Li Auto

APublic (NASDAQ: LI / HKEX: 2015)Founded 2015🇨🇳Beijing, China

CEO

Li Xiang

Data verified as of Jul 18, 2026

Summary

Li Auto is a Beijing-based premium new-energy vehicle maker founded in 2015 by Li Xiang, best known for pioneering extended-range EVs (EREVs) — a battery pack paired with a gasoline range-extender generator — which powered its rapid rise. It was the first Chinese EV startup to post a full-year profit (2023) and remains among the most financially solid, ending 2025 with ~RMB101.2B (~$14B) cash. Its L-series EREV SUVs (L6/L7/L8/L9) are the volume backbone, and the company has surpassed 1,733,687 cumulative deliveries as of June 30, 2026. But 2025 was a down year — 406,343 deliveries, off ~18.8% YoY — as EREV competition intensified and the BEV transition dragged; its first BEV, the MEGA MPV (launched March 2024), flopped relative to targets. Li Auto has since expanded its BEV line with the i8 six-seat SUV (July 2025) and the i6 five-seat SUV (September 2025), the latter becoming its sales backbone at ~21,453 units in June 2026. Q1 2026 turned to a RMB2.3B net loss with gross margin collapsing to 7.9% amid the i6 ramp and price competition. For 2026 the company targets ~550,000 deliveries (~40% growth), refocusing on EREVs (an all-new L9 and revamped L6 relaunched in July 2026), a new BEV SUV, and the international launch of the L9.

Main Products

Li L9

Active

Six-seat full-size flagship EREV SUV. The all-new 'L9 Livis' relaunched in July 2026 with an M100 chip, 800V architecture and active suspension.

Recently refreshed. June 2026 deliveries jumped to 6,106 units (+137.6% MoM) after the relaunch.

Combined Range (CLTC, EREV)~1,650 km (up to ~420 km pure-electric)

PowerDual-motor 300 kW (402 hp)

Starting Price (China)Ultra from RMB459,800; Livis from RMB509,800

Li L6

Active

Entry-level EREV SUV and Li Auto's most affordable model, broadening the L-series to a lower price point.

Revamped July 16, 2026 with a larger battery and faster charging at an unchanged price.

Combined Range (CLTC, EREV)1,250 km (~300 km pure-electric)

PowerDual-motor 300 kW (402 hp)

Starting Price (China)Ultra RMB249,800 (~$36,910)

Li MEGA

Active

Li Auto's first battery-electric vehicle — a premium all-electric MPV with a distinctive aerodynamic shape and 5C fast charging.

Launched March 2024 to a rocky reception (~10,798 units in 2024) and a price cut; an updated version relaunched April 2025. Passed its 30,000th delivery by January 2026 as a niche-volume flagship.

Charging5C fast-charging (800V architecture)

Launch Price (China)RMB559,800 (cut to RMB529,800)

Cumulative Deliveries30,000+ (by January 2026)

Li i8

Active

Six-seat battery-electric family SUV — part of Li Auto's push to build a pure-electric lineup alongside its EREVs.

Launched July 29, 2025 and relaunched August 5 with price cuts after a weak initial reception; deliveries began August 20, 2025.

PowertrainBattery-electric (5C fast charging)

Starting Price (China)~RMB321,800 (~$44,830)

Li i6

Active

Five-seat all-electric SUV that became Li Auto's sales backbone — an affordable, long-range BEV built on a 5C LFP pack.

Launched September 26, 2025; became the top seller at ~21,453 units in June 2026 (69% of monthly volume), with cumulative production above 150,000.

Range (CLTC)up to 720 km (87.3 kWh 5C LFP pack)

Starting Price (China)from RMB249,800 (~$35,010)

June 2026 Deliveries~21,453 units (69% of monthly total)

What's Next

Deliver ~550,000 vehicles in 2026

Li Auto targets roughly 550,000 deliveries in 2026 (~40% growth), refocusing on its EREV strength with the all-new L9 and revamped L6 while ramping the i-series BEVs; Q2 2026 was guided at 95,000-100,000 units with gross margin recovering toward ~10%.

2026

Launch the all-new L9 internationally

Li Auto plans to begin international sales of an International Exclusive Version of the all-new L9 in Q3 2026, entering the Middle East and Central Asia via direct sales and local partnerships — its first major overseas push.

Q3 2026

Add a new pure-electric SUV

Alongside EREV upgrades (the M100 chip rolling across the L-series), Li Auto plans at least one additional new battery-electric SUV in 2026 to broaden its i-series and lift BEV volume.

2026

Move next-gen VLA autonomy to production

Li Auto is advancing its Vision-Language-Action (VLA) driver model from demonstration to production across AD Max vehicles, scaling in-vehicle models past 4B-7B parameters over 2026-2027.

2026-2027

Recent News

View all →

Jul 19

Li Auto relaunches revamped L6 SUV to revive EREV sales

Li Auto launched a revamped version of its L6 extended-range SUV on July 16 at an unchanged starting price of RMB249,800 (about $36,900), aiming to reinvigorate one of its best-selling but slowing models. The single L6 Ultra variant pairs a larger 51 kWh battery (up from 36.8 kWh) for 300 km of battery-only CLTC range and 1,250 km combined, with Li Auto's in-house 1,280-TOPS Mach M100 assisted-driving chip and a 29-inch 6K display. Deliveries begin within a week, part of a July EREV refresh alongside the all-new L9 as Li Auto targets roughly 550,000 deliveries in 2026 after a down year.

Operations & Revenue

StatusOperational

Li Auto is a full-scale automaker (30,728 employees; ~1.73M cars delivered lifetime) that pivoted from a highly profitable EREV-only model into a broader EREV+BEV lineup. After record 2024 results it hit a rough patch: 2025 deliveries fell ~19% and FY2025 net income collapsed 85.8% to RMB1.1B, then Q1 2026 swung to a RMB2.3B net loss with gross margin down to 7.9% amid the i-series BEV ramp and price competition. It remains cash-rich (~RMB94-101B) and guided Q2 2026 deliveries of 95,000-100,000 with gross margin recovering toward ~10%. All-new L9 and revamped L6 models relaunched in July 2026 to revive EREV volume as the i6 becomes its best-seller.

Revenue Streams

Vehicle Sales

Dominant revenue source — L-series EREV SUVs plus the MEGA and i-series BEVs.

Other Sales & Services

After-sales, parts and accessories, super-charging, financing and embedded software features.

Key Metrics

Employees

30,728

Est. Annual Revenue

RMB23B (~$3.33B) in Q1 2026 (-11.4% YoY, net loss RMB2.3B); ~RMB116B in FY2025

Cumulative Deliveries

1,733,687 (as of June 30, 2026)

2025 Deliveries

406,343 (-18.8% YoY)

Cash Reserves

RMB101.2B (~$14B), end-2025; RMB94.3B at Q1 2026

FY2025 Net Income

RMB1.1B (-85.8% YoY)

Super-charging Network

4,077 stations / 22,509 stalls (Apr 30, 2026)

Timeline

2026Down year and a Q1 loss

Full-year 2025 deliveries fall ~18.8% to 406,343 and net income drops 85.8% to RMB1.1B; Q1 2026 then swings to a RMB2.3B net loss with gross margin collapsing to 7.9% during the i-series ramp and price competition.

2026All-new L9 and revamped L6 relaunched

Li Auto relaunches an all-new L9 ('Livis', ~1,650 km combined range, M100 chip, 800V) and a revamped L6 in July 2026 to revive its EREV sales, as the i6 becomes its best-seller (~21,453 units in June) and cumulative deliveries pass 1,733,687.

2025BEV expansion (i8, i6) and VLA driver model

Li Auto launches the i8 six-seat BEV SUV (July, relaunched at lower prices after a weak reception) and the i6 five-seat BEV SUV (September from RMB249,800), and fully deploys its Vision-Language-Action (VLA) driver model across AD Max vehicles.

2024MEGA BEV launch stumbles; record deliveries

Li Auto's first BEV, the MEGA MPV, launches in March 2024 but badly misses targets (~10,798 units for the year), forcing price cuts. The company still delivers a record 500,508 vehicles in 2024 on the strength of the L-series.

2023First profitable full year

Li Auto becomes the first Chinese EV startup to post a full-year profit, with net income of RMB11.8B on revenue of RMB123.85B (+173.5% YoY) and a 22.2% gross margin, powered by the L-series EREV lineup.

2021Hong Kong dual-primary listing

Li Auto lists on the Hong Kong exchange (2015) in August 2021, raising ~$1.5B in a dual-primary listing.

2020Nasdaq IPO

Li Auto lists ADSs on Nasdaq (ticker LI) in July 2020, raising ~$1.1B.

2019Li ONE launches

Li Auto's first model — a six-seat extended-range (EREV) SUV — begins deliveries in December 2019, validating the range-extender approach for the Chinese market.

2015Company founded

Li Xiang founds the company (originally CHJ Automotive / Chehejia) in Beijing to build family-oriented new-energy vehicles.

Funding

Round	Date	Amount	Investors	Source
IPO (Nasdaq)	July 2020	~$1.1B	Public offering (Nasdaq: LI); pre-IPO backers included Meituan and Bytedance
IPO (Hong Kong)	August 2021	~$1.5B	Dual-primary listing (HKEX: 2015)