Nio on Saturday revealed its second fully electric premium sedan model ET5 to reach a larger customer base.
L9 will be the second production model from Li Auto and the Chinese EV maker appears to be confident that it becoming a hit.
There might be greater supply than demand in the Chinese EV market this year, UBS analyst Paul Gong said.
Li Auto is the latest US-listed Chinese tech firm seeking a dual listing in Hong Kong. Its Hong Kong debut met with a lukewarm response.