Photo/Provided by Li Auto

On April 18th, Li Auto launched its new model, the Li L6. The new vehicle is positioned as a mid-to-large size extended-range SUV, available in two versions, Pro and Max, priced at RMB 249,800 and RMB 279,800 respectively.

It is learned that the Li L6 is built on Li Auto's second-generation extended-range platform. According to Li Auto, the vehicle took three years to develop, with an investment of over RMB 2 billion. The Li L6 will start small-scale deliveries next week, with about 2,000 units expected to be delivered this month, and mass deliveries will begin in May.

Different from previous extended-range products of Li Auto, the Li L6 is equipped with a lithium iron phosphate battery. “We have developed a new generation of high-energy-density lithium iron phosphate cells. Especially in conjunction with the optimization of the vehicle's energy consumption and air resistance, the Li L6 has achieved a total range of 1,390 kilometers and an all electric range of 212 kilometers,” said Tang Jing, Vice President of R&D at Li Auto.

Notably, the Li L6 is not only the lowest-priced model currently offered by Li Auto (priced below RMB 300,000) but also marks the company's first real entry into the highly competitive market.

Despite facing many challenges, for Li Auto, the Li L6 is a “battle that cannot be lost.” Tianfeng Securities believes that the Li L6 is the core model for Li Auto’s product price reduction and this year's volume growth.

However, it is worth noting that Li Auto has not lowered its expectations for the Li L6, internally believing that "a stable state is still over 20,000 units sold per month." "In the entire price range of RMB 200,000 to RMB 300,000, we hope to reach a market share of about 10% by the end of this year," Liu Jie, President of Li Auto's product line, also expressed his expectations for the Li L6 to reporters earlier.

Ping An Securities research report indicates that a series of adjustments by Li Auto highlight its agile error-correction capability, with the company well-prepared for future moves. The Li L6, positioned in the RMB 200,000 to RMB 300,000 price range, is expected to reach a monthly sales volume of 20,000 units, and the four L-series models have strong profitability, remaining the sales foundation for the company in 2024.