The new L9 has launched and is now being delivered. Q2 GPM is expected to recover to ~10%.

Li Auto's 'distressed turnaround' still hasn't arrived

R&D spend is expected to stay around RMB 12 bn this year. AI-related investment should still account for about half.

Li Auto has effectively entered a loss-making phase. The company appears to be on a loss trajectory.

AI glasses are regarded as the 'next-generation personal mobile gateway' and are also the most likely mobile terminal to challenge smartphones.

Plan to make Li Auto the best-performing company in the embodied intelligence field within the next 3 to 5 years

The internal and external challenges of the L series are more severe than imagined.

周五晚上，$Li Auto(LI.US) 发布了继 Mega 和 i8 之后的第三款纯电车型 i6，这也是一款承担销量重任的走量车型。相比于 Mega 的完全失利、i8 产品配置失误，i6 在产品配置和定价策略上，已经算是非常 “长记性” 了。1）单一爆品策略：i6 不分 Pro，Max 版。高级版本的功能被做成了选配；比如四驱在 i6 是选配功能、彩电是选配、冰箱是选配。但电池上...

The i8 has been delivered as scheduled, and the i6 will be launched as planned by the end of September.

$Li Auto(LI.US) released its Q2 2024 financial report after the Hong Kong stock market closed and before the U.S. stock market opened on the evening of August 28, Beijing time. Li Auto's Q2 performanc...