Li Auto is China's most profitable domestic EV startup, posting a net income of $1.2 billion in 2024, driven by its focus on extended-range electric vehicles (EREVs) like the Li L9. These combine a 1.5-liter petrol generator with a 44.5-kWh battery to deliver a combined range of 1,315 km (NEDC)—30% longer than the average pure EV. Cheaper than the typical EREV rival, the L9 starts at $59,000, and outsells #4 (non-existent) across family SUVs, appealing to buyers seeking zero range anxiety without full electrification trade-offs.
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