Category: China

Cost advantage of sodium-ion batteries decreases as lithium prices fall

With the price of battery-grade lithium carbonate falling back to around RMB 300,000 per ton, the cost advantage of sodium batteries is seen as no longer prominent.

The dramatic rise in lithium carbonate prices over the past few years has led many to look to the lower cost of sodium-ion batteries.

However, with the prolonged decline in the price of lithium carbonate, a key raw material for lithium-ion batteries, earlier in the year, the cost advantage of sodium-ion batteries is seen as having diminished significantly.

Battery-grade lithium carbonate surged in 2022, with prices once topping RMB 600,000 (84,400) per ton, and in this context, sodium-ion batteries were highly sought after, the Shanghai Securities News noted in a report today.

However, very few models are confirmed to carry sodium-ion batteries this year, with only Chery's iCar, Sehol E10X and Jiangling EV3 having been the few ones, the report said.

Meanwhile, the price of battery-grade lithium carbonate has fallen back to around RMB 300,000 per ton, and the cost advantage of sodium batteries is no longer prominent, the report said.

Lithium carbonate price in China rose to about RMB 600,000 per ton at one point in November 2022, about 14 times the average RMB 41,000 per ton price in June 2020.

After that, however, lithium carbonate price began to decline until a month ago, when it finally stopped falling.

Prior to April 21, lithium carbonate price had not seen a single day of gains in China this year, falling about 65 percent since the beginning of the year.

Battery-grade lithium carbonate today averaged RMB 305,000 per ton in China, while industrial-grade lithium carbonate stood at RMB 290,000 per ton, according to data from Mysteel.

The battery industry chain has been actively developing sodium-ion batteries in recent years, and currently has mass production capabilities, but the feedback from the demand side is not positive, the China Passenger Car Association (CPCA) said in a report on May 22.

Sodium-ion batteries are still in the early stages of industrialization, and their cost advantages cannot be fully exploited at this time due to controversial core technology routes, inadequate supply chain preparation, and immature production processes, the CPCA said.

Sodium-ion's abundant resource reserves are difficult to quickly translate into cost advantages, and when the cost of lithium iron phosphate batteries is rapidly declining, automakers are hardly motivated to choose to carry sodium-ion batteries in the short term, according to the CPCA.

Nevertheless, the development of the sodium-ion industry chain in China continues.

There are currently more than 35 sodium-ion battery manufacturers in China in the interim-testing stage, with another 50 or more in the lab stage, Shanghai Securities News said, citing data from local think tank GGII.

Companies able to provide samples are expected to exceed 20 in the first half of 2023, and more than five companies will achieve mass production of sodium-ion batteries in the second half of the year, according to the report.

The sodium-ion battery industry chain is not yet mature, and it will take at least two to three years for the industry to really move toward industrialization, said Chen Liangqin, director of local lithium battery maker Veken Technology, as quoted by Shanghai Securities News.

($1 = RMB 7.1032)

Battery-grade lithium carbonate price up by RMB 2,500 per ton

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BYD launches 2023 Yuan Pro SUV with prices starting at $13,500

The Yuan family of models sold 39,160 units in April, making it the second highest-selling model for the month.  |  BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) today officially launched the 2023 Yuan Pro, a compact SUV originally rolled out by BYD in March 2021.

The improved version of the Yuan Pro is offered in three versions with starting prices of RMB 95,800 ($13,500), RMB 105,800 and RMB 113,800 respectively.

BYD started the pre-sale for the 2023 Yuan Pro on April 7, when the pre-sale prices for these three versions were RMB 99,800, RMB 109,800 and RMB 119,800 respectively.

Compared with the pre-sales, the launch prices of the three versions of the 2023 Yuan Pro has been reduced by RMB 4,000, RMB 4,000 and RMB 6,000 respectively.

The model's length and height are 4,375 mm, 1,785 mm and 1,680 mm respectively, with a wheelbase of 2,535 mm.

It continues the Dragon Face 3.0 design language of the previously available model.

The 2023 Yuan Pro is based on the BYD e-Platform 3.0 and features an electric motor with a maximum power of 70 kW and a maximum torque of 180 Nm, accelerating from 0 to 50 km/h in 4.9 seconds.

The car offers two range versions, with a CLTC range of 320 km and 401 km, respectively. It is equipped with a lithium iron phosphate battery pack with a capacity of 38 kWh and 47.04 kWh, respectively.

The 2023 BYD Yuan Pro supports DC fast charging, which can replenish energy from 30 percent to 80 percent in 30 minutes.

The previously available BYD Yuan Pro was launched on March 21, 2021, when two versions were offered at a subsidized price of RMB 121,300 and RMB 131,400, respectively.

China's purchase subsidies for new energy vehicles (NEVs) end at the end of 2022, and the country's purchase tax exemption for such models was extended until the end of this year.

BYD sold 210,295 NEVs in April, up 98.31 percent from 106,042 units in the same month last year and up 1.55 percent from 207,080 units in March, according to data released on May 2.

Yuan family models sold 39,160 units in April, the second-highest-selling BYD model for the month, according to data monitored by CnEVPost. This represents a 158.18 percent year-on-year increase, but a 3.07 percent decrease from March.

The Yuan family of models includes the Yuan Pro as well as the Yuan Plus, for which breakdown sales figures are not available.

The Qin family of models sold a record 42,202 units in April, making it the highest-selling BYD model for the month.

($1 = 7.1036 RMB)

Musk once laughed at BYD, but now thinks 'their cars are highly competitive'

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China NEV retail at 483,000 in 1st 4 weeks of May, flat from same period last month

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, according to the CPCA.

China NEV retail at 483,000 in 1st 4 weeks of May, flat from same period last month-CnEVPost

(Image credit: CnEVPost)

In the first four weeks of May, from May 1 to May 28, retail sales of passenger new energy vehicles (NEVs) in China were 483,000 units, up 82 percent year-on-year and flat compared with the same period last month, according to data released yesterday by the China Passenger Car Association (CPCA).

So far this year, China's retail sales of passenger NEVs were 2.236 million units, up 43 percent year-on-year.

Wholesale sales of passenger NEVs in China from May 1 to 28 were 550,000 units, up 81 percent year-on-year and up 1 percent from the same period in April, according to the CPCA.

So far this year, wholesale sales of passenger NEVs in China were 2.658 million units, up 49 percent year-on-year.

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, the CPCA said.

So far this year, cumulative retail sales of passenger cars in China were up 2 percent to 7.287 million units.

This means that the penetration of NEVs at retail in China was 34.7 percent in the first four weeks of May and 31.9 percent so far this year.

In the first week of May, May 1-7, the average daily retail sales of passenger cars in China were 54,000 units, up 67 percent from the same period last May and up 46 percent from the same period in April.

In the second week of May, from May 8 to 14, the average daily retail sales of passenger cars in China were 48,000 units, up 44 percent over the same period last May and up 6 percent over the same period in April.

In the third week of May, from May 15-21, the average daily retail sales of passenger cars in China were 48,000 units, up 15 percent from the same period last May but down 12 percent compared with the same period last month.

The average daily retail sales of passenger cars in China for the fourth week of May were 50,000 units, down 17 percent year-on-year and down 33 percent from the same period last month.

The last three days of April were the Labor Day holiday, while the last three days of May are normal sales time, so the month-end increase is still worth looking forward to, the CPCA said.

Data table: China auto sales in May 1-28

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Geely reportedly plans to enter Thailand EV market

is in the early stages of planning its entry into Thailand's EV market, including weighing imported and locally made models, Reuters reported.

(A car displayed by Geely's Livan brand at the Shanghai auto show in April 2023. Image credit: CnEVPost)

Thailand is a key stop for Chinese automakers as they expand internationally, with Geely reportedly becoming the latest to target that Southeast Asian market.

Geely is in the early stages of planning its entry into Thailand's electric vehicle (EV) market, including weighing imported and locally built models, Reuters reported today, citing two people familiar with the matter.

Considerations include whether to sell entry-level EVs in Thailand, as well as an electric pickup truck under its new Radar brand, the people said.

Thailand's Board of Investment held discussions with five major Chinese automaker makers, including Geely, during a road show in China in April, the report said, citing Narit Therdsteerasukdi, the board's secretary general.

The other companies are , Changan Automobile, JAC Motors and Jiangling Motors, according to the report.

Discussions with Geely have faced additional complications because the company has given working-level autonomy to brand-level operating groups such as Geometry and Radar, the report said, citing a person familiar with the matter.

Geely needs to decide what models to bring to Thailand, and its review includes the possibility of building a plant in Thailand, according to the report.

Geometry, an EV brand Geely launched in 2019, sold 57,877 units in the January-April period, up 73.54 percent year-on-year, according to data monitored by CnEVPost.

Radar, Geely's outdoor lifestyle brand unveiled in July 2022, launched its first model, the RD6 electric pickup, in China in November 2022.

The Thai government's goal is that EV production is expected to account for 30 percent of total vehicle production by 2030.

The country hopes to become a major EV hub in Southeast Asia, which provides an opportunity for Chinese automakers.

On March 10, BYD broke ground on its plant in Thailand, when the company held a ceremony to deliver the 9,999th and 10,000th BYD Atto 3s.

BYD's plant is expected to start production in 2024 with an annual capacity of about 150,000 units.

Hozon Auto's brand also broke ground on a plant in Bangkok, Thailand, on March 10, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.

In addition to car companies, major suppliers in China's EV industry chain are also targeting the Thai market.

Gotion Singapore, a wholly owned subsidiary of Volkswagen-backed Chinese power battery giant Gotion High-tech, signed an agreement with Thailand's Nuovo Plus Company Limited on December 15, 2022, to set up a joint venture, according to a bourse announcement at the time.

The two parties plan to establish a joint venture company, NV Gotion Co Ltd, in Thailand to build a power lithium-ion battery pack production base, according to Gotion's announcement.

On May 13, 2022, announced that it had signed a strategic cooperation memorandum with Thailand's Arun Plus to cooperate on battery-related businesses in the ASEAN region.

On May 3 of this year, a Reuters report said that Thailand was in talks with CATL and other battery manufacturers to build production facilities in the Southeast Asian country.

Geely Holding becomes 3rd largest shareholder of Aston Martin, increases stake to 17%

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Musk meets with more officials as he begins 2nd day of China visit

Musk met with China's Minister of Industry and Information Technology and Minister of Commerce today. He met with China's foreign minister after arriving in Beijing yesterday and was seen meeting with 's chairman.

(Image credit: CnEVPost)

(NASDAQ: TSLA) CEO Elon Musk began the second day of his visit to China today, meeting with more local officials.

On May 31, Chinese Ministry of Industry and Information Technology (MIIT) Minister Jin Zhuanglong met with Musk in Beijing, where they exchanged views on topics including the development of new energy vehicles (NEVs) and smart connected vehicles, according to an announcement from the MIIT.

The MIIT is China's industrial regulator, overseeing areas including the automotive industry.

Earlier today, Reuters reported that Musk visited China's Ministry of Commerce and met with Commerce Minister Wang Wentao.

Musk arrived in Beijing yesterday on its private jet, and was later met by Chinese State Councilor and Foreign Minister Qin Gang.

Tesla opposes decoupling as well as supply chain disconnection and is willing to continue to expand its business in China and share in China's development opportunities, Musk said, according to a statement from the Chinese Foreign Ministry yesterday.

In addition to the meeting with Chinese officials, Musk was seen yesterday meeting with Robin Zeng, chairman of CATL, the world's largest power battery maker.

A picture circulating on Chinese social networks showed Musk and Zeng together in the lobby of a hotel.

Neither Tesla nor CATL made an announcement about the meeting. Local media outlet The Paper cited industry sources as saying the talks could include cell supply for Tesla's Megafactory in Shanghai, future cooperation on a battery plant in North America and power cell supply.

Tesla signed a contract with Shanghai's Lingang authorities on April 9 to build a new Megafactory in the area, which will be dedicated to the production of Tesla's energy storage product Megapack.

The Megafactory will be Tesla's first energy storage system factory outside of the US home market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.

The plant is scheduled to start construction in the third quarter of this year and go into operation in the second quarter of 2024, according to an announcement by the Lingang special area administration.

Tesla's vehicle assembly plant in Shanghai is located in the Lingang area, which began operations in late 2019 and has now become Tesla's largest EV production site in the world.

Tesla sold 75,842 China-made vehicles in April, including 39,956 delivered in China and 35,886 exported, according to data released earlier in the month by the China Passenger Car Association (CPCA).

Chinese foreign minister Qin Gang meets with Tesla CEO Elon Musk in Beijing

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NIO kicks off preparations for NIO Day 2023

is more likely to announce plans for its sub-brands than new NIO-brand models on NIO Day 2023.

(Image credit: CnEVPost)

With about five months of the year gone, NIO (NYSE: NIO) has kicked off preparations for its biggest event of the year, NIO Day.

NIO today began recruiting user advisory group members for NIO Day 2023 in China, with the registration deadline of 8:00 pm Beijing time on June 3.

NIO Day is an annual event for NIO and its friends, and the company has had a NIO Day user advisory panel since 2019, according to an article posted on the NIO App today.

Only NIO owners or those who have ordered a NIO vehicle can apply to join the NIO Day user advisory panel, and they also need to have ample spare time to participate in discussions and preparations for the event.

"Users with relevant experience or skills in large-scale event planning, execution, content direction, music production and planning, and art curation are especially welcome to join us," NIO said.

It will conduct an initial screening based on applications and subsequent interviews. In late June, the company will announce the names of the NIO Day 2023 user advisory panel members.

NIO typically holds its annual NIO Day event at the end of each year or at the beginning of the following year, and unveils the latest models and technologies.

The last such event, NIO Day 2022, was held on December 24 in Hefei, Anhui province, the city where NIO's vehicle assembly plants are located.

The city of NIO Day is not decided by NIO, but rather by its customers' votes. The company is expected to continue this practice this year.

NIO launched its preparations for NIO Day 2023 at about the same time as it did for the last event.

The company began recruiting members for the NIO Day 2022 user advisory panel on June 7, 2022, and on July 15 began the process of selecting cities to host the event.

On August 29, 2022, the host city for NIO Day 2022 was determined to be Hefei, and on December 8, the event was scheduled for December 24.

NIO launched the EC7 and the new ES8 at the last NIO Day event, with deliveries of the former already starting a month ago and the latter expected to start in June.

There is no clue what new models or technologies NIO will unveil on NIO Day 2023.

On December 14 last year, local auto media Auto Home reported that NIO was going to build its own "Mercedes Maybach" model, which was already in the design stage and would be a luxury sedan priced at 1 million yuan ($144,000).

The luxury sedan will be operated under the NIO brand, not a sub-brand, and will compete with the Mercedes-Benz Maybach S-class, the report said, citing an NIO insider close to the project.

If things go well, the model would be released as early as 2024 and sold globally, the source added.

It is worth noting that these rumors have never been confirmed by NIO.

In addition, NIO management previously mentioned that the company plans to start delivering mass-market models in the second half of 2024, with prices in the RMB 200,000 to 300,000 range.

The sub-brand, internally codenamed ALPS, will be based on the NT 3.0 platform and powered by NIO's own batteries.

In addition to ALPS, NIO is also planning a third brand with the internal code name Firefly, which will debut in Europe and is expected to go on sale in the third quarter of 2024, according to information previously revealed by the company's management.

Including the new ES8, which has not yet begun delivery, NIO currently has six models on sale, which seems to be a well-established model matrix.

On NIO Day 2023, the company is more likely to announce information about the two sub-brands than new models.

NIO's Firefly project will have its own plant, but city not yet determined, report says

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Denza to begin delivery of N7 SUV in July, offers 2 front design options

Denza, which currently has only the Denza D9 MPV on sale, delivered 10,526 units in April, the second consecutive month with more than 10,000 units.  |  BYDDY.US | HK

Denza, the premium new energy vehicle (NEV) brand of BYD (OTCMKTS: BYDDY), has announced the launch schedule for the upcoming Denza N7, after pre-sales of the new SUV began last month.

The Denza N7 will be officially launched in late June, with deliveries starting in July, Zhao Changjiang, general manager of Denza's sales division, said yesterday at the company's first brand day after it was effectively controlled by BYD.

Denza is a joint venture established by BYD and Daimler in February 2011, with each holding a 50 percent stake at the time. In February 2022, the Daimler brand was rebranded as Mercedes-Benz.

BYD's stake in Denza increased to 90 percent last year, and Mercedes-Benz's stake decreased to 10 percent.

In August 2022, Denza let the D9 MPV go on sale, the brand's first model after the reorganization. The Denza D9 began deliveries at the end of October last year and 10,526 units were delivered in April this year, the second consecutive month with more than 10,000 units.

The Denza N7, the second model after the Denza equity change, is a 5-seat midsize 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.

The model will have two front design options, differing in the daytime running lights below the headlights, one with a bar and the other with a grille, Zhao said at yesterday's event.

The N7 will be delivered with smart driving hardware and the advanced assisted driving software will be available starting in December, Zhao said.

The Denza N7 has its own operating system and is compatible with different systems, 's HarmonyOS being one of them.

Denza D9 consumers are in their 30s and 40s, and 30 percent of them ordered the Denza N7, Zhao said.

Data from more than 10,000 orders show that Denza N7 consumers are over 23 years old, younger than those for the D9, he said.

Denza opened reservations for the N7 on the first day of the Shanghai auto show on April 18, but its pricing information was not released.

Zhao said on Weibo last December 20 that the SUV aims to capture the market for traditional internal combustion engine cars priced around 400,000 yuan ($56,300).

On April 25, Denza said the N7 received 10,569 pre-orders, just seven days after pre-sales bean.

In addition to the N7, Denza has also unveiled the exterior and interior design of another SUV, the Denza N8.

($1 = 7.1044 RMB)

Denza could see monthly sales of over 20,000 units this year, exec says

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