This Chinese EV maker just unveiled its first electric SUV and its stock is surging

Li Auto’s (NASDAQ: LI) stock climbed nearly 15% on Tuesday after the company revealed the first images of its new electric SUV, the Li i8. The i8 is Li Auto’s first electric SUV, and it’s expected to be a true threat in the world’s largest EV market.

Li Auto reveals its first electric SUV, the Li i8

Li Auto is already one of China’s top-selling new carmakers. Last year, it delivered over 500,500 vehicles, claiming to be “the fastest annual sales of 500,000 units for luxury car brands” in China.

Up until last year, the company sold extended-range electric vehicles (EREVs), which are cars with both an electric motor and a small internal combustion engine that powers the battery when it gets low. EREVs have become one of China’s fastest-growing segments, fueling Li Auto’s growth over the past few years.

The Chinese startup is now expanding its lineup to include all-electric (EV) models. Last March, it launched the Li Mega MPV, its first fully electric vehicle.

On Tuesday, Li Auto revealed the first official images of its new Li i8 electric SUV. The i8 was previewed alongside the Mega MPV and L9 with the caption “Li’s first pure electric SUV.”

Although it initially planned to launch three electric SUVs in the second half of 2024, Li delayed the rollout as it expanded its supercharger network (like Tesla Superchargers) in China.

You can see the SUV closely follows the design of Li’s other models with a futuristic look, including a lightbar that stretches across the rear and front.

The i8 will join the L6, L7, L8, and L9 in Li Auto’s growing SUV lineup. Li said L6 deliveries reached over 200,000 in January after its seventh straight month as China’s top-selling EREV. At the end of January 2025, Li had 500 retail centers and 1,845 Supercharging Stations (9,820 charging ports) across China.

Li Auto’s stock climbed nearly 15% on Tuesday after the company revealed the new i8 electric SUV. LI shares are up 25% this year, but they are still down over 35% after spiking following its Q1 2024 earnings.

The i8 is expected to be a real challenger to top-selling luxury SUVs in China from BYD, Tesla, XPeng, NIO, and others, including German auto giants BMW, Mercedes-Benz, and Audi.

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