Li Auto to Launch Six Pure EVs, Founder Says

On March 22, Li Xiang, CEO of Chinese electrical automobile maker Li Auto, took to social media to level out that the place of the automobile’s lighting system in a circulated preview picture of the “W01” mannequin is wrong. He additionally offered a glimpse into Li Auto‘s future product plans, revealing that the corporate will launch six new pure electrical autos, together with a pure electrical MPV mannequin.

Li Auto has beforehand outlined its technique of researching extended-range and pure electrical fashions over the following decade. Li Xiang has acknowledged {that a} large-size SUV will not be environment friendly sufficient whether it is purely powered by electrical energy, and subsequently Li Auto plans to undertake completely different automobile physique shapes for various energy methods.

The historical past of Li Auto‘s resolution to develop pure electrical autos might be traced again to July 2021 when the corporate introduced that it was growing two pure electrical automobile platforms, specifically Whale (W Platform) and Shark (S Platform). Li Auto plans to introduce two high-voltage pure electrical autos to the market annually ranging from 2023.

In 2021, there have been a number of competing fashions in China, together with the BYD Han and the XPeng P7. The Tesla Model 3 had additionally been listed on the Chinese marketplace for over two years.

During the second quarter 2020 monetary report convention name, Li Xiang addressed why Li Auto didn’t prioritize the event of electrical autos. “The company will not launch pure electric models until the high-voltage fast charging technology matures,” he acknowledged. In the July 2021 announcement, Li Auto revealed that it was investing within the growth of high-voltage quick charging expertise.

Li Auto has made vital progress with this plan in 2023. At the start of March, a Li Auto 800V charging station was noticed in a service space of the Guangzhou-Shenzhen Expressway. Chehejia (Dongguan) Energy Service Co., Ltd., a wholly-owned subsidiary of Li Auto, is answerable for the development. According to Li Auto‘s plan, the company will spend an estimated ten billion yuan ($1.46 billion) to build 3,000 supercharging stations by 2025. “It’s rather more cost-effective than constructing a manufacturing unit,” commented Li Xiang on the price of constructing a supercharging station on social media.

In 2022, Li Auto efficiently delivered 133,200 autos, marking a 47.2% improve year-on-year. With the anticipated supply of the L7 mannequin this yr, Li Auto goals to promote between 280,000 to 300,000 autos in 2023, and it’s anticipated that the corporate will obtain its first annual revenue.

SEE ALSO: Li Auto Starts Construction of Super Charging Stations

As of the fourth quarter of 2022, Li Auto had a money reserve of 58.45 billion yuan ($8.54 billion). For comparability, NIO and XPeng had money reserves of 45.5 billion yuan ($6.65 billion) and 38.2 billion yuan ($5.58 billion), respectively. Li Auto‘s gross revenue margin for the previous yr was 19.4%, in contrast with NIO‘s 10.4% and XPeng‘s 11.5%.

At the corporate’s spring media communication assembly this yr, Li Xiang acknowledged that previously, extended-range fashions had helped the corporate to achieve appreciable revenue, which supported analysis efforts into pure electrical fashions. He added that future funding into analysis and growth, auto elements, and provide chains for pure electrical autos can be better.

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