Core Viewpoint - Morgan Stanley's report indicates that Li Auto-W (02015) has launched its long-awaited electric SUV, the i8, with a price range of 321,800 to 369,800 RMB, which is viewed as a positive surprise due to being 8% lower than the previously announced expected price [1] Pricing Analysis - The entry-level i8 is priced the same as the L8 range-extended electric vehicle, while the high-end version is approximately 10,000 RMB higher than the L8 [1] Performance Outlook - The report maintains a positive outlook on Li Auto, anticipating strong performance in the second half of the year, and reiterates a "Buy" rating with a target price of 135 HKD [1]