Category: China

NIO starts delivery of 2023 ET7 sedan

On May 19, deliveries of the 2023 ET7 began in several cities, including Shanghai, Beijing, Hefei, Nanjing, Hangzhou, Ningbo, Wenzhou, Guangzhou, Shenzhen and Changsha.

NIO (NYSE: NIO) has begun deliveries of the 2023 ET7, its flagship sedan's facelift that was officially launched at the Shanghai auto show a month ago.

Deliveries of the 2023 NIO ET7 began on May 19 in several cities, including Shanghai, Beijing, Hefei, Nanjing, Hangzhou, Ningbo, Wenzhou, Guangzhou, Shenzhen and Changsha, a company press release said, without disclosing the number of deliveries.

NIO launched the 2023 ET7 on the first day of the Shanghai auto show on April 18, bringing more than 15 upgrades, including improved seats and a 40w wireless charging panel for cell phones, but the prices remain unchanged.

Including the battery, the starting price for the new ET7 with the 75-kWh battery pack is RMB 458,000 ($65,350), and RMB 516,000 for the version with a 100-kWh long-range pack.

If consumers choose to purchase the car using the BaaS (battery as a service) program, both models start at RMB 388,000 and the monthly battery rental fee is RMB 980 and RMB 1,680 respectively.

In addition to these two versions, the new ET7 is also available in a Signature Edition with a 100-kWh battery pack for a starting price of RMB 536,000 including the battery. The model starts at RMB 408,000 under the BaaS plan, with a monthly battery rental fee of RMB 1,680.

The ET7, NIO's first sedan and the first model on its NT 2.0 platform, was initially launched at the NIO Day 2020 event on January 9, 2021 and sees first delivery on March 28, 2022.

In the second half of 2022, the ET7 was repeatedly in the top 10 of the China Passenger Car Association's (CPCA) monthly ranking of premium sedan sales in China with a starting price above RMB 300,000.

The sedan saw its highest sales month in June 2022, when 4,349 units were sold.

However, heading into 2023, sales of the model plummeted, selling less than 800 units in each of the first three months, according to data monitored by CnEVPost.

The day before deliveries of the 2023 ET7 began, NIO announced on May 18 that it was offering an upgrade program for the interior of the 2022 ET7 that would allow owners to pay for some of the additional features the new ET7 has.

Besides launching the 2023 ET7 on April 18, NIO also unveiled the new ES6, an SUV that is more important to the company, contributing about half of its deliveries from 2019 to 2021.

The launch event of the new ES6 will begin on May 24 at 7:00 pm Beijing time (May 24 at 7:00 am US Eastern time), and its deliveries will begin on May 25.

($1= RMB 7.0079)

NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign

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NIO’s new ES6 launch event to begin at 7:00 pm Beijing time on May 24

Show cars of the new ES6 are already available at stores, and those interested can visit NIO Houses to check out the model, NIO said.

(Image credit: CnEVPost)

NIO (NYSE: NIO) announced earlier this week that the new ES6 would be officially launched on May 24, but no specific time was announced, and now they've been known.

The launch of the new ES6 will begin at 7:00 pm Beijing time on May 24 (7:00 am US Eastern time on May 24), and viewers will be able to watch a live video stream on channels including the NIO App, NIO.com and NIO Weibo, the electric vehicle (EV) maker announced today.

The new ES6 show cars are already available in NIO stores, and those interested can visit NIO Houses to check out the model, NIO said.

Of note for China EV trio watchers, (NYSE: XPEV) will report its first-quarter financial results on May 24 before the US markets open, with its earnings call starting at 8:00 pm Beijing time that day.

NIO announced on May 16 that the new ES6 will be officially launched on May 24, test drives will be available on the same day and deliveries will begin on May 25.

This will be NIO's fastest model from official launch to delivery, as its local peers, including (NASDAQ: LI), have proven that efficient delivery is critical to success in the highly competitive Chinese EV market.

NIO launched the first-generation ES6 in December 2018 and began delivering the model in China in June 2019.

From 2019 to 2021, NIO delivered 155,722 vehicles, of which the ES6 contributed 80,852, or 52 percent, data monitored by CnEVPost shows.

Available data for 2022 show that from January to August, the ES6 delivered 32,877 units, contributing 46 percent of NIO's total deliveries of 71,556 units for the period.

NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign

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Gotion unveils new battery based on LMFP chemistry with range up to 1,000 km

The pack is based on Gotion's new L600 LMFP cells with an energy density of 240 Wh/kg and will be in mass production in 2024.

(Astroinno Battery. Image credit: Gotion High-tech)

Several Chinese power battery makers have previously announced batteries with ranges of up to 1,000 km, but all are based on nickel-cobalt-manganese (NCM) ternary materials.

Now Gotion High-tech has unveiled a new battery technology, which claims to be able to achieve a range of 1,000 km even without the use of expensive ternary materials.

Hefei, Anhui-based Gotion unveiled its L600 LMFP battery cells based on lithium iron phosphate (LFP) chemistry and a battery pack called Astroinno Battery at its 12th technology conference today.

The L600 LMFP cells have an energy density of 240 Wh/kg, or 525 Wh/L. The cells support 4,000 cycles at room temperature and 1,800 cycles at high temperature, according to the company.

A battery system based on the L600 LMFP cell could have an energy density of 190 Wh/kg, which is higher than the energy density of packs based on ternary chemistry systems that are in mass production now, Gotion said, adding that the new cell will be in mass production in 2024.

The energy density growth of mass-produced LFP cells has faced a bottleneck, and further improvements require chemical system improvements, so the LFP solution with manganese addition was born, said Cheng Qian, Gotion's executive president of international operations.

Gotion unveiled the Astroinno Battery based on L600 LMFP cells, saying that the pack uses a sandwich structure with double-sided liquid cooling technology and minimalist design, resulting in a 45 percent reduction in the number of structural components and a 32 percent reduction in the weight of structural components.

The minimalist electrical design thinking makes the pack's wiring harness length only 26 percent of the previous one, from the original 303-meter harness down to 80 meters, with a volumetric grouping efficiency of 76 percent, according to the company.

The pack has an energy density of 190 Wh/kg, surpassing the energy density of ternary batteries currently on the market, Gotion said.

Gotion is not the first manufacturer to release a 1,000-km range battery pack, but it is the first to achieve that range based on the LFP chemistry system.

, China's largest power battery maker, unveiled Qilin Battery, or CTP (cell to pack) 3.0, on June 23, 2022, claiming an energy density of up to 255 Wh/kg to support a vehicle with a 1,000km range.

The Qilin Battery is an innovation in battery structure, not a chemical system, and a 1,000 km range battery pack requires NCM chemistry.

The first Qilin Battery with a 1,000 km range is the 001 of Zeekr, a premium electric vehicle brand of , and deliveries of the model with this range have already started on May 16.

On April 21, Svolt Energy, which was spun off from Great Wall Motor, made the real-life debut of its Dragon Armor Battery at the Shanghai auto show.

Dragon Armor is also an innovation in battery pack structure without involving battery chemistry.

Svolt Energy said that the Dragon Armor Battery with LFP cells could have a range of more than 800 kilometers, while such batteries with ternary cells could have a range of more than 1,000 kilometers.

Gotion installed 1.18 GWh of power batteries in China in April, ranking fifth with a 4.68 percent share, according to the China Automotive Battery Innovation Alliance (CABIA).

In the LFP market, Gotion ranked fourth with a 6.17 percent share in April.

Gotion posts 135% year-on-year profit growth in Q1, site for US battery plant nears finalization

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NIO invests in nuclear fusion startup Neo Fusion

has acquired a 19.9 percent stake in Neo Fusion and NIO Capital has acquired a 10.1 percent stake.

(Image credit: CnEVPost)

NIO (NYSE: NIO) has invested in a new nuclear fusion startup, its second such investment in the past year or so.

The Chinese electric vehicle (EV) maker has invested in nuclear fusion startup Neo Fusion and told CnEVPost that the project will be funded by multiple parties, including NIO and NIO Capital, in phases, and that it plans to attract additional strategic and financial investors to support the project's long-term development.

The investment was first reported by Reuters earlier today. NIO invested RMB 995 million ($142 million) for a 19.9 percent stake, while NIO Capital, an investment firm founded by its founder, chairman and CEO William Li, invested RMB 505 million for a 10.1 percent stake, according to the report.

The newly formed Neo Fusion will research and develop technologies aimed at making controlled fusion available for global commercial use within 20 years, the report noted.

Neo Fusion has a registered capital of 5 billion yuan and is 50 percent controlled by China's eastern province of Anhui government-owned energy companies and investment arms, according to the report.

"Fusion power is a clean and efficient energy source, and also potentially one of the ultimate clean energy solutions to sustainability, making fusion power strategically significant to carbon peaking and carbon neutrality, as well as solving the global energy crisis," NIO said in a statement sent to CnEVPost.

Staying true to the original aspiration of Blue Sky Coming, NIO aims to facilitate the R&D and commercialization of nuclear fusion technology by making financial investment into this project, so that it can play a bigger part in realizing long-term suitability and enhance its influence industry-wide, the statement said.

Notably, NIO Capital had invested in a company engaged in a similar business a year earlier.

On February 25, 2022, Energy Singularity, a startup researching nuclear fusion technology, announced the closing of a nearly RMB 400 million round of funding, its first since founding in 2021.

NIO Capital and local gaming giant miHoYo were co-leaders in the funding, with Sequoia China Seed Fund and Bluerun Ventures participating in the financing.

The funds will be used primarily to develop and build the world's first small-scale tokamak experimental device based on high-temperature superconducting materials, and to develop advanced magnet systems that can be used in the next generation of high-performance fusion devices.

($1 = RMB 7.0217)

NIO Capital invests in nuclear fusion technology startup

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NIO signs deal with Autoliv, world’s largest maker of airbags and seat belts

and Autoliv are working together to develop a new airbag concept that provides comprehensive protection for different seating positions.

(Image credit: CnEVPost)

NIO (NYSE: NIO) has entered into a partnership agreement with Autoliv Inc, the world's largest manufacturer of airbags and seat belts, as the Chinese electric vehicle (EV) maker continues to expand its partnerships.

Autoliv China, a subsidiary of Autoliv, signed a strategic cooperation framework agreement with NIO that includes several new safety technologies for EVs, according to a press release from the Swedish company.

NIO and Autoliv will develop safety products for EVs and sustainable technologies, which will include a passenger airbag that deploys from the headliner using an environmentally friendly inflator.

The two are also co-developing a new airbag concept that provides full protection for different seating positions, according to the press release.

This could provide better protection and offer more freedom in the design of vehicle interiors, Autoliv said, adding that it also includes biology-based materials for both airbag cushions and seatbelt webbing.

"We have a shared commitment to innovation and sustainability, and we expect the cooperation will be extended to more areas, as we strive to enhance the driving experience and provide pleasant journeys for all global users", said Yu Pan, vice president of supply chain development at NIO.

This is the latest collaboration between NIO and auto parts suppliers.

On May 2, Dutch-headquartered computer chip maker NXP Semiconductors announced that NIO will use its 4D imaging radar solution, which offers benefits far beyond those of conventional radar.

4D imaging radar will significantly improve the performance of front-facing radar in today's vehicles, and NXP's imaging radar technology extends the functionality of radar from measuring range and speed to include direction, angle of arrival and altitude measurements, the chipmaker said.

NIO delivered 6,658 vehicles in April, up 31.22 percent from 5,074 a year ago, but down 35.85 percent from 10,378 in March, as its product switch continues.

The EV maker is now marketing the new ES6 with unprecedented intensity, with the model set to be officially launched on May 24 and deliveries to begin on May 25.

NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign

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NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign

The new ES6 will be 's fastest model from official launch to delivery, and the company is marketing the model with unprecedented intensity.  |  NIO US | NIO HK | NIO SG

NIO's (NYSE: NIO) previous operational issues not only cost some models' potential orders from the initial hype, but also left many supporters disappointed.

Now, the upcoming new ES6 is key to turning its image around, and the company can't afford to face similar failures.

NIO made the new ES6 debut on April 18, but no pricing information was announced at that time.

On May 16, the company announced that the new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries to begin on May 25.

This will be NIO's fastest model from official launch to delivery, as its local peers, including (NASDAQ: LI), have proven that efficient delivery is critical to success in the highly competitive Chinese EV market.

Although the new ES6 is still days away from its official launch, NIO appears to have already produced thousands of the model so that initial order holders can get their hands on the vehicle on the first day of delivery.

On Chinese social media, images of the new ES6 being shipped to various cities have started to appear in the past two days.

Here are images shared on Weibo today by longtime NIO follower @肉肉爸比ev, saying that these ES6s were photographed in a service area in Guangzhou.

(Image credit: @肉肉爸比ev)

Yesterday, another auto blogger Wu Ying shared several similar pictures, saying that NIO has been shipping the new ES6 out of its Hefei factory since May 17.

(Image credit: @吴颖碎碎念)

While improving delivery efficiency, NIO is also marketing the new ES6 with unprecedented intensity.

Since May 5, NIO has released four marketing videos about the ES6 with the theme "Life Is On" to introduce the model's performance, interior, space, and assisted driving package to potential consumers.

Here is the fourth episode of the series released by NIO today.

 

The new ES6 has taken up most of the space on the recommended section of the NIO App's home page, and NIO has also opened a special showcase page for the model.

In addition to NIO's own channels, other channels are also ready to market the new ES6.

The company invited local journalists and influencers to Beijing earlier this week to take test drives for the new ES6.

After these test drives are allowed to be published, mainstream Chinese social media platforms are expected to be filled with content about the new ES6.

The unprecedented preparation for the new ES6 underscores the model's strategic importance to NIO.

NIO launched the first generation ES6 in December 2018 and began deliveries of the model in China in June 2019.

In 2019, NIO delivered 20,565 vehicles, including 9,132 ES8s and 11,433 ES6s, with the ES6 contributing 55.59 percent, according to data monitored by CnEVPost.

In 2020, the company delivered 43,728 vehicles, including 10,861 ES8s, 27,945 ES6s and 4,922 EC6s, with a 63.9 percent contribution from the ES6.

In 2021, NIO delivered 91,429 vehicles, including 20,050 ES8s, 41,474 ES6s and 29,905 EC6s, with a 45.36 percent contribution from the ES6.

Available data for 2022 show that from January to August, 32,877 ES6 units were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units during this period.

NIO to officially launch new ES6 on May 24, delivery to start next day

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NIO applies for trademarks related to Firefly in China

The Firefly is 's smaller model project that is expected to debut in Europe in the third quarter of 2024, company executives previously said.  |  NIO US | NIO HK | NIO SG

(Image credit: CnEVPost)

NIO (NYSE: NIO) appears to be continuing to move forward with work related to its third sub-brand, though it is currently focused on the launch of the new ES6.

The electric vehicle (EV) maker filed applications for six Firefly-related trademarks in China on May 12, information from data provider Tianyancha shows.

The six trademarks are included in two classifications, construction and scientific instruments, including different combinations of NIO and Firefly, and appear to be primarily aimed at trademark protection.

Two of these trademarks are identical but belong to different classifications.

NIO management has previously said on several occasions that the company is creating two sub-brands codenamed ALPS as well as Firefly to target a broader mass market.

It is worth noting that both ALPS and Firefly are project code names for NIO's sub-brands, and not necessarily the final brand names.

On January 26, NIO co-founder and president Qin Lihong said at a face-to-face communication event with owners that NIO is preparing a model for the sub-brand codenamed ALPS, which is expected to start delivery within 2024.

The Firefly project is also being planned and will be delivered first to European consumers, Qin said at the time.

The smaller model of NIO is in development and will debut in Europe and is expected to be available in the third quarter of 2024, according to Qin.

William Li, founder, chairman and CEO of NIO, was quoted in German magazine Der Spiegel on April 29 as saying the company aims to capture Volkswagen's market share by introducing a model to the European market priced below 30,000 euros ($32,310).

"Yes, in terms of price that means we are also attacking Volkswagen more strongly than before," Der Spiegel quoted Li as saying, without providing further details.

On February 21, local media Cailian reported that NIO's fourth vehicle assembly plant will be located in Chuzhou, Anhui province, and will produce Firefly models.

NIO's vehicles are currently produced in two assembly plants located in Hefei, Anhui.

The Firefly model will be sold first in Europe, targeting the Volkswagen POLO market, Cailian said, citing an insider, adding that, like NIO's other products, they will support battery swap and battery leasing.

Compared to the main NIO brand and the ALPS project, the Firefly models will have weaker smart driving features, but they will still have a clear smart advantage over the European carmaker's offerings, the insider said.

NIO is preparing for the launch of the new ES6 in China, which will go on sale on May 24 and deliveries will begin on May 25.

($1 = €0.9284)

NIO plans to launch EV priced below 30,000 euros in Europe, report says

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BYD says 2023 Han DM series gets 8,051 orders on day of launch

Of the 8,051 orders received on launch day, the average price exceeded RMB 240,000, with 35.9 percent of consumers ordering the model with a range of 200 km, said.

(Image credit: BYD)

Facelifts of the hybrid variants of BYD's flagship sedan Han garnered thousands of orders on launch day, underscoring that its strategy of making prices lower by releasing revamped versions of current models is working.

The 2023 Han DM-i and Han DM-p garnered 8,051 orders on launch day, the Chinese new energy vehicle (NEV) giant announced today.

Both models were officially launched in China yesterday afternoon, with the 2023 Han DM-i offered in six versions starting at RMB 189,800 ($27,000), RMB 199,800, RMB 209,800, RMB 219,800, RMB 239,800 and RMB 249,800, and the 2023 Han DM-p offered in just one version with a starting price of RMB 289,800.

Compared to the previous starting prices of these two models, the Han DM-i is RMB 28,000 lower and the Han DM-p is RMB 32,000 lower.

The 2023 Han DM-i is available in four versions with an NEDC pure electric range of 121 km and two other versions with 200 km. The new Han DM-p has an NEDC pure electric range of 200 km.

Of the 8,051 orders received on launch day, the average price exceeded RMB 240,000, with 35.9 percent of consumers ordering the model with a 200-km range, BYD said today.

The massive price war that erupted in China's auto industry in March is seen as having largely subsided, though BYD's strategy of making prices even lower by releasing new models is making things interesting.

Many BYD models are offered in both pure electric and plug-in hybrid versions, with the latter may also include a DM-i version that focuses more on fuel economy and a DM-p version that focuses more on performance.

On March 16, BYD made the 2023 Han EV available for a starting price of RMB 209,800, down from RMB 219,800 for the model's 2022 version.

On May 10, BYD made a revamped version of its all-electric Seal sedan available, with a starting price of RMB 23,000 lower than the previously available model.

BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said at a March 29 investor conference.

The company sold 210,295 NEVs in April, up 98.31 percent from 106,042 a year earlier and up 1.55 percent from 207,080 in March, data released earlier this month showed.

($1 = RMB 7.0566)

BYD launches facelifts of Han sedan's hybrid variants with lower prices

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Price competition in China auto industry poised to ease in May, analysts say

Discounts on passenger cars in China continued to expand in April, but the industry is seeing some positive changes heading into May.

Price competition in China auto industry poised to ease in May, analysts say-CnEVPost

(Image credit: CnEVPost)

The price wars that erupted in the Chinese auto industry in March carried over into April. However, analysts see fewer car discounts heading into May.

Discounts on passenger cars in China continued to expand in April, but the industry saw some positive changes heading into May, with price competition, especially for fuel vehicles, expected to ease, said CITIC Securities analyst Zhang Ruohai's team in a research note today.

These changes include the fact that some automakers are no longer offering increased discounts to dealers, and have even scaled back compared to the first quarter, according to the team.

With China allowing some fuel models based on existing emission standards to extend their sales period by six months until the end of this year, there is much less urgency for these models to clear inventory in the short term, the team noted.

In addition, inventory levels in the Chinese auto industry fell in April, with dealer inventory levels returning to a relatively balanced position, the team said.

From January to April, discounts offered by the Chinese auto industry were generally increasing, with actual selling price to manufacturer guide price ratios of 91.3 percent, 92.4 percent, 90.8 percent and 90.2 percent, respectively, according to an indicator compiled by the team.

This means that in addition to the price pickup in February, discounts expanded in March and April, the team said, adding that the indicator was 88.1 percent and 87.3 percent for fuel cars and 96.84 percent and 96.78 percent for new energy vehicles (NEVs) in the past two months, respectively.

Against the backdrop of overall weak consumer demand for cars, the price wars had a boost to sales of some models, but depressed total sales as consumer wait-and-see sentiment increased, according to the team.

In March, when the price war was at its most intense, Chinese passenger car retail sales were 1.587 million units, up 0.3 percent year-on-year and up 14.3 percent from February, according to the China Passenger Car Association (CPCA).

In April, China's passenger car retail sales were 1.63 million units, up 55.5 percent year-on-year and up 2.5 percent from March.

From May 1 to 14, China's passenger car retail sales were 706,000 units, up 55 percent year-on-year and up 24 percent from the same period last month, according to data released yesterday by the CPCA.

China NEV retail up 101% YoY in May 1-14, CPCA data show

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