US stock futures flounder amid tech weakness, Fed caution
Investing.com -- Chinese electric vehicle maker Li Auto (NASDAQ:LI) announced a pre-sale price range of 350,000-400,000 yuan for its new i8 model on Friday.
The pricing aligns with market expectations, with more details on specifications and official pricing scheduled to be announced on July 29.
According to channel checks, pre-orders for the i8 exceeded 24,000 within just five hours after the pre-sale began at 10:00 AM Hong Kong time. This represents approximately 50 orders per store.
The momentum is expected to continue over the weekend as the model arrives in stores on Saturday. Since the pre-orders are refundable, analysts anticipate a 30-50% conversion rate after the official launch, with potential upside depending on the final pricing and competitive specifications.
Morgan Stanley (NYSE:MS) noted that Li Auto’s share price is likely to rise ahead of the i8 launch. The firm believes the market expectation of approximately 5,000 monthly units for the i8 at steady state appears achievable based on the strong pre-order momentum observed.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.