Promising Outlook for Li Auto with BEV Market Entry and L-Series Upgrades

Chinese electric vehicle maker Li Auto (NASDAQ: LI) launched its first battery electric vehicle (BEV) on March 1, 2024. Called Mega, the new car is a flagship family MPV (multi-purpose vehicle) model. Mega is Li Auto’s first endeavor into the BEV market. Along with Mega, the carmaker also launched upgraded 2024 L-series models for its L7, L8, and L9 car series, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.

According to Visible Alpha consensus, Li Auto is projected to sell approximately 49K units of Mega in 2024, generating CN¥20.2 billion in revenue. Furthermore, the automaker’s upgraded 2024 models of its L7, L8, and L9 car series are expected to sell 191K, 156K, and 129K units, respectively, in 2024. Li Auto is preparing to launch several new car models in 2024, including three additional BEVs and other EREVs, such as the new L-series model L6.