Li Auto Inc [2015:HK], a prominent Chinese electric vehicle manufacturer, has revealed plans to launch its inaugural fully electric car, the MEGA multi-purpose vehicle (MPV), in March 2024, with deliveries set to commence at an estimated price below RMB600,000, as reported by Reuters on December 31. This marks a significant move for Li Auto, as the MEGA MPV is the first model to be produced at the company’s recently established Beijing plant, boasting an annual production capacity of 100,000 units. Despite facing delays in the release schedule and stiff competition from Xpeng’s X9, which has garnered over 30,000 pre-orders, Li Auto maintains a solid standing in China’s electric vehicle market, ranking seventh in sales volume among electric and hybrid car manufacturers during the first 10 months of 2023.

The MEGA MPV, positioned as a “family technology flagship MPV” and a “high-speed rail for the whole family,” initiated pre-sales in November at the Guangzhou Auto Show, offering free upgrades for early pre-orders. However, the vehicle’s launch has been marred by delays attributed to additional adjustments to the second-row seats. While Li Auto has not disclosed plans to sell its vehicles overseas, recent safety concerns following fatalities involving Li Auto models cast a shadow over the company’s progress in the competitive electric vehicle landscape.

Sources:

https://www.reuters.com/business/autos-transportation/chinas-li-auto-expects-launch-first-fully-electric-ev-march-2023-12-31/

https://bnnbreaking.com/world/china/li-auto-inc-to-launch-its-first-fully-electric-car-amid-challenges/