The Baojun Yep will hit the market in June this year with a price tag about of 14,000 USD. It has 68 hp and 303 km of range.
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Category: China
New auto index launched in HK stock market with constituents including BYD, NIO, XPeng, Li Auto
The Hang Seng Indexes Company Limited launched the Hang Seng Automobile Index today with a year-to-date return of about 9 percent.
A new index is now available for investors who wish to track the performance of the Chinese auto industry chain in the stock market.
The Hang Seng Indexes Company Limited (HSI) today announced the launch of three new indices, including the Hang Seng Automobile Index.
"The Hang Seng Automobile Index aims to reflect the overall performance of companies that are engaged in the value chain of automobile production, and are listed in Hong Kong," the description on the HSI website reads.
The new index -- calculated and disseminated in real-time at two-second intervals -- had a return of 9.26 percent for the year to last Friday. As of press time, the index was up 0.69 percent today.
The Hang Seng Automobile Index has a fixed component of 30 stocks and will be reviewed every six months.
The index's current constituents include car companies such as BYD, NIO, XPeng, Li Auto, Leapmotor, Geely, Great Wall Motors, and GAC Group, as well as suppliers such as LK Technology and Fuyao Glass.
The description page on the HSI website does not provide information on the weighting of these constituents in the index.
The index has a base period of December 31, 2019, with a base value of 3,000 points and is currently quoted at 3,272.24 points.
At press time, NIO was down 2.3 percent to HK$63.60 in Hong Kong, XPeng down 2.03 percent to HK$38.55, Li Auto down 0.96 percent to HK$113, BYD was flat and Leapmotor was up 1.47 percent to HK$34.55.
Hang Seng Automobile Index
| Stock Code | Constituent Name | ||||
|---|---|---|---|---|---|
| A Shares | B Shares | H Shares | Red Chips | Others | |
| 1958 | BAIC MOTOR | ||||
| 9888 | BIDU - SW | ||||
| 710 | BOE VARITRONIX | ||||
| 1211 | BYD COMPANY | ||||
| 285 | BYD ELECTRONIC | ||||
| 489 | DONGFENG GROUP | ||||
| 3606 | FUYAO GL ASS | ||||
| 2238 | GAC GROUP | ||||
| 1772 | GANFENG LITHIUM | ||||
| 175 | GEELY AUTO | ||||
| 2333 | GREATWALL MOTOR | ||||
| 179 | JOHNSON ELEC H | ||||
| 148 | KINGBOARD HLDG | ||||
| 9863 | LEAPMOTOR | ||||
| 2015 | LI AUTO - W | ||||
| 558 | LK TECH | ||||
| 425 | MINTH GROUP | ||||
| 1316 | NEXTEER | ||||
| 9866 | NIO - SW | ||||
| 1478 | Q TECH | ||||
| 20 | SENSETIME - W | ||||
| 3808 | SINOTRUK | ||||
| 2382 | SUNNY OPTICAL | ||||
| 819 | TIANNENG POWER | ||||
| 9696 | TIANQI LITHIUM | ||||
| 3898 | TIMES ELECTRIC | ||||
| 2338 | WEICHAI POWER | ||||
| 868 | XINYI GLASS | ||||
| 9868 | XPENG - W | ||||
| 1585 | YADEA | ||||
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Huawei’s AITO M9 flagship SUV fan render images revealed in China
The AITO M9 is a full-size luxury SUV that will hit the Chinese market in Q4 2023 with a starting price of 71,800 USD.
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NIO exceeds 1,400 swap stations in China
NIO's 1,400th battery swap station in China was built with German retail giant METRO, and the two have built a total of 21 such facilities together to date.
(Image credit: NIO)
NIO (NYSE: NIO) has surpassed 1,400 battery swap stations in China, as deployment of its third generation of the facility accelerates.
The electric vehicle (EV) maker today put eight new battery swap stations into operation, bringing the total to 1,403, with 374 of them located along highways, according to an article it posted today on the NIO App.
NIO's 1,400th battery swap station in China is located next to a store of German retail giant METRO in Shanghai, and is the 61st third-generation battery swap station of the EV maker.
The partnership between NIO and METRO began two years ago when the two signed a strategic cooperation agreement on March 29, 2021, to collaborate on the construction of charging stations and battery swap stations.
To date, 21 battery swap stations have been jointly built by the two companies, NIO said today.
NIO's owners have used battery swap services more than 22 million times, averaging nearly 50,000 times a day, and on average, a vehicle receives a fully charged battery from a battery swap station every 1.9 seconds, NIO said.
In addition to providing replenishment services, these battery swap stations have provided a total of 76,131 battery upgrades to owners, according to the article.
NIO allows owners to upgrade their standard-range battery packs to 100 kWh long range packs on a monthly, annual, or permanent basis.
On March 3, NIO began offering incentives to encourage owners to upgrade their battery packs to long-range ones.
At the NIO Day 2022 event on December 24, 2022, NIO's third-generation battery swap station was launched, capable of storing up to 21 packs, up from 13 in its previous generation and 5 in the first generation of that facility.
NIO announced plans at the time to add 400 battery swap stations in 2023, though that plan was raised to 1,000 on February 21.
William Li, NIO's founder, chairman and CEO, said at the time that the company would further accelerate the deployment of battery swap stations, with a goal of having more than 2,300 battery swap stations in China by the end of 2023.
NIO's first 10 third-generation battery swap stations went live in 10 Chinese cities on April 12.
On April 18, Li said on the first day of the Shanghai auto show that NIO will add about 200 battery swap stations every month starting in June.
As of May 15, NIO also had 2,580 charging stations in China, offering 15,312 charging piles. The company's charging map has access to more than 7,000,000 third-party charging stations.
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Eve Energy to buy land for battery plant in Malaysia
The battery plant will support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia, Eve Energy said.
(Image credit: Eve Energy)
Chinese lithium battery maker Eve Energy will build a new battery factory in Malaysia, just days after announcing it would build a plant in Hungary.
Eve Energy Malaysia, the Malaysian arm of Eve Energy, signed a memorandum of understanding with Pemaju Kelang Lama Sdn Bhd (PKL) on May 12 to buy land from the latter to set up a lithium battery manufacturing plant in Malaysia, according to a stock exchange announcement.
The land is 66.58083 acres (26.9 hectares) and the price is 164 million ringgit ($36.6 million), according to the May 12 announcement.
The signing of the MOU marks the effective advancement of Eve Energy's cylindrical lithium battery manufacturing project, which will further meet the company's need to scale up its cylindrical battery capacity, the announcement said.
The battery plant will support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia, and continue to consolidate and enhance the company's presence in these areas, Eve Energy said.
Eve Energy, one of the world's largest power battery manufacturers, installed 2.4 GWh of batteries worldwide in the first quarter, up 75.5 percent year-on-year, according to data released by South Korean market research firm SNE Research on May 3.
This puts Eve Energy in 9th place globally with a 1.8 percent share, while CATL and BYD are the top two with 35.0 percent and 16.2 percent shares, respectively.
The announcement comes two days after Eve Energy announced on May 10 that its subsidiary EVE Power Hungary had signed an agreement with Debreceni, a subsidiary of the Hungarian government of Debrecen, to purchase land owned by the latter in the city's northwest industrial zone for the production of cylindrical power cells.
The land in Hungary covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million).
The deal will meet the company's need for production land for future growth and further expand its capacity for power and energy storage batteries, Eve Energy said at the time.
Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.
($1 = 4.4755 ringgit)
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New entry-level Changan Shenlan SL03 exposed, price starts at 20,100 USD
The new electric version will have a 610 km range while the new range extender version will have a 100 km range.
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BYD to supply batteries to China’s largest diesel engine maker
BYD and Weichai Power will build a power battery development and manufacturing base in Shandong province, where the latter is headquartered.
(Image credit: CnEVPost)
BYD (OTCMKTS: BYDDY), one of the world's largest manufacturers of power batteries, is expanding its customer base.
BYD and Weichai Power, China's largest diesel engine maker, signed a strategic cooperation agreement in Shenzhen on May 12 to collaborate on the joint production of power batteries, according to a post by the latter on Weibo.
Tan Xuguang, chairman and CEO of Weichai, and Wang Chuanfu, chairman and president of BYD, attended the signing ceremony, according to the article.
(Image credit: Weicai Power)
The two sides will produce power batteries in a joint venture in Shandong to build a power battery R&D and manufacturing base to promote the development of new energy commercial vehicles in China, the article said, without providing further details.
Weichai, based in Weifang, Shandong province, posted revenue of RMB 53.4 billion ($7.67 billion) and net profit of RMB 1.86 billion in the first quarter, according to its financial report.
Weichai began its involvement in the new energy business in 2010, especially in the fuel cell sector.
The company has a new energy engine base in Weifang, and its chairman, Tan, is also chairman of Sinotruk, which has a new energy heavy truck manufacturing base in Jinan.
BYD is the world's largest maker of new energy vehicles (NEVs) and the world's second-largest maker of power batteries.
BYD installed 21.5 GWh of power batteries in the first quarter, ranking second globally with a 16.2 percent share, behind CATL's 35.0 percent, according to data released earlier this month by South Korean market research firm SNE Research.
In China, BYD installed 7.32 GWh of power batteries in April, ranking second with a 29.11 percent share, according to the China Automotive Battery Innovation Alliance (CABIA). CATL ranked first in China with a 40.83 percent share in April.
In Shandong, where Weichai is headquartered, BYD has a car assembly plant, a power battery factory and a chip factory.
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China EV battery installations in Apr: BYD regains top spot over CATL in LFP market
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Neta begins deliveries of electric sports car Neta GT, less than 1 month after launch
In the increasingly competitive Chinese EV market, EV makers are hoping to capture initial consumer enthusiasm and avoid losing potential orders.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, has begun deliveries of its electric sports car Neta GT, less than a month after the model's official launch, to capitalize on the initial hype.
Neta held a delivery ceremony in Shanghai on May 13 to deliver the first Neta GT EVs to owners, it announced on May 14.
Notably, the two-door, four-seat Neta GT electric sports car was only officially launched on the first day of the Shanghai auto show on April 18, with starting prices of RMB 178,800 ($25,700) to 227,800.
Neta's move to have the Neta GT begin deliveries within a month of its launch demonstrates the desire of EV makers to capture initial consumer enthusiasm and avoid losing potential orders in the increasingly competitive Chinese EV market.
The fact that Neta GT deliveries began shortly after launch validates the company's comprehensive strengths in vehicle development and design, manufacturing, and channel building, Neta said.
(Image credit: Neta)
Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with previous mainstay models Neta V and Neta U priced at around RMB 100,000 to RMB 150,000 in China.
The Neta S is Neta's first effort in the high-end market, priced at around RMB 300,000, and the launch of the Neta GT is expected to further start changing the brand's low-end perception among consumers.
The Neta GT is Neta's second model based on the Shanhai platform after the flagship sedan Neta S. It measures 4,715 mm in length, 1,979 mm in width and 1,415 mm in height, and has a wheelbase of 2,770 mm.
(Image credit: CnEVPost)
The Neta GT is available in single-motor and dual-motor versions, with the single-motor version having a maximum motor power of 170 kW and the dual-motor version having a maximum total power of 340 kW.
The car's battery pack is available in three options -- 64.24 kWh, 74.48 kWh and 77.9 kWh -- and the CLTC range includes three versions -- 560 km, 580 km and 660 km.
In addition to the Neta GT, Neta also gave a debut to a model called Neta GT Speedster, a convertible based on the Neta GT, at the Shanghai auto show.
(Image credit: CnEVPost)
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NIO ET5 touring spotted in real life in China uncamouflaged
The NIO ET5 touring with a green exterior is seen for the first time. Yellow and blue versions of the model have already been seen in Europe, while the black version appeared in a regulatory filing in China.
The NIO ET5 touring is on the streets of China without camouflage, after the model was seen in Europe in recent days.
A WeChat user shared three images of the NIO ET5 touring without camouflage in a group chat where CnEVPost is present, showing a green version of the model.
This is the first time the NIO ET5 touring with a green exterior has been seen. Yellow and blue versions of the model have already been seen in Europe, while the black version appeared in a regulatory filing in China.
It is not clear in which Chinese city the NIO ET5 touring was photographed, and the temporary number plate affixed to its rear window is illegible.
On March 9, China's Ministry of Industry and Information Technology announced the latest batch of models that will be allowed to be sold in China, and the NIO ET5 touring was included.
The model in the catalog was in black exterior and 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 regular ET5 sedan.
The NIO ET5 touring 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.
On May 9, CnEVPost obtained two spy shots of the NIO ET5 touring, showing the model on the streets of Europe, with the yellow color exclusive to the ET5 sedan sold in China.
On May 12, auto blogger Delu shared multiple images of a blue NIO ET5 touring on the NIO App, saying that NIO was filming a promotional video for the model in Norway.
The NIO ET5 touring is expected to make its official debut in Europe in June, with the launch in China likely to come a little later.
NIO co-founder and president Qin Lihong said in January that this variant of the ET5 would debut in Europe, where the model was developed primarily for European consumers.
Derivatives of sedans have been a niche market in China, and few car companies have tried to tap into it before.
Geely's electric vehicle (EV) brand Zeekr unveiled its first model, the Zeekr 001, on April 15, 2021, the first such model released by a local brand, with deliveries starting in October 2021.
The Zeekr 001 was an unexpected success in China, with 71,941 units delivered in the full year 2022.
Zeekr positions the Zeekr 001 as a shooting brake sedan, while NIO emphasizes that this NIO ET5 variant is a touring model.
NIO filming ET5 touring promo in Norway, more images revealed
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Largest US pension cuts stake in NIO, liquidates Li Auto in Q1
CalPERS liquidated its position in XPeng in the third quarter of 2022.
The largest US public pension continued to trim its investment in Chinese electric vehicle (EV) stocks in the first quarter.
The California Public Employees' Retirement System (CalPERS) owned 2,210,446 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F report dated May 12.
This is down 390,806 shares, or 15.02 percent, from 2,601,252 at the end of the fourth quarter of 2022.
The pension's holdings in NIO were worth $23.23 million at the end of the first quarter, down 8.4 percent from 25.36 million at the end of the fourth quarter.
CalPERS now has about $440 billion in assets under management and is the largest public pension in the US. It opened a position in NIO in the first quarter of 2019, when it bought 140,451 shares. NIO went public in the US on September 12, 2018.
CalPERS cut its position in NIO by 10.79 percent in the fourth quarter of last year. The value of the pension's holdings in NIO fell 44.85 percent during the fourth quarter due to a large drop in NIO's stock price during the period.
In the third quarter of 2022, CalPERS liquidated its position in XPeng (NYSE: XPEV) while increasing its stake in NIO by 18.20 percent. As of the end of the first quarter, it still did not own any XPeng shares.
The pension liquidated its position in Li Auto, another Chinese EV company, in the first quarter. CalPERS held 1,136,298 shares of Li Auto at the end of the fourth quarter last year.
NIO, XPeng and Li Auto all rose in the first quarter, up 7.79 percent, 9.14 percent and 22.3 percent, respectively.
Several prominent hedge funds reduced their positions in these three Chinese EV companies in the first quarter.
Bridgewater reduced its holdings in NIO by 40.53 percent, XPeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter, according to Friday's Form 13F.
Renaissance cut its position in NIO by 0.16 percent, XPeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.
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