Monthly Archive: April 2023

XPeng upgrades over 160 charging stations with S4 ultra-fast chargers

now has more than 1,000 of self-operated charging stations in China, including 186 S4 ultra-fast charging stations.  |  XPeng US | XPeng HK

(Image credit: XPeng)

XPeng (NYSE: XPEV) already has nearly 200 charging stations equipped with the latest S4 ultra-fast chargers, after the first such facility was built last August.

XPeng launched its charging station upgrade program this year and has so far completed upgrades of more than 160 stations with S4 ultra-fast charging capability, according to a WeChat post from the company today.

The station upgrades cover 91 cities in China, and S4 ultra-fast charging capability refers to charging piles with a maximum output of 360 kW and 480 kW.

Including the new S4 charging stations, XPeng has now put 186 ultra-fast charging stations into operation in China, it said.

XPeng's charging network added 349 third-party charging stations in the first quarter, and they are able to serve the company's vehicle owners for free, the company said.

As of April 1, XPeng's charging network had a cumulative total of more than 2,200 charging stations, including more than 1,000 that the company operates itself.

XPeng said it will continue to expand its S4 ultra-fast charging network and expects to add about 500 S4 ultra-fast charging-capable stations in 2023.

The company completed its first S4 ultra-fast charging station on August 15, 2022, its 1,000th self-operated charging station.

The charging station has a maximum power of 480 kW, a maximum current of 670 A and a peak charging power of 400 kW.

XPeng's flagship SUV, the G9, was able to get a CLTC range of 210 km in 5 minutes when using this S4 ultra-fast charging station, as shown in a real-world test displayed by the company.

For comparison, 's V3 supercharger has a maximum power of 250 kW and a maximum current of 631 A, and can get a range of 150 km in as little as 5 minutes.

XPeng expects to add more than 500 S4 ultra-fast charging stations in 2023, and the number will exceed 2,000 by 2025, the company said at its G9 launch event last September 21.

XPeng sees new milestone in autonomous driving, rolls out Tesla FSD-like assisted driving capability to 2 flagship models

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Mine Powered By Reused Turbines

From 2020, the Port Gregory garnet mine, in Western Australia, has been 70% powered by a hybrid power plant consisting of a 2.5 MW wind farm (composed of reused wind turbines) and a 1.1 MW solar farm with a 2 MW/0.6 MWh battery. Australia-based Advanced Energy Resources (AER) is providing the infrastructure. AER is a […]

Tesla’s lower-priced model coming with planned annual capacity of 4 million units, report says

's lower-priced model will be a smaller version of the Model Y, and the EV maker is building a capacity plan for it of up to 4 million units a year, a new report said.

(Image credit: CnEVPost)

Tesla (NASDAQ: TSLA) is planning capacity for a lower-priced model, though it's not the one previously rumored to be priced at $25,000, according to a new report.

The model will be a smaller version of the Model Y, for which Tesla is building an annual capacity plan of up to 4 million units, Chinese media outlet 36kr said in a report today, citing sources.

This is an early capacity strategy, and Tesla is signaling to the industry chain that the 4 million units of capacity will be spread across its factories located around the world, according to the report.

Tesla's North American plants will take on 2 million units of capacity, with the Monterrey, Mexico, plant providing the bulk of the capacity. Its factories in Berlin, Germany, and Shanghai will each take on 1 million units, the report said.

Tesla CEO Elon Musk said at the company's 2020 Battery Day that electric vehicles priced at $25,000 will be possible by 2023.

Although rumors of the lower-priced model have popped up from time to time over the past few years, it has never become a reality.

For an electric vehicle with a range of no less than 400 kilometers and a mainstream smart driving suite, material costs are extremely difficult to get below RMB 150,000 ($25,000), the 36kr report said, citing an engineer from a local car company.

Depending on the factory's construction schedule, mass production of Tesla's $25,000 model may not come soon, at least more than a year away, the report said, citing a source.

If Tesla can bring the price of its electric vehicles down to slightly more than RMB 100,000, not only will it gain significant market share for itself, but it will also be a huge push for the maturation of the industry chain, an industry source said, adding that this is when the smart electric vehicle industry will see drastic changes.

Tesla delivered 422,875 units worldwide in the first quarter, up 36.39 percent from 310,048 units in the same period last year and up 4.34 percent from 405,278 units delivered in the fourth quarter, according to its announcement on April 2.

Tesla Model 3 and Model Y delivered 412,180 units worldwide in the quarter, and Model S and Model X were 10,695 units.

In China, Tesla has a factory in Shanghai that produces the Model 3 and Model Y. It is the largest Tesla factory in the world, with an annual capacity of about 1.1 million units per year.

Tesla does not reveal its deliveries in China, although the China Passenger Car Association (CPCA) publishes these numbers every month.

Tesla's deliveries in China in January and February were 26,843 and 33,923, respectively, and its Shanghai plant exported 39,208 and 40,479 units in the two months, according to the CPCA. March figures are expected to be available in the next few days.

Tesla CEO Elon Musk planning visit to China, report says

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Meituan CEO Wang Xing cuts holdings in Li Auto

Wang Xing has cashed out HK$420 million in the past half month by cutting his stake in , but remains the NEV maker's largest external shareholder.  |  Li Auto US | Li Auto HK

Li Auto's (NASDAQ: LI) largest external shareholder is cutting holdings as the new energy vehicle (NEV) maker continues to see strong delivery performance.

Wang Xing, co-founder and CEO of Chinese food delivery giant Meituan, has cut his stake in Li Auto's Hong Kong-traded shares six times in the past half month and cut his holdings in the automaker's US-traded ADRs three times, according to a Hong Kong Stock Exchange document.

Since March 21, Wang has cashed in about HK$310 million from his cuts in Li Auto's Hong Kong shares and about $14.07 million ($110 million) from his cuts in the automaker's ADRs, for a total of about HK$420 million.

Wang, a non-executive director of Li Auto, saw his stake in Li Auto drop to 22.35 percent after those reductions, still the automaker's top outside shareholder.

After Wang's move generated a lot of attention, Li Auto tried to downplay it.

It was a personal move by Wang, representing a very small percentage of his stake in Li Auto and not involving Meituan's holdings, local media Cailian reported yesterday, citing a response from the carmaker.

It is worth noting that Wang also reduced his stake in Li Auto several times at the end of March last year.

On March 29 and March 30, 2022, Wang cashed in about HK$210 million by reducing his holdings in Li Auto's Hong Kong and US shares.

Wang was one of the earliest backers of Li Auto, leading the car company's Series C funding round in 2019 with a personal contribution of up to $285 million.

In June 2020, Li Auto received $550 million in Series D funding, $500 million of which was led by Meituan.

At the time of Li Auto's US IPO, Meituan subscribed $300 million and Wang personally subscribed $30 million.

Wang and the entities he controls own a total of 22.82 percent of Li Auto, the automaker's 2022 interim report showed.

Li Auto delivered 20,823 vehicles in March, the second time it has exceeded 20,000 after last December, figures it released on April 1 showed.

The deliveries were the second highest for a single month since Li Auto's inception, after a record high of 21,233 vehicles last December.

Li Auto delivered 52,584 vehicles in the first quarter, up 65.8 percent year-on-year and up 13.53 percent from the fourth quarter of last year.

Li Auto was down 3.85 percent to HK$93.7 in Hong Kong at press time. The company is up about 11 percent so far this year in Hong Kong.

($1 = HK$7.8490)

Li Auto delivers 20,823 vehicles in Mar, up 25% from Feb

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