Li Auto plans to launch its second production model to lure wealthy mainland drivers from Audi and BMW
- The Chinese electric vehicle (EV) start-up plans to launch the vehicle in 2Q 2022 before delivering it to Chinese customers the next quarter
- Li Auto, listed in both New York and Hong Kong, currently has only one production model, the Li One, available on the mainland market
Global brands that have built up a following with China’s wealthy drivers will face a new battery-powered rival next year, as Li Auto launches a full-size sport-utility vehicle in the luxury segment of the world’s largest automotive market.
The Chinese electric vehicle (EV) start-up plans to launch the vehicle – which it hopes can break up the dominance of Audi’s Q7 and BMW’s X5 – in the second quarter of 2022 before delivering it to customers the next quarter, said Shen Yanan, co-founder and president of Li Auto. The model’s official name has yet to be announced.
Shen said on an earnings call on Monday evening that the carmaker would focus on the quality of its vehicle models to pursue a higher sales volume, rather than ramping up new model development. “We will keep to our own schedule,” said Shen. “We hope to achieve our goal of selling a big volume of vehicles with each model.”
Li Auto’s new luxury car – its second production model – will take on established internal combustion engine (ICE) carmakers in the luxury segment where BMW, Mercedes-Benz, Audi and Volvo have the lion’s share of the market.
Shen would not provide further details of the new SUV, but it will be 5.15 metres in length, 1.98 metres wide and 1.8 metres high, according to a report by Shanghai-based electric vehicle news portal CnEVPost.