Li Auto's July deliveries hit a record as Chinese EV consumers prefer hybrid options

Core Insights - Li Auto achieved record deliveries of 51,000 cars in July, marking the first time surpassing the 50,000 mark since December [1] - The strong performance is attributed to the new, lower-cost Li L6 SUV, which has monthly deliveries exceeding 20,000 units since its launch in April [1] - The Li L6 SUV is priced at 249,000 yuan ($34,373), making it the company's most affordable model, comparable to Tesla's Model Y in China [1] Company Performance - Li Auto's July deliveries reflect a growing consumer preference for vehicles with extended driving range capabilities, as the new models include a fuel tank alongside the battery [1] - The company’s other models are priced above 300,000 yuan, indicating a strategic pricing approach with the introduction of the Li L6 [1] Industry Context - Tesla, which focuses solely on battery-powered vehicles, reported sales of 59,261 cars in June, highlighting the competitive landscape in the new energy vehicle market in China [2]