Li Auto Inc. (Li Xiang Qiche, Lixiang)

Overview Li Auto Inc. (Chinese: 理想汽车; pinyin: Lǐxiǎng Qìchē; lit. ‘ideal car’) is a Chinese electric vehicle (EV) manufacturer headquartered in Beijing, China, with manufacturing facilities in Changzhou, Jiangsu. Founded in 2015 by Li Xiang, the company primarily produces range-extended electric vehicles (EREVs)—hybrid electric vehicles that use a petrol engine as a range extender.

History

Founding and Early Years

• 2015: Li Xiang, founder of PCPop and Autohome.com.cn, established Beijing Chehejia Information Technology (“Car and Home”). Initially, the company focused on low-speed EVs for ride-sharing services.
• 2018: Chehejia partnered with DiDi (China’s largest ride-hailing company) for a joint venture, but the partnership collapsed. The company subsequently abandoned low-speed EVs due to lack of government support.

Rebranding to Li Auto

• 2019: The company rebranded as Leading Ideal Inc. and later shortened its name to Li Auto Inc.
• April 2019: The first Li Auto One was unveiled, a range-extended electric SUV with a 1.2L turbocharged petrol engine and a 40 kWh lithium-ion battery.
• November 2019: Production of the Li One began at the Changzhou factory, and deliveries commenced in early 2020.

Stock Market and Expansion

• July 2020: Li Auto went public on the Nasdaq stock market (LI), raising $1.1 billion.
• October 2021: The company acquired Beijing Hyundai’s former plant in Shunyi District and began construction of a second manufacturing facility.
• 2022: Li Auto overhauled its portfolio and expanded beyond the Li One SUV:
  • Li L9 (Flagship full-size SUV, March 2022)
  • Li L8 (Shorter variant, September 2022)
  • Li L7 (Mid-size SUV, September 2022)
  • Li One production ended in October 2022, leading to backlash from customers.
• November 2023: Li Auto launched the Li Mega, its first battery-electric vehicle (BEV).

Models

Current Vehicles

Discontinued Vehicles

Controversies

• 2020: Reports surfaced regarding braking system failures and smoke in the cabin of the Li Auto One. The company denied widespread defects.
• July 2021: A viral Weibo video showed mercury balls inside a Li One vehicle. An internal investigation confirmed the contamination, but no further legal actions were reported.

Sales Performance

Conclusion

Li Auto has established itself as a leading EV manufacturer in China, specializing in range-extended electric SUVs. With strong market growth and expansion into full battery-electric vehicles (BEVs), Li Auto is poised to become a major global EV player.