Li Auto begins deliveries of i8 electric SUV with goal of up to 10,000 units by end of Sept
Analysts estimate that Li Auto has secured more than 12,000 cancellable orders for the Li i8, which should support an optimistic delivery scenario by the end of September.
- Li Auto aims to deliver 8,000 to 10,000 Li i8 units by the end of September.
- Analysts estimate that Li Auto has secured more than 12,000 cancellable orders for the Li i8, which should support an optimistic delivery scenario by the end of September.
Li Auto (NASDAQ: LI) has begun deliveries of the Li i8 following a bumpy launch for the all-electric SUV (sport utility vehicle) model.
On August 20, the six-seat all-electric SUV Li i8 began its first deliveries in 44 cities across China, Li Auto announced today on Weibo.
Li Auto did not provide further details, sharing only some photos from the delivery sites.
On August 13, Li Auto said its factories were operating at full capacity and would ensure deliveries of over 8,000 Li i8s by the end of September.
Meanwhile, the company will work with its supply chain partners to work towards delivering 10,000 Li i8s by the end of September, Li Auto said at the time.
In a research note released yesterday, Deutsche Bank analyst Wang Bin's team said that this sales guidance is higher than their previous monthly sales forecast of 5,000 units for the SUV.
The team estimated that Li Auto currently has more than 12,000 cancellable orders for the Li i8, which should support an optimistic scenario of delivering 10,000 units by the end of September.
The Li i8 was launched on July 29 and is Li Auto's second battery electric vehicle (BEV) model after the Li Mega MPV (multi-purpose vehicle).
The company re-launched the Li i8 on August 5, reducing the available trims from three to one and lowering the price after encountering poor initial acceptance.
The Li i8 currently starts at RMB 339,800 ($47,330), higher than the RMB 321,800 starting price for the Li L8 extended-range electric vehicle (EREV).
Li Auto will launch the Li i6 in September, a smaller electric SUV than the Li i8, with a lower price expected.
Deutsche Bank estimated that the Li i6 will achieve an average monthly sales volume of about 15,000 units, contributing significantly to Li Auto's sales and helping its stock price rebound.
($1 = RMB 7.1801)
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