The Li Auto L9 Pro with 449 hp, 1315 km of range and AD Pro driving assistance system launched in China. Price sliced 6.5%.
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Category: Li Auto
The Li L9 Pro does not come with LiDAR, and the assisted driving chip has been switched from 2 Nvidia Orin X chips to a Journey 5 from Horizon Robotics.
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Deutsche Bank expects Li Auto's management to guide third-quarter deliveries at around 100,000 units, driven by strong demand for the Li L7 and Li L8.
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Following a price cut and a slew of new models, Nio's sales efficiency has improved materially and should maintain this level of demand for at least the rest of the third quarter, said Edison Yu's team.
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In the January-July period, Li Auto delivered 173,251 vehicles, up 144.62 percent year-on-year.
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Li Auto sold 32,500 vehicles from July 1 to July 30, Nio 18,100 and Xpeng 11,600 vehicles.
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Morgan Stanley raised its price target on Nio to $18.7, on Xpeng to $25.4, and on Li Auto to $53, all keeping their ratings at Overweight.
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More on Xpeng-Volkswagen, Audi e-Tron GT hits China market, DJI reveals 'Chengxing' intelligent drive system, Li Auto clarifies on 'Ideal' trademark issue.
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Li Auto delivered 86,533 vehicles in the second quarter, exceeding the upper end of its guidance range of 76,000 to 81,000 vehicles.
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It's another sign that China's auto industry is changing rapidly and becoming hyper competitive, forcing major changes at traditional OEMs, Edison Yu's team said.
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