Chinese electric vehicle (EV) maker Li Auto Inc (LI.O) said on Friday it would significantly boost its charging network this year and next as it officially enters the battery electric vehicle (BEV) space.
The company aims to have more than 5,000 supercharging stations online by 2025, covering 90% of main highway routes and core urban areas in Tier 4 and more developed cities, Li Auto said in a statement.
Li Auto will invest over RMB 6 billion ($835 million) in the next few years to increase the number of stations with 5C charging piles to over 5,000, it said in a Weibo post.
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The company did not provide a specific timeline for completing the 5,000 5C supercharging stations. It is currently constructing supercharging stations primarily with 2C superchargers.
The “C” refers to the charging multiplier, with 5C meaning an EV can theoretically be fully charged in one-fifth of an hour. Li Auto launched its first BEV model, the Li Mega MPV, on March 1, claiming a 500-kilometer range on a 12-minute charge.
The company unveiled its all-electric solution at last year’s Shanghai auto show and began building its own supercharging stations in the first half of last year, opening its first seven 4C supercharging stations on April 20 for trial operation.
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To date, the company has put 349 supercharging stations into operation. In 2024, Li Auto aims to have more than 2,000 supercharging stations, it said.
Li Auto’s network of supercharging stations will cover nine major horizontal highways and nine major vertical highways in 2024, with stations with 5C supercharging piles covering more than 70% of the main highway routes, it said today.
In cities, Li Auto will build its own charging stations and work with partners to build the stations. The company aims to have urban supercharging stations covering 50% of core city areas in Tier-3 and more developed cities this year, it said.
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Li Auto’s main sales models are three extended-range electric vehicles (EREVs) — Li L7, Li L8, and Li L9. Li Auto will launch the Li L6 EREV in the second quarter and three all-electric SUV models in the second half of the year, the company’s management said in a February 26 analyst call following the announcement of fourth-quarter 2023 earnings.
