world
China's Li Auto Signs Distribution Deals in UAE and Saudi Arabia for Middle East Expansion
Li Auto, a Beijing-based electric vehicle maker, signed agreements with distributors in the United Arab Emirates and Saudi Arabia on Saturday to expand its premium SUVs into the Middle East. The company also targets Asia-Pacific markets, expecting overseas deliveries to reach 30 percent of total by 2030. This move positions Li Auto to compete with luxury brands like BMW, Mercedes-Benz and Audi.
insidermonkey.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Li Auto signed distribution agreements with Al Fahim Motors in the United Arab Emirates and with Mohamed Yousuf Naghi Motors in Saudi Arabia on Saturday, marking its push into the Middle East market. The Beijing-based electric vehicle maker, known for its large SUVs that use extended-range battery technology, is targeting the Middle East and Asia-Pacific markets as it builds a sales network abroad.
Li Auto expects overseas deliveries to account for 30 per cent of its total by 2030, according to its president, Ma Donghui.
“It is inevitable that we will compete against BMW, Benz and Audi, which are viewed as luxury marques worldwide,” Ma Donghui said in an interview on Saturday. “Our vehicles have outperformed theirs in terms of performance and user experience, but it takes time to establish brand awareness because overseas consumers haven’t experienced our cars and haven’t yet been convinced of our superiority,” Ma Donghui added in the same interview.
Li Auto announced plans to expand into Asia-Pacific markets in May, forming partnerships with distributors in Cambodia, Laos and Macau.
Li Auto is one of Tesla’s major rivals in mainland China.
