李想的纯电翻身仗，打得艰难

Core Insights - The launch of the Li Auto i8, which cost approximately 2 billion yuan in design modifications, failed to impress consumers with a standout advantage and did not align with current market trends, leading to a stock price drop of over 10% immediately after its release [1][2] - A strategic competition for future family travel scenarios has begun, with the i8 facing competitors such as the Leado L90, Huawei's AITO M8 electric version, and Tesla's upcoming Model YL [1][7] - Concerns among some shareholders about the company's future are evident, as key management and shareholders sold stocks prior to the i8 launch, indicating a lack of confidence in the new product's success [1][13] Group 1 - The i8's design changes did not yield the expected consumer excitement, and the stock market's reaction reflects investor skepticism about Li Auto's future [2][4] - The i8 is positioned in a highly competitive pure electric six-seat SUV market, where consumer preferences are shifting towards features like storage space, which the i8 lacks [4][7] - Li Auto's sales performance has declined, with a 24.06% year-on-year drop in new car deliveries in June, raising concerns about its market position [8][9] Group 2 - The company has adjusted its annual sales target downwards from 700,000 to 640,000 units, with a completion rate of only 31.9% halfway through the year [9][10] - Profitability is under pressure, with the average net profit per vehicle dropping from 17,800 yuan to less than 7,000 yuan, a decline of over 60% [11] - The competitive landscape has intensified, with other companies rapidly adopting similar technologies, diluting Li Auto's previous advantages in the extended-range vehicle market [11][13] Group 3 - The i8's market performance is critical for the company's future, especially following the unsuccessful MEGA launch, as it must meet investor expectations [15][18] - Li Auto is also planning to launch the i6, a five-seat electric SUV, in September, aiming to double its sales target for electric vehicles from 50,000 to 120,000 units [18][19] - The market's patience for Li Auto's electric products is limited, emphasizing the need for successful launches to maintain its competitive edge [19]