Category: China

Geely Galaxy sees 1st production vehicles of L7 SUV roll off line

Geely Galaxy said yesterday that the L7 has accumulated more than 10,000 orders since it began allowing consumer pre-orders two months ago, although the model's price has not yet been announced.

Geely Galaxy sees 1st production vehicles of L7 SUV roll off line-CnEVPost

(Image credit: Geely Galaxy)

Geely Galaxy, the new energy vehicle (NEV) sub-brand of Geely Auto Group, saw the first production vehicles of its first model, the L7, roll off the production line, signaling that the model is not far from being officially launched and delivered.

The first production vehicles of the L7 have rolled off the production line and are being shipped across China, Geely Galaxy announced today on Weibo.

Yesterday, Geely Galaxy said the L7 has accumulated more than 10,000 orders since it began allowing consumer pre-orders two months ago, although the model's price has not yet been announced.

Geely Auto Group officially launched the new Geely Galaxy brand on February 24 and unveiled the first production model, the L7, saying the SUV will be available in the second quarter of this year.

The new brand plans to launch a cumulative total of seven models by 2025, including four plug-in hybrid models in the L series and three all-electric models in the E series.

Geely Galaxy will launch the L6 in the third quarter of 2023, the L5 in the second quarter of 2024, and the L9 in 2025.

In the all-electric product sequence, Geely Galaxy will launch the E8 in the fourth quarter of 2023, the E7 in the second quarter of 2024 and will launch the E6 in the third quarter of 2024.

The Geely Galaxy L7 is a hybrid SUV with a length, width and height of 4,700 mm, 1,905 mm and 1,685 mm, respectively, and a wheelbase of 2,785 mm.

The vehicle is powered by a 1.5T engine with a thermal efficiency of 44.26 percent, ranking first among known production engines, Geely said at the February 24 launch event.

Geely announced at that launch that the L7 was available for pre-order, but the price was not revealed. The model is currently expected to cost less than 200,000 yuan ($29,000).

Geely Galaxy sees 1st production vehicles of L7 SUV roll off line-CnEVPost

The Geely Galaxy launch is one of Geely's moves to meet its sales targets for the year and to increase its electrification transition.

Geely Auto Group CEO Gan Jiayue said in January that the group's sales target for 2023 is 1.65 million vehicles, including 600,000 NEVs.

Geely Auto Group sold 1.43 million vehicles in 2022, up 8 percent from a year earlier, including about 330,000 NEVs, according to data monitored by CnEVPost.

($1 = RMB 6.8963)

Geely Galaxy brand officially launched, to roll out 7 models by 2025

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Lithium price in China sees 1st rise this year as analysts expect short-term rebound

Lithium prices are expected to stop falling in the near term, but will continue their downward trend over the next two years, analysts say.

Lithium price in China sees 1st rise this year as analysts expect short-term rebound-CnEVPost

The epic decline in lithium carbonate prices is starting to see signs of stopping.

Industrial-grade lithium carbonate price in China rose RMB 2,500 ($362) per ton today to an average of RMB 137,500 per ton, the first single-day increase this year, according to data from Mysteel.

Battery-grade lithium carbonate, on the other hand, remained at RMB 180,000 per ton for the third consecutive day, according to the data.

With the rapid growth of China's electric vehicle (EV) industry, prices for the key raw material for batteries have risen rapidly in the past two years.

At one point in late November last year, battery-grade lithium carbonate was quoted at RMB 590,000 per ton in China, about 14 times the average price of RMB 41,000 per ton in June 2020.

Since then, lithium carbonate prices have continued their downward spiral, and even a production disruption in Yichun, Jiangxi, nicknamed the "lithium capital of Asia," at the end of February did not stop the downward trend.

Earlier this month, a local media outlet reported that half of Yichun's four major lithium producers had opted to shut down production to stem the downward price trend.

The accelerating downward trend in lithium carbonate prices is unsustainable, with lithium prices expected to gradually stabilize and possibly even rebound in the short term as inventories decrease, said Chinese brokerage CICC analyst Zhang Jiaming's team in an April 20 research note.

Some companies were choosing to cut production due to oversupply, which is a normal phenomenon that would occur during price reductions, the team said.

However, the team believes the downward trend in lithium prices may not end soon, as the global lithium supply is still in surplus.

Market forces will bring a concentration of new capacity coming online and create supply growth that outpaces demand growth, which is the main driver of the easing lithium supply and demand crunch, the team said.

"We expect global lithium resource supply to grow from 760,000 tons to 1,973,000 tons in 2022-2025, with a CAGR of 37 percent," the team wrote.

Separately, CITIC Securities analyst Bai Junfei's team said in an April 17 research note that current lithium prices have fallen near key cost support levels and could stop falling if downstream demand picks up.

Downstream producers have material inventories that are all at extremely low levels, and overseas lithium prices are at a significant premium to Chinese lithium prices, which are also supportive factors, according to the team.

Notably, CITIC Securities shares CICC's view that lithium prices still have room to fall, as the oversupply will continue.

Global new lithium supply will reach 350,000 tons in 2023, and show a trend of quarterly increase, according to CITIC Securities.

In 2023-2025, total global lithium supply will grow to 1.2 million tons, 1.73 million tons and 2.32 million tons, respectively, with year-on-year growth rates of 44 percent, 41 percent and 34 percent, corresponding to a supply surplus of 74,000 tons, 397,000 tons and 438,000 tons, respectively, according to the team.

As the oversupply expands, lithium prices will still have downward pressure in 2024 and 2025, and there is a risk of further price declines after a temporary stop, the team said.

(1 $= RMB 6.9023)

Analysts explain how falling lithium carbonate prices affect EV costs

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Tesla prepares to export Model Y from Shanghai to Canada, report says

It would be the first time Tesla will ship cars from China to North America, connecting its largest and most cost-effective factory in the world with its biggest market, North America.  |  Tesla (NASDAQ: TSLA)

Tesla prepares to export Model Y from Shanghai to Canada, report says-CnEVPost

(Image credit: CnEVPost)

Tesla has begun production in Shanghai of the Model Y crossover that will be sold in Canada this year, Reuters said in a report today, citing people with knowledge of the plan and a production memo.

It will be the first time the company will ship cars from China to North America, a move that will connect Tesla's largest and most cost-effective factory in the world with its biggest market, North America, the report said.

Tesla launched a cheaper, rear-wheel-drive Model Y in Canada just this past weekend, starting at C$59,990, C$10,000 less than the long-range version.

Tesla's website shows that Canadian customers can take delivery of the new Model Y between May and July.

Tesla prepares to export Model Y from Shanghai to Canada, report says-CnEVPost

(Screenshot from Tesla's Canadian website.)

The electric vehicle (EV) maker's Shanghai plant began production of the Canadian version of the Model Y earlier this month, Reuters said, citing a person familiar with the matter. The vehicles are being designed and tested for export to North America, with a goal of producing nearly 9,000 units this quarter, the report said.

Tesla CEO Elon Musk told analysts last week that the company's Shanghai plant has the lowest cost structure of any of its factories, the report noted.

Tesla's factory in Shanghai makes the Model 3 and the Model Y. The plant not only supplies vehicles to local consumers, but is also an export hub for the EV maker.

The company delivered 76,663 vehicles in China in March, and the Shanghai plant exported 12,206 vehicles, according to data released earlier this month by the China Passenger Car Association (CPCA).

It delivered 422,875 vehicles worldwide in the first quarter, including 412,180 Model 3 and Model Y vehicles and 10,695 Model S and Model X vehicles, according to data it announced April 2.

In the first quarter, Tesla sold 229,322 China-made vehicles, contributing 54 percent of its global deliveries.

Tesla's Shanghai plant exported 91,893 vehicles in the first quarter, up 24.39 percent year-on-year, according to data monitored by CnEVPost.

Tesla prices: Here's how Model 3 and Model Y compare in China vs other markets

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An NIO employee exposed toxic overwork culture with more than 500 unpaid overtime hours, admitted to emergency room multiple times

The employee also revealed that NIO wants to pay her 17,400 USD to have her resign, but she could no longer speak out.

The post An NIO employee exposed toxic overwork culture with more than 500 unpaid overtime hours, admitted to emergency room multiple times appeared first on CarNewsChina.com.

An NIO employee exposed toxic overwork culture with more than 500 unpaid overtime hours, admitted to emergency room multiple times

The employee also revealed that NIO wants to pay her 17,400 USD to have her resign, but she could no longer speak out.

The post An NIO employee exposed toxic overwork culture with more than 500 unpaid overtime hours, admitted to emergency room multiple times appeared first on CarNewsChina.com.

NIO’s battery swap network completes initial coverage of Beijing-Taipei highway

The G3 Beijing-Taipei highway is a 2,030-kilometer road linking northern, eastern and southeastern China.

NIO's battery swap network completes initial coverage of Beijing-Taipei highway-CnEVPost

(Image credit: CnEVPost)

NIO's (NYSE: NIO) battery swap station network is extending its coverage to a broader area, completing initial coverage of a major highway from northern to southern China.

On April 23, NIO's battery swap station network completed initial coverage of the G3 Beijing-Taipei highway with 21 battery swap stations along the route, the electric vehicle (EV) maker announced today.

NIO's battery swap network completes initial coverage of Beijing-Taipei highway-CnEVPost

(Image credit: NIO)

By now, NIO has completed coverage of five major highways connecting to Beijing, the other four being the G1 Beijing-Harbin highway, the G2 Beijing-Shanghai highway, the G4 Beijing-Hong Kong-Macau highway and the G5 Beijing-Kunming highway.

The G3 Beijing-Taipei highway is a trunk line linking northern, eastern and southeastern China, with a total length of 2,030 kilometers, running through Beijing, Hebei, Shandong, Jiangsu, Anhui, Zhejiang, Fujian and Taiwan. The Fuzhou-Taipei section is not yet open.

Along the highway, there is an average of one battery swap station every 112 kilometers, according to NIO.

Here's a video NIO shared on its mobile app.

On July 6, 2022, NIO said at the second NIO Power Day event that it will complete a battery swap network covering nine vertical highways, nine horizontal highways and 19 urban clusters in China by 2025.

NIO's battery swap network completes initial coverage of Beijing-Taipei highway-CnEVPost

(Image credit: NIO)

NIO expects to have more than 4,000 battery swap stations worldwide by 2025, with 1,000 of them located overseas, the company said at the time.

By 2025, more than 90 percent of NIO customers will have at least one battery swap station within three kilometers of their homes.

As of today, NIO's battery swap station network covers 6 vertical highways, 3 horizontal highways and 8 urban clusters.

NIO announced plans late last year to add 400 battery swap stations in 2023, but 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, aiming to have more than 2,300 battery swap stations in China by the end of 2023.

On April 12, NIO's first 10 third-generation swap stations went into operation, after the next-generation station was launched at NIO Day late last year.

On April 18, Li said at a press event on the first day of the Shanghai auto show that NIO will add about 200 battery swap stations every month starting in June.

NIO added two battery swap stations in China today, bringing the total number of facilities to 1,366. It also added five charging stations, bringing the total to 2,506, providing 14,857 charging piles, according to data monitored by CnEVPost.

April 23 and May 6 are working days in China, according to the country's schedule for the upcoming Labor Day holiday, even though they are Sunday and Saturday, respectively. The holiday runs from April 29 to May 3.

NIO's 1st 10 3rd-gen swap stations go into operation

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BYD Seagull to be officially launched on Apr 26, gets strong acceptance in pre-sale

BYD Seagull was unveiled and started pre-sale on April 18 with a pre-sale starting price of RMB 78,800 and received more than 10,000 orders in 24 hours.

(Image credit: CnEVPost)

BYD's (OTCMKTS: BYDDY) mini electric vehicle (EV) Seagull will officially launch in three days, and its performance in the pre-sale phase bodes well for strong future performance.

The new energy vehicle (NEV) maker posted a countdown to the Seagull's upcoming arrival on Weibo today, saying the model will be available on April 26.

In addition to the 3-day countdown image, BYD also shared a video of the Seagull, showing the exterior and interior details of the model.

BYD unveiled the Seagull and started pre-sales on the first day of the Shanghai auto show on April 18. The car is available in 3 versions with pre-sale prices of RMB 78,800 ($11,430), 83,800 and 95,800 respectively.

This is not the final price of the model, and BYD's previous practice was that the final price is slightly lower than the pre-sale price.

The Seagull received more than 10,000 orders 24 hours after pre-sales began, BYD said earlier this week.

(Image credit: CnEVPost)

The model, the latest addition to BYD's Ocean series, is an A0-class EV based on the e-Platform 3.0 with a length, width and height of 3,780 mm, 1,715 mm and 1,540 mm, respectively, and a wheelbase of 2,500 mm.

The BYD Seagull is powered by a permanent magnet synchronous motor with a maximum power of 55 kW and peak torque of 135 Nm, accelerating from 0 to 50 km/h in 4.9 seconds.

The car is available in two range versions, with the lower-priced two models having a CLTC range of 305 km and the highest-priced version having a range of 405 km.

The Seagull uses BYD's blade batteries with pack capacities of 30.08 kWh and 38.88 kWh respectively.

The car supports fast charging, taking 30 minutes to charge from 30 percent to 80 percent.

(Image credit: CnEVPost)

There were rumors last year that the Seagull would have a version with sodium-ion batteries, but this has not yet become a reality.

However, on April 20, local media outlet 36kr reported that 's and BYD's sodium-ion batteries will both be carried in production cars within the year, and they will both be a mix of sodium-ion and lithium-ion batteries.

BYD's sodium-ion battery will be in mass production in the second half of the year, and the first model to carry the battery will be the Seagull, the report said, citing a BYD source.

($1 = RMB 6.8935)

CATL, BYD's sodium-ion batteries both to be in mass production within this year, report says

(Image credit: BYD)

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