Li Auto, a Chinese automaker, has recently launched its sales operations in the Philippines in response to the growing demand for battery electric vehicles (BEVs) in the country. Partnering with local marketing distributor HomeAuto Inc, the company has established Li Auto Philippines Inc to cater to the increasing interest in eco-friendly vehicles.
The move by Li Auto comes as the Philippine government implemented the EO12 zero-tariff program in 2023, initially focusing on BEVs and later expanding to include hybrid vehicles. With BEV sales projected to reach 20,000 units this year, the market is ripe for expansion, attracting Chinese manufacturers like Li Auto to enter the scene.
To make a splash in the Philippine market, Li Auto introduced two upscale battery-powered SUVs, the L7 and Li L9 range-extended electric vehicles (REEVs). These models target the luxury segment currently dominated by brands like Lexus, BMW, and Mercedes-Benz, offering Filipino consumers a blend of luxury and cutting-edge technology.
During the launch event, Stone Yu, CEO of Li Auto Philippines, expressed optimism about the company’s prospects in the Philippines. He highlighted the alignment between Filipino values, particularly strong family ties, and Li Auto’s vision for luxury and technology. Yu emphasized that the local market’s increasing awareness of electric vehicles and interest in modern technology create a significant opportunity for Li Auto to thrive.
As Li Auto joins the ranks of Chinese automakers making their mark in the Philippines, the competition in the BEV market is expected to intensify. With a focus on luxury, technology, and eco-friendliness, Li Auto aims to carve out a niche for itself and cater to the evolving preferences of Filipino consumers.
