You have a better chance of success with a great founder than a mere scaled operator. I have a prejudice for buying the jockey rather than the horse. This profit drove investor confidence that let Li announce 11 new models through 2025, including five powered just by batteries. Its focus is on gaining market share in cars costing between $42,000 to $70,000, affordable by the upper middle class. Last year it tripled production with an operating loss but made enough money off its money to post a profit. Li is also balanced between finance and operations. Just as Li must balance between gas and electricity, it must also balance between dependence and independence in its supply chain.ĬEO Xiang Li notes that if an electric car could be sold without batteries it would cost less than a gas-powered one. Battery swaps are thus an option, if the sizes are standardized. Both companies have dedicated production lines to Li Auto’s self-developed battery packs. Li’s press release on the Li 7 makes a point of mentioning two other battery makers, Sunwoda and SVOLT. Baum previously worked on the Porsche 922.ĬATL dominates in electric car batteries, with over one-third of the global market. The Li 7 is designed by Chinese designer Gloria Ge and German designer Benjamin Baum. The car weighs almost three tons but the battery and engine combine for a range of 682 miles. You can plug in the Li 7 to get the battery from 30% to 80% charge in 8 hours. The Li 7 delivers more of all three, but at double the price of my Corolla, about $46,000 to start. That is to balance range, weight, and passenger comfort.
The idea behind both my Corolla and the Li 7 is the same. After 17,000 miles I’m still getting 53 miles per gallon, nearly double the mileage of my old Scion. You can plug it in.Ĭontrast this to my Toyota (NYSE: TM) Corolla Hybrid, which I bought a year ago. But the engine’s first purpose is to power a battery, which drives the motors. Like Li’s other cars, the Li 7 is an “Extended Range Electric Vehicle,” or EREV.
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