Li Auto Inc. (LI) shares are soaring today, up 3.07% to trade at $24.98 at last check after it announced an early launch of its electric vehicle (EV). The number of shares traded was 4.87 million against an average of 10.89 million shares traded in the past three months.
When is LI Auto planning to launch?
Li Auto (LI) announced yesterday that a launch event will take place on Friday, September 30, 2022, ahead of schedule, to unveil Li L8, a large, six-seat smart SUV for families priced below RMB400,000. During the National Day holiday in China, Li L8 will arrive at retail stores nationwide and deliveries will begin in early November.
- Having received an overwhelming market response in anticipation of the Li L8, Li Auto has shifted the release date forward.
- In addition to providing potential users with a clearer roadmap for future models, Li Auto also wanted to facilitate their purchasing decisions.
- The company’s Li-series refers to SUVs based on Li Auto’s extended-range electric platform.
- The Li L9 is a full-size, six-seat smart SUV for families at a price below RMB500,000.
- Family budgets below RMB400,000 can afford the six-seat Li L8, a large smart SUV with six seats.
- Li L7, a five-seat, large flagship smart SUV aimed at families below RMB400,000, and Li L6, a five-seat, mid-size premium smart SUV aimed at families under RMB300,000.
- Deliveries of Li L7 are scheduled to begin in the first quarter of 2023.
- A livestream of the Li L8 event will be available on the Company’s website with English subtitles afterward from 3 a.m. US Eastern Time or 3 a.m. Beijing/Hong Kong Time on September 30, 2022.
LI’s previous launch plans?
It was recently announced that Li Auto delivered 4,571 vehicles in August 2022. By the end of August, the company had delivered 199,484. In addition, as of August 31, 2022, Li Auto operated 265 retail stores in 118 cities, 316 service centers, and 226 body and paint shops authorized by Li Auto.
It was announced at the time that Li Auto (LI) would commence deliveries of its flagship smart SUV, Li L9, and that initial user had expressed satisfaction with the vehicle. Li Auto also announced their plans to launch Li L8 early next month, with a delivery beginning that same month. However, with the current announcement, LI surprised car buyers and investors by launching the SUV so early.