Category: China

Voyah secures $2.1 billion in credit lines from 6 local banks

Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.

(A Voyah Zhuiguang on display at the Shanghai auto show. Image credit: CnEVPost)

Voyah, Dongfeng Motor's new energy vehicle (NEV) brand, has received RMB 15 billion yuan ($2.1 billion) in credit lines from six local banks, setting it up for future expansion.

Voyah held a signing ceremony for the partnerships with the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China CITIC Bank and China Merchants Bank.

Voyah will invest more in product development and marketing and launch more quality products, its CEO Lu Fang said, according to a press release.

The NEV maker has completed its Series A financing and will next raise Series B, Local media Shanghai Securities News quoted Voyah CFO Shen Jun as saying.

Voyah has plans for an initial public offering, and it will have more than 300 core employees holding shares, Shen said.

Voyah is the brand Dongfeng Motor announced in late 2020, when the first model, Voyah FREE, was also unveiled.

The Voyah FREE went on sale in China in June 2021 and is available in an extended-range electric vehicle (EREV) version as well as an all-electric version, with current starting prices of RMB 333,600 to 393,600 respectively.

On May 7, 2022, Voyah's second model, the Dreamer MPV, was launched with a starting price of RMB 369,900.

In November 2022, Voyah announced the completion of RMB nearly 5 billion Series A financing, valuing it at nearly RMB 30 billion.

On April 18 of this year, Voyah launched the Zhuiguang sedan on the first day of the Shanghai auto show, offering three versions with a starting price of RMB 322,900.

Voyah has had a lukewarm sales performance over the past two years, selling 3,003 vehicles in May, bringing combined January-May sales to 12,024 units.

For comparison, (NASDAQ: LI), which currently only offers EREVs, delivered 28,277 vehicles in May for a combined January-May total of 106,542 vehicles.

($1 = RMB 7.1631)

Voyah deliveries in May: 3,003

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Li Auto to hold 1st ‘Family Tech Day’ on Jun 17

's poster hints that it may announce developments related to its assisted driving system NOA, and a battery that supports ultra-fast charging.  |  Li Auto US | Li Auto HK

(NYSE: NIO) and (NYSE: XPEV) both have their own signature annual events, NIO Day and 1024 Tech Day, respectively and now Li Auto (NASDAQ: LI) is creating a similar one.

Li Auto will hold its first Family Tech Day event on Saturday, June 17, starting at 20:00, the extended-range electric vehicle (EREV) maker announced on its social media accounts yesterday.

The company's poster yesterday mentioned the words "5C" and "NOA," hinting that it may announce progress on a battery that supports ultra-fast charging, as well as its NOA (Navigation on ADAS) system.

"Li Auto's Family Tech Day launch ushers in the era of dual-energy," its poster reads.

Li Auto has been targeting family users, and the three SUV models currently on sale -- Li L7, Li L8 and Li L9 -- are designed to cater to such groups.

On April 18, Li Auto unveiled its all-electric solution on the first day of the Shanghai auto show, saying that the company has officially entered the dual-energy era, a phase in which the EREV and battery electric vehicle (BEV) product lines are developing in parallel.

The company's all-electric solution is based on an 800 V high-voltage platform that enables a BEV to get 400 kilometers of range on a 10-minute charge, it said at the time.

By 2025, Li Auto's product array will include a super flagship model, five EREVs, and five BEVs, it said.

Li Auto's first all-electric model will be the world's first to feature 's 4C Qilin Battery, it said at the launch in April. The model is expected to be an MPV to be released by the end of the year.

C refers to the battery's charging multiplier, and 4C means that the pack can theoretically be fully charged in a quarter of an hour.

It's worth noting that when Li Auto previewed its Family Tech Day on May 31, it poster showed text that included "4C".

In the poster released yesterday, that text was changed to "5C," perhaps implying that it will use a faster-charging CATL battery.

In terms of assisted driving software, Li Auto announced its latest generation of assisted driving system, AD Max 3.0, on April 18, and said the software will be free for life.

Li Auto's current assisted driving systems include AD Max and AD Pro. AD Max 2.0 is powered by NVIDIA's Orin X chip and Hesai's LiDAR, while AD Pro 2.0 is powered by Horizon Robotics' Journey 5 chip.

AD Max 3.0's all-scenario NOA will begin internal testing this quarter and will cover more than 100 cities by the end of the year, Li Auto previously said.

Li Auto delivers record 28,277 vehicles in May, surpassing RMB 10 billion in monthly revenue for 1st time

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Tesla Model Y best-selling SUV in China in May with 31,054 units sold

From January to May, the Model Y sold 152,461 units at retail in China, up 87.03 percent year-on-year, and was also the best-selling SUV in China during the period.

's (NASDAQ: TSLA) Model Y was again the best-selling SUV in China in May, with the Model 3 also doing well in a sedan ranking.

Model Y retail sales in China in May were 31,054 units, up 428.58 percent year-on-year and up 16.05 percent from April, according to a ranking released yesterday by the China Passenger Car Association (CPCA).

This makes the Model Y the best-selling SUV in China in May, ahead of the second-place Yuan Plus with 26,072 units and the third-place BYD Song Plus with 22,079 units.

It is worth noting that the BYD Song family was considered as one model in the CPCA's previous rankings. The family includes the Dynasty Series Song Pro and Song Max, as well as the Ocean Series Song Plus.

Song Pro retail sales in May were 13,501 units, placing it at No. 9 in the ranking.

From January to May, Model Y retail sales in China were 152,461 units, up 87.03 percent year-on-year, making it the best-selling SUV in China during this period.

The BYD Song Plus ranked second with 149,485 units in January-May, and the BYD Yuan Plus ranked third with 117,531 units.

Model 3 retail sales in China in May were 11,454 units, up 189.97 percent year-on-year, but down 13.20 percent from April.

The Tesla sedan did not make the top 20 list of best-selling sedans in May, with the 20th place on the list being the Mercedes-Benz C-Class at 11,929 units.

The Model 3 was fifth on the list of premium sedan sales in May. The Mercedes-Benz E-Class was No. 1 with 14,600 units, the BMW 3 Series was No. 2 with 14,009 units and the Audi A6L was No. 3 with 13,154 units.

From January to May, Model 3 retail sales in China were 67,432 units, up 76.89 percent year-on-year, making it the best-selling premium sedan during this period.

The Audi A6L ranked second with 64,272 units from January to May, and the Mercedes-Benz E-Class ranked third with 61,244 units.

Tesla has a factory in Shanghai that produces the Model 3 and Model Y. Their combined retail sales in China in May were 42,508 units, ranking third in China's NEV market with a 7.3 percent share, according to data released by the CPCA on June 9.

Tesla's Shanghai plant exported 35,187 vehicles in May, up 57.51 percent year-on-year, but down 1.95 percent from April, data monitored by CnEVPost showed.

Tesla delivers 42,508 vehicles in China in May, taking 7.3% share of NEV market

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NIO ES7, EC7, ET7 wait times become shorter

Wait times for the ES7 have gone from 3-4 weeks to about 3 weeks, the EC7 from about 5 weeks to about 4 weeks and the ET7 from 3-4 weeks to about 3 weeks.

(Image credit: CnEVPost)

NIO's (NYSE: NIO) three 7-series models have slightly shorter wait times in China, after the electric vehicle maker lowered prices on its entire lineup yesterday.

The latest wait time for the NIO ES7 SUV is about 3 weeks, slightly lower than the previous 3-4 weeks, the latest check of the NIO App by CnEVPost today shows.

NIO launched the ES7 on June 15, 2022, the company's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on the second-generation platform. The first delivery of the NIO ES7 was on August 28, 2022.

The model's last wait time change was on June 5, when it went from about 3 weeks to 3-4 weeks.

The latest wait time for the NIO EC7 coupe SUV is about 4 weeks, compared to about 5 weeks previously.

The EC7 was launched on NIO Day 2022, December 24, 2022, with the first delivery on April 28 of this year.

The model's last wait time change was on June 1, when it went from 5-7 weeks to about 5 weeks.

The latest wait time for the NIO ET7 is around 3 weeks, down from the previous 3-4 weeks.

On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7 at the same price as the previous version. Deliveries of the new ET7 began on May 19.

The last change in ET7 waiting time was on June 5, when it went from about 3 weeks to 3-4 weeks.

Wait times for other NIO models remain unchanged today, with the expected delivery date for the new ES8 still showing June, the new ES6 at around 5 weeks and the ET5 at around 3 weeks.

NIO yesterday lowered the starting prices for all models by RMB 30,000 ($4,200) and made the previously free battery swap benefit a paid option.

($1 = RMB 7.1456)

Data table: Latest wait times for NIO models after Jun 13 changes

(Screenshots on June 13.)

The post NIO ES7, EC7, ET7 wait times become shorter appeared first on CnEVPost.

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Zhang Fan, GAC’s Chief Designer: Discussing the Evolution of Chinese Car Design over 30 Years

Start a week with our recent chat with GAC's Chief Designer, as he shares insights on his journey and the future of car design. Must-read for everyone interested in automotive innovation.

The post Zhang Fan, GAC’s Chief Designer: Discussing the Evolution of Chinese Car Design over 30 Years appeared first on CarNewsChina.com.

CATL launches battery swap solution Qiji Energy for heavy-duty trucks

In the Qiji Energy solution, a single battery block has a capacity of 171 kWh and heavy-duty trucks can choose to use 1-3 blocks.

Chinese power battery giant has unveiled a battery swap solution for heavy-duty trucks, following the release of a similar solution for passenger cars early last year.

CATL unveiled the Qiji Energy solution, consisting of battery swap stations, battery blocks and a cloud platform, at an online launch event today.

The battery swap stations for heavy trucks use adaptive tuning technology and cover the full wheelbase of heavy trucks.

The battery blocks, or electric blocks, are powered by CATL's third-generation lithium iron phosphate batteries with no heat dispersion technology and a cycle life of over 15,000 cycles.

Similar to EVOGO's Choco-SEB (swapping electric block), which it released last year, the solution for heavy trucks supports flexible use of the number of batteries in the vehicle.

With a single electric block capacity of 171 kWh, heavy trucks can choose to use 1-3 blocks, and the entire battery replacement process takes only a few minutes.

The cloud platform helps drivers make battery swap service appointments, plan driving routes and allows CATL to manage assets.

In a vehicle-battery separation model, a heavy truck can save between RMB 30,000 (US$4,200) and RMB 60,000 in annual costs, CATL said.

On January 18, 2022, CATL officially announced EVOGO, the battery swap brand for passenger cars, primarily for the shared mobility market.

EVOGO offers a battery swap solution consisting of battery blocks, fast battery swap stations, and an app.

The battery block, called Choco-SEB by CATL, is a mass-produced battery developed specifically for shared mobility, allowing consumers to select one or more batteries to match their mileage needs.

The battery block can be adapted to 80 percent of the world's models already on the market and those developed on all-electric platforms that will be available in the next three years, CATL said at the time.

On June 6, CATL said EVOGO's battery swap service became available in Fuzhou, the capital of Fujian province, with the first three battery swap stations already in operation. Prior to that, the service was already available in Xiamen, Hefei and Guiyang.

($1 = RMB 7.1424)

CATL unveils module to bracket battery technology for heavy trucks

The post CATL launches battery swap solution Qiji Energy for heavy-duty trucks appeared first on CnEVPost.

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