LI brand story
LI is a new energy automobile manufacturer in China, which designs, develops, manufactures and sells luxury intelligent electric vehicles. Founded in July 2015, it is headquartered in Beijing and has its own production base in Changzhou, Jiangsu Province. Through product innovation and technology research and development, it provides safe and convenient products and services for home users.
In China, LI is a pioneer in the successful commercialization of extended-range electric vehicles. Li ONE, the first and only commercialized extended-range electric vehicle model, is a six-seat medium and large luxury electric SUV (sport utility vehicle) equipped with an extended-range system and advanced smart car solutions. It started mass production in November 2019 and launched the 2021 Li ONE on May 25, 2021. On March 1, 2022, LI announced the delivery data for February 2022. In February 2022, LI delivered 8,414 Li ONE vehicles, an increase of 265.8% compared with February 2021. By the end of February, 2022, Li ONE had delivered 144,770 vehicles.
According to the prospectus of Hong Kong stocks, LI will launch the first product of X platform in 2022 — — Full-size luxury extended-range electric SUV, and launched two other SUVs on the X platform in 2023. In the future, two high-voltage pure electric vehicle platforms will be launched — — Whale and Shark, and since 2023, two new high-voltage pure electric vehicles have been launched every year.
LI is developing 400kW ultra-fast charging technology. Before the introduction of pure electric vehicles in 2023, the necessary ultra-fast charging infrastructure will be built to meet users’ demand for fast charging in high-speed and some dense areas.
On July 30th, 2020, LI was officially listed on the NASDAQ stock market with the stock code "Li".
On July 1, 2015, Li Xiang founded LI;
On October 18th, 2018, the first product — — Li ONE；;
On April 10, 2019, Li ONE listed and announced the price — — The national unified retail price was 328,000 yuan, and users began to accept reservations;
On May 1, 2019, the first batch of five ideal retail centers in Beijing, Tianjin, Shanghai, Guangzhou and Shenzhen officially opened.
On November 20, 2019, LI Changzhou Base began mass production, and Li ONE officially went offline;
In December 2019, Li ONE began to deliver users;
On July 30, 2020, LI was officially listed on the Nasdaq stock market in the United States, with the stock code "Li";
In October, 2020, LI delivered 3,692 Li ONE vehicles, a steady growth compared with September, 2020, and once again set a new monthly delivery record. By October 31st, 2020, the company has 41 retail centers in 36 cities.
On December 18, 2020, Li ONE delivered more than 30,000 users; Since the delivery was officially started in Li ONE on December 4, 2019, LI has completed the delivery of the first 30,000 vehicles in just 12 months and 14 days, setting a record for the fastest delivery of the first model of New Car Power.
In April 2021, Li ONE delivered more than 50,000 users;
On April 1, 2022, the national unified retail price in Li ONE was 349,800 yuan.
On June 1, 2021, the 2021 Li ONE began to be delivered to users;
On July 10th, 2021, the 100th direct retail center in LI officially opened.
On August 12th, 2021, LI was officially listed on the main board of Hong Kong Stock Exchange, with stock code: 2015.
In October, 2021, LI announced that Beijing Green Intelligent Factory was officially started in Shunyi District, Beijing. This is to build an intelligent manufacturing factory for pure electric passenger cars by using the former Beijing Hyundai No.1 Factory, with a total area of 270,000 square meters. LI said that the investment of the whole project exceeds 6 billion yuan, and it is planned to be put into production by the end of 2023. After commissioning, the first phase will achieve an annual production capacity of 100,000 pure electric vehicles.
On October 28th, 2021, the 100,000th Li ONE officially rolled off the production line at Changzhou base in LI, and it is ideal to become the first new car-making force product with a single model exceeding 100,000. It only took 708 days to set a record for the fastest single car-making force in China to break 100,000.
On November 29th, LI announced its financial report for the third quarter of 2021. In this quarter, it achieved revenue of 7.78 billion yuan and delivered 25,116 vehicles, up by 190.0% year-on-year, reaching a new record high.
On December 1st, LI announced the delivery volume in November. Li ONE delivered 13,485 vehicles in November, and the cumulative delivery volume from January to November was 76,404 vehicles. Since its launch, Li ONE has delivered 110,001 vehicles.
In December, 2021, LI announced that it would start to push OTA version 3.0. After this update, the "visual parking" function will be added to the 2020 model, and the "navigation-assisted driving" function will be enabled to the 2021 model. In addition, functions such as "ideal classmate" have also been optimized.
LI announced the delivery volume in December 2021 and the whole year. In 2021, the total delivery volume was 90,491 vehicles, up 177.4% year-on-year.
On January 28th, 2022, Beijing Chehejia Information Technology Co., Ltd. obtained the patent authorization of "Vehicle Falling into the Water Escape Device and Vehicle".
In February 2022, the "WeChat Car Edition" was updated, saying that it had been connected to 15 car manufacturers such as Ideal.
In February, 2022, the third production base in LI will surface. This may mean that LI will build a production base in Chongqing.
On February 25, 2022, LI released the financial report for the fourth quarter and the whole year of 2021. The financial report shows that LI achieved revenue of 10.62 billion yuan in the fourth quarter and delivered 35,221 vehicles, and the quarterly revenue exceeded 10 billion for the first time; In 2021, the company achieved revenue of 27.01 billion yuan and delivered 90,491 vehicles, both of which reached record highs. By the end of the fourth quarter, the company’s cash reserves reached 50.16 billion yuan. On the premise of substantially increasing R&D investment and accelerating the expansion of sales network, it still achieved profitability in the fourth quarter, with operating cash flow reaching 3.84 billion yuan, which fully reflects that LI has outstanding operating efficiency.
On March 23, 2022, the official Weibo of LI released a message saying that due to the continuous sharp rise of upstream raw materials, LI will adjust the price of Li ONE from April 1, 2022, and the national unified retail price will be raised from the current 338,000 yuan to 349 yuan, 800 yuan. This price adjustment will take effect from 0: 00 on April 1, 2022.
On January 30th, 2020, LI donated 2 million yuan through Hubei Charity Federation to support the prevention and control of pneumonia infected by novel coronavirus in Wuhan and other areas.
On July 21st, 2021, LI donated 10 million yuan to Henan Charity Federation for flood control and disaster relief.