Chinese Li Auto lowers the annual sales goal for 2024 from 800,000 to just 480,000 units. What are the reasons for a 40% cut?
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Thousands of completed Li Megas are currently parked in the parking lot of Li Auto's Beijing plant, according to local media.
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Li Auto is accused of exaggerating market demand for the Li Mega and the effectiveness of its operational strategy when it launched the model, allegations that the company refutes.
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Li Auto joins the new wave of price war in China to maintain the good sales volume.
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Li Auto incorrectly treated a period of commercial validation as a period of rapid growth with the Li Mega, and this strategic miscalculation was the essential reason for the model's issues, its CEO said.
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Li Auto's management was expecting 70,000 to 80,000 units of the Li Mega for the full year prior to its launch, and is now discussing whether to lower that to 50,000 to 60,000 units, according to local media.
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Between March 16 and April 15, Li Mega owners who use Li Auto's supercharging stations to charge their vehicles will be rewarded with credits equal to the amount they pay per charge.
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Li Auto raised target number of supercharging stations from 2,000 to 2,700 by the end of this year and offers a five-year, worry-free car ownership benefit for the Li Mega to increase the model's appeal.
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Li Auto CEO said the company will fight back against organized crimes, as Li Mega's design has been hit with an avalanche of negative comments over the past few days.
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The Li Mega has a strange futuristic presence. It’s a head-turner. Questions remain if the high price will turn consumers away in the long run.
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