China’s Li Auto expects to launch first fully electric EV in March

(Reuters) – China’s Li Auto Inc said on Sunday it expects to launch and begin deliveries of its first fully electric car in March.

Li Auto has already started taking pre-orders in China for its MEGA multi-purpose vehicle (MPV) at an estimated price of under 600,000 yuan ($84,533.24).

The automaker said in November that the MEGA MPV would be the first model produced at its Beijing plant, which has a design capacity of 100,000 units a year.

Founded in 2015, Li Auto offers four extended range hybrid SUVs priced above 300,000 yuan and designed for family users.

It ranked seventh by sales volume in the first 10 months this year among manufacturers of electric and hybrid cars in China and has not unveiled any plans to sell its vehicles overseas.

($1 = 7.0978 Chinese yuan renminbi)

(Reporting by Gnaneshwar Rajan in Bengaluru; editing by Jason Neely)