Just over ten days after the release of the upgraded L-series models, Chinese automaker Li Auto has introduced new non-air suspension versions, further driving down prices.
On March 12, Li Auto announced that the 2024 models of the L7 and L8 would utilize continuous damping control (CDC) sports suspension systems, continuing the nomenclature of the Air models, priced at RMB 301,800 (USD 42,000) and RMB 321,800 (USD 44,760) respectively. Both new models are scheduled to be launched in May this year and begin deliveries.
Simultaneously, adjustments will be made to the 2024 L7 and L8 model series, transitioning their names from Air, Pro, and Max to Pro, Max, and Ultra, respectively. The naming of the 2024 L9 Max will also be adjusted to L9 Ultra accordingly.
Insiders at Li Auto told 36Kr that, when preparing for the upgraded models last year, the CDC suspension configuration had already been set to achieve a further price reduction while maintaining the brand without significant depreciation.
Earlier on March 1, when Li Auto released the upgraded models of the extended-range L7, L8, and L9 series, the entire lineup was equipped with air suspension systems and the Qualcomm 8295 chip. Among them, the entry-level Air version of the L7 and L8, previously equipped with CDC sports suspension, was upgraded to utilize the Li Magic Carpet air suspension system under the Pro naming without changing the price.
In the current market environment where automotive manufacturers are generally adding features and reducing prices for new cars, Li Auto’s prices are not particularly competitive despite showcasing upgraded configurations with significant improvements.
Li Auto also stated that, after the launch of the new L-series models, the company received feedback from some users who hoped that the L7 and L8 would retain models equipped with CDC sports suspension, which combines the use of a coil spring with continuously variable dampers. Therefore, the internally decided non-air suspension version may come in handy.
Overall, the current highlight feature of the L7 and L8 Air version is the CDC sports suspension. The Pro model has been upgraded to utilize the Li Magic Carpet air suspension system and the AD Pro intelligent driving system. The Max model comes standard with a dual-use refrigerator for cooling and heating, and the AD Max intelligent driving system. The Ultra model is equipped with a 52.3 kWh large battery range extender system, the high-performance version of the Qualcomm Snapdragon 8295P, and the AD Max intelligent driving system. The L9 will retain only the Pro and Ultra versions.
In addition, Li Auto is offering an extra benefit to customers who order a 2024 L-series model before March 31, offering them RMB 5,000 (USD 695) that can be applied against the purchase price. Li Auto’s initial RMB 5,000 benefit offered at the launch of the 2024 models will also remain in place.
It is evident that amid the price war sparked by traditional automakers such as BYD, Li Auto’s strategy of selling at the “original price with additional features” has seemingly paled in comparison, necessitating simplification of configurations and ultimately price reductions.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This article was written by Li Anqi for 36Kr.