Li Auto Inc.(Chinese:Lý tưởng ô tô;pinyin:Lǐxiǎng Qìchē;lit.'ideal car') is a Chineseelectric vehiclemanufacturer headquartered inBeijing,with manufacturing facilities inChangzhou.[1]Founded by Li Xiang in 2015, the company mainly buildselectric vehiclesthat userange extendersfor a power supply.[3]Li Auto has vehicle manufacturing, engineering, and design services located inChangzhou, Jiangsuwith corporate headquarters and research and development located inBeijing.[1]
 | |
 Li AutoR&Dbase inGaoliying, Beijing | |
| Formerly | Chehejia / CHJ Auto |
|---|---|
| Company type | Public |
| Nasdaq:LI SEHK:2015 | |
| Industry | Automotive |
| Founded | 2015 |
| Founder | Li Xiang |
| Headquarters | Beijing,China |
Key people | |
| Products | Automobiles |
Production output |  376,030 vehicles (2023) |
| Revenue | CN¥123.85 billion (2023) |
| CN¥7.41 billion (2023) | |
| CN¥11.81 billion (2023) | |
| Total assets | CN¥114.52 billion (2023) |
| Total equity | CN¥60.57 billion (2023) |
Number of employees | 31,591 (2023) |
| Subsidiaries | Beijing Co Wheels Technology Co., Ltd Changzhou Chehejin Standard Factory Construction Co., Ltd |
| Chinese name | |
| Simplified Chinese | Bắc Kinh lý tưởng ô tô công ty hữu hạn |
| Hanyu Pinyin | Běijīng Lǐxiǎng Qìchē Yǒuxiàn Gōngsī |
| Business name | |
| Simplified Chinese | Lý tưởng ô tô |
| Hanyu Pinyin | Lǐxiǎng Qìchē |
| Website | lixiang |
| Footnotes / references [2] | |
History
edit
In 2015, Li Xiang, founder of Chinese website PCPop and automotive website Autohome.cn, created a company called Beijing Chehejia Information Technology (Chehejia translates as "Car and Home" ). It started its operations by developing and producinglow-speedEVs that targetedcar-sharingandride-hailingservices. In 2018, Chehejia reached an agreement for a joint venture withDiDi,China’s largest ride-hailing service company, but the plan collapsed shortly afterward. In the first half of 2018, Chehejia abandoned the low-speed EV project due to the lack of support from the Chinese central government for legalizing the EV category.[4]
In 2019, the holding company Chehejia Technologies, based in theCayman Islands,rebranded itself as Leading Ideal Inc. The following year, it shortened the name to Li Auto, and the company was renamed Li Auto Inc. In Chinese, the brand is commonly known as Lixiang (Lý tưởng).[4]
Li Auto unveiled its first model named theLi Onein April 2019, with production beginning in November of the same year. It is arange-extended electricSUV powered by a combination of a 1.2-litre three-cylinder turbocharged engine, and a 40 kWhlithium-ionbattery. Production was done at itsChangzhoufactory, with deliveries of the vehicle commencing in early 2020.[4]
In July 2020, Li Auto made its debut on theNasdaqstock market under the stock code "LI," raising USD 1.1 billion in its initial round of financing.[5][6]Investors of the company includeMeituanandSource Code Capital.[7]Despite strong sales and significant popularity in the Chinese market, the company encountered difficulties in securing sufficient investment during its first year on the stock exchange, closing at only 70% of the anticipated value for its initial financing round.[8][9]
In October 2021, Li Auto started the construction of its second plant inShunyi DistrictinBeijing.This site was previously owned byBeijing Hyundaibut was sold to Li Auto due to a prolonged decline in Beijing Hyundai's sales.[10]
In 2022, Li Auto underwent a comprehensive portfolio overhaul, introducing a new design language and expanding its model lineup from the existingLi OneSUV to include three entirely new models. The flagshipLi L9made its debut in March,[11]followed by theL8,a shortened variant, and theL7,a smaller version without a third row of seats, presented in September.[12]During the same month, Li Auto made the decision to cease production of the Li One in October 2022, which generated a negative reaction from recent buyers of the SUV.[13]
In November 2023, Li Auto presented its fourth model,Li Mega,a full-size flagshipMPV.It is the firstbattery electriccar produced by the company.[14]
Controversy
editIn the spring of 2020, the media circulated reports of users having problems with their SUV, the Li Auto One. An owner reported problems with the operation of the braking system, and just a day after this information appeared, another driver of the Li Auto One complained about the smell of smoke in the passenger compartment. The manufacturer denied that the risk of these defects affected other versions of the hybrid SUV.[15]
In July 2021, the Chinese social mediaWeibocirculated a video showing the discovery by one of the owners of aLi Oneofmercuryballs, which as a substance for the production of cars is banned in China. Traces of the raw material were found in the armchair, and even more of them were found after it was removed. Li Auto representatives began an investigation immediately after the video was published, confirming its authenticity.[16]
Models
editCurrent vehicles
edit| Image | Name(s) | Chinese name | Introduction (cal.year) |
Vehicle description |
|---|---|---|---|---|
| SUV | ||||
|
L6 | Lý tưởng L6 | 2024 | Mid-size SUV, PHEV (EREV) |
|
L7 | Lý tưởng L7 | 2023 | Mid-size SUV, PHEV (EREV) |
|
L8 | Lý tưởng L8 | 2022 | Full size SUV, PHEV (EREV) |
|
L9 | Lý tưởng L9 | 2022 | Full size SUV, PHEV (EREV) |
| MPV | ||||
|
Mega | Lý tưởng MEGA | 2024 | Full sizeMPV,BEV |
Discontinued vehicles
edit| Image | Name(s) | Chinese name | Introduction (cal.year) |
Discontinued | Vehicle description |
|---|---|---|---|---|---|
|
One | Lý tưởng ONE | 2019 | 2022 | Full size SUV, PHEV (EREV) |
Sales
edit| Year | Sales |
|---|---|
| 2019 | 1,000 |
| 2020 | 33,457 |
| 2021 | 90,491[17] |
| 2022 | 133,246[17] |
| 2023 | 376,030[18] |
See also
editReferences
edit- ^abchttps:// sec.gov/Archives/edgar/data/1791706/000104746920004077/a2241802zf-1.htm[bare URL]
- ^"Li Auto Inc. Announces Unaudited Fourth Quarter and Full Year 2023 Financial Results".Li Auto.2024-02-26.Retrieved2024-04-14.
- ^Barrett, Eamon."How the U.S. IPO of a Chinese electric vehicle maker defied Washington's roadblocks".fortune.Fortune.Retrieved30 November2020.
- ^abcBreevoort, Leo (2021-09-12)."The Big Read: History of Li Auto".CarNewsChina.Retrieved2024-04-13.
- ^Liao, Rita (2020-07-30)."China's electric SUV maker Li Auto raises $1.1 billion in US IPO".TechCrunch.Retrieved2022-10-03.
- ^"Chinese EV startup Li Auto goes public in the US, raises $1.1 billion".Retrieved2022-12-18.
- ^"Chinese EV maker Lixiang files for U.S. IPO of at least $500 million: sources".Reuters.2020-01-03.Retrieved2022-12-25.
- ^"Li Auto Establishes Vehicle Services Firm in Shanghai With 1B Yuan".Retrieved2022-12-18.
- ^"Tesla's China rival, Li Auto, was founded by a millennial Chinese entrepreneur named Li Xiang, and now he's a billionaire – here's how he got there".South China Morning Post.2020-12-18.Retrieved2020-12-18.
- ^Zhang, Phate (2021-10-16)."Li Auto's 2nd plant starts construction in Beijing, production expected in 2023".CnEVPost.Retrieved2024-04-13.
- ^"L9 zadebiutuje w Pekinie. SUV plug-in z wyposażeniem premium"(in Polish).Retrieved2022-12-18.
- ^"Li Auto Inc. Unveils Li L8, Its Six-Seat, Large Premium Smart SUV for Families, and Li L7, Its Five-Seat, Large Flagship Smart SUV for Families".Retrieved2022-12-18.
- ^"Li Auto faces owner outcry as it discontinues Li ONE in Oct to make way for Li L8".Retrieved2022-12-18.
- ^"Li Auto officially unveils its 1st BEV Li Mega and starts pre-sales".Retrieved2023-11-20.
- ^"Lixiang Denies Risks of First Model after Brake Issue".Retrieved2020-09-22.
- ^"Tesla is not alone." Mercurygate "is shaking Li Auto's reputation in China [video inside]".Retrieved2021-07-08.
- ^abZhang, Phate (2023-02-15)."Li Auto to report Q4 earnings on Feb 27".CnEVPost.Retrieved2023-12-27.
- ^"Lý tưởng ô tô 2023 năm 12 nguyệt giao phó 50,353 chiếc"[Li Auto will deliver 50,353 vehicles in December 2023].Li Auto.2024-01-01.Retrieved2024-01-03.
External links
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