Chinese automaker Li Auto is gearing up to launch its all-electric SUV, the Li M6, in a move that will intensify competition in the rapidly growing electric vehicle (EV) market in China. The Li M6, internally codenamed W04, is expected to start deliveries in March 2025, according to local automotive media Meiren Auto, citing sources familiar with the matter.
The Li M6 will be a five-seat all-electric SUV, positioning it to compete directly with popular models such as the Tesla Model Y, Aito M5, and Xpeng G6, according to the report.
See also: Li Auto Updates L-Series Models with Configuration Upgrades and Price Hikes
Li Auto’s current lineup primarily consists of extended-range electric vehicles (EREVs), including the Li L7, Li L8, and Li L9. The company recently ventured into the battery electric vehicle (BEV) market with the launch of the Li Mega MPV (Multi-Purpose Vehicle) on March 1.
In a bid to further expand its product portfolio, Li Auto plans to introduce the Li L6 EREV in the second quarter of this year, followed by three all-electric SUVs in the second half, as revealed during a February 26 analyst call following the fourth-quarter 2023 earnings results.
The Li L6 is expected to be priced between RMB 200,000 ($27,780) and RMB 300,000, targeting a broader consumer base in the Chinese market.
Meiren Auto suggests that Li Auto will likely launch corresponding BEV versions of its L-series EREVs, with the Li M7, Li M8, and Li M9 expected to debut in the second half of this year.
The report indicates that Li Auto is optimistic about the sales potential of the Li M6, aiming for delivery of 200,000 units in the first year of launch. This ambitious target aligns with the company’s broader goal of challenging annual sales of 800,000 units in 2024, with monthly sales reaching up to 100,000 units.
See also: Li Auto CEO Expects Strong Sales for Li Mega BEV, Sets Ambitious Targets for 2024
Li Auto’s founder, chairman, and CEO, Li Xiang, reiterated the company’s long-term vision of becoming China’s leading smart EV company by 2025, with a targeted market share of 20% and annual sales of 1.6 million vehicles, generating annual revenues of RMB 500 billion.
