Li Auto to Begin Mass Production of First Electric Car in February
Li Auto, a Chinese automaker, has announced that it will start mass production and delivery of its first pure electric car in February. The company is banking on fast-charging technology to address range anxiety issues for electric vehicle (EV) users.
The electric car, called MEGA, is a multi-purpose vehicle (MPV) with a unique waterdrop-shaped front design. It will be equipped with 800-volt charging architecture and the latest Qilin batteries from Chinese battery giant CATL. Li Auto claims that the combination will give the MEGA a range of 500 kilometers (310 miles) on just a 12-minute charge.
The company has already begun accepting pre-orders for the MEGA in China, estimating its price to be under 600,000 yuan ($83,000). Li Auto also highlights the low air resistance of its streaming design, which improves energy efficiency and extends the driving range.
Chinese media reports have indicated that Li Auto expects a monthly sales volume of 5,000 units or more for the MEGA. If achieved, this would position Li Auto at the top of the large-sized MPV segment, currently led by Mercedes Benz with its Vito model boasting average monthly sales of 1,400 units.
Li Auto remains tight-lipped about its monthly sales target but states that it expects the MEGA to become the preferred car for family users in the price range of above 500,000 yuan.
The MEGA MPV will be the first vehicle produced at Li Auto’s Beijing plant, which has an annual capacity of 100,000 units.
Since its establishment in 2015, Li Auto has focused on offering extended-range hybrid SUVs designed for family users. It is currently ranked seventh in sales volume among Chinese electric and hybrid car manufacturers for the first ten months of this year. However, the company has not disclosed any plans for international sales.
In the third quarter of this year, Li Auto recorded a net income of 2.82 billion yuan and revenue of 34.68 billion yuan.
Li Auto’s move into mass production of electric vehicles reflects the company’s confidence in the growing demand for EVs in China. With its focus on fast-charging technology and innovative design, Li Auto aims to capture a significant share of the Chinese EV market and establish itself as a top player in the industry.
Disclaimer: This article is purely fictional and is not based on any real events.