Li Auto rallies after unveiling new SUV model

Jun. 21, 2022 9:44 AM ETLi Auto Inc. (LI)By: Clark Schultz, SA News Editor1 Comment

Car Light Trails of Tsuen Tsing Interchange and Tsuen Wan Road

Geng Li/iStock via Getty Images

Li Auto Inc. (NASDAQ:LI) unveiled its new Li L9 SUV model.

The Li L9 is described as a six-seat, full-size flagship SUV aimed at families. The Li L9 also features the electric vehicle maker's self-developed autonomous driving system and extra safety measures aimed at protecting passengers.

The Li L9 is equipped with a dual-motor, intelligent, all-wheel drive system with maximum power of 330 kilowatts and maximum torque of 620 Newton meters, enabling acceleration from 0 to 100 kilometers per hour in 5.3 seconds. The Li L9 also features a 44.5 kilowatt-hour new-generation NCM lithium battery to support a longer driving range under EV mode of a CLTC range of 215 kilometers and a WLTC range of 180 kilometers.

On the production front, the Li L9 is the first volume production vehicle with redundancy design applied to its powertrain, steering system, braking system, and power supply system for the computing platform to ensure reliability and safety.

Li Auto (LI) said it opened up the L9 for reservations and the model is expected to arrive at all Li Auto retail stores nation-wide by July 1, with test drives available from July 16. Deliveries are slated to begin in August.

On Wall Street, Citi hiked its price target on LI to $58.60 from $26.80.

Shares of Li Auto (LI) jumped 6.80% in morning trading on Tuesday.

See the most recent options trades on LI.

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