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Daniel Ren

Li Auto, one of Tesla’s closest rivals in mainland China, has priced its new mid-size SUV more than 5 per cent cheaper than the US carmaker’s bestselling Model Y, as it looks to expand its customer base in the cutthroat electric vehicle (EV) market.
The five-seater Li L6, the Beijing-based carmaker’s cheapest model, is priced from 249,800 yuan (US$34,509) onwards, with deliveries beginning next week.
The electric SUV, which uses extended-range battery technology, is the “best buy” among cars priced below 300,000 yuan, vice-president Liu Jie said.
“It will bring an enjoyable experience to more families on their journey,” he told a virtual launch ceremony on Thursday evening. “We hope the vehicle will create a mobile and happy home for more families.”

The entry-level edition of Tesla’s Shanghai-made Model Y is priced at 263,900 yuan.
EVs fitted with small internal combustion engines generate additional power during idling, thereby extending a battery-propelled car’s range.
Li Auto’s three larger SUVs – L7, L8 and L9 – use the extended-range technology. The carmaker also assembles and sells the pure-electric multipurpose vehicle Mega on the mainland.
The L6’s battery gives the five-seater SUV a range of as much as 212km on a single charge, and with the combustion engine it can reach 1,390km.
Model Y’s basic edition has a driving range of 554km. Assembled at the Shanghai Gigafactory, Tesla sold 456,394 units on the mainland last year, an increase of 44.8 per cent from 2022. It outsold any other SUV, including petrol-powered rivals, in the world’s biggest automotive market.


Last year, Li Auto reported a year-on-year jump of 182 per cent after handing over 376,030 vehicles to mainland customers. The company broke its monthly sales record for nine consecutive months from April to December.
Tesla delivered more than 600,000 Shanghai-made Model 3s and Model Ys to mainland buyers last year, an increase of 37 per cent from 2022.
“About a dozen SUVs built by Chinese carmakers are viewed as rivals to Model Y, but they have yet to mount a real challenge to the Tesla vehicle,” said Eric Han, a senior manager at Suolei, an advisory firm in Shanghai. “The L6 is likely to siphon off buying interest in Model Y, but it will not be able to pose a strong threat [to Model Y].”


Li Auto, along with Shanghai-headquartered Nio and Guangzhou-based Xpeng, are viewed as China’s best response to Tesla since all the three companies build intelligent EVs featuring autonomous driving technology, digital cockpits and high-performance batteries.
Among the trio, Li Auto is the only company that has posted a profit. It earned 11.8 billion yuan last year, compared with a net loss of 2 billion yuan in 2022.
Li Auto has set a delivery target of 800,000 units for 2024, a 127.5 per cent increase year on year.
In the first three months of this year, it delivered 80,400 units, 52.9 per cent higher than a year ago.


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Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y
The L6 can go up to 212km on a single charge, and as much as 1,390km using the extended-range battery technology


Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y.


Li Auto takes on Tesla’s Model Y by pricing new L6 SUV deliberately lower as cutthroat discounts persist in China

Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y The L6 can go up to 212km on a single charge, and as much as 1,390km using the extended-range battery technology

Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y

The L6 can go up to 212km on a single charge, and as much as 1,390km using the extended-range battery technology