Li Xiang: The most important thing in 2023 is the delivery of Ideal L7 and the release and delivery of pure electric models

IT House reported on December 11 that Li Auto announced its unaudited financial results for the third quarter of 2022 this week. Li Auto’s total revenue for the quarter reached RMB 9.34 billion, and its quarterly deliveries reached 26,524 vehicles.

IT Home learned that Li Auto achieved revenue of 9.34 billion yuan in the third quarter, a year-on-year increase of 20.2%; quarterly deliveries reached 26,524 vehicles, a year-on-year increase of 5.6%. The family’s six-seater flagship SUV Li L9 delivered 10,123 units in the first full month, and has been the sales champion of large SUVs in China for two consecutive months.

In the question-and-answer session after the announcement of the financial report, Li Xiang answered the key points of Li Auto in 2023, such as the delivery of L7 and the release of pure electric models.

Li Xiang said: It is estimated that the monthly delivery of Ideal L9 will be between 8,000-11,000 vehicles, and that of Ideal L8 will be between 10,000-14,000. It is too early to judge the sales volume of Ideal L7; Seeing the good delivery performance of Ideal, and the performance of Ideal Auto in Q1 of 2023 will be better than the market.

As for the ideal first pure electric model that has attracted much attention in the industry, he said that it will be released in 2023. The most important thing next year is the delivery of the ideal L7 and the release and delivery of the first pure electric model.

In terms of research and development, the research and development of Li Auto this year is at the level of 7 billion yuan, and the research and development expenditure plan for next year is expected to be between 10 billion and 12 billion yuan; among them, the research and development of the underlying system exceeds the research and development of the model, and the research and development expenses are more in the platform research and development.

When asked about the price cuts of Tesla and other car companies, Li Xiang said that price adjustments will not have much impact on the order volume, and price cuts by friends will have little impact on Li Auto, so the probability of starting a price war next year is not high.

Regarding the issue of Shanghai canceling the green card for plug-in hybrid models next year, Li Xiang said: policy changes will indeed have an impact on the sales volume of Ideal in Shanghai, and other factors must also be considered, that is, most consumers who buy Ideal are upgrading vehicles, not buying vehicles. The first car; Ideal Auto will launch a new sales policy in Shanghai. Generally speaking, Shanghai does not account for a lot of total sales. Next, Ideal Auto will also launch pure electric models.

He believes that after the production is stable, the monthly delivery of Ideal L9 is expected to be between 8,000 and 11,000 vehicles, and the monthly delivery of Ideal L8 will basically be between 10,000 and 14,000 vehicles.

In the fourth quarter of this year, Ideal Auto is expected to deliver 45,000 to 48,000 vehicles, a year-on-year increase of 27.8% to 36.3%; total revenue is expected to be 16.51 billion to 17.61 billion yuan.

In addition, Li Auto is actively developing its own components for the 800V high-voltage pure electric platform, including power chips, power modules, electronic controls, motors, and transmission systems, aiming to become one of the first automakers to launch high-voltage pure electric vehicles.