On November 17, Li Auto announced that it plans to begin mass production and delivery of its inaugural pure electric car in February. The Chinese automaker is banking on fast charging technologies to address range anxiety for EV users. According to the company, the MEGA multi-purpose vehicle features a waterdrop-shaped front design and is equipped with an 800-volt charging system and the latest Qilin batteries from CATL. This allows for a driving range of 500 km (310 miles) after just a 12-minute charge.
Li Auto has opened pre-orders in China for its new model, which is expected to cost less than 600,000 yuan ($82,826.02). The company is also promoting the car's sleek design, which reduces air resistance and energy consumption, ultimately extending the driving range.
The MEGA MPV will make history as the inaugural model to roll off the production line at Li Auto's Beijing plant, which has a planned annual capacity of 100,000 units. Li Auto was established in 2015 and has since focused on providing four extended-range hybrid SUVs designed for family use.
In the third quarter, the company reported a net income of 2.82 billion yuan ($389.15 million) and a revenue of 34.68 billion yuan.
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