The launch event of the Li L6 will begin in a few hours at 8 pm Beijing Time.

(Image credit: Li Auto)

Li Auto (NASDAQ: LI) said it will start deliveries of the Li L6 next week, with the new model set to be officially launched in a few hours' time and will be the automaker's least expensive.

Li L6 deliveries will begin next week in small batches, with high-volume deliveries starting in May, Li Auto said today on Weibo.

The launch event of the new five-seat SUV (sport utility vehicle) will begin at 8 pm Beijing Time on April 18.

At the end of the launch event at 9 pm Beijing Time, the Li L6 will begin accepting customer orders, Li Auto said today.

Customers can pay RMB 5,000 ($690) to order the Li L6, and the deposit is refundable at any time within seven days, according to the company.

Customers who order the Li L6 between April 18 and May 5 will get exclusive benefits, details of which will be announced at the launch event, Li Auto said.

Li Auto is China's best-known extended-range electric vehicle (EREV) maker, and its EREVs currently on sale are the Li L7, Li L8, and Li L9, which are its sales anchors.

On March 1, Li Auto launched the Li Mega MPV (multi-purpose vehicle), its first battery electric vehicle (BEV) model. The MPV has a starting price of RMB 559,800, making it the most expensive Li Auto currently sells.

The company's current least expensive model is the Li L7, which starts at RMB 319,800 for the 2024 model.

The Li L6 will be Li Auto's lowest priced. On September 22, 2022, Li Auto said it would launch the Li L6, a mid-size five-seat SUV priced within the RMB 300,000 range, its first mention of the model.

The model is based on Li Auto's second-generation EREV platform, which took three years to develop and more than RMB 2 billion invested in, it said on April 6.

The company also created a new production line for the Li L6, located within its Changzhou production base, which is also producing the Li L7, Li L8, and Li L9.

($1 = RMB 7.2391)

Li Auto reportedly lowers 2024 sales target to 560,000-640,000 cars