Category: China

Changan’s NEV brand Shenlan aims for 200,000 sales this year

Shenlan's goals for 2023 include selling 200,000 vehicles and making both the SL03 and S7 hot sellers, the brand's CEO said.

(Image credit: CnEVPost)

Shenlan, Changan Automobile's new energy vehicle (NEV) brand, aims to sell 200,000 vehicles this year, becoming the latest to reveal aggressive plans.

Shenlan's goals for 2023 include selling 200,000 vehicles and making both the SL03 and S7 hot-sellers, the brand's CEO Deng Chenghao said in an interview with Auto Home, according to the text of the interview released yesterday.

The Shenlan brand, which was officially launched by Changan on April 13 last year, unveiled the Shenlan SL03 electric sedan on July 25, another strong competitor to the Model 3.

The brand unveiled its first SUV, the Shenlan S7, a similar model to the Tesla Model Y crossover, on March 5, with pricing information yet to be announced.

(Image credit: CnEVPost)

Shenlan began deliveries of the SL03 in late August 2022 and has accumulated nearly 50,000 deliveries through the end of March this year, including 8,568 units in March.

Deng did not disclose how Shenlan will meet its goal of selling 200,000 vehicles this year, and the brand offered up to 42,000 yuan ($6,090) in purchase discounts during last month's price war in the Chinese auto industry. The offer was valid from March 10 to March 31 and was limited to 10,000 units.

The price war was a short-term behavior, automakers ultimately need to compete with product competitiveness, technology, brand, channels, and service capabilities, Deng said in the interview.

"I think the whole industry will be sustainable only if there is a value war," he said.

Deng believes that the current trend of electrification in China's auto industry is very clear, and that the penetration rate of electric vehicles (EVs) will exceed 50 percent in the next three years, with EVs becoming absolutely mainstream.

As the primary adopters of EVs shift from tastemakers to the average consumer, the product definition, research and development of vehicles will need to be able to address consumer anxiety and meet demand, he said.

Consumer anxiety is not about the amount of infrastructure or the range of EVs, but about the time it takes to replenish energy, according to Deng.

There is still a long way to go in terms of technology to get charging times from 0.5-1 hour to 5-10 minutes, he said, adding that this anxiety will be there for another 5-10 years.

($1= RMB 6.8930)

NIO keeps goal of doubling sales this year despite price war causing greater challenges

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Date set for next Beijing auto show as Shanghai auto show just started

The 17th Beijing auto show will be held from April 25 to May 4, 2024, after the biennial event was canceled last time due to Covid concerns.

(Screenshot of Auto China website.)

While the Shanghai auto show has just started, the next Beijing auto show is on its way.

The 17th Beijing International Automotive Exhibition (Auto China 2024) will be held from April 25 to May 4, 2024, marking the event's return after a four-year hiatus, according to an announcement made today by the event's organizers.

The auto show will be held at the China International Exhibition Center Shunyi New Venue in Beijing. Meanwhile, the parts show at the China International Exhibition Center Chaoyang Hall will be held from April 25-27.

The Beijing auto show, or Auto China, has been held in Beijing every two years since 1990.

The 17th Beijing auto show was originally scheduled for April 21 - April 30, 2022, but was canceled due to Covid concerns.

Prior to that, the 16th Beijing auto show was postponed to September 26 - October 5, 2020, due to Covid.

The theme of the 2024 Beijing auto show is "New Era, New Auto," the event's organizers said, adding, "We invite the global automotive and related industries to participate in the 2024 Beijing auto show."

Notably, the biennial Shanghai auto show began only three days ago, on April 18, and will run through April 27.

The show attracted more than 1,000 exhibitors with a total exhibition area of more than 360,000 square meters, opening 13 indoor halls at the National Exhibition and Convention Center in Shanghai, with passenger cars occupying nine of them.

NIO (NYSE: NIO) officially launched the 2023 ET7 and unveiled the new ES6 at the show, 's (NYSE: XPEV) new SUV G6 was unveiled, and BYD (OTCMKTS: BYDDY) also unveiled several new models.

NIO launches new ET7, unveils new ES6 at Shanghai auto show

(A picture taken by CnEVPost at the Shanghai auto show, which started on April 18, shows the NIO booth.)

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Svolt Energy’s Dragon Armor Battery makes real-life debut at Shanghai auto show

In a 4C fast-charging solution, the Dragon Armor Battery has 32 percent higher pack capacity compared to the 46 series high nickel cylindrical battery, according to Svolt Energy.

(Image credit: Svolt Energy)

Svolt Energy, which was spun off from Great Wall Motor, gave its Dragon Armor Battery its real-life debut at the ongoing Shanghai auto show, after unveiling the battery late last year.

The battery maker showcased the Dragon Armor Battery at the Shanghai auto show -- which began April 18 and runs through April 27 -- with a video of a previous thermal runaway test on display.

In the test, heating triggered a thermal runaway of a cell in the middle of the pack, but no open fire was seen throughout the pack, Svolt Energy said in an April 19 post on its WeChat account.

The single cell runaway did not spread to adjacent cells, achieving the ultimate power battery safety, the article said.

Compared to the 46-series high nickel large cylindrical battery, the Dragon Armor Battery has 5 percent higher capacity on a 2C fast-charging solution, according to Svolt Energy.

On the 4C fast-charging solution, the Dragon Armor Battery has a 32 percent higher pack capacity compared to 46-series high nickel cylindrical batteries, the company said.

In addition, the highly integrated design of the Dragon Armor Battery reduces size and weight, effectively lowering battery costs, according to Svolt Energy.

The battery is compatible with a wide range of chemistries and can be carried in the A00-D class models, it said.

The strong compatibility shortens the development cycle of new models for car companies, and the versatility of the battery pack further reduces procurement costs, according to the company.

Since the announcement, Dragon Armor batteries have received multiple intent orders from customers, Svolt Energy said, without disclosing customer names.

Svolt Energy unveiled the Dragon Armor Battery at its third Battery Day event on December 15 in Changzhou, Jiangsu province, where it is headquartered.

Like BYD's Blade Battery and 's Qilin Battery, Svolt Energy's Dragon Armor is an innovation in battery pack structure that does not involve battery chemistry.

The Dragon Armor Battery system with lithium iron phosphate cells has improved volumetric pack efficiency to 76 percent and can have a range of more than 800 kilometers, the company said at the time.

Dragon Armor batteries with high-manganese iron-nickel cells can achieve a range of more than 900 kilometers, while such batteries with ternary cells can exceed 1,000 kilometers, Svolt Energy said.

The battery is expected to be on production models in 2023, including an SUV and a coupe in production in October 2023, Svolt Energy Chairman and CEO Yang Hongxin said at the Battery Day event.

Svolt Energy installed 0.43 GWh of batteries in China in March, ranking No. 9 with a 1.53 percent share, according to data released this month by the China Automotive Battery Innovation Alliance (CABIA).

Svolt Energy unveils Dragon Armor Battery capable of giving EVs up to 1,000 km of range

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NIO App sees major changes to vehicle configurator, here are latest model wait times

NIO App's vehicle configurator now available for only 5 models, and the ET7 wait time is back on display.

NIO App sees major changes to vehicle configurator, here are latest model wait times-CnEVPost

(Screenshot on April 21.)

The vehicle configurator on NIO's (NYSE: NIO) Chinese mobile app sees significant changes, following the company's launch of the new ES6 and the 2023 ET7 at the Shanghai auto show.

NIO's website currently showcases seven models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, and ET5.

All models are new based on the NT 2.0 platform, except for the EC6, which is an older model based on the NT 1.0 platform.

In the vehicle configurator of NIO App, only 5 models are available -- the new ES8, ES7, EC7, ET7, ET5, while the configurators of the new ES6 and the NT 1.0 EC6 are not available.

On the first day of the Shanghai auto show on April 18, NIO launched the new ET7 and unveiled the new ES6.

The 2023 ET7 is already taking order lock-ins, with deliveries starting in mid-May. The new ES6 started to take pre-orders, but the official launch and delivery will be late May, William Li, NIO founder, chairman and CEO, said at the time in a brief launch event.

Previously, the NIO website and app are showing eight models, including the ES8, ES6 and EC6 based on the NT 1.0 platform, and the new ES8, ES7, EC7, ET7 and ET5 based on the NT 2.0 platform.

The all-new ES8 currently shows an expected delivery date of June, in line with the previous one. The model was unveiled at the NIO Day event on December 24 last year and has not yet started taking order lock-ins.

The ES7 currently has a wait time of 3-5 weeks, consistent with the previous information. The model was launched on June 15, 2022, and deliveries began on August 28.

The EC7 currently has a wait time of about 4 weeks. The model was unveiled at last year's NIO Day event on December 24 and began allowing consumers to lock in their orders on April 6.

Deliveries of custom vehicles for the EC7 will begin in mid-May, NIO said on April 6.

Wait time for the ET7 is back on display and currently stand at about 4 weeks. On March 13, the NIO App stopped displaying expected delivery times for the ET7.

On April 18, NIO launched the 2023 ET7 at the Shanghai auto show, and began accepting order lock-ins. Deliveries of the model are expected to begin in mid-May, Li said at the time.

The ET5 currently has a wait time of about 2 weeks, in line with the previous one.

In the first half of this year, NIO will introduce more new products to accelerate the pace from product launch to delivery, the company's management said in a call with analysts after announcing fourth-quarter earnings early last month.

The company will also begin deliveries of its fifth new model this year in July, which would be a month later than originally planned, Li said on the call.

NIO's supply chain and manufacturing teams were actively preparing for the new model switchover and production ramp-up to ensure capacity and supply meet the increased demand for new products, the company said at the time.

The company's main model delivered in the first quarter was the ET5, which is a lower-margin model, so the pressure on gross margin in the first quarter was relatively high, Li said.

NIO App sees major changes to vehicle configurator, here are latest model wait times-CnEVPost

(Vehicle configurator in the NIO App. Screenshot on April 21.)

Changes in wait times for NIO models

DateModelPrevChangeLatest
04/21/23ET7 (NT 2.0)NANAAbout 4 weeks
04/21/23EC7 (NT 2.0)Mid MayNAAbout 4 weeks
04/17/23ES7 (NT 2.0)About 2 weeks↑3-5 weeks
04/14/23ES6 (NT 1.0)About 2 weeksNAStop showing
04/10/23ET5 (NT 2.0)About 3 weeks↓About 2 weeks
04/10/23ES7 (NT 2.0)About 3 weeks↓About 2 weeks
03/28/23ET5 (NT 2.0)3-4 weeks↓About 3 weeks
03/28/23ES7 (NT 2.0)4-6 weeks↓About 3 weeks
03/14/23ET5 (NT 2.0)2-3 weeks↑3-4 weeks
03/14/23ES7 (NT 2.0)About 3 weeks↑4-6 weeks
03/13/23ET7 (NT 2.0)About 3 weeksNAStop showing
02/14/23ES7 (NT 2.0)3-4 weeks↓About 3 weeks
02/14/23ET7 (NT 2.0)3-4 weeks↓About 3 weeks
02/14/23ET5 (NT 2.0)About 3 weeks↓2-3 weeks
02/6/23ET5 (NT 2.0)3-4 weeks↓About 3 weeks
01/28/23ES7 (NT 2.0)2-3 weeks↑3-4 weeks
01/28/23ET7 (NT 2.0)2-3 weeks↑3-4 weeks
01/28/23ET5 (NT 2.0)7-9 weeks↓3-4 weeks
01/11/23ET5 (NT 2.0)8-10 weeks↓7-9 weeks
01/5/23ET5 (NT 2.0)9-11 weeks↓8-10 weeks
12/29/22ET5 (NT 2.0)10-12 weeks↓9-11 weeks
12/22/22ET5 (NT 2.0)12-14 weeks↓10-12 weeks
12/20/22ES7 (NT 2.0)4-6 weeks↓2-3 weeks
12/13/22ET5 (NT 2.0)13-15 weeks↓12-14 weeks
12/13/22ET7 (NT 2.0)About 2 weeks↑2-3 weeks
12/13/22EC6 (NT 1.0)About 2 weeksNAStop showing
12/2/22ET5 (NT 2.0)21-23 weeks↓13-15 weeks
11/25/22ES7 (NT 2.0)7-9 weeks↓4-6 weeks
11/25/22ET7 (NT 2.0)3-5 weeks↓About 2 weeks
11/23/22ES8 (NT 1.0)About 2 weeksNAStop showing
11/16/22ET7 (NT 2.0)4-6 weeks↓3-5 weeks
11/10/22ES8 (NT 1.0)2-3 weeks↓About 2 weeks
11/10/22ES6 (NT 1.0)2-3 weeks↓About 2 weeks
11/10/22EC6 (NT 1.0)2-3 weeks↓About 2 weeks
11/3/22ES7 (NT 2.0)11-13 weeks↓7-9 weeks
11/3/22ET7 (NT 2.0)6-8 weeks↓4-6 weeks
11/3/22ES8 (NT 1.0)2-4 weeks↓2-3 weeks
11/3/22ES6 (NT 1.0)2-4 weeks↓2-3 weeks
11/3/22EC6 (NT 1.0)2-4 weeks↓2-3 weeks
10/31/22ES7 (NT 2.0)12-14 weeks↓11-13 weeks
10/31/22ES8 (NT 1.0)3-5 weeks↓2-4 weeks
10/31/22ES6 (NT 1.0)3-5 weeks↓2-4 weeks
10/31/22EC6 (NT 1.0)3-5 weeks↓2-4 weeks
10/21/22ES7 (NT 2.0)13-15 weeks↓12-14 weeks
10/21/22ET7 (NT 2.0)11-13 weeks↓6-8 weeks
10/21/22ET5 (NT 2.0)21-23 weeksNAStop showing
10/21/22ES8 (NT 1.0)4-6 weeks↓3-5 weeks
10/21/22ES6 (NT 1.0)4-6 weeks↓3-5 weeks
10/21/22EC6 (NT 1.0)4-6 weeks↓3-5 weeks

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CATL sees record net profit growth in Q1 as lithium prices plunge

Lithium carbonate prices fell more than 50 percent in the first quarter, allowing CATL to see record net profit growth of 557.97 percent in the quarter.

CATL sees record net profit growth in Q1 as lithium prices plunge-CnEVPost

Chinese power battery giant CATL saw strong net profit growth in the first quarter, as raw battery material prices fell.

In the first quarter, CATL saw revenue of RMB 89.04 billion, up 82.91 percent year-on-year but 24.7 percent lower than in the fourth quarter of last year, according to its earnings report released today.

CATL sees record net profit growth in Q1 as lithium prices plunge-CnEVPost

Its net profit attributable to shareholders in the first quarter was RMB 9.82 billion, up 557.97 percent year-on-year but 25.2 percent lower than in the fourth quarter.

CATL's gross margin in the first quarter was 21.27 percent, up from 14.48 percent a year ago but slightly lower than the 22.57 percent in the fourth quarter.

CATL sees record net profit growth in Q1 as lithium prices plunge-CnEVPost

The first quarter is typically a slow quarter for the Chinese auto market, and a rare price war has put an additional dent in electric vehicle (EV) sales.

In the first quarter, retail sales of new energy passenger vehicles in China were 1,313,610 units, up 22.81 percent year-on-year, but down 26.73 percent from the fourth quarter, according to the China Passenger Car Association (CPCA).

As a supplier with about 50 percent share of the Chinese power battery market, CATL's revenue in the first quarter was impacted by weak sales of NEVs.

However, CATL was among the first to profit as lithium carbonate prices fell sharply in the first quarter, with a record high 557.97 percent year-on-year net profit growth.

So far this year, the price of lithium carbonate, a key raw material for batteries, has not seen a single day of gains this year, according to data provider Mysteel.

The average price of battery-grade lithium carbonate fell to RMB 180,000 per ton today, while the average price of industrial-grade lithium carbonate was at RMB 135,000 per ton, down about 70 percent from their highs in November last year.

On March 31, the average price of battery-grade lithium carbonate was RMB 245,000 per ton, down 53 percent from RMB 517,500 per ton at the beginning of the year, according to data monitored by CnEVPost.

CATL sees record net profit growth in Q1 as lithium prices plunge-CnEVPost

When the price of lithium carbonate decreases by RMB 100,000 per ton, ternary lithium batteries and LFP batteries will see marginal cost decreases of RMB 60 to RMB 70/kWh, respectively, said Haitong International Securities analyst Yang Bin's team in a March 30 research note.

In this scenario, battery costs would be RMB 4,200 to RMB 4,900 lower for an all-electric vehicle with a 70-kWh battery capacity, according to the team.

Analysts explain how falling lithium carbonate prices affect EV costs

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Zeekr sees 100,000th vehicle roll off line

This is 548 days after its first production vehicle rolled off the line on October 19, 2021. As of the end of March, Zeekr's cumulative deliveries since its inception reached 93,182 vehicles.

(Image credit: Zeekr)

Zeekr saw its 100,000th vehicle roll off the line today, marking a milestone in the history of the Geely-owned premium electric vehicle brand.

The 100,000th vehicle, a Zeekr 009 MPV powered by 's Qilin Battery, was produced at Zeekr's plant in Ningbo, Zhejiang province.

This comes 548 days after its first production vehicle rolled off the production line on October 19, 2021, which means Zeekr is averaging about 5,474 vehicles per month in mass production.

The rollout of the 100,000th vehicle is another important milestone for Zeekr, marking a new phase of growth for the brand, the company said in a press release.

This year, Zeekr will continue to enrich its product matrix and accelerate its strategy to expand into overseas markets, it said.

On the first day of the Shanghai auto show on April 18, Zeekr unveiled its European strategy and said that the flagship Zeekr 001 shooting brake and Zeekr X urban SUV will debut in Sweden and the Netherlands in the fourth quarter.

Zeekr was officially launched as an independent company in March 2021, with its first model, the Zeekr 001, launched on April 15, 2021, and deliveries starting in October 2021.

The first production vehicle of Zeekr 001 rolled off the production line on October 19, 2021, and 199 units of the model were delivered that month.

On February 9, 2022, Zeekr's cumulative deliveries reached 10,000 units, and last October 15 Zeekr announced the delivery of its 50,000th vehicle.

On November 1, 2022, Zeekr's second model, the Zeekr 009 MPV, was launched, and its deliveries began on January 15.

On April 12, Zeekr launched its third model, the Zeekr X, which it hopes will become the benchmark for luxury compact cars.

The Zeekr X is already taking reservations and deliveries will begin in June, with the model aiming to deliver 40,000 units this year.

Deliveries of the ME version of the Zeekr 009 MPV began on April 17, marking the global debut of the Qilin Battery in production vehicles.

The Zeekr 009 ME version is equipped with a battery pack with a capacity of 140 kWh, providing a CLTC range of 822 km, the highest of any pure electric MPV.

Zeekr delivered 6,663 vehicles in March, bringing the cumulative deliveries since inception to 93,182. The company aims to see sales double to about 140,000 units this year compared to last year.

Zeekr releases Europe strategy, 2 models to debut in Sweden and Netherlands in Q4

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