Tesla Rival Li Auto Says L6 SUV Deliveries Crossed 200,000 Units In Less Than 9 Months Of Launch

Chinese EV maker Li Auto LI said on Thursday that it has surpassed 200,000 deliveries of its L6 vehicle in less than nine months of its launch.

What Happened: Li Auto announced the L6 five-seater SUV with a starting price of about 249,800 yuan in April and commenced deliveries in the same month.

Less than nine months since launch, the company has already delivered over 200,000 units of the vehicle, the company said, likely due to its low price point.

Tesla’s Model Y mass-market SUV, in comparison, starts at 263,500 yuan in China for the base variant. Tesla’s lower-priced Model 3 sedan, meanwhile, starts at 235,500 yuan.

Why It Matters: Li Auto started volume production in November 2019 and as of the end of December, its cumulative deliveries stood at 1,133,872 units.

In 2024 alone, the company delivered over 500,500 vehicles, taking up a significant portion of the competitive Chinese EV market, and marking a growth of 33% year-on-year.

The company’s current vehicle lineup includes its Li MEGA family MPV as well as multiple SUVs including the L9, L8, L7, and L6.

Price Action: NASDAQ-listed shares of Li Auto closed down 2% at $21.88 on Wednesday. The stock is down 8.9% year-to-date, according to data from Benzinga Pro.

Li Auto has a consensus price target of $34.86 based on the ratings of 11 analysts tracked by Benzinga, and a consensus “buy” rating.

The three most recent analyst ratings were released by Barclays, Macquarie, and Citigroup in November, October, and September, respectively. With an average price target of $31.2 between Barclays, Macquarie, and Citigroup, there’s an implied 42.47% upside for Li Auto from these most recent analyst ratings.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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