The Zeekr X will be equipped with a 14.6-inch screen that can move to the front passenger. To debut on April 12.
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Monthly Archive: March 2023
G6 will be swing factor for XPeng, says Deutsche Bank
The upcoming G6 will need to be successful to make XPeng to be truly relevant again in the market, said Edison Yu's team. | XPeng US | XPeng HK
(XPeng G6 shown in a regulatory filing.)
XPeng (NYSE: XPEV) will officially debut the G6 at next month's Shanghai auto show, and in Deutsche Bank's view, the new SUV's sales performance will be crucial for the electric vehicle maker.
The upcoming G6 will be the swing factor and the model will need to be successful to make XPeng truly relevant in the market again, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on Wednesday.
XPeng management said during an earnings call earlier this month that the G6 will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter. The Shanghai auto show will be held from April 18 to April 27.
The model is a new energy SUV with a price range of RMB 200,000 ($29,250) - 300,000 and a monthly sales target of 2-3 times that of the P7, XPeng's management said.
That means at least 5,000 units per month of XPeng G6 sales, based on the trailing 6-month average, Yu's team noted.
XPeng will likely price the G6 similarly to the Tesla Model Y, hoping to attract consumers with its sleeker design and updated interior, the team said.
With increased G6 production, XPeng management believes total monthly deliveries could reach 15,000 units at some point in the third quarter, the team noted.
"This seems achievable and we model XPeng reaching this level in Sep," Yu's team wrote.
XPeng management said during a previous earnings call on August 23, 2022, that the company will launch a B-segment car in the first half of 2023 that will compete with the Tesla Model Y.
That model is the G6, and a regulatory filing earlier this month showed that it will come in three versions according to powertrain, including two single-motor versions as well as a dual-motor version. Its battery pack will have both lithium iron phosphate and lithium ternary batteries available.
The XPeng G6 measures 4,753 mm in length, 1,920 mm in width and 1,650 mm in height, with a wheelbase of 2,890 mm. For comparison, the Tesla Model Y measures 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.
The G6 will have a significantly improved range that will exceed expectations and will have much more interior space than similar offerings from competitors, XPeng chairman and CEO He Xiaopeng said during the earnings call earlier this month.
($1 = RMB 6.8374)
XPeng Q4 earnings call: New order intake up 100% in Feb from Jan
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Evergrande NEV warns risks of production halt if it can’t get additional liquidity
Evergrande NEV's only model currently on sale, the Hengchi 5, has delivered more than 900 units, according to an exchange announcement.
(Image credit: CnEVPost)
Evergrande New Energy Vehicle Group (Evergrande NEV), the electric vehicle unit of China Evergrande Group, is at risk of discontinuing production after struggling to deliver hundreds of vehicles.
Evergrande NEV's only model currently on sale, the Hengchi 5, is continuing to be produced in volume, with more than 900 units delivered to date, according to an announcement the company made today on the Hong Kong Stock Exchange website.
In order to focus its financial resources on supporting the mass production of the Hengchi 5, Evergrande NEV has continued its cost-saving initiatives and has taken measures to reduce the workforce of its Swedish subsidiary National Electric Vehicle Sweden AB, according to the announcement.
However, Evergrande NEV will be at risk of shutting down production in the event that additional liquidity is not available, the announcement said.
The group will plan to launch several flagship models if it can seek more than RMB 29 billion ($4.21 billion) in future financing and hopes to get them into mass production, the announcement said.
Under this plan, Evergrande NEV's cumulative unleveraged cash flow from 2023 to 2026 is expected to be between RMB minus 7 billion and RMB minus 5 billion, the announcement said.
Trading of Evergrande NEV's shares in Hong Kong has been suspended since April 1, 2022, and the timing of restarting trading has not yet been determined.
Hengchi 5 is the first model in mass production of Evergrande NEV's Hengchi Auto, which started delivery on October 29, 2022.
The model is currently available in only one version, with a price of RMB 179,000.
On December 2, Reuters reported that Evergrande NEV suspended mass production of the Hengchi 5 due to a lack of sufficient new orders for the SUV.
A Securities Times report at the time cited people close to Hengchi as saying the brand planned to lay off 10 percent of its workers and would suspend payroll to 25 percent of its workers for one to three months.
($1 = RMB 6.8807)
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The Year of Change: Snippets from the EV Situation in Latin America
Long distances, oilfields, and low salaries abound south of the Rio Bravo. If you ask me, it’s mainly these three conditions that have marked Latin America as one of the laggards in the EV transition. Alas, all bad times should come to an end, and recent developments in the region start to show not a […]
A Consortium Led By IBL Group To Purchase Majority Stake In Equator Energy
Equator Energy is a fully integrated solar power provider headquarted in Nairobi, Kenya. Equator Energy also has a presence in Uganda, as well as regional staff in South Sudan, Somalia, and Zimbabwe. The design, installation, operation, and maintenance of its solar power plants is all done in-house. Equator Energy was launched in 2016 by Maris […]
What If WE Owned The Tracks?
When it comes to energy efficient transportation in America, no transportation option is better than the railroads. They have been the freight transportation backbone of America for nearly 200 years, which is why all the recent news about train derailments and union strikes deserves our attention. While more profitable then they have ever been for […]
Hyundai Ioniq 6 Will Charge For Free At Electrify America
The fast charging package includes two years of unlimited 30-minute complimentary charging sessions.
Hyundai Ioniq 6 Will Charge For Free At Electrify America
The fast charging package includes two years of unlimited 30-minute complimentary charging sessions.
Smart #3 Crossover To Debut On April 17 At Shanghai Auto Show
Leaked images revealed the EV’s design in November.
BYD’s Denza N7 SUV officially presented with French Devialet acoustic system
The Denza N7 officially presented in China with 16 Devialet speakers. It will become the first car to have the Devialet sound system.
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