Ford says it plans to bring the heat in its battle for EV dominance with Tesla while Cupra is said to be eyeing the US market.
Daily Archive: March 27, 2023
Electric Vehicle Range Anxiety: How Much Of A Problem Is It? How To Deal With It
Most people considering an electric vehicle are most worried about running out of charge and being stranded. They are also worried about where they can charge on long trips, how long charging takes, and how much will it slow them down on those cross-country trips. Most EV owners do 95% of their charging at home […]
Chery’s NEV unit cuts vehicle prices by up to 10%
In January-February, Chery's NEV sales were 13,293 units, down 57.6 percent from 31,367 units in the same period last year.
(Image credit: Chery New Energy)
Chinese auto giant Chery's new energy vehicle (NEV) division has slashed the prices of several models, becoming the latest car company to do so.
Chery New Energy announced today that official guide prices for three of its NEV models has been cut by up to 9,000 yuan ($1,310) starting at 00:00 on March 27.
The reduction covers the QQ Ice Cream, Little Ant and Wujie Pro, with the Little Ant's 408km range seeing an RMB 9,000, or 8.74 percent, price cut.
The QQ Ice Cream priced at RMB 39,900 saw a price reduction of RMB 4,000, or 10 percent.
Following this reduction, the QQ Ice Cream's latest starting price range is RMB 35,900 to RMB 45,900, the Little Ant is RMB 64,999 to RMB 94,000, and the Wujie Pro is RMB 84,900 to RMB 110,900.
This is due to the global price correction of new energy materials and the company's cost control and supply chain management capabilities, Chery New Energy said in an announcement.
The price of lithium carbonate, a key raw material for batteries, has fallen sharply in the past few months, with the current price having dropped about 50 percent from its high point last November.
As of March 24, the average price of battery-grade lithium carbonate in China was RMB 277,500 per ton and industrial-grade lithium carbonate was RMB 235,000 per ton, according to data from Mysteel monitored by CnEVPost.
While Chery New Energy attributed the price cuts to lower raw material prices, the recent price war in the Chinese auto industry and its weak performance so far this year may be the bigger reasons.
After Tesla cut prices earlier in the year, several NEV makers followed suit. Earlier this month, multiple traditional internal combustion engine automakers launched price wars with steep discounts.
These moves have increased the consumer's wait-and-see attitude toward car purchases and disrupted the industry, and last week, the China Association of Automobile Manufacturers (CAAM) called on all parties to help return the industry to normalcy.
For Chery, its performance at the beginning of the year was weak.
In January-February, Chery's NEV sales were 13,293 units, down 57.6 percent from 31,367 units a year earlier, according to data from the China Passenger Car Association (CPCA) monitored by CnEVPost.
($1 = RMB 6.8819)
CAAM calls for return to normal order in China's auto industry as price war disrupts sector
| Model | Version | Previous Price (RMB) | Latest Price | Change | Change % |
|---|---|---|---|---|---|
| QQ Ice Cream | 120 km Milkshake | 39,900 | 35,900 | -4,000 | -10.03% |
| QQ Ice Cream | 120 km Cone | 43,900 | 39,900 | -4,000 | -9.11% |
| QQ Ice Cream | 170 km Sundae | 49,900 | 45,900 | -4000 | -8.02% |
| Little Ant | 251 km Hot Love | 69,999 | 64,999 | -5,000 | -7.14% |
| Little Ant | 301 km True Love Plus | 82,999 | 77,999 | -5,000 | -6.02% |
| Little Ant | 301 km Half Sugar | 82,900 | 76,900 | -6000 | -7.24% |
| Little Ant | 408 km Full Sugar | 103,000 | 94,000 | -9,000 | -8.74% |
| Wujie Pro | 301 km Moshou | 89,900 | 84,900 | -5,000 | -5.56% |
| Wujie Pro | 301 km Lingshou | 94,900 | 89,900 | -5,000 | -5.27% |
| Wujie Pro | 301 km Shenshou | 99,900 | 94,900 | -5000 | -5.01% |
| Wujie Pro | 408 km Moshou | 105,900 | 100,900 | -5,000 | -4.72% |
| Wujie Pro | 408 km Shenshou | 115,900 | 110,900 | -5,000 | -4.31% |
The post Chery's NEV unit cuts vehicle prices by up to 10% appeared first on CnEVPost.
For more articles, please visit CnEVPost.
LiDAR-maker Hesai to set up software R&D headquarters in Chongqing
Hesai shipped 80,462 LiDAR units for the full year 2022, up 467.5 percent year-on-year. | Hesai.US
(Hesai FT120 automotive short-range LiDAR. Image from Hesai prospectus.)
Shanghai-based LiDAR maker Hesai Group (NASDAQ: HSAI) signed an investment agreement with Chongqing Economic Development Zone on March 26 to build a software global R&D headquarters in the southwestern Chinese city, according to a report in Chongqing Daily today.
Hesai is a global leader in LiDARs for autonomous driving and advanced assisted driving, and Chongqing wants it to strengthen its cooperation with local car companies, the report said, citing the city's mayor, Hu Henghua.
Under the agreement, Hesai will build a software global R&D headquarters, set up an innovation incubation center and create a LiDAR industrial park in Chongqing's Economic Development Zone, the report said, without providing further details.
Founded in Shanghai in late 2014, Hesai initially focused on developing high-performance laser sensors and has been exploring driverless LiDAR products since 2016.
On February 9, the company made its NASDAQ debut, becoming the first Chinese LiDAR manufacturing company to list in the US.
Hesai shipped 47,515 LiDAR units in the fourth quarter, up 739.2 percent from 5,662 units in the same period in 2021, it said in its earnings report on March 16.
It shipped 43,351 ADAS LiDAR units in the fourth quarter, compared to 87 units in the same period in 2021.
The company shipped 80,462 LiDAR units in the full year 2022, up 467.5 percent year-on-year.
LiDAR-maker Hesai posts Q4 revenue growth of 56.6% YoY in 1st earnings report since US IPO
The post LiDAR-maker Hesai to set up software R&D headquarters in Chongqing appeared first on CnEVPost.
For more articles, please visit CnEVPost.
EV Shopping & My First EV
Here's a good recent view of EV shopping and the writer's initial impressions of his first EV. Article by Mihai Beffa in Cupertino, California.
