The German carmaker will reveal the sporty sedan at IAA Mobility in Munich.
Daily Archive: May 11, 2023
China EV battery installations in Apr: BYD regains top spot over CATL in LFP market
BYD returned to the top spot in the LFP battery market with a 42.68 percent share in April, overtaking CATL's 33.65 percent.
CATL overtook BYD (OTCMKTS: BYDDY) in China's lithium iron phosphate (LFP) battery market in March for the first time this year. Now, the latter has regained its top spot.
China's power battery installed base in April was 25.1 GWh, up 89.4 percent year-on-year but down 9.5 percent from March, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL's power battery installed base in April was 10.26 GWh, ranking first with a 40.83 percent share, down from 44.95 percent in March.
BYD installed 7.32 GWh of power batteries in April, ranking second with a 29.11 percent share, up 2.46 percentage points from March's 26.65 percent.
CALB installed 2.20 GWh of power batteries in April, ranking third with a share of 8.74 percent, down 1.54 percentage points from 10.28 percent in March.
Eve Energy overtook Gotion High-tech to rank No. 4 with 1.38 GWh of installed base and 5.48 percent share.
Gotion High-tech ranked 5th with 1.18 GWh installed in April and a 4.68 percent share. It ranked 4th with a 4.51 percent share in March.
China's ternary Li-ion battery installed base in April was 8.0 GWh, accounting for 31.8 percent of total installed base, up 83.5 percent year-on-year but down 8.3 percent from March.
The installed base of LFP batteries was 17.1 GWh, accounting for 68.1 percent of the total, up 92.7 percent year-on-year but down 10.0 percent from March.
In the ternary battery market, CATL ranked first with 56.22 percent of the installed base of 4.50 GWh in April.
CALB and Sunwoda ranked second and third in the ternary battery market with 17.29 percent and 6.07 percent shares, respectively.
In the LFP battery market, BYD regained the top spot with a 42.68 percent share by overtaking CATL with 7.31 GWh installed in April.
CATL installed 5.76 GWh in the LFP battery market in April, ranking second with a 33.65 percent share.
In March, CATL's share of the LFP market was 39.47, higher than BYD's 38.88 percent, the first time it has overtaken BYD in this market during the year.
Eve Energy and Gotion High-tech ranked third and fourth in the LFP battery market with 7.01 percent and 6.17 percent share, respectively.
China NEV sales down 2.6% MoM to 636,000 in Apr, CAAM data show
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NIO to report Q1 earnings on Jun 9
NIO delivered 31,041 vehicles in the first quarter, slightly above the lower end of its guidance range of 31,000 to 33,000 vehicles. | NIO US | NIO HK | NIO SG
NIO (NYSE: NIO) will report first quarter unaudited financial results on Friday, June 9, before the US market opens, the company announced today.
Previous figures showed it delivered 31,041 vehicles in the first quarter, just above the lower end of its guidance range of 31,000 to 33,000 vehicles.
NIO's previous revenue guidance for the first quarter was between RMB 10.93 billion and RMB 11.54 billion, implying year-on-year growth of about 10.2 percent to 16.5 percent.
Li Auto (NASDAQ: LI) already reported first-quarter earnings that beat expectations yesterday, sending its shares soaring 13.93 percent in US trading on Wednesday.
Li Auto's deliveries in the first quarter were slightly above the lower end of its guidance range, but revenue was above the upper end of the guidance range.
XPeng (NYSE: XPEV) will report first-quarter earnings on May 24.
By the time NIO reports its first-quarter earnings, its deliveries in May should have been released on June 1. Therefore, its delivery guidance for the second quarter will then imply the company's delivery expectations for June.
NIO will officially launch the new ES6 later this month, which will be a model of strategic importance to it. The company today asked its community for input on the pricing of the SUV.
NIO's management will host an earnings conference call on June 9 at 8:00 am US Eastern Time (8:00 pm Beijing Time on June 9).
A live and archived webcast of the conference call will be available on NIO's investor relations website at https://ir.nio.com/news-events/events.
Participants who wish to participate in the conference using dial-up may register in advance using the link provided below.
https://s1.c-conf.com/diamondpass/10030774-agy6dc.html
A replay of the conference call will be available through June 16, 2023 at the following numbers:
United States: +1-855-883-1031
Hong Kong, China: +852-800-930-639
Chinese mainland: +86-400-1209-216
Singapore: +65-800-1013-223
International: +61-7-3107-6325
Replay PIN: 10030774
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Fisker Pear EV Delayed To 2025, Will Cost Less Than $35,000
Fisker’s second all-electric model was originally touted as a sub-$30,000 car.
VW Annual Meeting No Piece Of Cake, Execs Take Heat Over China, EV Pace
Human rights activists threw a cake at VW Group's chairman, accusing VW of using forced labor at its plant in China's Xinjiang region.
NIO asks its community for advice on pricing of new ES6
One possibility is that NIO may price the new ES6 at under RMB 368,000 and attribute the decision to the calls of its community.
(Image credit: CnEVPost)
NIO (NYSE: NIO) is asking its community in China for advice on the pricing of the new ES6, as the SUV gets closer to its official launch.
Many NIO App users have received a push message from NIO containing a questionnaire asking them to vote on what they think is a fair price for the new ES6, according to information shared by several auto bloggers on Weibo today.
NIO offered six options in the questionnaire: below RMB 368,000 ($53,020), RMB 368,000, RMB 378,000, RMB 388,000, RMB 398,000, and above RMB 398,000.
The all-new ES6 will be launched soon, and the model has received a lot of attention since its unveiling at the Shanghai auto show, NIO wrote in the questionnaire.
"Before we officially release the price, we would like to hear from our user friends about the price of the new ES6," NIO said.
The questionnaire is due by 18:00 Beijing time on May 13.
William Li, founder, chairman and CEO of NIO, launched the 2023 ET7 sedan and gave the debut of a revamped version of the ES6 SUV based on the NT 2.0 platform at a brief launch event on the first day of the Shanghai auto show on April 18.
Li did not announce the new ES6's exact specifications or pricing at the time, saying only that the model's official launch would be in late May.
For reference, the older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.
For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The company's latest move underscores the high hopes it has for the model's sales prospects.
From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).
It's worth noting that soliciting input for the pricing of new models is a rarity in the Chinese auto industry. For rational consumers, no one wants to see a high price for a product they want to buy.
NIO may have its own considerations with this move, and CnEVPost's speculation is that the company may price the new ES6 below RMB 368,000 and attribute the decision to the calls from its community.
The new ES6 is now generally seen as coming with strong features and competitive pricing, which have already sparked discontent among some owners who previously bought the ES7 SUV.
Last month, many ES7 owners formed WeChat groups to collectively express their discontent that the upcoming new ES6 means NIO has betrayed them.
NIO has yet to announce a launch date for the new ES6, although rumors last week suggested that the model would be officially launched on May 24.
($1 = RMB 6.9404)
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China NEV sales down 2.6% MoM to 636,000 in April, CAAM data show
Irrational promotions in China's auto market since March have led to consumer wait-and-see, so auto consumption is still in a slow recovery process, the CAAM said.
China's new energy vehicle (NEV) sales in April were 636,000 units, up 112.71 percent year-on-year, but down 2.6 percent from March, according to data released today by the China Association of Automobile Manufacturers (CAAM).
The CAAM's data are wholesale sales for automakers, where NEVs include battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and fuel cell vehicles.
China sold 471,000 BEVs in April, up 103.7 percent year-on-year but down 3.9 percent from March.
PHEV sales were 165,000 units, up 144.5 percent year-on-year. Sales of fuel cell vehicles were 300 units, up 222.3 percent year-on-year.
All vehicle sales in China were 2.159 million units in April, up 82.7 percent year-on-year but down 11.9 percent from March.
This means that China's NEVs had a penetration rate of 29.5 percent in April, up from 26.6 percent in March.
Production of NEVs in China was 640,000 units in April, up 110 percent year-on-year, but down 5 percent from 674,000 units in March.
Production of all vehicles in China was 2.133 million units in April, up 76.8 percent year-on-year and 17.5 percent lower than in March.
China's auto production and sales saw a significant year-on-year increase in April, but this was mainly due to a low base in the same month last year, the CAAM noted.
Irrational promotions in the Chinese auto market since March have led to consumer wait-and-see, so auto consumption is still in a slow recovery process, the CAAM said.
In addition, production and sales in China's auto industry fell in April compared to March amid adverse factors including a slower-than-expected recovery in the commercial vehicle industry, according to the CAAM.
With the current downward pressure on China's economy increasing and aggregate demand still insufficient, the stable operation of the auto industry needs the support of effective policies, the CAAM said.
In April, exports of vehicles from China were 376,000 units, up 170 percent from a year earlier up and 3.3 percent from March.
Among them, the export volume of NEVs was 100,000 units, up 840 percent year-on-year, down 28.6 percent from March.
In January-April, China's auto sales were 8.235 million units, up 7.1 percent from a year earlier.
NEVs sold 2.222 million units in January-April, up 42.8 percent year-on-year, with a market share of 27 percent.
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Renault To Rival VW With Sub-$25,000 EV From 2027
The entry-level model will take inspiration from Japanese kei cars.
Wuling Hongguang Mini EV costs 2,850 USD with a battery subscription
Wuling Hongguang Mini EV's price slashed by 1,875 USD in China, thanks to the battery subscription service.
The post Wuling Hongguang Mini EV costs 2,850 USD with a battery subscription appeared first on CarNewsChina.com.
Gotion becomes VW’s designated battery supplier for markets outside of China
The purchase order involves LFP Unified Cell products with the same design style and specifications as those for the Chinese market for Volkswagen's full range of NEVs.
(Image credit: CnEVPost)
Gotion High-tech, a Chinese power battery manufacturer, has become a supplier to Volkswagen for the German automaker's overseas markets, furthering the partnership between the two.
Gotion's wholly-owned subsidiary Hefei Gotion High-tech Power Energy Co Ltd recently received a procurement letter from Volkswagen, making the company a designated supplier for the automaker's overseas markets, according to a stock exchange announcement on May 10.
This is the latest collaboration between Gotion and Volkswagen, which is its important backer, after becoming the designated production point for Volkswagen's NCM and LFP products in China in early 2022.
The purchase order relates to LFP Unified Cell products, which will be used in Volkswagen's models in markets outside of China.
These cells use the same design style and specifications as the Chinese market and are intended for use in Volkswagen's full range of NEVs, according to the announcement.
Volkswagen and Gotion have had a long-standing relationship, with a strategic cooperation framework agreement reached in July 2021 in which Gotion developed the first generation of Unified Cells for Volkswagen's regular production models in China.
In December 2021, Volkswagen China increased its stake in Gotion to 26.47 percent, making it the largest shareholder of the Chinese battery maker.
Unified Cells can significantly reduce costs by adopting a unified design standard and are expected to cover 80 percent of Volkswagen's models in the future, according to Gotion's press release.
In early 2022, Gotion was awarded the official production point for Volkswagen China's NCM and LFP Unified Cells. In February this year, the company won the Volkswagen Cell Test Lab qualification.
In addition, construction of a high-nickel NCM material project built by Volkswagen's private placement has begun in Lujiang, Hefei, and is expected to go into production this year, Gotion said in the press release.
The 20GWh Volkswagen Unified Cell project in Xinzhan, Hefei, has almost completed the main workshop and supporting buildings and is expected to start production in the second half of this year, Gotion said.
Gotion is one of the largest power battery makers, with 2.9 GWh installed in the first quarter, ranking 8th globally with a 2.2 percent share, according to data released earlier this month by South Korean market research firm SNE Research.
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