The company forecasts a 15-20 percent gross profit margin on the EX30, which will be its smallest and most affordable model at $36,415.
Monthly Archive: June 2023
Toyota Testing GR Electric Sports Car With Manual Gearbox
It even has "engine noises" and you can't tell whether it's an EV or ICE.
Marine Environment At Risk Due to Ship Emissions
According to a recent study conducted by Chalmers University of Technology in Sweden, the collective release of metals and other environmentally harmful substances by ships poses a significant threat to the marine ecosystem. The researchers assessed the pollution levels caused by these emissions in four ports and discovered that over 90 percent of the contaminants […]
VinFast Will Give Its Customers Cash Or Vouchers If Their EV Breaks Down
The carmaker’s new after-sales policy goes live today in the US, Canada, and Vietnam.
Analysts expect 16% of heavy trucks sold in China to be electric by 2025
At present, 89 percent of the new energy heavy trucks are pure electric models, and half of them support battery swap.
(Image: Screenshot from a CATL video)
China's electrification transition involves not only regular passenger cars, but heavy trucks as well.
By 2025, sales of electric heavy trucks in China are expected to reach 190,000 units, with a penetration rate of about 16 percent, said CITIC Securities analyst Yuan Jiancong's team in a research note today.
In China, the singularity for accelerated penetration of electric heavy trucks has arrived, with penetration expected to reach 35 percent by 2030, the team said.
The acceleration of new energy heavy truck penetration in China from 2021 onward was largely driven by China's restrictions on carbon emissions from high-emitting companies, according to the team.
In 2022, retail sales of new energy heavy trucks in China were 25,000 units, up 142 percent year-on-year, with a penetration rate of about 5 percent, CITIC Securities said, citing data from China Automotive Technology and Research Center (CATARC).
At present, 89 percent of new energy heavy trucks are pure electric models, and half of them support battery swap, according to the team.
Heavy-duty trucks have larger batteries and take longer to recharge at the same charging rate, and battery swap meets the efficiency requirements of these models, the team said.
From 2021 to 2022, the percentage of battery swap-enabled heavy-duty trucks ramped up, the team said, adding that they expect such electric heavy-duty trucks to become the industry's dominant product form in the near term.
On June 12, CATL unveiled Qiji Energy, a battery swap solution for heavy-duty trucks. Similar to the Chinese power battery giant's EVOGO solution for passenger cars released last year, Qiji Energy supports flexible use of the number of batteries.
With a capacity of 171 kWh in a single battery block, heavy trucks can choose to use 1-3 blocks, and the entire battery replacement process takes only a few minutes, CATL said.
In the vehicle-battery separation model, a heavy truck can save RMB 30,000 ($4,190) to RMB 60,000 in annual costs, CATL said.
CATL's move is expected to further boost the electrification of heavy trucks, CITIC Securities said in the research note today.
The penetration of electric heavy trucks is expected to accelerate in areas with higher requirements for range and economy, the team said.
The note also said that Tesla's first electric heavy truck, the Semi, which began deliveries on December 2, 2022, has a range of 800 km at 37 tons fully loaded and has met the criteria for wide-scale commercial operation.
Electric heavy-duty trucks have shown good economic performance in both the US and China, and the Tesla Semi could help the industry grow more rapidly in the US, the team said.
In China, electric heavy-duty trucks will be adopted preferentially in the short term in scenarios including coal industrial parks, steel industrial parks, and sanitation trucks, driven by policy.
By 2025-2030, market forces will drive more growth in the sector as electric heavy trucks improve in economy and range, according to the team.
($1 = RMB 7.1551)
CATL launches battery swap solution Qiji Energy for heavy-duty trucks
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Buick to launch Electra E4 coupe SUV in China on Jun 19
Only about 2 months ago on April 13, Buick launched the Electra E5 SUV -- its first model based on GM's Ultium platform -- in China.
(Image credit: Buick)
General Motors' Buick brand is probably the most aggressive of the foreign brands when it comes to tapping into the Chinese electric vehicle (EV) market, with a second model coming two months after launching its first model based on the Ultium platform two months ago.
The Buick Electra E4 -- an all-electric coupe SUV -- will go on sale in China on June 19, the brand announced on its social media accounts yesterday.
Notably, Buick launched the Electra E5 SUV, its first model based on GM's Ultium platform, in China only about 2 months ago, on April 13.
Buick was already warming up for the Electra E4's launch earlier this month, sharing exterior images of the model as well as its core specs.
The Electra E4 entered the Chinese industry regulator's list of new models that will be allowed to be sold in China two months ago.
The model has a length, width and height of 4,818 mm, 1,912 mm and 1,581 mm, respectively, and a wheelbase of 2,954 mm, according to the regulatory filing dated April 11.
For comparison, Buick's first model based on the Ultium platform, the Electra E5, has a length, width and height of 4,892 mm, 1,905 mm and 1,655 mm, respectively, and a wheelbase of 2,954 mm.
The model has two power versions, the dual-motor version with a maximum output of 143 kW for the front motor and 68 kW for the rear motor. Its single-motor version has a front motor with a maximum output of 150 kW. The model supports a top speed of 180 km/h.
The Buick Electra E4 is powered by a ternary lithium-ion battery supplied by a joint venture between CATL and GM's local car-making partner SAIC, with a 65-kWh pack for a CLTC range of 530 km in the standard range version and a 79.7-kWh pack for a CLTC range of 620 km in the long-range version.
Buick is one of the most aggressive in embracing the transition to electrification in the Chinese auto industry. It launched the Electra E5 on April 13, offering five versions with starting prices of RMB 208,900 ($29,100), RMB 222,900, RMB 225,900, RMB 239,900 and RMB 278,900, respectively.
On April 25, Buick announced that the Electra E5 received more than 8,000 orders after 12 days on the market.
On May 29, SAIC Motor, a joint venture between GM and SAIC, said the first deliveries of Electra E5 vehicles had begun, but did not announce the number of deliveries.
($1 = RMB 7.1780)
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NIO website shows countdown as ET5 Touring launch less than 8 hours away
Deliveries of the ET5 Touring in China will begin tomorrow, and NIO management expects the model to enhance its competitiveness in the premium family car market.
NIO (NYSE: NIO) will hold a launch event for the ET5 Touring starting today at 19:00 Beijing time (7:00 am US Eastern time), and its official website is showing a countdown.
As of press time, the launch of the NIO ET5 Touring in China, themed "Journey Ahead," has 7 hours and 43 minutes to go. The delivery of the model in China will officially start tomorrow.
NIO's English website is also showing a countdown to the European launch event with the theme "Inspired By Life", which will start in 13 hours and 43 minutes.
The ET5 Touring will be the first NIO model to be launched at a global launch event. The company will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).
The ET5 Touring launch will be an event across six countries, NIO announced on June 10, when a post on the NIO App hinted that the model would be released to consumers in China, Norway, Sweden, Denmark, the Netherlands, and Germany.
Below is a video posted today by the NIO App of the ET5 Touring on a track drive in Germany.
NIO began accepting pre-orders for the ET5 Touring in China on June 10, although the model's specifications and price have not yet been announced.
For the ET5 Touring, many expect that its starting price in China, including the battery, will likely be 10,000 yuan ($1,400) to 20,000 yuan higher than that of the regular ET5.
NIO lowered the starting prices for all models by RMB 30,000 on June 12 and made the battery swap service, which was previously free several times a month, a paid option.
Under the latest pricing system, the starting price for the regular ET5, including the battery, is reduced to RMB 298,000. If consumers choose to lease the battery using the BaaS (battery as a service) program, then the starting price of the vehicle is RMB 228,000.
On March 9, the Chinese Ministry of Industry and Information Technology (MIIT) announced the latest batch of models that will be allowed to be sold in China, and the NIO ET5 Touring was included in the list.
The model has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm respectively, and a wheelbase of 2,888 mm, in line with the ET5 sedan, according to the filing information.
It is equipped with dual motors produced by NIO's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.
As with several other NIO models based on the NT 2.0 platform, the NIO ET5 Touring supports the option of a retractable electric tow hook, which can tow a maximum of 1,400 kg of caravan weight.
The model's battery supplier includes CALB in addition to CATL, as do the new EC6, EC7, new ES8 and new ES6.
The ET5 Touring can meet the diverse use scenarios of individual and family users, greatly enhancing the company's competitiveness in the high-end family car market, William Li, founder, chairman and CEO of NIO, said during a June 9 analyst call following the company's first-quarter earnings announcement.
($1 = RMB 7.1735)
Store visit: First impression of NIO ET5 Touring before official launch
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In Case You Missed It: Toyota Dropped a GR Prius
The latest Toyota Prius was a massive leap over the previous generation – in terms of style and performance, if not efficiency – but there’s always room for more, and more is exactly what this Gazoo Racing-developed GR Prius brought to France this past weekend. Toyota rolled out its Prius 24h Le Mans Centennial GR […]
XPeng rolls out Tesla FSD-like assisted driving feature in Beijing
City NGP feature is expected to cover dozens of additional cities within the year, XPeng said.
(Image credit: CnEVPost)
XPeng's (NYSE: XPEV) Advanced Driver Assistance System (ADAS) similar to Tesla's FSD (Full Self-Driving) is now available in Beijing, making the company the first to launch the feature in the Chinese capital city.
The XPeng feature, called City NGP (Navigation Guided Pilot), is open in Beijing for users participating in a public test and is currently available on Beijing's ring roads and major highways, according to a press release today.
In addition to public test users, the feature will soon be available for general users of the Max version of XPeng's flagship G9 and P7i with the Xmart OS 4.3.0 system update, it said.
XPeng P5's P-version models will also be able to use the City NGP feature in Beijing after upgrading to Xmart OS 3.5.0, according to the company.
City NGP is an ADAS feature similar to Tesla's FSD, which allows the vehicle to perform driving tasks when it is activated and navigation destinations are set.
This includes cruising at a safe distance from the vehicle ahead, changing lanes due to navigation or vehicle overtaking decisions, handling merging and lane splitting, and going around stationary vehicles or obstacles.
On September 17, 2022, the City NGP feature became available on a pilot basis in Guangzhou, where XPeng is headquartered. One month later, XPeng officially opened the feature to all eligible P5 cars in Guangzhou on October 21.
When XPeng launched its flagship SUV, the G9, on September 21, 2022, it said the model would feature a second-generation assisted driving system called XNGP.
XNGP is a full-scenario assisted driving system, and XPeng aims to have it provide driving assistance in all scenarios including highways, city roads, internal campus roads, and parking lots.
On October 24, 2022, XPeng said at its annual Tech Day event that XNGP for G9 Max will enable support for City NGP in Guangzhou, Shenzhen and Shanghai in the first half of 2023.
On March 31 of this year, XPeng announced that XNGP achieved the first phase of capability, covering the G9 Max and P7i Max versions, to gain City NGP capability in Shanghai, Shenzhen and Guangzhou, three cities with high precision map coverage.
Phase 2 of XNGP, which XPeng will launch in the second half of 2023, will see full lane-changing, overtaking and left/right turn capabilities extended to major Chinese cities without high-precision maps, while full-scenario ADAS is planned for 2024, the company said at the time.
When the full rollout of the XNGP system is completed in 2024, it will enable full-scenario ADAS from start to stop, the company said.
Based on XNGP's ability to iterate quickly, the improved capabilities of City NGP brought by the Xmart OS 4.3.0 upgrade will allow vehicles to handle tasks including lane changes, detours and following vehicles with greater ease, XPeng said today.
(Image credit: XPeng)
City NGP under the XNGP system has powerful AI learning capabilities that will allow driving skills to improve faster and also allow it to cover more cities at a faster pace, according to XPeng.
In addition to Beijing, Shanghai, Guangzhou and Shenzhen, the City NGP feature is expected to cover dozens of additional cities within the year, XPeng said.
The latest XNGP will also bring next-generation Highway NGP capabilities that perform closer to L4 assisted driving, with almost 0 takeover in highway scenarios, the company said.
City NGP has gained the equivalent of one year of driving experience for human drivers on average each quarter since its launch in October 2022, XPeng said.
In the second half of 2023, XPeng will gradually release ADAS features for Chinese cities or urban areas without HD map coverage, it said, adding that it also plans to offer customized NGP features for daily commutes across the country.
These initiatives will cater to a wider range of driving scenarios and provide users with a more intelligent driving experience in a variety of environments, XPeng said.
XPeng is seen as one of the strongest in China in terms of assisted driving capabilities, though its local counterparts are also making rapid progress on their own.
NIO's similar feature is called NOP (Navigate on Pilot), though it doesn't yet cover urban areas. The company began allowing owners of all its NT 2.0 platform vehicles to apply for a trial of an improved version of the system, NOP+ Beta, on February 20.
NOP+ Beta covers 95 percent of China's core highways and urban fast roads, and offers significant improvements in safety and comfort of experience in scenarios including following, lane changing and overtaking, and ramp passing, NIO said on April 10.
NOP+ will gradually switch and upgrade to BEV architecture in 2023, and the hardware capability and algorithm architecture will help NOP+ cover more road scenarios, the company said at the time.
In addition, starting in the second half of 2023, the feature will support pilot navigation to battery swap stations along highways and automatic replacement of fully charged batteries, according to NIO.
NIO's assisted driving software covering urban areas is called NAD (NIO Autonomous Driving), and the system is not yet available.
Li Auto (NASDAQ: LI) unveiled its latest generation of assisted driving system, AD Max 3.0, on the first day of the Shanghai auto show on April 18. The system's all-scenario Navigation on ADAS (NOA) will kick off internal testing this quarter and will cover more than 100 cities by the end of the year, Li Auto said at the time.
XPeng says G6 gets over 25,000 orders 72 hours after pre-sale starts
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