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Home ยป Li Auto Slashes Prices Amid China’s Raging EV Discount Wars

Li Auto Slashes Prices Amid China’s Raging EV Discount Wars

Li Auto

Shots fired! Li Auto has announced a fresh salvo of price cuts across its Chinese market as the electric vehicle discount wars continue raging. The company’s L-series (L7/L8/L9) Pro models are seeing discounts of 18,000 RMB (around $2,600), while the heftier Max and Ultra trims get whacked by 20,000 RMB apiece. But the biggest price drop? A massive 30,000 RMB markdown for Li Auto’s flagship MEGA model.

The recently launched L6, however, remains unscathed for now. But in an industry-first move, even existing Li Auto owners get to join the discount party with cash rebates headed their way.

So what’s behind Li Auto’s price adjustments? Well, it’s all part of the escalating price wars sparked by Tesla and its new global sales honcho slashing EV prices worldwide by $2,000 last this week, (Tesla has Cut Prices in China Model 3/Y by 4-6%, Model S/X Were Reduced by as Much as 22%). While that cut was smaller than the Q1 2023 typhoon of discounts, it was still enough to trigger a fresh round of tit-for-tat price drama.

With Li Auto now leading the charge above 300,000 RMB, BYD dominating the sub-200K segment, and Tesla controlling the middle ground, all the major Chinese EV players have officially opened fire on each other’s wallets.

The only question now is: who’s going to blink first in this cutthroat discount showdown?

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