Source: YuanAuto

"Today, Li Auto's supercharging stations have surpassed 2,500, outnumbering Tesla's charging stations in China."

On June 19, Li Xiang, CEO of Li Auto, tweeted on Weibo that he had achieved the goal set in February: "When the i8 is released, our objective is to exceed Tesla's station count."

The i8 was initially scheduled to debut in the second half of 2024. After reassessing the brand's first pure electric vehicle, MEGA, Li Auto decided to postpone the launch of this SUV by a year. Li Xiang attributed MEGA's initial struggles to three key factors: a limited market for MPVs priced above 500,000 yuan, the simultaneous launch of new L series models causing communication and sales chaos, and incomplete charging infrastructure.

With the charging stations now in place and only one new vehicle in the brand's lineup, the competition has shifted to the SUV segment priced between 300,000 and 400,000 yuan. Li Auto's upcoming i8 launch in July clears the way for the brand's first foray into the pure electric vehicle market.

However, this time, Li Auto faces even greater pressure.

01

Good News: MEGA's Success

For Li Auto to re-enter the pure electric vehicle market, reaching 2,500 charging stations is crucial. Yet, in terms of boosting pre-battle confidence, the surge in MEGA orders following its 2025 model update in April might be even more impactful.

"It's fine as long as Home orders exceed expectations, and we're currently ramping up production."

On June 19, Li Auto's Public Relations Department, in communication with YuanAuto, expressed pleasant surprise at MEGA's market performance. The "Home" refers to MEGA's new top-of-the-line model, the Home Family Special Edition, priced at 559,800 yuan, 30,000 yuan higher than the standard MEGA.

Since switching to the 2025 model in April, weekly orders for the 2025 MEGA account for 5%-8% of Li Auto's overall orders. Based on Li Auto's recent sales, the new MEGA sells hundreds of units weekly, with the MEGA Home Family Special Edition accounting for the majority. In May, Li Auto sold 994 MEGA units, the second-highest level in the past year (June 2024 to May 2025), and it is expected to surpass the 1,000-unit monthly mark and set a new high in June.

However, MEGA currently faces the happy problem of having more and more new owners-to-be urging Li Auto to deliver their cars on various social media platforms due to conservative production expectations. Li Auto cannot significantly increase production in the short term.

"Production capacity in August will be slightly higher than planned, and we'll see if we can further increase the July plan..." @ Old Tang Ge Tango, head of Li Auto's product line, recently stated publicly.

With the MEGA Home, priced at 559,800 yuan, also selling well, Li Auto naturally begins to envision the prospects for the i8.

However, this time, Li Auto has learned to be more reserved and is no longer proclaiming slogans like "monthly sales of 6,000 units" and "top sales of passenger vehicles priced above 500,000 yuan" as it did during MEGA's 2024 launch. Instead, it is quietly adjusting internal expectations.

According to "Yijian Auto" reports, Li Auto recently adjusted its 2025 annual production target to 640,000 units, down from the previous 700,000 units. However, the reduction mainly affects the extended-range L series, while the pure electric series, including MEGA, has seen an increase.

02

Bad News: Squeezed Extended-Range L Series

Regarding Li Auto's extended-range L series, the official downward revision of its 2025 annual production target is simply due to the influx of new vehicles in the same segment this year.

Since the beginning of 2025, nearly 10 mainstream brands have entered the 250,000-450,000 yuan new energy hybrid SUV market, which is Li Auto's sales stronghold. This number is expected to continue rising in the second half of the year. Among them, models like AITO Wenjie M8 and Link&Co 900 are in short supply.

According to official data, AITO Wenjie M8 delivered over 20,000 units within 45 days of its launch, and Link&Co 900 received over 30,000 confirmed orders within half a month of its launch.

In contrast, among Li Auto's L series models, only the L9, the first domestic car equipped with a dual-chamber dual-valve air suspension, has seen increasing popularity. The other three models, L8, L7, and L6, have not reached new market peaks due to relatively minor upgrades. According to data from industry influencer @ Sun Shaojun 09, sales of the four L series models were all below 8,000 units in the first two weeks of June, with cumulative sales of the entire brand around 16,000 units during the same period.

Combining April and May's cumulative sales of around 83,000 units, Li Auto needs to increase its weekly sales to an average of at least 12,000 units in the remaining two weeks of June to achieve the second-quarter sales target of 123,000-128,000 units disclosed in the first-quarter earnings call, which is quite challenging.

To boost end-of-quarter sales, Li Auto has launched a new round of policy incentives.

On June 19, YuanAuto learned from multiple potential Li Auto car owners that significant cash discounts of up to over 20,000 yuan are currently available for both the L9 Ultra priced at the 450,000 yuan level and the L6 Pro priced at the 250,000 yuan level, in addition to the option of a free charging pile or 30,000 points.

It is evident that Li Auto's extended-range hybrid SUVs, its core lineup, have been significantly impacted by the market, and the pressure is expected to increase. In this context, Li Auto's i8, tasked with breaking into the pure electric vehicle market, is crucial.

Unlike the MEGA, priced above 500,000 yuan, Li Auto's i8 is more mainstream, with an expected pricing range of 300,000-400,000 yuan. Considering Li Auto i8's SUV identity and focusing solely on price, its direct competitors are primarily NIO, with no other significant models at the same price point.

"Families needing a large space and six seats, see you in July." According to Li Xiang, the large space and six-seat configuration of Li Auto's i8 will be the new car's killer feature. It is worth mentioning that VLA model-assisted driving, considered the next technological hotspot after end-to-end model-assisted driving, will also be equipped on Li Auto's i8.

Although a cheaper Li Auto i6 is in the pipeline, this time, Li Auto's i8 is a decisive battle in its quest for the pure electric vehicle market.

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