• Li Auto decided to adjust the announcement date of the Li i8 after learning that the launch of the Xiaomi SU7 Ultra is scheduled for February 27.

• Li Auto CEO said the decision was made to thank Xiaomi's Lei Jun for helping the company in the past, as well as to avoid public misunderstanding.

Li i8. Image credit: Li Auto

Li Auto (NASDAQ: LI) had originally planned to announce its first all-electric SUV (sport utility vehicle), the Li i8, 2 days later, but moved the date up to today because of Xiaomi (HKG: 1810, OTCMKTS: XIACY), the automaker's CEO said.

Earlier today, Li Auto revealed the Li i8, a model that has quickly become one of the trending topics on Chinese social media, driving Li Auto's Hong Kong-traded shares up more than 10 percent so far.

"As previously planned, the Li i8 would be officially accounced on February 27," Li Xiang, Li Auto's founder, chairman and CEO, said on Weibo today.

Li said his company decided to adjust the announcement date of the Li i8 after learning that the launch of Xiaomi's two Ultra products -- the Xiaomi 15 Ultra smartphone and the Xiaomi SU7 Ultra EV -- were scheduled for February 27.

The decision was made after communication between Li Auto and Xiaomi to thank Xiaomi's founder, chairman, and CEO Lei Jun for helping the company in the past, as well as to avoid public misunderstanding, Li said.

"Friendly communication between car companies is so important!" Li wrote on Weibo and wished the Xiaomi 15 Ultra smartphone and Xiaomi SU7 Ultra hot sales.

Xiaomi's Lei then replied to Li's Weibo, thanking him and wishing hot sales for the Li i8.

Li Auto is one of the major extended-range electric vehicle (EREV) players in China and currently sells mainly L-series extended-range electric vehicles (EREVs), including the Li L6, Li L7, Li L8, and Li L9, all of which are SUVs.

On March 1, 2024, the Li Mega MPV (multi-purpose vehicle) was launched, the first battery electric vehicle (BEV) from Li Auto.

Following Li Auto's announcement of the Li i8, Li said in a Weibo post that the “L” in the name of Li Auto's EREVs stands for “Leading” and the “i” in the name of the all-electric SUVs stands for “intelligence”.

The Weibo is Li's first since January 7. The previously outspoken Li Auto CEO had significantly reduced his social media activity after the Li Mega's sales performance fell short of expectations.

Xiaomi's car-making arm, Xiaomi EV, announced on February 24 that the SU7 Ultra will be launched on February 27, with an event set to begin at 7 pm Beijing time on the same day.

The SU7 Ultra -- the ultra-performance variant of Xiaomi's first electric model, the SU7 -- was unveiled and went on pre-sales for RMB 814,900 ($112,220) on October 29 last year.

The Xiaomi 15 Ultra smartphone and Xiaomi SU7 Ultra are two of the most high-end products in Xiaomi's fifteen-year history, Lei wrote on February 24 on Weibo.

($1 = RMB 7.2617)