It's been another week of price cuts for new energy vehicles.

Following Tesla's announcement of price reductions in China over the weekend, Li Auto also launched a price-cutting wave for its entire product lineup on April 22nd. Not only have the prices of the Li Auto L7, L8, and L9 been adjusted, but even the newly released and controversial Li Auto MEGA has joined the ranks of the price cuts.

Specifically, for the 2024 Li Auto L7, the Pro, Max, and Ultra versions, the prices before the adjustment were 319,800 yuan, 349,800 yuan, and 379,800 yuan respectively; after the adjustment, the prices are 301,800 yuan, 329,800 yuan, and 359,800 yuan respectively. Among them, the Pro version has been reduced by 18,000 yuan, the Max version by 20,000 yuan, and the Ultra version by 20,000 yuan.

For the 2024 Li Auto L8, the Pro, Max, and Ultra versions, the prices before the adjustment were 339,800 yuan, 369,800 yuan, and 399,800 yuan respectively; after the adjustment, the prices are 321,800 yuan, 349,800 yuan, and 379,800 yuan respectively. Among them, the Pro version has been reduced by 18,000 yuan, the Max version by 20,000 yuan, and the Ultra version by 20,000 yuan.

For the 2024 Li Auto L9, the Pro and Ultra versions, the prices before the adjustment were 429,800 yuan and 459,800 yuan respectively; after the adjustment, the prices are 409,800 yuan and 439,800 yuan respectively. Among them, the Pro version has been reduced by 20,000 yuan, and the Ultra version by 20,000 yuan.

Additionally, for the 2024 Li Auto MEGA model, the price before the adjustment was 559,800 yuan, and after the adjustment, it is 529,800 yuan, a reduction of 30,000 yuan.

It is worth noting that on May 25, 2021, Li Auto released the 2021 Li Auto ONE with a comprehensive upgrade of hardware and software, and the price was only 10,000 yuan higher than before the upgrade. Many owners who had just picked up their vehicles a month ago expressed that they felt "stabbed in the back" and were "very hurt."

Therefore, Li Auto has fully absorbed the lessons from the previous "stabbing" of old car owners. The official announcement states that for this price reduction activity, Li Auto will provide cash refunds to owners who have already purchased the 2024 Li Auto L7, L8, L9, and MEGA models. Some MEGA car owners have already received notifications for cash refunds.

Affected by the news, Li Auto's stock price fell by 5.83% at the beginning of the trading day, once piercing through the 100 Hong Kong dollar mark, and the decline has now slightly narrowed.

Over the weekend, the global new energy giant Tesla also announced price cuts in the Chinese market.

Among them, the price of the Model 3 refreshed version was reduced to 231,900 yuan, a decrease of 5.7%; the price of the Model 3 Long Range refreshed version was reduced to 271,900 yuan, a decrease of 4.9%. The Model Y price was reduced to 249,900 yuan, a decrease of 5.3%; the Model Y Long Range version was reduced to 290,900 yuan, a decrease of 4.6%; the Model Y Performance version was reduced to 354,900 yuan, a decrease of 3.8%. The Model S price was reduced to 684,900 yuan, and the Model S Plaid version was reduced to 814,900 yuan. The Model X price was reduced to 724,900 yuan, and the Model X Plaid version was reduced to 824,900 yuan.

Analysts say that the purpose of Tesla's current round of price cuts and layoffs is to reduce costs and increase efficiency while occupying a larger market share: "The early situation where Tesla dominated alone has changed, and there is an oversupply of products." Price cuts are a normal measure to cope with market competition.