Chehejia
To create a new urban transport for the future of energy, products, services, ecology.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
* | $1.6b Valuation: $2.9b | Series C | |
| Total Funding | 000k | ||
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Initially founded as Chehejia in 2015 by serial entrepreneur Li Xiang, the company now operates under the name Li Auto. Li Xiang's journey into the automotive world was preceded by significant success in the internet technology sector, having founded PCPop.com, a consumer electronics portal, and Autohome.com.cn, a leading online destination for car consumers in China. His experience with Autohome provided deep insights into consumer needs, which shaped the strategic direction of his new venture.
Li Auto is a prominent manufacturer in China's new energy vehicle (NEV) market, designing, developing, and selling premium smart electric vehicles. The company has carved out a specific niche by initially focusing on extended-range electric vehicles (EREVs), which feature a small gasoline engine to charge the battery, thereby addressing the range anxiety prevalent among consumers. This strategy differentiated it from competitors focused solely on battery electric vehicles (BEVs). The business model is vertically integrated, encompassing design, research, manufacturing, and sales, all handled directly. Revenue is primarily generated from vehicle sales, with a smaller portion coming from services and software upgrades. Sales are conducted through a direct-to-consumer model, utilizing a network of company-owned retail stores and online platforms.
The company's product line is aimed at the premium family segment, with an emphasis on spaciousness, safety, and advanced technology. Its current portfolio includes a range of SUVs like the Li L-series (L6, L7, L8, L9) and has expanded to include its first BEV, the Li MEGA, a multi-purpose vehicle (MPV). These vehicles are equipped with in-house developed technologies such as proprietary range-extension systems, advanced driver-assistance systems (ADAS), and smart vehicle solutions. The company went public on the Nasdaq in July 2020, raising significant capital for research and development and production expansion. Keywords: electric vehicles, extended-range electric vehicles, automotive manufacturing, smart vehicles, direct-to-consumer, premium SUVs, family vehicles, new energy vehicles, ADAS, China automotive