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Monthly Archive: May 2023
Hyundai Won’t Take A “Knee-Jerk Reaction” To Tesla’s Price Cuts, Says European CEO
The Korean manufacturer’s European chief says consumers need stability.
Kia To Tap Into US Subsidies By Expanding Mexico Plant To Make EVs
Kia confirmed it is considering transferring some of its production lines for EVs to its factory in the state of Nuevo Leon.
VW denies talks with Huawei on auto software licensing in China
There have been no discussions between Volkswagen China and other companies about operating system licensing, local media quoted the German carmaker as saying.
(Image credit: CnEVPost)
Volkswagen China denied it was in talks to use Huawei software in its cars in China, after a report yesterday sparked widespread discussion.
There have been no discussions between Volkswagen China and other companies about operating system licensing, local media Economic View cited the German automaker as saying today.
To provide the greatest possible convenience to customers, Volkswagen is continuing to push further into the development of existing software, the automaker said.
The Financial Times said in a report yesterday that Volkswagen has been in talks to use Huawei software in its cars in China, hoping to boost its efforts to gain a bigger share of the country's electric vehicle market.
Three people familiar with the situation said Volkswagen has talked with Huawei about using the latter's technology in its cars, while another person said the German carmaker has held similar talks with other Chinese groups, according to the Financial Times report.
Volkswagen's software is seen as lagging behind some local players in China, but it is one of the most aggressive of foreign car companies seeking change.
In late 2021, there were rumors that Huawei and Volkswagen Group were planning to form a joint venture to develop self-driving technology. But this was never confirmed.
Last October 13, Horizon Robotics, one of the leading providers of computing solutions for smart vehicles in China, announced that Cariad, Volkswagen's software subsidiary, would form a joint venture with it to accelerate efforts to develop smart driving technology locally.
Volkswagen plans to invest about 2.4 billion euros for a 60 percent stake in the joint venture, which is expected to close in the first half of 2023, according to a statement from Horizon Robotics.
Last October 24, local media outlet 36kr reported that Su Jing, a former Huawei executive and self-driving industry veteran, would join the joint venture, possibly as head of one of the technologies.
VW reportedly in talks to use Huawei software in its cars in China
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Watch Tesla Model Y In Quicksilver And Midnight Cherry Red At Giga Texas
Does this mean the two special colors will be applied to US-made vehicles?
Battery-grade lithium carbonate price roars back to RMB 300,000 per ton after 14 days of consecutive gains
The price of battery-grade lithium carbonate has risen 66.67 percent in China and 111.11 percent for industrial-grade lithium carbonate since the rally began late last month.
Lithium carbonate -- a key raw material for electric vehicle batteries -- has seen prices rise for half a month in China.
The price of battery-grade lithium carbonate reached RMB 300,000 ($42,740) per ton in China today, up RMB 15,000 per ton, or 5.26 percent, from yesterday, the 14th consecutive day of gains, according to Mysteel.
Industrial grade lithium carbonate price today reached RMB 285,000 per ton, up RMB 15,000 per ton, or 5.56 percent, from yesterday, the 17th consecutive day of increases.
This is a rebound in lithium carbonate prices after seeing months of declines, with the Chinese new energy vehicle (NEV) industry suddenly falling into weak growth early in the year.
The price of battery-grade lithium carbonate rose to RMB 590,000 per ton in China on November 23, 2022, up about 14 times from RMB 41,000 per ton in June 2020.
However, factors including weak demand for electric vehicles have caused lithium carbonate prices to decline all the way after heading into 2023.
Prior to April 21, lithium carbonate prices had not seen a single day of gains in China this year, falling about 65 percent since the beginning of the year.
Since the rebound began at the end of last month, battery-grade lithium carbonate prices have risen 66.67 percent in China, and industrial-grade lithium carbonate has risen 111.11 percent.
The rebound in lithium carbonate prices is mainly due to tight supplies, while there has still not been a more significant recovery in demand for NEVs downstream, local media Yicai cited an unnamed industry source as saying in a May 15 report.
China's new energy passenger car retail sales in April were 527,000 units, up 85.6 percent year-on-year but 3.6 percent lower than in March, according to data released by the China Passenger Car Association (CPCA) on May 9.
In some analysts' view, despite the rebound in lithium prices this month, there is still downward pressure in the long run.
Overseas customers will not purchase lithium at prices significantly higher than the Chinese market in the long term, and profit levels for lithium smelters will eventually return to a reasonable range, CICC analyst Feng Tingshuai 's team said in a May 16 research note.
If the rebound in Chinese lithium prices is not strong enough to fully reverse the situation, lithium prices will likely continue to face some downward pressure, the team said.
The accelerating downward trend in lithium carbonate prices is difficult to sustain, and lithium prices are expected to gradually stabilize and possibly even rebound, CICC analyst Zhang Jiaming's team said in an April 20 research note.
However, the team believes the downward trend in lithium prices may not end soon, as the global lithium supply is still in surplus.
($1 = RMB 7.0191)
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Robert Downey Jr. Turns Vintage Cars Into EVs In Trailer For New Show
The man wants to save the planet but keep his cars.
See How Many Parts Can Be Removed From A Tesla Without It Noticing
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Tesla Model Y To Be Best Selling Car In World In 2023?
Several years ago, before the first Tesla Model Y got into customer hands, I argued that the electric crossover could become the best selling car in the world. It appears that we’re now on the precipice of that happening. The argument was simple: The Tesla Model 3 had shattered records for its reservation tally — […]
NIO offers interior upgrades for 2022 ET7, brings new wireless phone charging panel
The upgrade will be available starting May 31 and will cost owners RMB 1,980. | NIO US | NIO HK | NIO SG
( 2022 NIO ET7 interior. Image credit: CnEVPost)
NIO (NYSE: NIO) launched the 2023 ET7 sedan a month ago, bringing more than 15 upgrades. Now the company is offering an upgrade program for the 2022 ET7 as well.
NIO today announced the rollout of a center module upgrade for the 2022 ET7, bringing improvements including a 40W air-cooled, wireless charging panel and upgraded center buttons.
(Image credit: NIO)
The upgrade will be available on May 31 at 10:00 am Beijing Time and will cost owners RMB 1,980 ($282). NIO will allow owners to pay up to RMB 1,000 with their NIO App credits.
Owners of the 2022 ET7 can reserve the upgrade by paying RMB 1,000 as a deposit on the NIO App after 10 am on May 31.
NIO will initially offer only 500 upgrade slots, and the time required to complete the upgrade is one day.
The installation will start in early June and will not affect any other rights of users.
The ET7, NIO's flagship sedan, was originally launched at the NIO Day 2020 event on January 9, 2021, with deliveries beginning on March 28, 2022.
On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7, bringing more than 15 upgrades, including improved seats and a 40w wireless charging panel for cell phones. The model's starting price remains unchanged at RMB 458,000.
With a more comfortable ride, more refined interior and a smarter experience, the improved ET7 continues to lead the direction of change for high-end smart electric mid to large-size sedans, William Li, founder, chairman and CEO of NIO, said at the time.
($1 = RMB7.0139)
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