Li Auto Just Launched Its First Electric SUV: Here’s Why Investors Are Already Backing Off

Li Auto shares fell sharply in Hong Kong trading on Wednesday after the launch of the company’s first battery electric SUV, the Li i8. 

Shares of Li Auto, which dropped 6.2% to $27.38 in U.S. trading on Tuesday, fell 10.4% to HK$107.40 in Hong Kong on Wednesday.

The i8, a six-seat family SUV, officially debuted with a starting price of 321,800 yuan ($44,850), below initial estimates but still above key rival offerings, CnEVPost reported.

Investors appeared disappointed with the value proposition, especially in comparison to Nio’s Onvo L90, which starts at 279,900 yuan ($38,988) and offers battery-swap flexibility and a broader tech feature set.

At the launch event, Li Auto primarily focused on its Advanced Driver Assistance Systems (ADAS) system and voice assistant, making limited mention of other innovations. 

In contrast, Nio’s Onvo brand highlighted a 900-volt architecture, lightweight body, and enhanced safety systems at its pre-sale event.

The i8 will begin deliveries on Aug. 20 and comes equipped with a 97.8 kWh ternary lithium battery, 5C fast charging, and a CLTC range of up to 720 km. However, the vehicle lacks battery-swap support; instead, it relies on its rapidly growing supercharging network, now totaling 2,883 stations.

Meanwhile, Tesla is also preparing to introduce a new six-seat version of its Model Y, specifically designed for Chinese families. Regulatory filings are already complete, and production is expected to commence at its Shanghai Gigafactory. In the second quarter alone, Tesla sold more than 86,000 Model Ys in China, making it one of the country’s top-selling EVs.

The i8 is Li Auto’s second BEV after the Li Mega MPV and arrives amid slowing delivery growth. The company delivered 203,938 units in the first half of 2025, representing a 7.91% year-over-year increase, according to CnEVPost. 

On Stocktwits, retail sentiment for Li Auto was ‘neutral’ amid ‘ high’ message volume.

Li Auto’s U.S. shares have risen 14% so far in 2025, while the company’s Hong Kong stock gained 14.8% over the same period.

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