This Chinese brand presented its new electric SUV yesterday and its stocks have skyrocketed

Li Auto, one of the leading car manufacturers in China, has experienced a significant increase in its stock value, rising nearly 15% yesterday, following the unveiling of the first images of its new electric SUV, the Li i8.

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This model represents the company’s official entry into the competitive electric vehicle (EV) market and is expected to compete directly with other leading brands such as BYD, Tesla, and XPeng, as well as with German giants BMW, Mercedes-Benz, and Audi.

So far, Li Auto has specialized in the sale of extended-range electric vehicles (EREVs), which combine an electric motor with a small internal combustion engine.

More than half a million cars sold in 2024, Li Auto is going all out

This strategy has yielded positive results, allowing the company to achieve sales of over 500,000 vehicles last year, a figure that positions it as one of the fastest-growing luxury car brands in China. The company also recently launched the electric MPV Li Mega, its first fully electric model, in March.

The i8 was designed following the futuristic aesthetic of the other models of the brand, standing out for a light bar that runs across both the rear and front.

Initially, Li Auto had planned to launch three electric SUVs in the second half of 2024, but decided to delay their launch to expand its network of superchargers in China, aligning with Tesla’s model.

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The company reported that deliveries of the L6 model exceeded 200,000 units in January, maintaining its position as the best-selling EREV in China for the seventh consecutive month. With a network of 500 sales centers and 1,845 supercharging stations already established in the country, Li Auto is well positioned to face the growing competition in the electric SUV sector.