What's the story Chinese electric vehicle (EV) manufacturer, Li Auto, has launched a new six-seat fully-electric SUV, called Li i8. The vehicle is priced between ¥321,800 and ¥369,800 (approximately $44,900 to $52,400) and boasts a range of up to 720km on a single charge. The launch comes as part of Li Auto's strategy to take on US rival Tesla in China's competitive automotive market. Features The vehicle features advanced autonomous driving tech and digital cockpit The new SUV isn't just an ordinary vehicle. It comes with advanced autonomous driving tech and a digital cockpit. The dual-chamber Li Magic Carpet air suspension provides four adjustable height settings, contributing to its robust off-road performance. The vehicle also features custom refrigerators and plush sofa-like seats to enhance passenger comfort. "Li Auto wants to make itself distinct from other carmakers," said founder and CEO Li Xiang during the launch event. "We envision building a mobile home for our clients." Market strategy