Citigroup expects Li Auto i8 model monthly sales of about 6,000 units, with the i6 launching in September priced at a minimum of 250,000 yuan

Citigroup's report indicates that Li Auto (02015.HK) has priced its i8 battery electric vehicle at RMB 321,800 to RMB 369,800, slightly higher than expected. The bank stated that regardless of initial orders and results, it expects monthly sales of the i8 model to be around 6,000 units after sales mature. The i8 Max version, equipped with the VLA model and NVIDIA Thor-U chip, is expected to offer the best cost-performance ratio. The company is also providing an additional discount of RMB 10,000 for existing owners.

The bank also noted that based on the i8's pricing being slightly higher than expected, it anticipates the average selling price of the i6 entry-level model, set to launch in September, to be around RMB 250,000 to RMB 260,000. This model is expected to be limited to two-wheel drive, with anticipated monthly sales of about 10,000 units once demand matures. The bank also expects that after the i6's sales fully ramp up, the L6 model's monthly sales will maintain between 12,000 to 13,000 units, as the L6 model may target first-time car buyers in second-tier cities, avoiding overlap with i6 users.

The bank currently gives Li Auto (LI.US) a "Neutral" investment rating, with a target price of $33.90