Li Auto begins deliveries of Li L6, addresses key concerns

Li Auto said it won't launch a lower-priced Air variant for the Li L6, and the model won't be getting a price cut, even though other models have seen significant price reductions recently. (Image credit: Li Auto) Li Auto (NASDAQ: LI) has begun deliveries of the Li L6, its cheapest model with high hopes. Li L6 deliveries began on April 24, with the first owners picking up their vehicles at delivery centers in 68 cities, the company announced today. Launched on April 18, the Li L6, a luxury mid-size SUV for young families, crossed 10,000 orders in 72 hours of launch, Li Auto said, repeating earlier information. Li Auto is offering the Li L6 in Pro and Max trims, with starting prices of RMB 249,800 ($34,500) and RMB 279,800, respectively. The company began accepting orders for the Li L6 at the end of the launch event, and customers can pay RMB 5,000 to order the model, with the deposit refundable at any time within seven days. The Li L6 is Li Auto's latest extended-range electric vehicle (EREV) model, becoming its least expensive. Slightly more expensive than the Li L6 is the 2024 Li L7, which previously had a starting price of RMB 319,800. Li Auto lowered the prices of all models except the Li L6 on April 22, lowering the starting price of the Li L7 to RMB 301,800. Li Auto has high hopes for the Li L6, as the lower-priced model has more room in the market. The company has released two Q&As for the Li L6 in order to respond to questions that potential customers may have. Li Auto has no plans for a variant with lower specs than the Li L6 Pro, the company said in response to a question about whether there will be a Li L6 Air in the future. In ascending order of price, Li Auto's current model range includes Air, Pro, Max, and Ultra variants. The Li L6's launch has sparked some speculation that the company may introduce a lower-priced Li L6 Air in the future. Li Auto also said that there will be no price cuts for the Li L6, despite recent price cuts for other models. The Li L6 Pro was originally priced at RMB 259,800, but was finally priced at RMB 249,800 at launch to lower the acquisition cost for family customers, Li Auto said. The Li L6 Pro Max offers configuration upgrades totaling over RMB 40,000 compared to the Pro version, but was ultimately priced at just RMB 279,800, Li Auto said, adding that the company is also offering more than RMB 20,000 worth of initial customer benefits for the Li L6. ($1 = RMB 7.2460) Li L6 to be Li Auto sales growth driver, but will face stiff competition, says Deutsche Bank