Electric SUV L7 by Li Auto
The company plans to launch four new models next year, including three electric cars.
(Photo: Reuters)
The Chinese carmaker Li Auto is declaring war on the German brands BMW, Audi and Mercedes on the home market. “We want to become the number one premium car brand in China by 2024,” CEO Li Xiang told investors on Tuesday evening. Already in the coming year they want to overtake BMW, Mercedes-Benz and Audi in China by accelerating the introduction of new models and ramping up production. In 2024, the company will launch four new models, including three electric cars.
According to the company, 173,251 vehicles rolled off the assembly line in the first seven months of this year, an increase of 145 percent compared to the same period last year. In the third quarter, the company wants to deliver more than 100,000 vehicles. According to the China Association of Automobile Manufacturers, sales of BMW, Mercedes-Benz and Audi ranged between 31,500 and 70,000 units per month in the first half of the year.