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Li Auto to hold Power Day on October 20 to share latest EV tech advances

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Li Auto to hold Power Day on October 20 to share latest EV tech advances

Li Auto (NASDAQ: LI) will hold its Power Day EV technology event on October 20 to share its latest research and development advances as the Chinese automaker expands the use of in-house batteries across its lineup.

The company announced on Monday that the event will begin at 7:30 pm Beijing Time on Tuesday. It has yet to disclose the specific technologies or performance metrics it will present.

Li Xiang, Li Auto's founder, chairman and CEO, said on Weibo today that automakers' deeper research into core battery technologies benefits both the industry and consumers, stressing that in-house development can coexist with supplier partnerships.

Li said the company decided in 2020 to develop batteries in-house to advance technology alongside specialist partners, guided by vehicle requirements and user needs. Its existing battery suppliers remain partners, he said.

"What we do ourselves and what we do with partners are choices that vary at different stages. There is only 1 criterion: which approach is better for users," he wrote on Weibo.

Citing the personal computer industry, he said both integrated hardware and software development by device makers and continued innovation by specialist chip and operating system suppliers can improve the user experience.

The remarks build on Li's recent explanations of the company's in-house development strategy. On September 28, he said Li Auto would not define that strategy around cutting out particular suppliers, and thanked CATL (HKEX: 3750) for its support in jointly developing batteries for the Li One and Li Mega.

Li said at the time that Li Auto aims to integrate battery cells, packs, battery management systems (BMS), thermal management, electric drive systems and vehicle controls to improve safety, performance and life cycle.


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