- Li Auto will launch its first pure electric SUV model, the Li i8, in July, and will roll out another electric SUV, the Li i6, in September.
- It will only consider launching sedan models after its annual revenue doubles compared to 2024.
Li Auto (NASDAQ: LI) provided more visibility into its product roadmap during its earnings call last night and hinted at when it will launch its first sedan model.
The company will officially launch its first all-electric SUV (sport utility vehicle) model, the Li i8, in July, and will roll out another electric SUV, the Li i6, in September, Li Auto management said during the call.
The Li i8 will be a six-seat large SUV, while the Li i6 will be a five-seat SUV.
Li Auto’s current lineup includes the Li L6, Li L7, Li L8, and Li L9, all of which are extended-range electric vehicles (EREVs) and SUVs, as well as the Li Mega pure electric MPV (multi-purpose vehicle).
Li Auto began its first teaser campaign for the Li i8 in late February, and the electric SUV was listed in a Chinese regulatory catalog last month, revealing some of its core specifications.
No further information is currently available about the Li i6.
Li Auto’s VLA (Visual-Language-Action) driver model will be launched alongside the Li i8 and will subsequently be available for vehicles equipped with the AD Max smart driving system, the company’s management said yesterday.
A research note by Deutsche Bank analyst Wang Bin’s team today projected monthly sales of 5,000 units for the Li i8 and 12,000 units for the Li i6.
Li Auto mentioned plans for sedans during yesterday’s conference call, suggesting this is not a high priority at present.
The company will only launch sedan products based on market demand once its annual revenue reaches RMB 300 billion ($41.7 billion) and its product portfolio reaches a certain scale, Li Auto founder, chairman, and CEO Li Xiang said during yesterday’s conference call.
Li Auto’s current models only cover the SUV and MPV markets. The company’s revenue in 2024 was RMB 144.5 billion.
In China, SUVs are the most popular, followed by sedans, while MPVs are a niche market.
In 2024, SUVs accounted for 49 percent of China’s passenger vehicle retail sales, sedans for 46 percent, and MPVs for 5 percent, according to data compiled by CnEVPost.
Li Auto’s target for sales growth in 2025 is to double the growth of China’s new energy vehicle (NEV) market priced above RMB 200,000, but it did not specify a concrete target figure.
This year, the NEV market in China priced above RMB 200,000 has a capacity of about 3.8 million units, with plug-in hybrid electric vehicles (PHEVs) accounting for 1.69 million and battery electric vehicles (BEVs) for 2.13 million, according to Li Auto management.
The company is expanding its sales network coverage in less developed Chinese cities, aiming to see over 100,000 incremental sales from fourth- and fifth-tier cities by 2026.
Deutsche Bank estimates in its research note that Li Auto’s annual sales volume will grow by 26 percent year-on-year in 2025, reaching 630,000 units.
Earlier this month, local media reported that Li Auto had revised its 2025 sales target down to 640,000 units from the previous 700,000 units.
The company also mentioned its overseas market strategy yesterday, stating that the ultimate goal is for overseas sales to contribute 30 percent of total sales.
In the coming years, Li Auto will focus on the Asian and European markets, recruiting established dealers in these regions, according to its management.
($1 = RMB 7.1859)
The Li i8 measures 5,085 mm in length and will come standard with lithium ternary batteries that supports 5C charging.
