Sristi Suman Jayaswal

Thu, Jun 26, 2025, 6:15 AM5 min read

As the global electric vehicle (EV) wave gains speed amid strong government backing, China’s electric engine is roaring louder than ever. In a 1.9-million-unit market, plugin vehicle sales came to more than 1 million in May. Extended-range electric vehicles (EREVs) are also quietly stealing the spotlight. With 116,000 units sold in May alone, EREVs grew 52% year-over-year (YOY), claiming 11% of the plugin market.

This pivot fits Li Auto (LI) perfectly. While some automakers rushed into pure battery electric vehicles (BEVs), Li Auto carved out its niche with EREVs, bridging traditional combustion and EV tech. Li’s premium EREV lineup has earned it a loyal base in China’s hyper-competitive EV space, where price wars, tech races, and global ambitions collide.

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Now entering the pure electric arena, Li Auto is following up its Li MEGA minivan with the Li i6 SUV. News of China's Ministry of Industry and Information Technology (MIIT) approving the model recently sent shares climbing, putting the spotlight back on Li as it prepares for a September launch. Sleek, spacious, and aimed squarely at premium rivals, the Li i6 signals a bold move for the EV firm. But as Li Auto ventures beyond its EREV stronghold and into an all-electric battlefield, can this momentum carry LI stock higher?

Li Auto is driving China’s electric revolution with a smart twist: EREVs built for families who want tech without the range anxiety. Since rolling out its first model in 2019, the company’s lineup has grown into a fleet of premium SUVs as well as the futuristic Li MEGA minivan — all designed for comfort, safety, and innovation.

Now expanding into pure battery EVs, Li Auto is doubling down on in-house tech, smart features, and user-focused design. With more than 500 retail stores, 500-plus service centers, and more than 2,000 supercharging stations, Li Auto is building an electric lifestyle for modern China.

Li Auto's market capitalization currently stands at $29.9 billion. Shares might have hit the brakes after February’s $33.12 peak, now down 15% from that high. But the bigger picture tells a different tale. LI stock is still up 52% over the past 52 weeks, a solid surge surpassing the broader S&P 500 Index’s ($SPX)  11% rally.