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The story
Founded by Li Xiang on Jul 1, 2015.1
In 2015, Li Xiang, founder of Chinese website PCPop and automotive website Autohome.com.cn, created a company called Beijing Chehejia Information Technology (Chehejia translates as "Car and Home"). It started its operations by developing and producing low-speed EVs that targeted car-sharing and ride-hailing services. In 2018, Chehejia reached an agreement for a joint venture with DiDi, China's largest ride-hailing service company, but the plan collapsed shortly afterward. In the first half of 2018, Chehejia abandoned the low-speed EV project due to the lack of support from the Chinese central government for legalizing the EV category.
In 2019, the holding company Chehejia Technologies, based in the Cayman Islands, rebranded itself as Leading Ideal Inc. The following year, it shortened the name to Li Auto, and the company was renamed Li Auto Inc. In Chinese, the brand is commonly known as Lixiang (理想).
Li Auto unveiled its first model named the Li One in April 2019, with production beginning in November of the same year. It is a range-extended electric SUV powered by a combination of a 1.2-litre three-cylinder turbocharged engine, and a 40 kWh lithium-ion battery. Production was done at its Changzhou factory, with deliveries of the vehicle commencing in early 2020.
In July 2020, Li Auto made its debut on the Nasdaq stock market under the stock code "LI," raising US$1.1 billion in its initial round of financing. Investors of the company include Meituan and Source Code Capital. Despite strong sales and significant popularity in the Chinese market, the company encountered difficulties in securing sufficient investment during its first year on the stock exchange, closing at only 70% of the anticipated value for its initial financing round.
In October 2021, Li Auto started the construction of its second plant in Shunyi District in Beijing. This site was previously owned by Beijing Hyundai but was sold to Li Auto due to a prolonged decline in Beijing Hyundai's sales.
In 2022, Li Auto underwent a comprehensive portfolio overhaul, introducing a new design language and expanding its model lineup from the existing Li One SUV to include three entirely new models. The flagship Li L9 made its debut in March, followed by the L8, a shortened variant, and the L7, a smaller version without a third row of seats, presented in September. During the same month, Li Auto made the decision to cease production of the Li One in October 2022, which generated a negative reaction from recent buyers of the SUV.
In November 2023, Li Auto presented its fourth model, Li Mega, a full-size flagship MPV. It is the first battery electric car produced by the company.
In 2025, Li Auto introduced the i Series, a new lineup of fully electric vehicles inspired by the design of the Li Mega. The first model, the Li i8, was launched in February 2025, followed by the Li i6 in September.
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At an earnings call in May 2025, CEO Li Xiang said that Li Auto would consider launching sedan models after maximizing revenue from their existing lineup, which consisted of the L-series range-extender SUVs and MEGA MPV at the time. Sedan models would be considered based on market demand from future overseas markets in Europe and Asia.
From Wikipedia’s article on Li Auto, shared under CC BY-SA 4.0.8