Q1: What is the current production capacity? Affected by the shortage of semiconductors, when can it return to the normal level?
Kevin Shen (President): The impact of the current semiconductor shortage is industry-wide. Li Auto’s Changzhou factory is now working 2 shifts, reaching a daily production capacity of 500+. With the production of the new Li ONE and the influence of chip shortage, the production capacity has not reached the ideal level. The monthly production capacity is expected to reach 10,000+ in September this year.
Q2: What is the difference between the old and new Li ONE in terms of gross profit?
In the long run, the gross profit margin of the new model will be the same as the current Li ONE. In Q2, there will be promotion in April and May for the current Li ONE, and the new model, which is RMB 10,000 more expensive than the current one, will also be on sale.### Q3: 关于零售店数量：去年年底有52家店，今年4月有73家店。今年能否达成200家的目标？
在2021年第一季度，受春节假期和中国北方COVID-19疫情影响，建设速度放缓。但目前，理想汽车正在建设50家零售店。今年200家零售店的目标保持不变，我们将在下半年赶上进度。
Q4: 关于定价：理想 ONE 的策略与竞争对手不同，这是否意味着理想汽车未来的目标是高端市场？
我们相信，价格基于用户对产品价值认知。增加1万元人民币的售价是合理的，新的理想 ONE 更具市场竞争力。
Q5: 为什么选择 Horizon 作为芯片供应商？### Q6: Any new function of Li Auto’s ADAS in the next two to three years?
Kai Wang (CTO): Regarding Li Auto’s ADAS, we plan to expand the coverage of HD maps in Q4 of this year, and increase processing capacity next year. Our goal is to achieve L4 gradually.
Q7: NOA comes as a standard and free-of-charge feature, but does the RMB 10,000 increase in the price of the new model cover the R&D expenses for NOA?### Q8: What is the role of Hongjing Drive in R&D? Does it mean that Li Auto’s ADAS is fully self-developed, but Hongjing participated in the process as well?
Kai Wang (CTO): Hongjing Drive is a Tier 1 hardware provider for Li Auto. Currently, Li Auto has 300 people in the ADAS team responsible for software and hardware R&D. For the hardware part, Hongjing Drive participated in the design and collaboration to improve overall efficiency.
Q9: Mobileye EyeQ4, Horizon Journey 3, NVIDIA Orin, can different systems be seamlessly used?
Kai Wang (CTO): Li Auto insists on full-stack self-development to ensure that the same effect can be achieved on different platforms.### Q10: 今年的上海国际车展上展出了很多电动车型。这对荔电高压纯电平台“鲸鱼”和“鲨鱼”的2023年发展计划有影响吗？
Kevin Shen（总裁）：荔电想再次强调，电动车的充电方案是关键。荔电将按照原计划开发“鲸鱼”和“鲨鱼”平台和充电方案，不会改变。当然，如果有更多资源，研发进度会加快。现在我们会坚持原计划。
A10:
There were many electric models exhibited in this year’s Auto Shanghai. Does this have any impact on the development plan of Li Auto’s high-voltage pure electric platforms, Whale and Shark, in 2023?
Kevin Shen (President): Li Auto would like to reiterate that the charging solution is the key to BEV. Li Auto will develop Whale and Shark platforms and the charging solution according to the original plan, it will not change. Of course, if there are more resources, the R&D progress will be accelerated. Right now we’ll stick to the original plan.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.