Smart and Sustainable Electric Mobility
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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While the overall trend is for FSD to enter China, there are still two major issues before it becomes a reality -- data collection eligibility and supercomputing centers, according to CITIC Securities.
(Image credit: CnEVPost)
A Chinese official's remarks a month ago sparked much anticipation for Tesla to bring FSD (Full Self-Driving) to China.
However, Tesla still has a lot of work to do if it makes this a reality. A team of local analysts shared their views in a new research note.
The trend of Tesla FSD entering China is becoming clearer, which is expected to accelerate the progress of intelligence in local electric vehicles (EVs), said a team of CITIC Securities analyst Lian Yixi in a research note today.
While the overall trend is for FSD to enter China, it is still two major issues away from becoming a reality -- data collection eligibility and supercomputing centers, according to the team.
Under China's current regulations, high-precision map mapping can only be conducted by qualified entities, and only 19 currently hold the qualification, the team noted.
Moreover, the compilation of electronic maps for navigation is currently open only to local companies, and the transmission of mapping data outside of China must also be approved in advance, the team said.
Map data is highly sensitive and related to national security, and exactly how Tesla should obtain the qualification is still unknown, the team said.
Viable options for Tesla include forming a joint venture with a Chinese company or moving the process forward in Shanghai on a pilot basis, but it would be difficult for it to roll out the effort on a large scale any time soon, according to the team.
In addition to map-related qualifications, Tesla would need to build a supercomputing center in China.
The pure vision route for autonomous driving relies more on massive data collection and model training for image processing, so Tesla built Dojo, a supercomputing center in the US, and developed its own D1 chip to improve the training efficiency of FSD, CITIC Securities noted.
And in China, even if Tesla obtains the data acquisition qualification, the probability is that it can only train the model locally in China and the data may not be allowed to be transmitted back to the US, the team said.
This means that to achieve the same training efficiency as in the US, Tesla would need to establish a supercomputing center in China similar to Dojo, which would require a certain development cycle and cost, according to the team.
Despite these two major issues, CITIC Securities believes that if Tesla succeeds in bringing FSD to China, it will benefit the overall intelligence of China's EVs, helping to strengthen consumer education, expand the market, and accelerate the process of letting the best win out.
The entry of FSD into China is likely to significantly strengthen consumers' awareness of the intelligence of cars and develop their daily needs and habits for smart driving, which is expected to allow the market to expand significantly in China, the team said.
It is also important to note that if Tesla introduces the highly profitable FSD to China, it has the potential to further reduce the prices of its vehicles and could launch a lower-priced Model 2/Q, with pricing likely in the RMB 150,000 ($21,070) to RMB 200,000 range, according to the team.
If such a scenario emerges, cost pressures on local low- and mid-range models would be further exacerbated, when obtaining a low-priced but qualified smart driving software from a third-party supplier could become a mainstream option for car companies with weaker R&D capabilities, the team said.
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Shanghai official hints at support for Tesla's FSD rollout in China
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The G6's pre-sale starting price is RMB 38,900 lower than the Tesla Model Y and RMB 84,900 lower than XPeng's flagship SUV, the G9.
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XPeng (NYSE: XPEV) has begun pre-sales of its highly anticipated new SUV, the G6, at a price significantly lower than the rival Tesla Model Y.
Pre-sales for the G6 start at RMB 225,000 ($31,610), XPeng announced today on Weibo.
For comparison, the model's direct competitor, the Tesla Model Y, is currently offered in China in three versions starting at RMB 263,900, RMB 313,900, and RMB 363,900 respectively.
This means that the XPeng G6 starts at RMB 38,900 less than the Model Y. The G6 is also RMB 84,900 less than the XPeng flagship SUV, the G9, which starts at RMB 309,900.
It is important to note that the pre-sale price is not the final price and XPeng may offer new pricing based on consumer feedback when the G6 is officially launched.
Consumers who pay RMB 2,000 to reserve the XPeng G6 now will receive an RMB 5,000 discount when they pay for the car.
The XPeng G6 will be officially launched in June, with volume deliveries starting in July, and production capacity will climb rapidly, its management said in a May 24 analyst call after announcing first-quarter earnings.
The G6 will be a hot seller in China's new energy SUV market priced in the RMB 200,000 to 300,000 range, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.
The G6 has been set aside about two months from the start of production to delivery, and XPeng expects the model to reach more than double the sales of the P7i, its management said.
That means XPeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on May 30.
XPeng will likely price the G6 significantly lower than the Model Y, hoping to attract consumers with a sleeker design and updated interior, the team said, adding that the Zeekr X is already taking that approach with a starting price of just RMB 190,000.
XPeng unveiled an architecture called SEPA (Smart Electric Platform Architecture) 2.0 at a technology conference in Shanghai on April 16, saying the G6 will be the first model built on it.
On April 18, XPeng officially unveiled the G6 on the first day of the Shanghai auto show, saying that the G6 is the ultimate form of car before fully autonomous driving is achieved.
The model is based on the 800 V high-voltage platform and can get a 300-kilometer range in as little as 10 minutes on a charge, XPeng said at the time. The company's other 800 V-based model is the G9.
XPeng cites the Tesla Model Y as its main competitor to the G6. The vehicle is positioned as an all-electric midsize SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.
For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm and a wheelbase of 2,890 mm.
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Fang Cheng Bao's model lineup ranges from off-road vehicles to sports cars, and its initial model, a hardcore SUV codenamed SF, is expected to be launched this year.
BYD (OTCMKTS: BYDDY) unveiled the official name of its F brand, with its first model to be launched within the year.
BYD officially announced its new sub-brand Fang Cheng Bao, the fifth in its brand matrix following the Dynasty series, Ocean series, Denza and Yangwang, according to a press release today.
The sub-brand will meet the increasingly personalized needs of consumers by offering a series of unique and professional-grade new energy vehicle (NEV) models, BYD said.
Fang Cheng Bao's model lineup ranges from off-road vehicles to sports cars, and its initial model, a hardcore SUV codenamed SF, is expected to launch this year, according to the release.
Fang Cheng Bao's brand name literally translates to "Formula" and "Leopard," symbolizing the pursuit of a transformative rise and exploration of digital realms, according to BYD.
It blends the standards and rules of Formula with the agility and wild versatility of the Leopard, bringing out the distinctive essence of the brand and BYD's vision of the future of cars and lifestyles, the company said.
"Many people think that the global e-mobility transition is a revolution in the automobile industry, where vehicles powered by fossil fuels get replaced by electric cars. However, from BYD, we believe this is only a minor part of the whole transition, and a greater realm is unfolding," said BYD chairman and president Wang Chuanfu.
BYD envisions the Fang Cheng Bao as a prelude to a revolution.
With the attitude of always being ahead of the curve, Fang Cheng Bao and its users will decode the future of personalized automotive life through its diverse NEV offerings, BYD said.
BYD did not provide more information about Fang Cheng Bao's first model, though CnEVPost previously learned that the model codenamed SF will target a market with a price range of RMB 400,000 ($56,240) to RMB 600,000.
Xiong Tianbo, former head of BYD auto 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.
Judging from the outline of the SF model, it is expected to compete with the Mercedes-Benz G-Class at a lower price.
Fang Cheng Bao is the latest important piece of BYD's brand map.
BYD Group currently has the BYD Seagull, which starts at just 73,800 yuan, and the Yangwang U8, which has a pre-sale price of RMB 1,098,000, for sale and for consumers to reserve.
The company officially opened its first brand experience center on May 20, occupying five floors with a total area of 6,550 square meters.
Its model display area showcases models including the BYD Frigate 07, BYD Seagull, Denza D9 and Yangwang U8.
The experience center building's facade leaves an area in between the BYD and Yangwang logos, which appears to be its reserved spot for the Fang Cheng Bao logo.
Here are more explanations from BYD about the Fang Cheng Bao brand, as well as more pictures of the SF model.
BYD F brand to use new powertrain, targeting market with price above RMB 400,000
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NIO could bring the ET5 Touring and the new ES6 to European customers at a launch event next week.
NIO (NYSE: NIO) will launch new models in Europe next week, and the latest information suggests it may be more than just the ET5 Touring.
"Brand new NIO models are coming. June 15, 19:00 CEST," reads the text of a picture on the front page of NIO's English-language website.
"Join us online and get a preview experience of the brand new NIO models www.nio.com #inspiredbylife," NIO says in the text included in the "Add to Calendar" button on its website.
The event's European start time corresponds to June 15 at 1:00 pm US Eastern Time, or June 16 at 1:00 am Beijing Time.
Recent information indicates that NIO is expected to launch the ET5 Touring at the event, a model that has been seen frequently in Europe as well as China over the past two months.
The ET5 Touring has been quietly arriving at NIO stores in China, longtime NIO follower and car blogger @肉肉爸比ev said on Weibo yesterday.
The model will enter NIO's showrooms on the evening of June 9, and those interested can check it out on June 10, the blogger said, without providing any further information.
NIO will report first-quarter earnings before the US stock market opens on June 9 and then hold an analyst call.
NIO's management had previously mentioned that this variant of the ET5 would debut in Europe, and the model was developed primarily for European customers.
It's not clear if NIO will hold a separate launch for the model in China, as the company said on June 1 that the ET5 Touring will be launched globally in June and start its delivery with Chinese market.
NIO used the word "models" instead of "model" in the event preview on its English website, suggesting that it will launch more than one model at next week's event.
In addition to the ET5 Touring, NIO may also launch the new ES6 to local customers at the European event.
NIO launched the new ES6 in China on May 24, and deliveries began that night.
The new ES6 has a starting price in China of RMB 368,000 ($51,740) including batteries, making it the cheapest NIO SUV.
NIO last held a launch event in Europe on October 8, 2022, when the company introduced the ET7, EL7 and ET5 to European customers.
The EL7 is the ES7 sold in China, and that new name is due to NIO's lawsuit with Audi. The ES6 is expected to be similarly known as the EL6 in international markets.
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ET5 Touring said to be available at NIO showrooms in China starting Jun 10
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BYD asks you about F time before the FangChengBao brand launch that is scheduled for June 9.
The post What’s your favorite F time? BYD wants to know as it warms up for new brand launch appeared first on CarNewsChina.com.
The Mustang Mach-E team will be integrated back into Ford China and the separate entity running the project will be written off in the future, according to local media.
(Image credit: Ford Mustang Mach-E Weibo)
Ford once had high hopes for the Mustang Mach-E's performance in China and set up a separate entity to run the line.
Now, after a long period of weak sales, the US auto giant is reportedly scaling back its ambitions for the program.
Ford China is recently undergoing an organizational restructuring that will see the Mustang Mach-E team integrated back into Ford China and the separate entity that runs the program written off in the future, local media outlet Jiemian said today, citing several sources familiar with the matter.
The organizational restructuring will involve more than 2,000 employees and is expected to be completed in July, according to the report.
Because Mustang Mach-E sales are so poor, the separate company will have trouble taking on losses for long, a person familiar with the matter said.
The integration of the team does not mean the Mustang Mach-E will be withdrawn from China, and the model will continue to be produced by Changan Ford, Ford's joint venture in China, according to the report.
Ford launched the Mustang Mach-E in China in April 2021, with the first deliveries coming on December 26 of the same year.
Zhu Jiang, then head of the program, joined Ford China in June 2020 and was responsible for Mach-E-related operations and management of marketing, PR, sales, service and customer experience.
Zhu joined NIO as vice president of user development in March 2017 and left in March 2020.
In November 2021, Zhu left Ford to join Jidu Auto, Baidu's car-building arm, and earlier today, Jiemian reported that Zhu had left Jidu to join Lucid Motors.
Ford had high hopes for the Mustang Mach-E, setting up a company called Ford Electric Mach Technologies, or FMeT for short, in September 2022.
It was the first independent company in the Chinese market to be established by a foreign auto brand with a deep focus on the development and operation of smart electric vehicles to fully accelerate electrification and intelligence development, Ford said at the time.
Ford will build on its strong R&D capabilities to create products that meet the needs of Chinese consumers, it said.
But Mustang Mach-E sales in China have been weak, well below those of China's major electric vehicle startups.
Mustang Mach-E sales peaked at 1,535 units last December and then declined, selling just 332 units in April, less than a fraction of rival Tesla's Model Y, Jiemian's report said.
Notably, last December's sales peak appears to have been driven by incentives introduced by Ford.
On October 24, 2022, Tesla lowered the prices of the entire Model 3 and Model Y lineup in China, with the entry-level, rear-wheel-drive Model Y's subsidized starting price dropping to RMB 288,900 ($40,610), down from the previous 316,900.
A few days later, on October 31, Ford announced a price cut for the entire Mustang Mach-E lineup in China, with the subsidized starting price dropping from RMB 275,900 to RMB 249,900.
China's purchase subsidies for NEVs expired at the end of 2022 and had not been renewed.
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Ford offers up to $5,740 discount on Mustang Mach-E in China
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Among the top 10 best-selling EVs, Tesla accounted for 2 and BYD 5. It is worth noting that in addition to Tesla, the other 8 vehicles are all from Chinese companies.
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The first production vehicles of the Zeekr X rolled off the production line today and will be shipped to stores in various cities, with first deliveries expected to begin in the middle of this month.
(Image credit: Zeekr)
Zeekr, Geely's premium electric vehicle (EV) brand, saw the first production vehicles of its third model, the Zeekr X, roll off the production line as deliveries approach.
The first production vehicles of the Zeekr X rolled off the production line today and will be shipped to stores in various cities, with first deliveries expected to begin in the middle of this month, Zeekr said.
On April 12, Zeekr launched the Zeekr X, a model it hopes will become the benchmark for luxury compact cars.
The Zeekr X comes in three versions, with one starting at RMB 189,800 ($26,670) and the other two at RMB 209,800.
The Zeekr X has been available for pre-order since its launch, and the model aims to deliver 40,000 units this year.
Zeekr was officially launched as a separate company in March 2021, and models currently on sale include the Zeekr 001 hatchback and the Zeekr 009 MPV, both of which are built at the company's plant in Ningbo, Zhejiang province.
The Zeekr X is not built in Ningbo, but at a Geely plant in Chengdu, Sichuan province, which CnEVPost visited in April and saw the highly automated production line.
(Image credit: CnEVPost)
The plant that produces the Zeekr X incorporates advanced manufacturing technologies including 5G, AI, and industrial big data to drive product development with a digital twin, Zeekr said in a press release today.
The factory's smart manufacturing system has a rigorous, comprehensive, and high standard of quality testing to ensure the quality of the Zeekr X, the company said.
As the delivery of the Zeekr X enters its countdown phase, Zeekr's channel touchpoints are in full swing, it said.
(Image credit: CnEVPost)
As of May 31, Zeekr's direct stores are opening at an average rate of one store every two days and now cover 73 cities, including 304 stores, the company said.
Zeekr delivered 8,678 vehicles in May, up 100.42 percent from 4,330 vehicles in the same month last year and up 7.12 percent from 8,101 vehicles in April.
This is the fourth sequential increase in monthly deliveries for Zeekr, after a big drop in deliveries in January due to the shutdown of the Ningbo plant for upgrades.
Zeekr launches Zeekr X SUV to gain further share from market dominated by German luxury automakers
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The BYD Song Plus Campion Edition hit the pre-sales in China with a starting price of 23,800 USD and 605 km of range in an electric version.
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