Li Auto is gearing up to launch its first pure electric SUV, the Li i8, in July, followed by another electric SUV, the Li i6, in September. The company made these announcements during its recent earnings call, shedding light on its product roadmap and future plans.
The Li i8 will be a six-seat large SUV, while the Li i6 will be a five-seat SUV. These additions will complement Li Auto’s current lineup, which includes the Li L6, Li L7, Li L8, and Li L9, all extended-range electric vehicles (EREVs) and SUVs, as well as the Li Mega pure electric MPV.
The company initiated a teaser campaign for the Li i8 in late February, and the electric SUV was recently listed in a Chinese regulatory catalog, revealing some of its core specifications. However, details about the Li i6 are still scarce at this point.
Li Auto also introduced its VLA (Visual-Language-Action) driver model, which will debut alongside the Li i8 and be available for vehicles equipped with the AD Max smart driving system. Analysts at Deutsche Bank project monthly sales of 5,000 units for the Li i8 and 12,000 units for the Li i6.
During the earnings call, Li Auto hinted at future sedan models but stated that these would only be considered once the company’s annual revenue doubles compared to 2024. Li Auto’s revenue in 2024 was RMB 144.5 billion, and the company aims to reach RMB 300 billion ($41.7 billion) before venturing into the sedan market.
SUVs are currently the most popular vehicle type in China, followed by sedans, with MPVs occupying a niche market. Li Auto’s focus on SUVs aligns with market trends, as SUVs accounted for 49 percent of China’s passenger vehicle retail sales in 2024, compared to 46 percent for sedans and 5 percent for MPVs.
Looking ahead, Li Auto aims to double the growth of China’s new energy vehicle (NEV) market priced above RMB 200,000. The company plans to expand its sales network coverage in less developed Chinese cities, targeting over 100,000 incremental sales from fourth- and fifth-tier cities by 2026.
Furthermore, Li Auto is eyeing overseas markets, with a goal for overseas sales to contribute 30 percent of total sales. The company will focus on the Asian and European markets in the coming years, with plans to recruit established dealers in these regions.
In conclusion, Li Auto’s upcoming electric SUVs and strategic plans highlight the company’s commitment to innovation and growth in the rapidly evolving electric vehicle market. Stay tuned for more updates as Li Auto continues to drive forward with its ambitious goals.
