Chinese EV start-up Li Auto launches L8 SUV aimed squarely at German rivals BMW, Audi and Mercedes-Benz
- The Beijing-based carmaker has started taking orders for the six-seater SUV, which is priced from 359,800 yuan (US$50,730) to 399,800 yuan
- The L8 will be displayed at Li Auto’s showrooms across the nation from Saturday, co-founder and CEO Li Xiang said
The Beijing-based carmaker on Friday began taking orders for the six-seater SUV, which is priced from 359,800 yuan (US$50,730) to 399,800 yuan, more than a month ahead of schedule. The first batch of L8s will be delivered to customers in November.
“A variety of new EV models have hit the mainland market as more consumers opt for electricity-powered vehicles while snubbing petrol-guzzlers,” said Gao Shen, an independent analyst in Shanghai. “The high-end EVs will appeal to thousands of young motorists and pose a threat to premium vehicles running on internal combustion engines (ICEs).”
The EV adoption rate in China is likely to top 30 per cent in the coming months, compared with 25 per cent in August, said Paul Gong, a UBS analyst. Total deliveries could surpass 6 million units this year, more than double last year’s total, he added.
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Chinese smart-battery swap stations can change EV batteries automatically
The Swiss bank predicted last year that three of every five vehicles sold in 2030 would be battery powered.