The YangWang U8 was detailed in China. It appeared to be significantly longer than the Mercedes-Benz G-Class
The post BYD YangWang U8 dimensions unveiled. It is 502 mm longer than the G-Class appeared first on CarNewsChina.com.
Daily Archive: March 28, 2023
2025 Porsche Boxster EV Prototypes Spotted At Tesla Supercharger
No fewer than four all-electric Boxster mules were spied during cold weather testing.
2024 Kia EV9 Full Reveal Is Today: See The Livestream Right Here
The livestream starts at 5 PM EDT / 9 PM GMT and will feature a GT-Line version.
2024 Kia EV9 Full Reveal Is Today: See The Livestream Right Here
The livestream starts at 5 PM EDT / 9 PM GMT and will feature a GT-Line version.
First 27 VinFast VF9s Delivered To Vietnamese Customers
Fulfilling a promise made last year, VinFast has now delivered the first units of the all-electric VF9s SUV to 27 customers in Hanoi, Ho Chi Min, and Da Nang cities. Ceremonies were held at malls and showrooms for the turnover, led by VinFast executives in the cities mentioned. “Today’s VF9 delivery event is the beginning […]
Tesla Cybertruck Spotted Without Its Massive Windscreen Wiper
The prototype was photographed near the company’s California headquarters.
Leapmotor surges about 20% to near-record high in Hong Kong
Analysts expect Leapmotor's sales to start improving gradually in the second quarter, meeting the company's guidance of selling more than 30,000 units in the quarter. | Leapmotor HK
Chinese electric vehicle startup Leapmotor surged on the Hong Kong stock market today, recovering almost all of its losses since going public.
Leapmotor rose as much as about 20 percent today to HK$39.2 a share, close to its highest price of HK$41 on the day it went public last September 29.
As of press time, that gain has eased back to about 16 percent, with a cumulative gain of about 27 percent so far this month.
There are no immediate factors driving the company's share price surge, though some recent developments are worth noting.
On March 21, Leapmotor released its annual results for 2022, showing it achieved revenue of RMB 12.38 billion ($1.8 billion) last year, up 295.4 percent year-on-year.
The company reported revenue of RMB 3.015 billion in the fourth quarter, up 116.16 percent year-on-year.
Leapmotor's deliveries in 2022 were 111,168 units, up 154 percent year-on-year. Of the total, 23,566 units were delivered in the fourth quarter, up 37.9 percent year-on-year.
The company's management said at the time that Leapmotor was targeting 200,000 unit sales in 2023, nearly doubling from 2022.
The effect of Leapmotor's price cut in March was affected by the price war in the Chinese auto industry, but the new orders will still start to pull full-year sales back up in the second quarter, said CITIC Securities analyst Yin Xinchi's team in a March 23 research note.
While sales are climbing, Leapmotor can keep its gross losses manageable and gradually narrow to near break-even through a series of cost-cutting measures and scale effects, the team said.
Leapmotor's gross margin in 2022 was -15.4 percent, better than the -44.3 percent in 2021. It had a gross margin of -6.9 percent in the fourth quarter.
The large improvement in both Leapmotor's revenue and gross margin in 2022 was mainly due to the growth in sales of the C series models and the obvious scale effect, the team said, adding that the company's average selling price of its products has increased with the product mix adjustment.
With the improvement of the sales network, overseas market expansion, and the application of new R&D results, Leapmotor's sales and profits are expected to further improve, Yin's team said.
The team expects Leapmotor's sales to start improving gradually in the second quarter, meeting the company's guidance of more than 30,000 units sold in the second quarter and revenue growth of more than 50 percent year-on-year.
In the third quarter, deliveries of the more profitable C01 extended-range electric vehicle (EREV) will begin, which is expected to further boost the company's sales and drive gross profit closer to break-even, the team said.
Leapmotor delivered 3,198 units in February, up 180.77 percent from 1,139 units in January and down 6.9 percent from 3,435 units in the same month last year, according to data released by the company on March 1.
Along with the delivery figures, Leapmotor announced the official launch of the C11 EREV, a rare shift back to internal combustion engines among Chinese electric vehicle startups.
($1 = RMB 6.8835)
Leapmotor delivers 3,198 vehicles in Feb, officially launches EREV model
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Elon Musk vs. Index Funds: Who Owns More Tesla Stock?
Elon Musk spent much of last year selling off Tesla stock, though he remains the company’s largest individual stakeholder. However, despite a disdain for index funds and passive investing, some of those firms now make up a large portion of Tesla’s shares. Musk now owns fewer Tesla shares than the market’s three largest index funds […]
NIO’s 3rd-gen swap station makes real-life debut as mass production nears
Starting in June, NIO will basically keep building 120-150 battery swap stations per month, William Li previously said. | NIO US | NIO HK | NIO SG
(Image credit: NIO)
NIO (NYSE: NIO) today gave its third-generation battery swap station its real-life debut in a test run, though it didn't go live as previously teased.
The next-generation station made its debut today next to a hotel in Haikou, in China's southernmost province of Hainan.
Executives including William Li, founder, chairman and CEO of NIO, and Shen Fei, senior vice president of NIO Power, were present for the introduction of the trial run.
(A screenshot of a live video shows NIO CEO William Li introducing the company's third-generation battery swap station in Haikou.)
NIO's third-generation battery swap station, unveiled at the NIO Day 2022 event on December 24, 2022, is capable of storing up to 21 battery packs, up from 13 for its predecessor generation and 5 for the first generation of the facility.
The latest facility increases the daily service capacity of a single station to 408, a 30 percent increase over the second generation.
Notably, some of NIO's third-generation battery swap stations will be equipped with two LiDARs and two Nvidia Orin chips, for a total computing power of 508 TOPS.
NIO announced plans to add 400 battery swap stations in 2023 late last year, but that plan was raised to 1,000 a month ago.
Li said on February 21 that the company will further accelerate the deployment of battery swap stations, aiming to have a cumulative total of more than 2,300 battery swap stations by the end of 2023.
Production of NIO's third-generation battery swap stations was well underway, with mass production expected to begin in April and deployment accelerating in May, Li said at the time.
Starting in June, NIO will basically maintain a construction rate of 120-150 battery swap stations per month, he said.
On March 20, NIO said in an article posted on the NIO App that the first 10 third-generation battery swap stations would go live on March 28.
However, this has not become a reality, and NIO's current plans appear to be consistent with the previous schedule.
NIO has already built some third-generation battery swap stations in cities including Beijing and Shanghai, although they have not yet been officially put into operation.
On March 23, CnEVPost visited NIO's delivery center in Jiading, Shanghai, where there is a third-generation battery swap station with the same exterior design as the previous two generations. The delivery center, NIO's largest in the world, opened on January 1.
(A third-generation battery swap station at NIO's delivery center in Nanxiang, Jiading, Shanghai. Image credit: CnEVPost)
Of the 1,000 battery swap stations NIO plans to add in 2023, about 900 will be third-generation facilities, NIO Power's Shen said at a media event last week.
The cost of equipment for NIO's three generations of battery swap stations is not very different, but the average cost per battery compartment has dropped significantly as service capacity has increased, Shen said at the time.
To date, the number of spare batteries in all of NIO's battery swap stations is roughly 11,000 to 12,000, Shen said in response to a question from CnEVPost.
NIO has added only 20 battery swap stations in China so far this year, bringing the total number of facilities to 1,325 so far, according to data monitored by CnEVPost.
The slowdown appears to be because NIO is waiting for the third generation of the facility to ramp up its capacity.
NIO reveals aggressive plan to add 1,000 swap stations in 2023
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Volkswagen’s PowerCo Is Taking Off
Last year, Volkswagen started a new battery production company that would operate under the VW umbrella: PowerCo. Now, in March 2023, several announcements by the company show that it’s actually taking steps to become a serious player in the battery industry. What’s PowerCo? Before I get into the announcements that show Volkswagen’s making a serious […]
