JP Morgan: LI AUTO (02015) i8 pricing is a positive surprise, reiterates "overweight" rating.

J.P. Morgan released a research report stating that LI AUTO-W (02015) has launched its long-awaited electric sports utility vehicle (SUV) i8, with a price range of 321,800 to 369,800 yuan. The bank believes that the pricing is a positive surprise, as it is 8% lower than the announced pre-sale price. The base price of the i8 is the same as the L8 extended-range electric vehicle, but the high-end version is about 10,000 yuan higher than the L8. The bank reiterated its positive view on LI AUTO's outlook and expects strong performance in the second half of the year, and reaffirmed its "overweight" rating on LI AUTO with a target price of 135 Hong Kong dollars.