already exceeded the sales for the whole year of 2022.
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The Li L7 is a model that was nearly canceled during development, according to Li Auto CEO Li Xiang.
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The Li L7 -- a new model that almost got canceled -- saw its highest single-day sales ever on Saturday, according to Li Xiang, founder, chairman and CEO of Li Auto (NASDAQ: LI).
"Yesterday was our first tech day, and today is also a historic moment -- the first time that the Li L7 has sold more than 1,000 units on a single day with no new model launch," Li wrote on Weibo late at night on June 18.
Li Auto held its first Family Tech Day event on June 17, announcing the official name of its first BEV, Li MEGA, and the company's progress in developing assisted driving and supercharging capabilities.
"For a model with a starting price of RMB 300,000 ($42,100) or more and in a steady state of sales, selling more than 1,000 in a single day should be a moment to remember," Li said.
Li Auto launched the Li L7, its first five-seat SUV, on February 8 and currently offers three versions with starting prices of RMB 319,800, RMB 339,800 and RMB 379,800, respectively.
All of the company's current models are extended-range electric vehicles (EREVs), with the other two being the higher-priced, six-seat Li L8 and Li L9.
The Li L7 was almost canceled during development, according to Li, who said he was quite determined to axe the model last September, but several other executives stopped him.
Li mentioned in another Weibo yesterday that most members of Li Auto's management team thought the company should set an annual sales target of 360,000 units at the beginning of the year, but he ultimately decided to set a budget target based on annual sales of 306,000 units.
"This was partly because I didn't think we could be too optimistic about the economic environment this year, and partly because we didn't meet our budget targets for all three years from 2020-2022," he said.
Li said the too-low targets he set caused the company to place orders at suppliers at the beginning of the year that were clearly not keeping up with current sales, so several key components would take more than a quarter to reach the right capacity if production ramp-up began now.
Currently, Li Auto's plant in Changzhou, Jiangsu province has two production lines, one for double-shift production and one for single-shift production, according to Li.
The current peak capacity of the plant is 7,500 units/week, of which six days are production time and one day is used for maintenance, Li said.
Li Auto's goals set at the beginning of the year were too conservative, and suppliers of key components are currently adding equipment in line with the company's demand of more than 10,000 units/week, according to Li.
Li said Li Auto won't be able to achieve 10,000 units/week capacity until the fourth quarter when both of its lines will be based on double-shift production.
Li Auto delivered a record 28,277 vehicles in May, up 145.97 percent year-on-year and 10.11 percent from April, the third consecutive month to exceed the 20,000-unit mark, according to data released June 1.
The Li L7 achieved its second consecutive month of over 10,000 deliveries in May, Li Auto said at the time, without disclosing specific figures.
Li Auto aims for the Li L7, Li L8 and Li L9 models to see combined monthly sales of more than 40,000 units this year, Li said on June 1.
($1 = RMB 7.1266)
Li Auto Family Tech Day: 1st BEV named Li MEGA, aims to be top seller above $70,000 in China
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Li Auto has an internal goal of 25,000-30,000 monthly deliveries and will aim to meet the goal in the second quarter, its management said last month.
Li Auto US | Li Auto HK
(Image credit: Li Auto)
Li Auto (NASDAQ: LI) began deliveries of its new SUV, the Li L7, on March 11, a month after the model was launched.
Starting today, deliveries of the Li L7 will begin in China to meet the needs of a wider segment of family customers, the company said.
With the start of deliveries of the Li L7, Li Auto further solidifies its market position in the RMB 300,000 ($43,440) - 400,000 price range as the luxury SUV brand of choice for families, it said.
Li Auto officially made the Li L7, its first five-seat SUV, available on February 8. Its other two models currently on sale, the Li L9 and Li L8, are both six-seat models.
The Li L7 is available in Air, Pro and Max versions, with starting prices of RMB 319,800, 339,800 and 379,800 respectively.
Li Auto said at the launch of the Li L7 that deliveries of the Li L7 Pro and the Li L7 Max are expected to begin on March 1, and deliveries of the Li L7Air will begin in early April.
Today's latest development means that the start of Li L7 deliveries is 10 days later than the company had planned.
Deliveries of the Li L7 Pro and Li L7 Max were the first to begin today, with deliveries of the Li L7 Air scheduled to begin in early April, Li Auto said today.
All of Li Auto's current models are extended-range electric vehicles (EREVs), essentially PHEVs, which are considered to have no range anxiety and therefore have a larger total addressable market.
Li Auto delivered 16,620 vehicles in February, up 9.77 percent from 15,141 in January and up 97.53 percent from 8,414 in the same month last year, according to data it released on March 1.
Li Auto guided for first-quarter deliveries of 52,000 to 55,000 vehicles when it reported fourth-quarter earnings on February 27.
The company's delivery figures for February mean it is on track to deliver 20,239 to 23,239 vehicles in March.
Li Auto management said in an analyst call after announcing its fourth-quarter earnings that the company has an internal target of 25,000 to 30,000 monthly deliveries and will aim to achieve that target in the second quarter.
April will be the first full delivery month for the Li L7 Pro and Li L7 Max, and May will be the first full delivery month for the Air product line, its management stressed at the time.
When Li Auto launched the Li L7 on February 8, it also introduced a cheaper Air version for the Li L8.
The current starting prices for the Li L8 Air, Li L8 Pro and Li L8 Max are RMB 339,800, 359,800 and 399,800 respectively.
The Li L9 is still only available in the Max version, with a starting price of RMB 459,800.
(1 $ = RMB 6.9063)
Li Auto to build charging stations at 'NIO pace', report says
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Li Auto brought a lower-priced Air version to its product matrix for the first time, with the Li L7 Air and Li L8 Air powered by batteries from Svolt Energy and Sunwoda, respectively.
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The new Air variants of the Li L7 and Li L8 are expected to eliminate the air suspension and electric suction doors, thus lowering the prices by more than RMB 20,000, local media said.
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The Li L7 is a five-seat version of the Li L8 and will be offered in two variants with starting prices of RMB 339,800 and 379,800 respectively.
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The Li L7 is a five-seat version of the Li L8 and will be offered in two variants with starting prices of RMB 339,800 and 379,800 respectively.
The post Li Auto to launch new SUV Li L7 on Feb 8 appeared first on CnEVPost.
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