HK Stock Market Move | LI AUTO (02015) fell by nearly 3%, the company responded to the controversy surrounding the collision of the i8 with heavy trucks, with institutions stating that the i8 configuration is different from what consumers expected.

LI AUTO-W (02015) fell nearly 3%, as of the press time, down 2.79%, reporting 100.9 Hong Kong dollars, with a turnover of 20.53 billion Hong Kong dollars. On the news front, on the evening of July 29, Li Xiang Automobile officially released its first pure electric SUV, the Li Xiang i8. It is worth noting that the final official price of the Li Xiang i8 is set at 321,800 to 369,800 yuan, with a total of 3 configuration models. This price is lower than the previously announced pre-sale price range of 350,000 to 400,000 yuan. BOCOM INTL believes that although the pricing of the i8 is better than expected, there may be discrepancies in consumer expectations in terms of configuration. The launch of several six-seater SUVs priced at around 300,000 yuan in the second half of the year may intensify competition in the existing market. In addition, the "heavy truck crash test" at the Li Xiang i8 launch event that day sparked controversy. It is reported that in the test video, the Li Xiang i8 performed well in all indicators, but the heavy truck lifted all four wheels off the ground, the driver's cab and the rear cargo compartment were clearly separated, the driver's cab flipped up and almost pressed to the front windshield position of the Li Xiang i8. In response, Li Xiang Automobile stated that the super test of the Li Xiang i8 and the truck collision was based on the simulation of real traffic collision scenarios, fully entrusted to a professional third-party testing and certification organization, and the test site, testing equipment, and the testing truck randomly purchased at the market end were all provided by the testing organization and not specified.