The designation Li P.01-116 was used several different times by the Lippisch design team. The first was shortly after Lippisch arrived at the Messerschmitt in Augsburg. First concieved as a jet-powered interceptor on April 12, 1939, it was designed around the first available data for a turbojet engine. A short fuselage held the unnamed jet engine and fuel, and the wings were wide and mounted mid-fuselage. Since this was a tailless design, only a single fin and rudder was used. The pilot sat in the cockpit located in the forward section of the fuselage, and landing was acoomplished via a skid built into the bottom of the aircraft. No armament was chosen at this stage in the Li P.01-116's development.