Category: China

China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900

The Model Y was the best-selling new energy SUV and the Model 3 was the best-selling new energy sedan in China last week.

(NASDAQ: LI) yesterday shared the insurance registrations of some of the car companies last week to showcase its leadership among the new car-making brands.

Local auto media outlet Dongchedi then shared the rankings they produced, providing more details.

It should be noted that the two shared slightly different data on a few of the car companies' numbers, although the differences were minor, which may have to do with their rounding practices.

In the week between June 26 and July 2, (OTCMKTS: BYDDY) had the highest number of new energy vehicle (NEV) insurance registrations in China at 54,000, according to what Dongchedi shared.

Tesla was in second place at 17,300 units. Tesla was 17,400 units in the data shared by Li Auto yesterday.

was in third place with 11,600 units last week, and Li Auto was fourth with 6,500 units.

Volkswagen's NEV sales were 3,900 units last week, ranking 8th, according to Dongchedi.

When considering only Chinese brands, BYD, GAC Aion and Li Auto were the top three, with (NYSE: NIO) in sixth place.

The Tesla Model Y was the best-selling new energy SUV in China last week with 10,800 units sold. BYD Yuan Plus and BYD Song Plus DM-i were second and third, respectively, with 6,200 and 5,700 units sold.

Li Auto's Li L7 sold 2,800 units last week, ranking 7th.

Nio's ES6 was No. 10 at 1,900 units. The new ES6 was officially launched on May 24 and still seems to be in the capacity ramp-up phase.

The Tesla Model 3 sold 6,400 units last week and was the best-selling new energy sedan in China, according to data shared by Dongchedi.

BYD Dolphin came in second with 6,100 units and GAC Aion S was third with 6,000 units.

China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100

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Li Auto raises H2 sales forecast to about 240,000 units, report says

has given its supply chain a full-year sales forecast of 240,000 units, according to local media.

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(NASDAQ: LI) has updated its second-half sales forecast after seeing strong growth in the first half of the year, a new report said.

Li Auto has told its supply chain that it is raising its second-half sales forecast to about 240,300 units, local media outlet 36kr reported today.

The extended-range electric vehicle (EREV) maker expects average monthly sales of more than 35,000 units in the third quarter and more than 42,000 units in the fourth quarter, according to the report.

Li Auto is on track to see sales of more than 380,000 units for the full year, far exceeding the 300,000 sales target set at the beginning of the year, considering it delivered 139,000 units in the first half of the year, according to the report.

Li Auto's three SUVs currently on sale -- the Li L7, Li L8 and Li L9 -- are all EREVs, which are essentially plug-in hybrids aimed at a larger market than pure electric vehicles.

In June, Li Auto delivered 32,575 vehicles, bringing first-half deliveries to 139,117 units, up 130.31 percent year-on-year, according to data released earlier this month.

Last week -- June 26 to July 2 -- Li Auto sold 6,500 units, down 13.33 percent from 7,500 units the week before, according to data shared by the company yesterday.

The drop in sales last week was due to its factory being closed for two days during the week of the Dragon Boat Festival, one more day than normal, resulting in 6,388 units produced that week, Li Auto founder, chairman and CEO Li Xiang said on Weibo yesterday.

This year's Dragon Boat Festival holiday was from June 22 to June 24.

Li Auto's current vehicles are produced at its factory in Changzhou, Jiangsu province, which Li previously mentioned has six days of production per week as well as one day of overhaul.

A total of 7,500 vehicles per week is the limit of Li Auto's current production, and the reduced production from the holiday was reflected in last week's deliveries, he said.

Starting in the second week of July, Li Auto will increase its weekly production capacity from 7,500 to 8,000 units, and the change in deliveries from this will come in the third and fourth weeks of July, he said.

Late last month, a 36kr report said Li Auto had raised its full-year sales target to 400,000 units from the original 300,000, but this was later denied by Li.

Li Auto finished the first half of the year with more than 130,000 units sold and does not have any ability to make it to 400,000 units for the full year, he said at the time.

Li Auto's battery-electric vehicle (BEVs)-focused local peers Nio (NYSE: NIO) and (NYSE: XPEV) have both largely completed product switches recently and are expected to see higher sales in the second half of the year.

Nio has given its supply chain a full-year sales forecast of 240,000 units, the 36kr report said today.

Nio management has previously said the company was aiming to double its sales this year compared to last year. It sold 122,486 vehicles last year and sold 54,561 vehicles in the first half of this year.

Nio will need to sell an average of at least 31,000 vehicles per month in the second half of the year if it is to achieve full-year sales of 240,000 vehicles.

Xpeng has previously mentioned that the goal is to see cumulative deliveries of more than 450,000 vehicles by the end of this year, implying a sales target of about 200,000 vehicles this year.

The company has seen weak sales over the past year, though deliveries have been improving month by month so far this year, with 8,620 vehicles delivered in June.

Xpeng delivered 41,435 vehicles in the first half of the year, and to see full deliveries reach 200,000 would mean it would need to deliver an average of more than 26,000 vehicles per month in the second half.

Xpeng officially launched its new SUV, the G6, on June 29, and its chairman and CEO, He Xiaopeng, said the monthly sales target for the model is at least 10,000 units.

Li Auto delivers record 32,575 vehicles in Jun, aims for 40,000 monthly deliveries in Q4

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Global EV battery market share in Jan-May: CATL 36.3%, BYD 16.1%

's battery installed base grew 59.6 percent year-on-year in January-May, while 's grew 107.8 percent year-on-year, according to SNE Research.

China's CATL and BYD (OTCMKTS: BYDDY) continued to dominate the global power battery market in the January-May period, the latest figures show.

From January to May, total global battery consumption for electric vehicles (EVs) was 237.6 GWh, up 52.3 percent from 156.0 GWh in the same period last year, according to data released today by South Korean market research firm SNE Research.

CATL installed 86.2 GWh of batteries in January-May, up 59.6 percent from 54.0 GWh in the same period last year.

The Chinese power battery giant continues to rank first in the world with a 36.3 percent share and remains the only battery supplier in the world with a market share of more than 30 percent.

This is up from its 34.6 percent share in the same period last year and up from its 35.9 percent share in the January-April period.

CATL's batteries are installed in many major passenger EV models in China's domestic market, such as the Model 3, Model Y, SAIC Mulan, Y, and ET5, as well as Chinese commercial vehicle models, and continue to grow steadily, SNE Research said.

BYD installed 38.1 GWh of power batteries from January to May, up 107.8 percent from 18.4 GWh in the same period last year.

The company ranked second with a 16.1 percent share from January to May, up from 11.8 percent in the same period last year and unchanged compared to January-April.

BYD has gained popularity in China's domestic market with its competitive pricing by establishing a vertically integrated supply chain management, including battery self-sufficiency and vehicle manufacturing, SNE Research said.

With the launch of the Atto 3 model, BYD showed explosive growth by expanding its market share outside of China in Asia and Europe, SNE Research said.

LG Energy Solution installed 33.0 GWh of power batteries from January to May, up 56.0 percent year-on-year.

The South Korean company ranked third in the world with a 13.9 percent share, slightly up from 13.6 percent a year ago and down from 14.1 percent in the January-April period.

Panasonic of Japan ranked fourth with an 8.0 percent share, SK On of South Korea ranked fifth with 5.2 percent share and CALB of China ranked sixth with a 4.3 percent share.

Samsung SDI of South Korea, China's Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth respectively, with 4.2 percent, 2.2 percent, 2.2 percent, and 1.6 percent shares in January-May.

It is worth noting that CALB's power battery installed base of 10.2 GWh continued to be higher than Samsung SDI's 9.9 GWh in January-May.

From January to March, CALB's 5.7 GWh was lower than Samsung SDI's 6.5 GWh. From January to April, CALB's 8.4 GWh exceeded Samsung SDI's 7.5 GWh.

In 2023, Chinese companies are expected to push into overseas markets such as Europe, preparing for a gradual decline in growth in China's domestic market, SNE Research said.

Europe is the largest EV market after China and is aggressively implementing environmental policies, so it is highly likely to be the biggest battleground in the future, according to SNE Research.

In the future, the proportion of LFP batteries in Europe is expected to increase as Chinese companies enter the European market in earnest, the report said.

Nio starts to get cells from WeLion, as deliveries of 150-kWh batteries set to begin in Jul

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BYD to build industrial complex with three plants in Brazil

will invest $620 million in the facility, which will include an electric bus and truck chassis plant, a new energy passenger car plant, and a processing plant specializing in LFP battery materials.

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) will invest hundreds of millions of dollars in Brazil to build an industrial complex as it steps up its efforts to expand in international markets.

The Chinese new energy vehicle (NEV) maker will set up a large production base complex of three plants in Brazil, BYD and the Brazilian state government of Bahia jointly announced on July 4, according to a statement.

The facility is located in the Brazilian city of Camacari, with a total investment of 3 billion reais ($620 million), according to a statement from BYD today.

The industrial complex includes a production plant for electric buses and truck chassis, a new energy passenger car production plant, and a processing plant specializing in lithium iron phosphate (LFP) battery materials.

The new energy passenger car production line will be able to produce pure electric and plug-in hybrid models with a planned annual capacity of 150,000 units.

The LFP battery material processing plant will utilize local port resources to meet the growing demand for new energy products in the global market, BYD said.

The industrial complex is scheduled to start production in the second half of 2024 and is expected to create more than 5,000 local jobs, according to the BYD statement.

The creation of a large production base complex in Brazil is an important milestone in BYD's development in the Americas market and will help accelerate the penetration of NEVs there, said BYD Americas president Stella Li.

In October 2022, BYD signed a letter of intent with the Bahia state government to build a vehicle production facility in the industrial area left behind by Ford after it closed its plant outside the city's capital, El Salvador.

The Bahia state government said at the time that BYD would build electric bus and truck chassis, as well as electric and hybrid cars, at three plants, and would also process Brazilian lithium for car battery exports to China.

"We have been in Brazil for almost 10 years. We have experienced many political changes in this period, in addition to exchange rate fluctuations, and inflation. But I think that in the long term, Brazil has its own advantages," Li said at the time.

BYD is now bringing its passenger cars to international markets, launching the Dolphin in Brazil on June 28, its fifth model in the country after the Tang EV, Han EV, Yuan Plus EV and Song Plus DM-i.

In addition to NEVs, BYD is already producing photovoltaic modules in Brazil.

On October 21, 2022, the company announced that BYD Energy Brazil's cumulative production of PV modules surpassed 2 million, after five years of local operations.

Last April, BYD opened a new PV module production line at its Campinas, Brazil, plant that is compatible with all sizes of PV cells currently on the market, allowing for increased productivity and efficiency.

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BYD launches Dolphin in Brazil, enters South African EV market with Atto 3

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Denza N7 gets 11,687 firm orders in 24 hours after launch

Denza officially launched the Denza N7 on July 3, targeting the market where Model Y is located with a starting price of RMB 301,800.

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The first SUV model of 's premium new energy vehicle (NEV) brand Denza seems to have gained good initial acceptance.

The Denza N7 SUV received 11,687 firm orders 24 hours after its official launch, Denza announced on Weibo late yesterday night.

Denza is a joint venture between BYD and Mercedes-Benz, each holding a 50 percent stake at the time of its inception. BYD increased its stake in Denza to 90 percent last year.

The brand officially launched the Denza N7, its second model since rebranding, at a launch event in Beijing on July 3, with a starting price of RMB 301,800 ($44,220) aimed at the market where the Tesla Model Y is located.

Prior to the launch of the N7, Denza was offering only the D9, an MPV that went on sale in August 2022 and was officially delivered in October last year.

The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm, respectively, and a wheelbase of 2,940 mm.

For comparison, the Tesla Model Y is slightly smaller, measuring 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.

The Model Y is currently offered in three versions in China with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively. The Tesla model was the best-selling SUV in China from January to May.

The Denza website currently shows four versions of the N7 with starting prices of RMB 319,800, RMB 339,800, RMB 349,800 and RMB 379,800 respectively.

All four versions are equipped with DiSus-A, an intelligent air body control system, which was unveiled by BYD on April 10 and is similar to the air suspension currently used in many high-end vehicles.

Customers who do not need the system reduce the price of the vehicle by RMB 18,000, resulting in these two Air versions priced at RMB 301,800 and RMB 321,800.

On the first day of the Shanghai auto show on April 18, Denza started pre-sales for the N7, although pricing information had not been released at that time.

In early June, Zhao Changjiang, general manager of Denza's sales division, said the Denza N7 had over 20,000 pre-orders before specifications and pricing were announced, and that 55 percent of these order holders were owners of luxury brands including Mercedes-Benz, BMW and Audi, and 35 percent were existing owners of BYD and Denza.

The Denza N7 opened for test drives on July 4 and deliveries are set to begin in mid-July.

In June, Denza delivered 11,058 vehicles, the fourth consecutive month to exceed the 10,000-unit mark, according to BYD data released on July 2.

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Denza launches N7 SUV to take on Tesla Model Y as brand gains momentum

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Nio opens innovation center in Berlin to boost local R&D of software

Berlin innovation center will help 's electric vehicles get smarter in Europe and worldwide, the company said.

(Image credit: Nio)

Nio (NYSE: NIO) has opened an innovation center in Berlin, Germany, as the Chinese electric vehicle (EV) company ramps up its European presence.

The innovation center, which officially opened on July 4, is located at Rotherstraβe 19, 10245 Berlin and covers 1,500 square meters, according to an announcement posted yesterday on Nio's mobile app for Europe.

This is the first Nio R&D center in Europe, and five different teams will work on software development for Nio products and technologies from now on, according to the announcement. The company has a global design center in Munich.

The innovation center is also responsible for localization and software testing, with focus areas including autonomous driving, digital systems, digital architecture, digital cockpit, user experience, user interface and in-car voice assistance system NOMI, according to Nio's announcement.

The new innovation center in Berlin complements existing software development centers in Beijing and San Jose, where Nio has developed about 50 percent of its software.

The innovation center's development team consists of more than 25 employees from 11 different countries, Nio said. Late last month, the company said Nio employs more than 1,300 people in Europe, most of them located in Germany.

The innovation center in Berlin will also serve as a research and development center for Nio Power and as an operations control center for all European battery swap stations, Nio said.

Nio is bringing its entire service system from China to Europe, including the iconic battery swap stations. As of June 30, Nio had 18 battery swap stations in Europe.

On September 16, 2022, Nio announced that its Nio Power Europe Plant in Budapest, Hungary, saw the first battery swap station roll off the assembly line.

The Berlin innovation center location was specifically chosen to attract Europe's top talent in software development, machine learning, artificial intelligence and voice systems.

With Nio's smart technology and the Berlin innovation center, the company's EVs will become smarter not only in Europe, but also worldwide, said Zhang Hui, vice president of Nio Europe.

Users can give feedback to NOMI directly from inside the vehicle, and the Berlin innovation center will help better respond to the desires of German and European customers, Nio's announcement said.

Nio is strengthening its partnerships with local suppliers to deliver better infotainment systems.

In the video-on-demand space, Nio has expanded its partnerships with companies such as Spotify, Nvidia, Bosch and Qualcomm. With a software over-the-air update, Nio now welcomes ScreenHits as a video-on-demand technology for European users, it said.

ScreenHits TV, a UK-based streaming provider, gives users in Europe access to video-on-demand content in 59 countries and 30 languages, according to Nio.

NIO's William Li attends high-level Sino-German meetings as Chinese Premier visits Europe

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Nio ES6 wait time gets longer, ES7, ET7, ET5 Touring gets shorter

had sales of 4,100 units last week, up 28.13 percent from 3,200 units the week before.

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Nio's (NYSE: NIO) new ES6 has a slightly longer wait time in China, while the three other models are slightly shorter.

Customers locking in orders for the Nio ES6 are now expected to get deliveries in 3-6 weeks, slightly higher than the previous 3-4 weeks, information from the Nio App monitored by CnEVPost shows.

Nio officially launched the new ES6, its lowest-priced SUV, in China on May 24, with a current starting price of RMB 338,000 ($46,800), and its deliveries began on the night of the launch.

The last change in the Nio ES6 wait time was on June 26, when it went from about 5 weeks to 3-4 weeks.

Wait times for both the Nio ES7 SUV as well as the ET7 sedan both changed to 6-7 weeks today, slightly lower than the previous 6-8 weeks.

Nio launched the ES7 on June 15, 2022, with the first delivery on August 28, 2022.

The ES7 is Nio's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on this second-generation platform, with a starting price of RMB 438,000 including battery.

Originally launched at the Nio Day 2020 event on January 9, 2021, the Nio ET7 is the company's first sedan, with deliveries beginning on March 28, 2022.

On the first day of the Shanghai auto show on April 18, Nio launched the 2023 ET7, with prices currently starting at RMB 428,000. Deliveries of the new ET7 began on May 19.

On June 26, the wait time for both the ES7 and ET7 went from about 3 weeks to 6-8 weeks.

The latest wait time for the ET5 Touring is about 3 weeks, slightly lower than the previous 3-4 weeks.

Nio officially launched the ET5 Touring in China on June 15 with the same price as the regular ET5, starting at RMB 298,000.

ET5 Touring deliveries in China started on June 15.

Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, although down 17.39 percent from 12,961 in the same month last year, according to figures it announced on July 1.

Last week -- June 26 to July 2 -- Nio sold 4,100 units, up 28.13 percent from 3,200 units the week before, according to data shared by (NASDAQ: LI) yesterday.

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Data table: Latest wait times for Nio models after Jul 5 changes

(Screenshots on July 5, 2023)

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GAC Aion’s Hyper brand launches Hyper GT sedan, offers battery swap-enabled version

The battery swap-enabled trim of the Hyper GT starts at RMB 239,900, which Hyper claims can replace the battery in as little as two minutes.

(Image credit: CnEVPost)

Hyper -- a new brand launched by last September -- has introduced the Hyper GT sedan, one version of which supports battery swap.

Hyper officially rolled out the Hyper GT in China on Monday, the brand's first production model and the 20 millionth new energy vehicle produced in China.

The Hyper GT is available in five versions with starting prices of RMB 219,900 ($30,370), RMB 245,900, RMB 239,900, RMB 259,900, and RMB 339,900 respectively.

The version with a starting price of RMB 239,900 supports battery swap, which Hyper claims can replace the battery in as little as two minutes.

Consumers can purchase the car using a battery rental model similar to , which reduces the price of the car by RMB 70,000, and pay a monthly battery lease fee of RMB 980.

The Hyper GT is an all-electric mid-size sedan based on the new AEP 3.0 platform from GAC Group, of which GAC Aion is a subsidiary.

The model measures 4,880 mm in length, 1,885 mm in width and 1,455 mm in height, and has a wheelbase of 2,920 mm.

The Hyper GT is powered by a single electric motor with a maximum power of 250 kW and a peak torque of 434 Nm, and accelerates from 0 to 100 km/h in 4.9 seconds.

The two higher-priced versions of the car support 800 V high-voltage fast charging for a range of 450 km on a 15-minute charge. The model has a maximum range of 710 km.

The Hyper GT comes with the L2++ Adigo Pilot 4.0 intelligent driving system for all-weather, all-road city and highway kilometer assisted driving, Hyper said.

GAC Aion previously offered mainly the Aion series, targeting the mass market, such as the Aion S sedan with a price range of RMB 139,800 to RMB 172,800.

On September 15, 2022, the company unveiled its new premium brand Hyper, and its first model, the Hyper SSR supercar, to enter the higher end of the market.

GAC Aion is offering two versions of the Hyper SSR, with the regular version priced at RMB 1.286 million pre-sale and capable of accelerating from 0 to 100 km/h in 2.3 seconds.

The other version, Hyper SSR Ultimate, is priced at RMB 1,686,000 and can accelerate from 0 to 100 km/h in 1.9 seconds.

The model, the fastest accelerating car on the planet, will begin mass production and delivery in October 2023, GAC Aion said at the time.

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GAC Aion sells 45,013 vehicles in Jun, 4th straight month over 40,000

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BYD’s new brand Fang Cheng Bao names debut model Leopard 5

Leopard 5 is said to be equipped with 's new powertrain DM-o, which is expected to combine the technical advantages of DM-i and DM-p.

BYD's new sub-brand Fang Cheng Bao continues to warm up with the announcement of the official name of its first model.

Fang Cheng Bao's first model is named Leopard 5 ("豹5" in Chinese), the brand said today on Weibo.

BYD officially announced the name of its Fang Cheng Bao brand on June 9, the fifth in its brand matrix after the Dynasty series, Ocean series, Denza and Yangwang.

The Fang Cheng Bao brand name literally translates to "Formula" and "Leopard," symbolizing the pursuit of a transformative rise and exploration of the digital realm, BYD said.

BYD has previously used the code SF to refer to the first model of the new brand, saying it is a hardcore SUV expected to launch this year.

BYD has not provided pricing information on Fang Cheng Bao's first model in its previews over the past few months, though CnEVPost previously learned that the model will target a market priced between RMB 400,000 ($55,410) and RMB 600,000.

Xiong Tianbo, former head of BYD auto's sales research institute, will be the general manager of the brand's sales division, leading the brand's product planning, channel sales and brand building, a company insider previously told CnEVPost.

Rumors have recently surfaced that Fang Cheng Bao's first model will be equipped with BYD's DM-o powertrain, which will be the third BYD hybrid system in addition to DM-i and DM-p.

Currently about half of BYD's monthly sales are battery electric vehicles (BEVs) and the other half are plug-in hybrid vehicles (PHEVs).

Among the PHEVs, the DM-i focuses more on fuel economy, while the DM-p focuses more on performance.

The DM-o is expected to combine the technical advantages of the DM-i and DM-p, and can provide the vehicle with a total sum range of up to 1,200 km and a total powertrain power of up to 500 kW, according to recent reports in several local media.

BYD officially names F brand Fang Cheng Bao, initial model to be launched this year

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