(Yicai Global) March 14 -- Chinese electric car startup Li Auto, which is resisting entering the current price war in China’s auto market, has said that it will refund buyers the difference in price should they find a better price for the same model of car within 90 days of purchase, online news outlet The Paper reported.

Li Autos’ L7, L8 and L9 models are eligible for the guarantee, which is a way of demonstrating to customers that the Beijing-based auto manufacturer will not be reducing its prices any time soon, the report said. No further details were given.

Founder and Chief Executive Officer Li Xiang said earlier this month that he will not adopt a price-cut strategy.

This goes against the current trend in the auto market as more than 30 car brands, including BYD, Germany's BMW and Japan's Honda, have been slashing prices recently to remain competitive and reduce inventory.

Last month, Li Auto was the best-selling electric car startup in China delivering 16,600 units, nearly double from a year earlier.

Editor: Kim Taylor