Li Auto Shares Jump 7% as EV Maker Starts Taking Pre-Orders for 6-Seat SUV Li i8

Li Auto has launched pre-sales for its first electric SUV (sport utility vehicle), the Li i8, with expected pricing significantly higher than that of its direct competitor, Nio sub-brand Onvo' L90.

US-listed shares of Li Auto jumped 7% in premarket trading on Thursday.

The company began accepting pre-orders for the Li i8 six-seat SUV at 10 am Beijing time today, stating that the expected price range is RMB 350,000 ($48,760) to RMB 400,000.

The official pricing of the Li i8 will be announced at the launch event on July 29, with deliveries set to begin in late August, according to Li Auto.

Consumers who pre-order the model between July 17 and 29 will be eligible for priority delivery upon confirmation of their orders, the company said.

The expected pricing of the Li i8 is at least RMB 70,100, or 25.04 percent, higher than the Onvo L90's pre-sales price of RMB 279,900.

Li Auto may need to convince potential consumers why they should choose the Li i8 over the cheaper, larger Onvo L90.

The Li i8 measures 5,085 mm in length, 1,960 mm in width, and 1,740 mm in height, with a wheelbase of 3,050 mm.

In comparison, the Onvo L90 measures 5,145 mm in length, 1,998 mm in width, and 1,786 mm in height, with a wheelbase of 3,110 mm.

The Li i8 is Li Auto's first all-electric SUV and its second battery electric vehicle (BEV) model following the Li Mega MPV (multi-purpose vehicle).

Li Auto believes that a well-developed charging infrastructure is crucial to the success of the Li i8, having previously committed to having over 2,500 supercharging stations in China by the time the model launches.

As of now, Li Auto has reached 2,883 supercharging stations, according to monitoring by CnEVPost.

In contrast, the Onvo L90 supports fast charging and can use Nio's battery swap network. As of now, Nio has 3,402 battery swap stations, 2,890 supercharging stations, and 1,777 destination charging stations in China.

The Li i8 is equipped with a 97.8 kWh ternary lithium battery pack supporting 5C charging, with a CLTC range of up to 720 kilometers.

The Onvo L90 comes standard with an 85-kWh ternary lithium battery and a CLTC range of 605 kilometers. However, the Onvo model supports battery swap, meaning there is flexibility to upgrade to a larger battery pack.

Currently, the available battery packs for the Onvo brand are 65 kWh and 85 kWh. The Nio brand offers battery pack options of 75 kWh, 100 kWh, and 150 kWh.