Tesla Inc. (NASDAQ:TSLA) rival Li Auto Inc. (NASDAQ:LI) will release two new SUVs this year and could also release the company's first-ever sedan, provided the market conditions are favorable.
What Happened: The company provided details on the Li i8, which is the company's first all-electric SUV, as well as the Li i6 during the automaker's Q1 2025 earnings call on Thursday.
The i8 will be a larger model capable of accommodating 6 passengers, while the i6 would be a comparatively smaller 5-seater SUV. The models would be released in July and August this year, respectively, the company said.
Li Auto CEO Li Xiang also provided an update on the company's maiden sedan model during the earnings call. The CEO shared that the company will release a sedan once the annual revenue reaches RMB 300 billion or over $41 billion.
Why It Matters: The news comes in as Li Auto posted results that beat analyst expectations at the company's earnings call. The company reported a quarterly revenue growth of 1.1% year-on-year to RMB 25.9 billion ($3.6 billion). It also reported an increase in sales.
Elsewhere, several Chinese EV manufacturers have been steadily gaining a footprint across multiple regions around the globe. Most notably, EV giant BYD Co. Ltd. (OTCPK: BYDDY) has overtaken Elon Musk's Tesla in European sales as the Chinese automaker's plans to manufacture in Europe take shape.
Tesla, in the meantime, has been gearing up for the Robotaxi launch on June 12 as Musk has reaffirmed his commitment to the company by ending his involvement with the Trump administration and DOGE.
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