The Last Chinese Manufacturer of Electric Cars Debuted on Wall Street with an eLElectric SUV with 7 Seats and 500 Miles of Autonomy

Pushed by the wave caused by Tesla’s unstoppable march, Chinese manufacturers are spreading their tentacles in the West, and the latest example is Li Auto. An unknown brand that has successfully debuted in its first public offering of shares on Wall Street.

On its first day, Li auto has placed 95 million shares with a value of $11.50 each, which has meant improving the estimates that estimated its starting price between $8 and $10. According to Bloomberg calculations, an exit has allowed him to achieve a market capitalization of about 10 billion.

The company adds to the list of electric car manufacturers that have managed to take advantage of the rise in the United States’ stock market to achieve a significant capitalization. This is the case of NIO, which has seen its value double since it arrived in 2018. There is also the example of Nikola Corp, which has managed to convince investors with their hydrogen trucks raising $12 billion despite not having any product for sale or any demo model. A listing expected to be added shortly by Fisker, as well as the Chinese manufacturer WM Motor.

In the case of Li Auto, we face a manufacturer with excellent economic performance, with revenues that are increasing and bringing them closer to profits. In the first quarter of 2020, they reached 120 million dollars, tripling the figures for the previous year and losses of just 1 million dollars.

Last April, Li auto managed to become the second-largest manufacturer of electric cars in China, behind NIO, with 2,600 units delivered in a single month. One of its keys is to have a different product, the Li Xiang One.

A large SUV, 5.02 meters long, which takes the Range Rover design as a reference, with a more modern appearance and an electric proposal with a range extender where we find a 240 kW (327 hp) electrical system with engines in the front and rear axle, which propel you up to 100 km/h in 6.7 seconds.

The energy comes from a 41 kWh battery, which allows it to travel 180 km in electric mode. When it runs out of battery, a small 1.2-liter gasoline engine comes into action, which works as a range extender and allows the total figure to be carried up to 800 NEDC kilometers.

A model that can have a configuration of up to 6 and 7 seats and that has a price that starts at 38,900 euros in exchange. A price of demolition that was achieved thanks to public aid from the government that, as we recall, exempts electric cars manufactured in its territory from paying taxes. As we see, a model seeks a breakthrough in the west where, without a doubt, with a competitive price, it would convince many customers.

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