Category: BYD

China NEV insurance registrations for week ending Mar 12: BYD 37,141, Tesla 17,032, NIO 2,170

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's insurance registrations last week in China were higher than the previous week's 13,266, while 's were lower than the previous week's 3,345.

 

's new energy vehicles (NEVs) saw 37,141 insurance registrations in China for the week ending March 12, lower than the previous week's 38,932, according to numbers shared today by auto blogger @一路向北BYD.

Tesla vehicles saw 17,032 insurance registrations in China last week, higher than the previous week's 13,266.

NIO was 2,170 last week, down from 3,345 the week before.

registered 4,243 units last week, up from 3,222 units the previous week.

was 1,635 units last week, up from 1,421 units the week before.

BYD's premium brand Denza vehicles saw 1,853 insurance registrations last week, up from 1,808 the week before.

was 1,043 units last week, down from 1,814 units the week before.

BMW's NEVs registered 1,486 insurance units in China last week, down from 1,663 units the week before.

The past week has seen a rare price war in China's auto industry involving not only NEV makers, but traditional internal combustion engine automakers as well.

Rumors surfaced last week that BMW dealers were offering a massive subsidy for the all-electric BMW i3 in China, and that consumers who pay full price for the car can even get the model for RMB 120,000 to 180,000, less than half the retail price.

BMW insiders denied this, but sources at BMW dealers said they are indeed offering discounts, and that these measures were only introduced this month, local media Cailian reported last week.

For the BMW i3 eDrive35 L, which currently has a guide price of RMB 353,900, the price after discounts is RMB 248,000, the report said, citing BMW dealership sources.

Consumers will also receive an additional RMB 6,000 subsidy if they trade in their vehicles, the source said.

The increasing number of car companies joining the price war has led to increased consumer wait-and-see sentiment to avoid seeing price reductions shortly after purchasing a car.

Li Auto has introduced a consumer purchase price protection benefit that covers all of the company's currently available models -- Li L7, Li L8, Li L9.

For consumers who purchase these models, if the prices drops within 90 days of their order, then Li Auto will refund the difference.

The policy, which is available to consumers when they purchase the Li L7, Li L8, and Li L9, is primarily intended to make clear to them that Li Auto will not drop the prices, local media outlet The Paper said earlier today, citing salespeople from the company.

China NEV insurance registrations for week ending Mar 5: BYD 38,932, Tesla 13,266, NIO 3,345

Weekly NEV insurance registrations in China in 2023

WkBYDTeslaNIOXPengLi AutoBMWZeekrNEVNEV+ICE
03/06-03/1237,14117,0322,1701,6354,2431,4861,043988
02/27-03/0538,93213,2663,3451,4213,2221,6631,8144,109515116,238345,340
02/20-02/2639,47310,7053,3571,6855,3871,7921,8552,152401111,983331,238
02/13-02/1937,0265,9133,1741,4634,2382,2711,4431,038329100,408303,101
02/06-02/1231,4176,9633,0451,3964,0626825471,170NA85,572280,741
01/30-02/0524,2808,6431,9489752,2405935543,96411469,692267,843
01/23-01/295,2803,356427210990NA89NANA17,94592,600
01/16-01/2224,7087,4963,0081,0684,903NA657NANA67,500330,400
01/09-01/1540,42012,6542,9631,8174,5272,6871,35942023799,041438,000
01/02-01/0835,9242,1102,8181,5513,7042,1031,5112388077,000290,000

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BYD launches 4 models in Jordan, its 1st stop in Middle East

has launched the Dolphin, Tang EV, Atto 3 and Han EV in Jordan, the first stop for the NEV maker to expand into the Middle East market.

BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) officially launched its vehicle offerings in Jordan, following its partnership with local dealer Mobility Solutions Auto Trade Co (MSTC) in September last year.

BYD launched four models at a joint launch event on March 9 with MSTC in Jordan, the first stop for the Chinese new energy vehicle (NEV) giant to expand into the Middle East market, according to a press release yesterday.

The four models are the BYD Dolphin, Tang EV, Atto 3 and Han EV.

"This conference is not only our first stop in the Middle East market this year, but also a milestone for our in-depth integration into the Middle East market," Adam Peng, BYD's sales director for the Middle East region, said in the event.

The BYD Dolphin is a compact car, the first production model based on the BYD e-Platform 3.0. The Tang EV is a midsize SUV with 520 horsepower.

The Atto 3, which is called the Yuan Plus in China, is BYD's first global model. The Han EV is BYD's flagship sedan.

In addition to the launch of these four models, BYD also announced plans for a strategic cooperation plan with MSTC.

The two parties will cooperate in sales, after-sales and maintenance to provide service and support to consumers in the Middle East, an important step in BYD's continued growth in the Middle East market, BYD said.

On September 27, 2022, BYD announced a partnership with Bustami & Saheb Trading Company (BSTC), the parent company of MSTC and a Jordanian car dealership group, in order to provide NEVs to local consumers.

BYD sold 193,655 NEVs in February, including 90,639 pure electric passenger cars, 101,025 plug-in hybrid passenger cars, and 1,991 commercial vehicles, according to figures it announced earlier this month.

In February, BYD sold 15,002 NEVs in overseas markets, up 44.13 percent from 10,409 units in January.

BYD Feb sales breakdown: Song 52,400 units, Yuan 33,612 units

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BYD says report that Tesla won’t extend battery supply partnership with it untrue

A spokesperson, responding to CnEVPost's request for comment, said the information was untrue and did not correspond to reality.

BYDDY.US | BYD HK | TSLA.US

(File photo shows BYD's blade battery. Credit: BYD)

will not continue to use BYD's batteries after its contract with the latter expires, according to a report in a South Korean media outlet yesterday. BYD denied it today.

Tesla has decided not to use BYD's batteries due to quality issues arising from a series of fire accidents with the latter's LFP (lithium iron phosphate) batteries, South Korea's Korea Economic Daily said in a report yesterday.

Tesla first used BYD's 10 GWh batteries last year for its low-end models in Europe, according to the report.

Earlier this year, Tesla did not request the additional supply of BYD batteries for the standard, low-cost trim version of the Model 3 after its contract to supply them expired, the report said, citing industry sources.

Fires in electric vehicles where BYD applied its own batteries have occurred several times in China, triggered by quality problems, the report said.

Contrary to BYD's explanation, there is no reason for Tesla to use BYD batteries as accidents become more frequent, a source from the battery industry said. That seems to be the reason for it, he said.

Tesla's reliance on LG Energy Solution, which is accelerating the development of LFP batteries for electric vehicles at Tesla's request, is expected to grow, according to the report.

Tesla uses LG Energy Solution and in Europe and Panasonic products in North America. Existing companies will most likely fill BYD's vacancy, the report noted.

A BYD spokesperson, responding to CnEVPost's request for comment, said the information was untrue and did not correspond to reality.

In February 2022, rumors surfaced that Tesla had officially placed an order with BYD's battery manufacturing division, FinDreams Battery, for blade batteries for 204,000 vehicles per year.

In early June 2022, BYD executive vice president Lian Yubo said in an interview with state-owned media outlet CGTN host Kui Yingchun that BYD would soon be supplying batteries to Tesla.

Lian provided no further details at the time, and a video of that interview posted on Weibo was subsequently deleted.

On August 10, 2022, Sina Tech cited multiple sources familiar with the matter as saying that BYD's blade battery supplies to Tesla had already begun to be delivered to the latter's plant in Berlin, Germany, the first Tesla Gigafactory to use BYD batteries.

Tesla's competitive relationship with BYD is also one of the reasons it will not extend its contract in Europe, according to Korea Economic Daily. Tesla asked LG Energy Solution to develop LFP batteries to keep its electric vehicle rival in check, the report said.

In October 2022, Steve Westly, a former Tesla board member and founder of Westly, said the only one that can truly compete with the US electric vehicle giant on a global scale is BYD.

"For the first time, I think there is a real challenger and that challenger's name is BYD," Westly said in a CNBC interview that aired on October 20 of last year.

"BYD will likely hit one million EV units produced and sold this year. That's something that should keep your eye on," he said, adding, "In contrast, it is good to compare, Ford, probably has 60,000 units and GM struggling to hit 50,000 units. They are barely 4 to 5 percent of Tesla."

So right now, it looks like it's Tesla and the Chinese battle, Westly said.

BYD sold 1,863,494 new energy vehicles (NEVs) in 2022, including 946,239 plug-in hybrid passenger cars, 911,140 pure electric passenger cars, and 6,115 commercial vehicles, according to data monitored by CnEVPost.

For comparison, Tesla delivered 1,313,851 vehicles worldwide in 2022, with 439,770 delivered to Chinese consumers.

Charlie Munger, a renowned US investor, said on February 15 that Tesla pales in comparison to BYD in China.

"Tesla last year reduced its prices in China twice. BYD increased its prices. We are direct competitors. BYD is so much ahead of Tesla in China, it's almost ridiculous," Munger said.

In addition to being an NEV giant, BYD is also one of the world's largest power battery manufacturers.

BYD installed 5.8 GWh of power batteries globally in January, up 78.8 percent from 3.3 GWh in the same month last year, according to a report released by South Korean market research firm SNE Research on March 6.

BYD ranked second globally with a 17.6 percent market share, up from the 11.6 percent share in the same period last year.

CATL installed 11.2 GWh of batteries globally in January, continuing to rank first with a 33.9 percent market share, but lower than the 37.6 percent share in the same month last year.

LG Energy Solution installed 4.3 GWh of power batteries in January, ranking third with a 13.0 percent market share, up from 10.1 percent in the same month last year.

BYD so far ahead of Tesla in China that 'it's almost ridiculous,' says Charlie Munger

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BYD signs deal to supply 5,000 EVs to UK car rental firm Octopus EV over 3 years

The initial order will include the Atto 3, which will be available under the Salary Sacrifice program.

BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY), which just last week officially announced its entry into the UK passenger car market, has signed a purchase agreement with a local car rental company.

BYD entered into a partnership with UK-based Octopus Electric Vehicles (Octopus EV) on March 10, which plans to buy 5,000 BYD electric vehicles over the next 3 years, according to a press release today.

The initial order will include the BYD Atto 3, an all-electric C-segment SUV that debuted in the UK this month.

The vehicles will be offered with the Salary Sacrifice program, one of the most affordable ways to lease BYD vehicles in the UK, according to the Chinese new energy vehicle (NEV) maker.

The start of this commercial relationship lays the foundations for Octopus EV to become a BYD partner for the Salary Sacrifice scheme in the UK, with plans for further orders in the future, the release said.

A salary sacrifice program is an agreement to reduce an employee's cash compensation entitlement, usually in exchange for a non-cash benefit.

Founded in 2018, Octopus EV is a subsidiary of Octopus Energy Group, one of Europe's largest renewable energy investors based in the UK.

Octopus EV offers services including electric vehicle leasing, charging post installation, and special discounted tariffs for electric vehicles through its parent company.

On March 8, BYD announced the official start of sales of the Atto 3 in the UK, its first passenger car offered in the country.

The model will start at £36,490 ($43,230) in the UK and local deliveries will begin on March 15, BYD said last week.

The first BYD pioneer stores will open soon, in the backbone of the U.K., including Birmingham, Manchester, Glasgow and Milton Keynes, the company said.

The Atto 3, known in China as the Yuan Plus, went on sale on February 19, 2022, and is the first SUV on BYD's all-electric platform, e-platform 3.0.

BYD to deliver 100,000 EVs to German car rental firm SIXT over next six years

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BYD begins construction of Thailand plant with annual capacity of 150,000 units

On March 10, held a groundbreaking ceremony for the plant in Thailand, and the delivery ceremony for the 10,000th BYD Atto 3.

BYDDY.US | BYD HK

BYD began construction of its passenger car plant in Thailand, as it reaches a milestone in deliveries there.

On March 10, BYD held a groundbreaking ceremony for the plant in Thailand, as well as a delivery ceremony for the 9,999th and 10,000th BYD Atto 3, according to a press release.

The establishment of a passenger car production base in Thailand is one of BYD's key initiatives to accelerate its expansion into the Asia-Pacific market, said Liu Xueliang, general manager of the company's Asia-Pacific automotive sales division.

The production base project is located at WHA Rayong 36 Industrial Estate and covers an area of nearly 960,000 square meters.

The plant is expected to start production in 2024 with an annual capacity of about 150,000 vehicles.

On September 8, 2022, BYD signed a land purchase agreement with Thai industrial property developer WHA Industrial Development PLC, a subsidiary of the WHA Group, to build a passenger car production plant.

The land agreement follows a set of investment commitments approved by Thailand's Board of Investment in August, including BYD's 17.9 billion baht ($491 million) electric vehicle production project.

On October 10, BYD, together with its local partner Rêver Automotive, launched the Atto 3 in Thailand, with sales of the model officially starting in November.

BYD held a delivery ceremony on March 10 for the 9,999th and 10,000th Atto 3, its first electric SUV based on the e-Platform 3.0 platform offered in Thailand.

Notably, the deliveries appear to be wholesale sales, that is, sales delivered to local dealers.

By the end of January, the Atto 3 had 1,352 registrations in Thailand, accounting for 8 percent of the 16,672 registrations of all pure electric vehicles in the country, according to BYD.

By the end of February, 3,000 BYD Atto 3 units were registered in Thailand, according to the company.

In addition to BYD, another Chinese electric vehicle company, Neta, began construction of a plant in Thailand on March 10, although it is smaller, with an annual capacity of 20,000 units.

BYD F brand to use new powertrain, targeting market with price above RMB 400,000

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China Feb EV battery installations: Total volume up 36% from Jan, CATL share down slightly

's share in February was essentially unchanged from January, while CALB's share grew significantly.

China's power battery installed base rebounded in February compared to January, though 's share declined slightly and CALB's share increased significantly.

In February, China's power battery installed base was 21.9 GWh, up 60.4 percent year-on-year and up 36.0 percent from January, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).

CATL's power battery installed base in February was 9.60 GWh, continuing to rank first with a 43.76 percent share, but down from 44.41 percent in January.

BYD installed 7.50 GWh of power batteries in February, ranking second with a 34.19 percent share, essentially unchanged from January's 34.12 percent share.

CALB saw significant market share gains in February, as the company installed 1.62 GWh of power batteries in the month, ranking third with a 7.39 percent share, up 2.46 percentage points from 4.93 percent in January.

Gotion High-tech ranked fourth with an installed base of 0.78 GWh and a 3.58 percent share in February, while Eve Energy ranked fifth with an installed base of 0.71 GWh and a 3.25 percent share.

China's ternary Li-ion battery installed base in February was 6.7 GWh, accounting for 30.6 percent of total installed base, up 15.0 percent year-on-year and up 23.7 percent from January.

The installed base of LFP batteries was 15.2 GWh, accounting for 69.3 percent of the total installed base, up 95.3 percent year-on-year and up 42.2 percent from January.

In the ternary Li-ion battery market, CATL ranked first with 65.53 percent of the total installed base of 4.40 GWh in February.

CALB and LG Energy Solution ranked second and third in the ternary battery market with 10.93 percent and 7.49 percent shares, respectively.

In the LFP battery market, BYD installed 7.50 GWh in February, topping the list with a 49.37 percent share, the second consecutive month it ranked first in this segment.

BYD's power batteries are mainly LFP batteries, which are mainly used in the company's own new energy vehicle (NEV) models.

CATL ranked second in the LFP market with 34.19 percent of the total installed base of 5.20 GWh in February.

CALB and Gotion High-tech ranked third and fourth in the LFP battery market with 5.84 percent and 4.82 percent shares, respectively.

CATL's share in global EV battery market slips in Jan, BYD rises

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