The EV startup is reportedly sending hundreds of cars to Saudi Arabia from its factory in Arizona on a weekly basis.
Monthly Archive: June 2023
China EV battery installations in May: BYD extends lead in LFP market
CATL remains the largest power battery maker in China, but BYD's lead in the LFP market expanded in May.
After regaining the top spot in the lithium iron phosphate (LFP) market over CATL in April, BYD extended its lead in this segment in May.
In May, China's power battery installations were 28.2 GWh, up 52.1 percent year-on-year and up 12.3 percent from 25.1 GWh in April, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL's power battery installed base in May was 11.67 GWh, ranking first with a 41.31 percent share, up from 40.83 percent in April.
BYD's power battery installed base in May was 8.68 GWh, ranking second with a 30.72 percent share, up 1.61 percentage points from 29.11 percent in April.
CALB ranked third with a 7.76 percent share of 2.19 GWh in May, down 0.98 percentage points from 8.74 percent in April.
Eve Energy ranked No. 4 in May with 1.33 GWh installed base and 4.71 percent share, down 0.77 percentage points from 5.48 percent in April.
Gotion High-tech ranked 5th in May with 1.01 GWh of installed base and a 3.58 percent share.
Gotion ranked fourth in March with 4.51 percent share, but was overtaken by Eve Energy in April.
China's ternary battery installed base in May was 9.0 GWh, accounting for 32.0 percent of total installed base, up 8.7 percent year-on-year and up 12.8 percent from April.
The installed base of LFP batteries was 19.2 GWh, accounting for 67.8 percent of the total installed base, up 87.2 percent year-on-year and up 11.8 percent from April.
In the LFP battery market, BYD installed 8.68 GWh in May, topping the list with a 45.30 percent share, up from 42.68 percent in April.
CATL's installed base in the LFP battery market in May was 5.90 GWh, ranking second with a 30.81 percent share, down from 33.65 percent in April.
In March, CATL's share of the LFP market was 39.47, higher than BYD's 38.88 percent, marking the first time it has overtaken BYD in this segment during the year.
BYD's share of the LFP market rebounded to 42.68 percent in April, regaining the lead over CATL's 33.65 percent.
Eve Energy and CALB ranked third and fourth in the LFP battery market with 6.33 percent and 6.14 percent shares, respectively.
In the ternary battery market, CATL ranked first with 63.87 percent of the installed base in May with 5.77 GWh.
CALB and LG Energy Solution ranked second and third in the ternary battery market with 11.26 percent and 7.48 percent shares, respectively.
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Volvo Lineup To Be Fully Electric By 2030, “No Ifs, No Buts”
The Swedish carmaker takes a jab at rival brands which will continue to sell ICE-powered vehicles in the future.
CATL to supply CTP battery pack production line to Thailand’s Arun Plus
CATL and Arun Plus have entered into a CTP partnership agreement to provide the Thai company with a CTP production line and share CTP production technology.
(Image credit: CATL)
Chinese power battery giant CATL has entered into a new agreement with Thailand's Arun Plus, following the signing of a CTP (cell to pack) technology licensing agreement between the two a year ago.
CATL recently entered into a CTP partnership agreement with Arun Plus to provide the Thai company with a CTP production line and share CTP production technology, according to a press release yesterday.
The two parties will work to meet local demand for electric vehicle (EV) production in Thailand and help Thailand become a battery production hub in Southeast Asia, according to the release.
Arun Plus, the EV subsidiary of Thai state energy group PTT, has well-established energy infrastructure in Thailand.
In November 2022, Arun Plus established an EV manufacturing subsidiary to capitalize on the growing demand for electric vehicles in Thailand and Southeast Asia.
The latest partnership will help enhance Arun Plus' EV production capacity and drive the building of a power battery ecosystem in Thailand and Southeast Asia, CATL said.
It is also an important step in CATL's efforts to improve its global footprint and will help the company explore diverse partnership models in markets including Southeast Asia to accelerate the global electrification and clean energy transition, the power battery giant said.
On May 13, 2022, CATL announced that it had signed a strategic partnership memorandum with Arun Plus, licensing the latter to use CTP technology.
Arun Plus and CATL will supply battery products to Horizon Plus, a joint venture between Arun Plus and Foxconn that plans to produce EVs in Thailand in 2024, and other EV brands, according to last year's press release.
CTP is a technology that integrates cells into battery packs without modules, increasing the system energy density of packs, simplifying manufacturing processes and saving costs, CATL previously said.
On October 27, 2021, CATL announced an agreement with Hyundai Mobis, the parts division of Hyundai Motor, to license its CTP technology.
CATL will support Hyundai Mobis in the supply of CTP-related battery products in South Korea and globally, it said at the time.
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2025 VinFast VF3 Mini EV Expected To Become Vietnam’s National Car
VinFast's seventh all-electric model will begin deliveries in Vietnam in the third quarter of 2024.
China NEV sales up 12.74% MoM to 717,000 in May, CAAM data show
China's auto industry still needs to further recover and expand demand, and the release of consumption potential needs to be accelerated, the CAAM said.
China's new energy vehicle (NEV) sales in May were 717,000 units, up 60.2 percent year-on-year and up 12.74 percent from April, according to data released today by the China Association of Automobile Manufacturers (CAAM).
The CAAM released data on wholesale sales by automakers, where NEVs include battery electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs) and fuel cell vehicles.
China sold 522,000 BEVs in May, up 50.43 percent year-on-year and up 10.83 percent from April.
PHEV sales were 194,000 units in May, up 94.4 percent year-on-year. Sales of fuel cell vehicles were 400 units, up 310.7 percent year-on-year.
All vehicle sales in China were 2,382,000 in May, up 27.9 percent year-on-year and up 10.3 percent from April.
This means that China's NEVs had a penetration rate of 30.1 percent in May, up from 29.5 percent in April.
Production of NEVs in China was 713,000 units in May, up 53 percent year-on-year and 11.4 percent from 640,000 units in April.
Production of all vehicles in China was 2.333 million units in May, up 21.1 percent year-on-year and up 9.4 percent from May.
Both auto production and sales in China saw year-on-year growth in May, with NEVs continuing their rapid growth, the CAAM said.
However, the auto industry is still operating under great pressure, and the profitability of industry enterprises is at a low level, the CAAM noted.
From the current perspective, China's auto industry still needs to further recover and expand demand, and the release of consumption potential needs to be accelerated to drive steady growth in the industry, the CAAM said.
In May, 389,000 vehicles were exported from China, up 58.7 percent year-on-year and up 3.4 percent from April.
Among them, exports of NEVs were 108,000 units, up 150 percent year-on-year and up 7.9 percent from April.
In January-May, China's auto sales were 10.617 million units, an increase of 11.1 percent from the same period last year.
NEVs sold 2.94 million units in January-May, up 46.8 percent year-on-year, with a market share of 27.7 percent.
China contributes 56% of global EV sales in Q1, Counterpoint says
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Ford Files Patent For Roof-Mounted EV Backup Battery
Could this be the solution for zero-emissions off-roading where access to chargers is limited?
NIO offers new options for ET5, ES7 and new ES8
ET5 and ES7 add gold exterior option, ET5, ES7 and new ES8 all add front wiper defrost feature.
(Image credit: NIO)
NIO (NYSE: NIO) today began offering more options for three models in an attempt to increase their appeal.
Both the ET5 sedan and ES7 SUV are adding a gold exterior option effective immediately, with the option both priced at RMB 10,000 ($1,400), according to an article posted today by the NIO App.
ET5, ES7 and the new ES8 all have a new front wiper defrost function, all priced at RMB 1,000.
In cold weather, the front wiper defrost feature helps the wipers return to normal operation more quickly to clear snow and maintain clear visibility, the article said.
Vehicles with the optional front wiper defrost feature will receive an OTA update to get the software that works with it.
NIO has also updated the ET5 with optional wheel and tire combinations. The 19-inch five-spoke wheels are standard on the model, while other options are available for a fee ranging from RMB 3,500 to RMB 9,500.
The NIO ET5 was launched on NIO Day 2021 in December 2021, with the first delivery on September 30, 2022.
NIO ES7 was launched on June 15, 2022, with the first delivery on August 28, 2022.
The new ES8 was launched on NIO Day 2022, December 24, 2022, with deliveries to begin later this month.
NIO will report first-quarter earnings later today and hold an analyst call afterward.
The company delivered 31,041 vehicles in the first quarter, slightly above the lower end of its guidance range of 31,000 to 33,000 vehicles.
($1 = RMB 7.1248)
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XPeng surges in HK as investors seem to like G6’s pre-sale price
XPeng's stock traded in Hong Kong continues to rally after the announcement of the G6's pre-sale price, currently up about 5 percent.
XPeng (NYSE: XPEV) shares traded in Hong Kong rallied quickly after pre-sales of the new SUV G6 began, suggesting investors may be bullish on the pricing.
At press time, XPeng was up 5.03 percent to HK$34.45 in Hong Kong.
XPeng's local peer NIO (NYSE: NIO) is now down about 0.08 percent in Hong Kong, while Li Auto (NASDAQ: LI) is up 0.8 percent. Hong Kong's Hang Seng Index is up 0.58 percent.
XPeng opened up more than 2 percent in Hong Kong, but then fell quickly, giving back all of its gains at about 10:20 am.
The company announced at 10:16 am today that the G6 was up for pre-sale, with a starting pre-sale price of 225,000 yuan ($31,610). Its stock price continued to move higher after that.
The pre-sale starting price for the XPeng G6 is RMB 38,900 less than its direct competitor, the Tesla Model Y, and RMB 84,900 less than the RMB 309,900 starting price for XPeng's flagship SUV, the G9.
It is important to note that the pre-sale price is not the final price and XPeng may provide new pricing based on consumer feedback when the G6 is officially launched.
G6 show cars are already available at XPeng stores, and the model will be officially launched on June 29, with deliveries starting in July, the company said.
Analysts believe the G6 will be critical for XPeng as the company continues to face weak sales and financial performance.
"With margins and cash burn looking materially worse following 1Q earnings, we believe management may be making its last stand with the G6," Deutsche Bank analyst Edison Yu's team said in a May 30 research note.
The team's previous view assumed XPeng could see stable natural margin improvement from the sharp drop in battery input prices, but those savings were mostly offset by incremental promotional activity and a poor mix.
" Therefore, the importance of the upcoming G6 has become even GREATER," the team wrote.
Weak delivery performance over the past year has dampened XPeng shares, and they are down about 11 percent year to date.
XPeng begins pre-sales of G6 with starting price significantly lower than Tesla Model Y
($1 = RMB 7.1187)
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Xpeng G6 pre-sales started in China for 31,600 USD. Will it rival the Model Y?
Xpeng G6 pre-sales started in China. It has up to 460 hp, 755 km of CLTC range and a starting price of 31,600 USD. Is it enough to beat Tesla?
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