August 10, 2022
By way of the tip of 2024 at the newest, the principle fashions of BBA’s

By way of the tip of 2024 at the newest, the principle fashions of BBA’s in the community produced medium-to-large SUVs can be promoting for not up to RMB 500,000, he mentioned.

The speedy upward push of native Chinese language automakers within the electrical car (EV) technology is posing a risk to German luxurious automakers’ pricing device right here. Within the view of the person on the helm of Li Auto (NASDAQ: LI, HKG: 2015), inside of two years the German automakers’ SUV fashions can be considerably more cost effective than they’re these days.

“I be expecting that by means of the tip of subsequent 12 months on the earliest, and the tip of 2024 at the newest, the principle fashions of BBA’s in the community produced medium-to-large SUVs will promote for not up to RMB 500,000 ($74,700),” Li Auto founder, chairman and CEO Li Xiang mentioned on Weibo on Wednesday, including that “Shoppers would be the largest beneficiaries.”

In China’s auto business, “BBA” is observed as an abbreviation for Mercedes-Benz, BMW and Audi.

Li didn’t point out explicit fashions, however the 3 German luxurious automakers’ medium-to-large SUVs introduced in China are the Mercedes-Benz GLE, BMW X5 and Audi Q7, with beginning costs of 699,800 yuan ($104,480), 605,000 yuan and 632,800 yuan, respectively.

The Li Auto CEO’s feedback got here 9 days after the corporate unveiled its new SUV, the Li L9, a unprecedented problem from a Chinese language carmaker to German luxurious carmakers.

Alternatively, his perspectives now appear to be shared by means of many Chinese language. The corporate’s just-launched SUV Li L9 has the similar dimensions as the huge SUVs from Mercedes-Benz and BMW – the GLS and X7 – however prices part as a lot.

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Li Auto formally released the Li L9, the corporate’s 2d fashion after the Li ONE SUV, following its predecessor’s extended-range era, at a release match held within the night of June 21 Beijing time.

The Li L9 is priced on the similar flat fee because the Li ONE, at RMB 459,800, up RMB 110,000 from the Li ONE’s RMB 349,800.

The Li L9 is a full-size SUV with a period, width and top of five,218 mm, 1,998 mm and 1,800 mm respectively, and a wheelbase of three,105 mm, virtually similar to the one of the best circle of relatives SUVs from Mercedes-Benz and BMW.

The period, width and top of the Mercedes-Benz GLS are 5,218 mm, 2,030 mm and 1,823 mm, with a wheelbase of three,135 mm. The period, width and top of the BMW X7 are 5,163 mm, 2,000 mm and 1,835 mm, with a wheelbase of three,105 mm.

When it comes to pricing, the Mercedes-Benz GLS has a urged retail value beginning at RMB 1,068,000 ($167,630) and the BMW X7 begins at RMB 1 million, each two times the cost of the Li L9.

The Li L9 has already won greater than 30,000 orders inside of 72 hours of the car being to be had for pre-order, the corporate mentioned on June 24, including that this demonstrates the automobile’s superb product attraction to circle of relatives consumers.

On June 4, Li mentioned on Weibo that the fashion can be formally dropped at consumers in August and deliveries may just exceed 10,000 in September.

This text was once first printed by means of Phate Zhang on CnEVPost, a website online that specialize in new power car information from China.