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Permalink | Email this | CommentsPassenger vehicle sales in China are expected to be around 1.73 million units in May, up 27.7 percent year-on-year and up 6.6 percent from April, the CPCA said.
In May, retail sales of new energy vehicles (NEVs) in China are expected to be around 580,000 units, up 60.9 percent year-on-year and up 10.5 percent from April, according to estimates released today by the China Passenger Car Association (CPCA).
Survey shows that major automakers, which contribute about 80 percent of passenger car sales, are targeting retail sales growth of more than 5 percent in May compared to April and an improvement of more than 20 percent year-on-year, the CPCA said.
According to preliminary projections, Chinese passenger car sales in May were around 1.73 million units, up 27.7 percent year-on-year and up 6.6 percent from April, the CPCA said.
That means the penetration rate of NEVs at retail in May was about 33.5 percent.
During the Labor Day holiday, many cities held auto shows, giving the auto market a high level of attention, the CPCA said. This year, China's Labor Day holiday ran from April 29 to May 3.
The incentives offered by car companies, coupled with local government policies to promote consumption, allowed the Chinese auto market to see a good start in May, with market sentiment and transactions significantly better than the same period in previous years, the CPCA said.
However, as some consumer demand was released at the beginning of the month, the market enthusiasm dropped back significantly as traffic and orders at sales stores turned light after the holidays, the CPCA noted.
Average daily retail sales for major vehicle companies in the first week of May were 53,600, up 46 percent from the previous week and up 67 percent year-on-year.
Average daily retail sales for the second week were 47,300, up 5 percent from the previous week and up 44 percent year-on-year.
Average daily retail sales in the third week are expected to be 53,000, and in weeks four and five the figure is expected to be 72,500, the CPCA said.
In mid-May, the overall discount rate in China's passenger car market was about 16.9 percent, largely unchanged from the previous month, with prices at sales outlets stabilizing, according to the CPCA.
CPCA weekly data: NEV retail sales for 1st 2 weeks of May at 217,000
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Weekly sales are back.
The post China NEV sales in the week of May 15-21: Li Auto 7100, Nio 1400, Tesla 10200 appeared first on CarNewsChina.com.
The Baojun Yep prices and specs were unveiled before the official launch. It has appeared to be cheaper than we thought.
The post Baojun Yep electric SUV from GM, SAIC and Wuling to start from 11,885 USD in China appeared first on CarNewsChina.com.
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Tesla vehicles registered 10,200 insurance units in China last week, bringing the number to 26,118 for the first three weeks of May.
Li Auto founder, chairman and CEO Li Xiang said last week that they had been complained about by some of their peers and therefore could not continue to share the weekly insurance registration numbers.
Interestingly, however, the company resumed sharing those numbers today to continue to show that it leads the pack among Chinese new energy vehicle (NEV) startups.
For the week of May 15 to May 21, Li Auto sold 7,100 units, far outpacing other new car brands and reigning as the weekly sales leader for new automaking brands in the Chinese market, the company said today on Weibo.
Li Auto did not explain on what basis the sales were counted, but apparently, they were insurance registrations.
Li Auto surpassed all other traditional luxury brands except Mercedes-Benz, BMW and Audi to remain in the top five luxury brands in the Chinese market in terms of sales, the highest-ranked Chinese brand on the list, it said.
In the first two weeks of May, Li Auto vehicles had 4,543 and 6,670 insurance registrations, respectively. This means that from May 1 to May 21, Li Auto sold about 18,313 vehicles.
The tables Li Auto shared today show that NIO vehicles had 1,400 insurance registrations last week. This means that NIO had 3,700 insurance registrations for the first three weeks of May.
NIO deliveries continue to be curbed by the upcoming launch of the new ES6, with insurance registration figures of 1,100 and 1,200 in the first and second weeks of May, respectively.
NIO will officially launch the new ES6 on May 24, and its deliveries will start on May 25.
The company is getting the ES6 to market with unprecedented delivery efficiency, and as of May 20, the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.
XPeng registered 1,500 insurance units last week, the same as the previous week. In the first three weeks of May, XPeng vehicles had 3,870 insurance registrations.
XPeng deliveries were also dampened by the new model G6, which is expected to officially launch and begin deliveries at the end of next month.
Insurance registrations for Tesla vehicles in China were 10,200 last week, bringing the figure to 26,118 for the first three weeks of May. The number was 5,928 and 9,990 in the first two weeks of May.
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Both models are eligible for a C$,000 federal incentive in Canada.
(Screenshot of Tesla Canada website.)
Tesla (NASDAQ: TSLA) is listing China-made Model 3 and Model Y electric vehicles (EVs) for sale in Canada, confirming that it has completed its first shipments to North America from its Shanghai plant, according to a Reuters report today.
The rear-wheel drive Model Y and the long-range all-wheel drive version of the Model 3 are available for immediate delivery in British Columbia, with codes indicating they were built at Giga Shanghai, the report said.
Both models are eligible for a C$5,000 ($3,695) federal incentive in Canada, which, unlike the US, does not link EV subsidies to the location of the plant where the cars are built, the report noted.
Tesla and other EV makers have a cost advantage in China, and exports to Canada have opened up a new market for Giga Shanghai, the report said.
(Screenshot of Tesla Canada website.)
The company has designed and tested Model Y cars for export to North America and aims to produce nearly 9,000 for export this quarter, the report said, citing a Tesla production plan.
On April 24, Reuters cited people familiar with the matter and a production memo as saying that Tesla had begun production in Shanghai of the Model Y that will be sold in Canada this year.
It will be the first time the company has shipped cars from China to North America, a move that will connect Tesla's largest and most cost-effective factory in the world with its largest market, North America, the report said.
Tesla's Shanghai plant, which makes the Model 3 as well as the Model Y, not only supplies vehicles to local consumers but is also an export center for the EV maker.
Tesla delivered 39,956 vehicles in China in April, and the Shanghai plant exported 35,886, according to data released earlier this month by the China Passenger Car Association (CPCA).
For the full year 2022, Tesla delivered 439,770 vehicles in China, up 37.11 percent from 320,743 vehicles in 2021.
Tesla's Shanghai plant exported 271,095 vehicles in 2022, according to data monitored by CnEVPost.
Tesla's Shanghai plant produced about 727,000 units in 2022, up 49.7 percent from a year earlier, contributing 23 percent of Shanghai's auto manufacturing output, a local official said earlier this month.
($1 = C$1.3530)
Tesla's revamped Model 3 nears final trial production in Shanghai, report says
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SAIC is ramping up development work on solid-state battery cells, with its first production model powered by solid-state battery set to roll off the assembly line in 2025, it said.
(A concept car from SAIC's IM Motors on display at the 2023 Shanghai Auto Show. Image credit: CnEVPost)
China's largest carmaker SAIC Group expects to see its first model with solid-state battery roll off the assembly line in two years, as more local carmakers target the new battery technology for a longer range.
SAIC is ramping up its research and development work on solid-state battery cells and is making every effort to promote the large-scale application of solid-state batteries, the company said in a recent investor survey, according to a May 22 report by local media Jiemian.
SAIC's first mass-produced model with the solid-state battery will roll off the production line in 2025, it said, adding that it will allow users to enjoy a safe car experience while providing them with higher energy density power battery cells.
The report did not provide any further details. SAIC has not disclosed the investor activity.
On May 19, Ganfeng Lithium -- the world's largest lithium producer by market capitalization -- said in the minutes of an investor meeting that it had begun mass production of its first-generation solid-state battery.
Ganfeng's first-generation solid-state battery can reach an energy density of 260 Wh/kg, and its production line is designed to have an annual capacity of 4 GWh, according to the minutes.
Back at SAIC, its solid-state battery appears to have been developed with local startup QingTao Energy Development, similar to what NIO did with Beijing WeLion New Energy Technology.
On July 6, 2022, SAIC announced that it had set up a joint lab with QingTao to develop solid-state batteries.
The two will focus on the mass production of solid-state batteries with a range of more than 1,000 kilometers, 4C fast-charging technology and the development of high-safety, long-life solid-state batteries, according to a press release at the time.
C refers to the battery's charging multiplier, and 4C means that the battery could theoretically be fully charged in a quarter of an hour.
The lab will also conduct high-efficiency solid-state battery integration technology development to push solid-state battery technology to accelerate mass production, SAIC previously said.
NIO unveiled a 150-kWh semi-solid-state battery when it launched its flagship sedan, the NIO ET7, at the NIO Day 2020 event on January 9, 2021, thus bringing the new battery technology to wider attention.
Earlier this month, NIO filed for the addition of WeLion as a battery cell supplier in three models, signaling that its 150-kWh semi-solid-state battery pack is not far from being available.
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The Zeekr 009 MPV from Geely will soon get the version with four seats. Its luxuriousness will be enhanced.
The post Zeekr 009 electric MPV will get a luxurious 4-seat version in China. Patents revealed appeared first on CarNewsChina.com.
Dongfeng Honda has sent a shipment of hybrid Honda CR-Vs and all-electric e:NS1s from Shanghai to Europe, with the vehicles expected to arrive at a Belgian port in late June.
(Image credit: Dongfeng Honda)
Japanese auto giant Honda's joint venture with Dongfeng Motor in China has started exporting cars, which is expected to allow China to see further growth in auto exports.
Dongfeng Honda began shipping a shipment of new energy vehicles (NEVs) from Shanghai to Europe on May 15, opening a new chapter in the joint venture's overseas endeavors, it said on May 21.
The vehicles are the hybrid Honda CR-V as well as the all-electric e:NS1, and they will be shipped to several European countries, according to a press release from Dongfeng Honda.
They include 300 CR-V plug-in hybrids, which are expected to arrive at the Belgian port of Zeebrugge in late June, after which they will be shipped to about two dozen countries, including the UK, Ireland, Iceland, Greece and Portugal, Dongfeng Honda said, without disclosing the number of e:NS1s.
Honda held a launch event for the company's electrification efforts in China on October 13, 2021, to officially unveil its pure electric vehicle brand e:N, where the "e" stands for Energize and Electric and the "N" refers to New and Next.
The brand's two production models, Dongfeng Honda's e:NS1 and GAC Honda's e:NP1, made their debut in China at that time.
Dongfeng Honda made the e:NS1 officially available in China on April 27, 2022, when it was priced at RMB 175,000 ($24,800) to RMB 218,000.
Dongfeng Honda began exporting vehicles from China at a time when Chinese auto exports have been growing rapidly over the past two years.
In March, 387,000 vehicles were exported from China, up 88.78 percent year-on-year and 19.44 percent from February, according to the China Passenger Car Association (CPCA).
($1 = RMB 7.0548)
CATL signs deal with Honda to supply batteries that can power 2 million EVs
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"We need to think strategically with a long-term mindset and use that to guide our short-term actions," Li said.
(Image credit: NIO Capital)
NIO Capital recently held its annual investor conference in Hefei, Anhui province, where its managing partner William Li spoke and highlighted the choices NIO (NYSE: NIO), of which he is a founder, is making in times of uncertainty.
Li is not only at the helm of NIO Capital, a venture capital firm with a US dollar fund as well as a RMB fund, but is also the founder, chairman and CEO of NIO.
The conference was the first time in three years that NIO Capital brought together investors from its RMB and US dollar funds, and in addition to presentations and roundtable conversations, attendees toured NIO's manufacturing facilities, according to a press release today.
Li gave a keynote speech at the conference, sharing his views on the development of NEVs (NEVs) and corporate strategy, according to the release, which included a photo showing Li highlighting NIO's choice in times of uncertainty.
Last year was a landmark year for the global NEV industry, as global sales of NEVs exceeded 10 million for the first time, with China contributing close to 70 percent of the sales, according to Li.
Even during the Covid epidemic, China's NEV sales performance was still surprising, showing that the NEV industry has fully transitioned from being policy-driven to being product-driven and market-driven, which is a historic watershed, Li said.
Nonetheless, the future remains challenging, and increased uncertainty is a trend that almost everyone agrees on, he said.
"In today's world, we must learn to think about how to grow, how to manage risk, and how to take advantage of opportunities in a more volatile and uncertain world," Li said.
"We need to think strategically with a long-term mindset and use that to guide our short-term actions. We need to be more aggressive in meeting the challenges of the market while ensuring that the company's operational risks are manageable," he added.
Ian Zhu, another managing partner at NIO Capital, also spoke and said the venture capital firm has made aggressive investments in the areas of smart cockpits, battery technology, energy transition, semiconductors and automotive ecology since 2022.
NIO Capital didn't provide much more on NIO, though many of its investments are around the NEV industry chain and are sometimes made alongside NIO.
NIO and NIO Capital invested in fusion startup Neo Fusion, taking a 19.9 percent and 10.1 percent stake, respectively, according to a CnEVPost report last week.
NIO also seems to be hoping that NIO Capital's investment will help it get better access to resources for building more attractive electric vehicles.
NIO announced the panoramic digital cockpit PanoCinema when it launched the ET5 sedan on December 18, 2021.
It announced at that time the introduction of AR glasses developed jointly with Nreal, an AR technology company that is a portfolio company of NIO Capital.
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