Li Auto’s (NASDAQ: LI) stock climbed nearly 15% on Tuesday after the company revealed the first images of its new electric SUV, the Li i8. The i8 is Li Auto’s first electric SUV, and it’s expected to be a true threat in the world’s largest EV market.

Li Auto reveals its first electric SUV, the Li i8

Li Auto is already one of China’s top-selling new carmakers. Last year, it delivered over 500,500 vehicles, claiming to be “the fastest annual sales of 500,000 units for luxury car brands” in China.

Up until last year, the company sold extended-range electric vehicles (EREVs), which are cars with both an electric motor and a small internal combustion engine that powers the battery when it gets low. EREVs have become one of China’s fastest-growing segments, fueling Li Auto’s growth over the past few years.

The Chinese startup is now expanding its lineup to include all-electric (EV) models. Last March, it launched the Li Mega MPV, its first fully electric vehicle.

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On Tuesday, Li Auto revealed the first official images of its new Li i8 electric SUV. The i8 was previewed alongside the Mega MPV and L9 with the caption “Li’s first pure electric SUV.”

Although it initially planned to launch three electric SUVs in the second half of 2024, Li delayed the rollout as it expanded its supercharger network (like Tesla Superchargers) in China.

You can see the SUV closely follows the design of Li’s other models with a futuristic look, including a lightbar that stretches across the rear and front.

The i8 will join the L6, L7, L8, and L9 in Li Auto’s growing SUV lineup. Li said L6 deliveries reached over 200,000 in January after its seventh straight month as China’s top-selling EREV. At the end of January 2025, Li had 500 retail centers and 1,845 Supercharging Stations (9,820 charging ports) across China.

Li Auto’s stock climbed nearly 15% on Tuesday after the company revealed the new i8 electric SUV. LI shares are up 25% this year, but they are still down over 35% after spiking following its Q1 2024 earnings.

The i8 is expected to be a real challenger to top-selling luxury SUVs in China from BYD, Tesla, XPeng, NIO, and others, including German auto giants BMW, Mercedes-Benz, and Audi.

Tesla’s stock (TSLA) is crashing by as much as 8% today. CEO Elon Musk predicted that the stock would get crushed “like a soufflé being smashed by a sledgehammer” if it didn’t show profit growth, which is what is happening now.

As we reported earlier this month, if Tesla stock doesn’t crash this quarter, Tesla will likely be trading at a 500+ P/E after reporting Q1 2025 earnings. The last time Tesla traded at these levels, Musk warned Tesla employees that the stock would get crushed “like a soufflé being smashed by a sledgehammer” if it didn’t show profit growth.

It looks like the market is finally catching up as Tesla’s stock crashed 8% today:

The automaker’s valuation has now dipped back below $1 trillion.

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Some media are linking the crash to Tesla’s sales in Europe, but it has been clear for weeks that sales are down roughly 50% in the market so far.

On the positive side, Tesla launched a new FSD update in China today. The automaker will likely use that to justify the recognition of some deferred revenue, but it’s not all positive, as the update has been received with mixed reviews.

Electrek’s Take

I think the main factor impacting Tesla’s stock is the anticipation of reduced earnings expectations. Even with today’s 8% crash, Tesla’s stock is still trading at a price-to-earnings ratio of around 150, and that’s with the Bitcoin gain last quarter.

If Tesla doesn’t crash more this quarter, with expected reduced earnings in Q1 due to much lower deliveries, it would likely shoot back up to a P/E of 300+.

In comparison, an automaker like Toyota trades at a P/E of 7, and a technology company like Meta trades at a P/E of 40.

These insane price-to-earnings ratios basically never hold, but they certainly don’t hold when earnings are going down, which is what is happening with Tesla:

As you can see from this chart, the stock seems to only be starting to realize that it’s disconnected from its earnings, and it still has quite a bit of catching up to do.

I never thought I’d find myself cheering for Tesla’s stock to continue crashing, but I feel like it’s the only way to save the company now, as the board and shareholders don’t care about anything else. Tesla’s stock crashing is the only way to get them to care about removing Elon Musk.

I expect the stock to continue to crash in the coming weeks as analysts adjust their delivery expectations and then their earnings expectations for Q1. The consensus appear to still be over 400,000 deliveries in Q1, but it looks like it could be below that.

Shareholders are hoping that Tesla’s planned launch of a robotaxi fleet in Austin in June will turn things around for the stock, but as I previously reported, that’s a “moving of the goal post” strategy by Elon – although it’s likely that large parts of the market don’t realize it.

The Engwe LE20 is an interesting take on the cargo e-bike format. It’s marketed as a budget-friendly utility e-bike that can handle hauling groceries, gear, or even a passenger. At the same time, it looks like a cross between a compact cargo bike and a semi-fat tire hybrid-style bike, with a chunky frame, small wheels, and a long rear rack. But how does it actually perform in the real world? After spending some time riding and testing it, here’s what I found.

For such an interesting low-cost, long-range cargo e-bike, you’ll definitely want to see what it’s like to ride this one.

Check out my video review below for the full experience!

Engwe LE20 Video Review

Engwe LE20 2.0 tech specs

• Motor: 750W geared hub motor in the rear wheel
• Top speed: 45 km/h (28 mph) on pedal assist, 32 km/h (20 mph) on throttle
• Range: Claimed up to 160 km (100 mi) on single battery (or twice that with dual batteries)
• Battery: One or two 48V 19.2Ah (920 Wh) batteries
• Weight: 41.5 kg (91.5 lb)
• Max load: 200 kg (440 lb)
• Brakes: Hydraulic disc brakes on 180 mm rotors
• Extras: Long rear rack, beautiful color LED display, integrated head/tail/brake LED lights with turn signals, fender set, kickstand

Power and performance

The Engwe LE20 is powered by a 750W rear hub motor (peaking at 1,300W), and I have to say, it packs more punch than I expected. With 75Nm of torque, acceleration is smooth but strong, especially when using the throttle. On flat terrain, it easily cruises at 20 mph (32 km/h) on throttle alone, and with pedal assist, it can reach 28 mph (45 km/h).

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One of the things I really liked about the ride was the torque sensor. Many budget e-bikes rely on cheap cadence sensors, and to be fair, Engwe has floated by on cadence sensors in the past. Cadence sensors aren’t bad per se, but the cheaper ones can feel extra laggy and they are often combined with poor controller programming that results in lurching and jumpy acceleration. As a nice change, the LE20’s torque sensor responds quickly to input, giving it a much more natural and intuitive ride feel. It just feels more like you’re riding a bike with strong legs, than that you’re on a jumpy motorbike.

Testing the bike in Florida, I didn’t have much of a chance to do any real hill climbing performance tests, buts with 75 Nm of torque and good power, I have to imagine that it will handle moderate inclines well. For steeper hills though, you’ll usually want to pedal along with hub motor-based electric bikes like these since the motor can’t drop into lower gears like a mid-drive.

Battery for days… and days

The LE20 comes with a 48V 19.2Ah battery, which is quite respectable for a cargo e-bike at this price point. Most cargo e-bikes cost more and have less battery, so Engwe starts strong there. The company claims a 109-mile range, but as with all e-bike range estimates, that’s in the lowest assist setting with ideal conditions. In real-world riding, using a mix of throttle and pedal assist, I would expect the range to be closer to 30-50 miles, which is still solid.

For those who need more range, Engwe offers an optional second battery, which could theoretically double the range. If you’re using this bike for delivery work or long-haul commutes, that second battery might be worth considering.

I tested the dual battery version, and I should point out that unlike most dual battery e-bikes, the Engwe shows the charge level of both batteries on the display. That’s a cool feature and will be important for cases where you might have forgotten to charge one of the batteries. You’ll instantly know it when you see one is nearly full while the other is approaching empty.

The display is also really nice. I’d say it has no businesses being this nice looking on a budget bike, but the colors and layout make it very slick look and easily readable.

Cargo and Utility

The LE20 is certainly designed first and foremost as a cargo e-bike, and while it does have a large rear rack, it’s not quite as robust as traditional long-tail cargo bikes. That said, the 440 lbs (200 kg) payload capacity means it can carry a fair amount, assuming that’s accurate. I always have to wonder a bit, especially when budget companies list the same or higher weight ratings than industry leaders such as Tern, who puts a lot of emphasis on accurate weight ratings. I’m not sure I’d run it with 440 lb of weight on it every day, but perhaps that’s just me being conservative with an admittedly budget-brand electric bike.

The long rear rack does offer some nice space for mounting accessories such as a child safety seat, though I like the passenger deck pads that work just as well for kids and adults. Engwe also sells varioius storage cases and other cargo accessories. Mine didn’t come with footrests, but I think the standard package includes them now.

One major inconvenience that I did NOT like about the cargo design is that the side panels are so massive that they cover every bit of exposed frame rail in the back. That means I’ve got nothing to lash to when I want to carry cargo. I did a mail run and had a couple packages that I needed to carry back with me, and ended up having to secure them to the rack by tying off to the derailleur guard, of all places. Obviously that’s not ideal, and I wish Engwe had left us a bit more frame rail to work with.

You can see my jury-rigged rigging in the video review above. It works, but it’s not ideal from a cargo standpoint.

Ride comfort and handling

For a cargo bike, the LE20 rides pretty well, thanks to its front suspension fork and 20×3.0-inch tires. The smaller wheels make it more maneuverable in tight spaces, but they also make bumps slightly more noticeable compared to a larger-wheel cargo bike. I always prefer smaller wheels on cargo bikes though, since I’ll take the lower center of gravity over the better rolling comfort. And the semi-fat design of the 3-inch tires adds back some comfort to the mix. The cast wheels are also a nice addition, even if they are probably a bit more rigid than spoke wheels, but at least they’re maintenance free and look cool, too!

The step-through frame makes getting on and off the bike easy, especially if you’re carrying cargo. The seat is decently comfortable, and the upright riding position feels natural.

However, at 91.5 lbs (41.5 kg), it’s not a lightweight bike by any stretch of the imagination! You definitely feel that weight when maneuvering it around in a garage or parking, and even when riding around at low speeds.

At higher speeds, you generally don’t notice the extra weight, and of course, one of the benefits of an electric motor is that you don’t have the same weight penalty as a traditional bike. But lordy lord help you if you ever want to lift it onto a bike rack or carry it up a flight of stairs.

Brakes and safety features

Braking is handled by 180 mm hydraulic disc brakes, which offer strong stopping power. Given the weight and speed of this bike, hydraulic brakes are a necessity, and I was happy to see that Engwe didn’t cut corners here.

Another major safety feature is lighting, and the LE20 comes with integrated lights that run off the main battery. This isn’t exactly a technological feat, but some e-bikes still use lights with their own separate batteries, so I’m glad to see we at least make use of that massive e-bike battery for the lighting.

The dual-barrel headlights seem plenty bright as a be-seen light, but don’t expect them to solely light up the path on a moonless night with no street lights. For visibility though, I don’t think cars will miss you.

Final thoughts

For just $1,295 for the base model or $1,595 for the dual battery version, this is a great price for a super long range cargo e-bike.

Yes, it’s got some small issues. I’d probably just remove the rear guards to give me access to frame rails in the rear, though I accept that they’re a safety feature and so I’d rather just seem them a bit smaller. And it’s heavy as all get out. But at this price, you’re getting some serious performance and lots of cargo space.

The nice features like a torque sensor and beautiful display add significant value on what should be an otherwise unremarkable bargain-priced electric bike, so this one actually surprised me in a good way.

I’m not saying there aren’t better options out there, and the Lectric XPedition 2.0 for just an extra $100 has a lot going for it (even if the battery isn’t as big). But for $1,295, the Engwe LE20 is definitely compelling as a long-range cargo e-bike.