Li Auto follows XPEV, Tesla in announcing price hike
Citing a significant increase in upstream raw material prices, Li Auto (NASDAQ:LI) will hike the price of the company's only model currently on sale by RMB 11,800 ($1,853) to RMB 349,800 from the current RMB 338,000.
The price hike will take effect from April 1, 2022, and customers who pay a deposit before then will not be affected.

Several Chinese electric vehicle companies have raised their prices in recent days, all citing price increases in raw materials.
Li Auto's local peer XPeng (NYSE:XPEV) saw its price increases of RMB 10,100 to RMB 20,000 ($3,140) for its models starting March 21.
NIO (NIO) on the other hand, made it clear that it has no plans to raise prices at this time.
Tesla (TSLA) raised China-built vehicles prices by 14,200-20,000 Yuan.
BYD (OTCPK:BYDDF) also hiked prices on rising raw materials costs.