Daily Archive: March 28, 2023

Lucid Air OTA update helped narrow recall pool for part defect

2022 Lucid Air Grand TouringLucid has used an over-the-air (OTA) update to its flagship Air electric sedans to figure out which vehicles are affected by a recall issue, the company reported in documents filed with the federal government and posted earlier this week. The recall of an estimated 259 Lucid Air luxury EVs from model years 2022 and 2023 involves replacement of...

BYD’s Q4 net profit up over 10 times year-on-year to $1.06 billion

's net profit for the full year 2022 was up 445.86 percent year-on-year to RMB 16.6 billion.

BYD (OTCMKTS: BYDDY) reported a more than 10-fold year-on-year increase in net profit in the fourth quarter, as its new energy vehicle (NEV) sales grew significantly.

The largest Chinese maker of NEVs reported net income attributable to shareholders of RMB 7.3 billion ($1.06 billion) in the fourth quarter, up 1114.29 percent year-on-year and up 27.89 percent from the third quarter.

BYD's revenue in the fourth quarter was RMB 156.4 billion, up 120.39 percent year-on-year and 33.56 percent from the third quarter, according to its financial report released today.

In the fourth quarter, BYD sold 683,440 NEVs, up 156.74 percent year-on-year and 26.87 percent from the third quarter, according to its previously announced data.

On January 30, BYD said in an earnings preview that it expects full-year 2022 net profit of RMB 16 billion to RMB 17 billion. This means that the company then expected a net profit of RMB 6.7 billion to RMB 7.7 billion for the fourth quarter.

For the full year 2022, BYD's revenue was RMB 424 billion, up 96.20 percent year-on-year, according to its financial report announced today.

Its net profit attributable to shareholders in 2022 was RMB 16.6 billion, up 445.86 percent year-on-year.

The company's basic earnings per share in 2022 will be RMB 5.71, up 438.68 percent year-on-year.

BYD's main business includes NEVs, cell phone components, secondary rechargeable batteries and photovoltaic business, with the automotive business contributing RMB 324.7 billion, or 76.6 percent, of revenue in 2022. The business saw a 151.78 percent year-on-year growth in 2022.

Its cell phone parts, assembly and other products business generated revenues of about RMB 98.8 billion, up 14.3 percent year-on-year, contributing 23.3 percent of total revenue.

($1 = RMB 6.8765)

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Smart teases Smart #3, releases official ‘spy shots’

Smart has released a set of spy photos of the Smart #3 on Weibo, with text suggesting that the model will have sporty features.

(Image credit: Smart)

Smart Automobile, the joint venture between and Mercedes-Benz, is starting to warm up for its second model, which may not be far from being unveiled.

Smart China posted a set of spy photos of the Smart #3 on Weibo yesterday, with text suggesting that the model will have sporty features.

Smart didn't mention any other information, but some local media reports say the Smart #3 is expected to be unveiled at next month's Shanghai auto show and will go on sale in China by the end of the year.

The model entered a catalog published by the Chinese Ministry of Industry and Information Technology in November 2022, showing it as a small SUV with a length, width and height of 4,400/4,542 mm, 1,844 mm and 1,556 mm, respectively, and a wheelbase of 2,785 mm.

For reference, the Smart #1, the first production model after the electrification of the Smart brand, measures 4,270 mm in length, 1,822 mm in width and 1,636 mm in height, and has a wheelbase of 2,750 mm.

This means that the Smart #3 will be longer and wider than the Smart #1, but lower.

The Smart #3 has a peak motor power of 200 kW in the single-motor version and 115 kW and 200 kW in the dual-motor version for the front and rear motors, respectively.

The vehicle has a top speed of 180 km/h. It will be powered by ternary lithium batteries, and suppliers include CALB and Sunwoda, its regulatory information shows.

The Smart #1 went on sale in China on April 25, 2022, and deliveries started on September 24.

The model was designed by Mercedes-Benz, with the Smart R&D team leading engineering development, and is based on Geely's SEA (Sustainable Experience Architecture) architecture.

The Smart #1 is currently priced in China in the range of RMB 179,000 ($26,030) - RMB 24,5000.

Smart delivered 3,616 vehicles in February and a total of 15,998 vehicles since last September, according to data monitored by CnEVPost.

($1 = RMB 6.8760)

Regulatory filing: Smart's second EV, Smart #3, coming soon

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