Li Auto accelerates Li i8 unveiling, prompted by earlier announcement on Xiaomi's Twitter profile, as per CEO's statement.
In the rapidly evolving electric vehicle (EV) market in China, two major players are set to make a splash. Li Auto, known for its extended-range electric vehicles (EREVs), and Xiaomi, the tech giant venturing into the EV industry, are gearing up for high-profile product launches.
Li Auto, one of the major EREV players in China, currently sells the L-series vehicles, including the Li L6, Li L7, Li L8, and Li L9. On the other hand, Xiaomi's first electric model, the SU7, is set to debut its ultra-performance variant, the SU7 Ultra, on February 27. Lei Jun, the founder of Xiaomi, has described the SU7 Ultra and the Xiaomi 15 Ultra as two of the most high-end products in Xiaomi's fifteen-year history.
Interestingly, the Li i8 and the SU7 Ultra are both scheduled to launch in the same week, albeit on different dates. However, Li Auto has recently adjusted the announcement date of the Li i8 from February 27 to February 25, 2023. This move was likely made to avoid coinciding with the launch of the Xiaomi SU7 Ultra, thereby maximizing visibility and impact for its own product reveal.
The Li i8, Li Auto's first all-electric SUV, has been named and official images have been released. Meanwhile, the SU7 Ultra went on pre-sales for RMB 814,900 ($112,220) on October 29, 2023.
Li Auto's CEO, Li, posted on Weibo after a significant reduction in his social media activity, hinting at exciting news on the horizon. The adjustment in the Li i8 announcement date was made to thank Lei Jun for his past support of Li Auto and to avoid public misunderstanding due to the launch of Xiaomi's two Ultra products being scheduled for February 27.
The "L" in Li Auto's EREVs stands for "Leading," while the "i" in the all-electric SUVs stands for "intelligence." Li Auto has also launched its first battery electric vehicle (BEV), the Li Mega MPV. All of Li Auto's current vehicles are SUVs, reflecting a focus on this popular segment of the market.
The exchange rate on March 1, 2024, is RMB 7.2617 to $1. Following the Li i8 announcement, Li Auto's Hong Kong-traded shares have seen an increase of more than 10 percent, reflecting investor excitement about the company's latest offering.
As both Li Auto and Xiaomi prepare to launch their high-end EVs, the competition is set to heat up in the Chinese market. With their focus on innovation, performance, and design, these two companies are poised to make a significant impact in the EV industry.
- Li Auto's upcoming all-electric SUV, the Li i8, is scheduled to launch on February 25, 2023, a day before Xiaomi's SU7 Ultra.
- The Li i8, named for its smart features, is one of Li Auto's current battery electric vehicles (BEVs).
- In the Chinese EV market, Li Auto and Xiaomi, with their focus on innovation, performance, and design, are gearing up for high-profile product launches.
- Li Auto's L-series vehicles, including the Li L6, Li L7, Li L8, and Li L9, are extended-range electric vehicles (EREVs).
- Xiaomi's first electric model, the SU7, will debut its ultra-performance variant, the SU7 Ultra, on February 27, priced at RMB 814,900 ($112,220).
- Lei Jun, founder of Xiaomi, has described the SU7 Ultra and the Xiaomi 15 Ultra as two of the most high-end products in Xiaomi's fifteen-year history.
- Following the Li i8 announcement, Li Auto's Hong Kong-traded shares have seen an increase of more than 10 percent, reflecting investor excitement about the company's latest offering.
