LI AUTO(US:LI) Jing Ji Guan Cha Wang·2025-09-29 07:17Core Insights - The launch of the Li Auto i6 at a price of 249,800 yuan marks a significant step for the company as it transitions from the range-extended market to the pure electric vehicle market [2] - Xiaomi's founder Lei Jun unexpectedly endorsed the Li i6, highlighting its potential in the market [2] - Li Auto's CEO Li Xiang positioned the i6 among top competitors, including the Tesla Model Y, emphasizing its importance for the company's future [2] Product Positioning - The Li i6 is designed specifically for young consumers, targeting the 250,000 to 300,000 yuan pure electric SUV market, competing with models like Tesla Model Y and BYD Tang EV [3] - The i6 differentiates itself from the larger Li i8 by focusing on a five-seat design that emphasizes sportiness and advanced features [3] - Li Xiang categorizes the current five-seat electric SUVs into two styles, positioning the i6 as a "third style" that combines elements from both [3] Technological Features - The i6 is equipped with the AD Max advanced driver assistance system and features like ATL all-weather lidar and NVIDIA Thor-U chip, aiming to enhance family user experience [4] - Li Auto is one of the few companies to implement the VLA driver model, which uses reinforcement learning for continuous improvement [4] - The i6 showcases a "single bed mode" to address the multifunctional needs of younger users [4] Market Strategy - To boost competitiveness, Li Auto is offering a cash discount and additional features for early orders of the i6 [5] - The i6 is noted to have the lowest gross margin in Li Auto's history, indicating a strategic push in the pure electric market [6] Industry Context - Pure electric vehicles are driving growth in China's new energy vehicle market, with a 46.1% year-on-year increase in sales for the first eight months of 2025 [7] - Li Auto's internal restructuring aims to enhance its sales and service framework, aligning with the launch of the i6 [7] - The company has set ambitious sales targets for the i6, aiming for 9,000 to 10,000 units per month by the end of 2025 [7] Infrastructure Development - As of September 26, Li Auto has established over 3,300 supercharging stations and more than 18,000 supercharging piles across China [8] - The company aims to create a "10-minute charging lifestyle" in first- and second-tier cities [8] - Following the i6 launch, demand has surged, with both the i6 and i8 having independent production lines to meet market needs [8]