Li Auto signs partnership deal to boost charging facility buildout

A sufficient number of self-operated supercharging piles are necessary to sell all-electric SUVs, Li Auto management previously said.

Li Auto (NASDAQ: LI) has entered into a partnership agreement to boost its aggressive charging infrastructure buildout plan.

On June 18, Li Auto signed a partnership agreement with PetroChina Kunlun Wanglian Electric Energy Technology Co Ltd at its R&D headquarters in Beijing, the carmaker announced today.

The two companies will work together to promote the construction of charging infrastructure along highways and within cities nationwide, as well as the interconnection of their charging platforms, Li Auto said.

The companies will also promote cooperation in the areas of owner services, leisure consumption, home charging pile services, and research programs, according to the company.

PetroChina Kunlun, previously known as Putian New Energy, was one of the first state-owned enterprises to start building charging facilities in China.

In September 2023, PetroChina announced the acquisition of 100 percent of Putian’s equity. In April this year, Putian was renamed PetroChina Kunlun.

After its first battery electric vehicle (BEV) model, the Li Mega MPV (multi-purpose vehicle), suffered poor initial acceptance, Li Auto is banking on aggressive infrastructure development to pave the way for more BEV launches to follow.

Li Auto’s current main sellers are the L-series extended-range electric vehicle (EREV) models, including the Li L6, Li L7, Li L8, and Li L9.

On May 20, Li Auto management said on an earnings call that the company’s three additional BEV models, originally planned for the second half of this year, would be delayed until the first half of next year.

A sufficient number of self-operated superchargers are necessary to sell all-electric SUVs at this stage, Li Auto management said at the time.

A similar number of self-operated superchargers as Tesla China would be the right time to bring Li Auto’s all-electric products to market, its management said.

Li Auto plans to have 2,000 supercharging stations in China by the end of 2024, providing more than 10,000 charging piles and covering 90 percent of the core urban areas of China’s Tier 1, 2 and 3 cities, according to previously announced plans.

As of June 16, Li Auto had 448 supercharging stations in China, offering 2,016 charging piles and covering 135 cities, according to data compiled by CnEVPost.

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