Chinese electric vehicle maker, Li Auto, continues to make significant strides in its bid to secure a major portion of the Chinese EV market. In recent months, the company has launched and unveiled new models, further improved its sales and funding position, and is building new R&D and manufacturing bases, as well as secured key safety and sustainability ratings.
Following on from its original Li ONE vehicle, Li Auto began the first deliveries of its second model, the Li L9 full size extended-range electric SUV in August. Quickly followed by its Li ONE successor, the L8, a six-seat mid to large-size SUV, in November. Showing no signs of easing momentum, deliveries for the company’s next mid to large-size five-seat L7 SUV have just begun in February.
While the full impacts of the new models are yet to be seen, Li Auto’s sales have continued to grow in 2022 with total deliveries for the first nine months of the year blitzing 2021, after surging more than 57% to almost 87,000 units. The strong sales have been backed up by a $365 million capital raise which has been key in supporting continued investment to maintain the company’s vision of long-term sustainable success.
As it attempts to carve out a distinct premium market against the Chinese EV landscape, which is saturated by comparatively cheap low-speed electric vehicles, Li Auto is bolstering its credentials with standout luxury features and safety ratings.
The company is also building a semiconductor R&D and manufacturing base in the high-tech zone of Suzhou, which will focus on the in-house research and development efforts that will be directed comprehensively across products, platforms, and systems, with the long-term goal of growing into a world-class technology company.