BYD Han DM-i and DM-p launched in China with a lowered price and some new tech on board.
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Category: China
Geely Holding becomes 3rd largest shareholder of Aston Martin, increases stake to 17%
In September 2022, Geely Holding spent about £66 million to acquire a 7.60 percent stake in Aston Martin.
(Image credit: Aston Martin)
Zhejiang Geely Holding Group (Geely Holding), China's largest private automaker, has increased its stake in Aston Martin, becoming the third largest shareholder in the ultra-luxury car brand.
Geely Holding has committed to contribute about £234 million to acquire about 42 million existing ordinary shares in Aston Martin from Yew Tree Consortium at a price of 335 pence per share and to subscribe for about 28 million new shares at the same price, according to an announcement made by the ultra-luxury British performance brand on the London Stock Exchange today.
The transaction price represents a 45 percent premium to Aston Martin's closing price per ordinary share on May 17.
Upon completion of the transaction, Geely Holding's stake in Aston Martin will increase to about 17 percent, making it the third largest shareholder behind Yew Tree Consortium's 21 percent and Saudi Arabia's Public Investment Fund's 18 percent.
Geely Holding has agreed to cease acquiring any ordinary shares that would result in its total holding in Aston Martin exceeding 22 percent by August 1, 2024, according to the announcement.
"Geely Holding, who initially became a shareholder last year, sees tremendous potential for Aston Martin's long-term growth and success. They offer us a deep understanding of the key strategic growth market that China represents, as well as the opportunity to access their range of technologies and components," said Lawrence Stroll, Aston Martin's executive chairman of the board.
In September 2022, Geely Holding spent about £66 million to acquire a 7.60 percent stake in Aston Martin.
Geely has completed a number of acquisitions of foreign automakers in recent years.
In 2006, Geely acquired a 19.97 percent stake in Manganese Bronze, the maker and owner of classic black cabs in London, and in 2013, Geely acquired the business and core assets of the company.
In 2010, Geely acquired Volvo, and in 2017, Geely acquired a 51 percent stake in Lotus Cars, a British luxury sports and racing car brand.
"Our decision to increase our shareholding in Aston Martin reflects our confidence in the company's growth prospects, its technologies and its management team," said Eric Li, Geely Holding Group chairman, according to Aston Martin's announcement.
Aston Martin sold 6,412 vehicles globally in 2022, up about 4 percent from a year earlier, with about 50 percent of those being the four-door crossover DBX line.
It currently has four models on sale in China, including the coupe Vantage, DB11 and DBS, as well as the DBX.
Chinese auto giants Geely and Changan sign strategic cooperation deal
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Geely increased its stake in Aston Martin to 17%, becoming the third-largest shareholder
This increase cost about 290 million USD. After the increase, Geely's stake in Aston Martin more than doubled.
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BYD launches facelifts of Han sedan’s hybrid variants with lower prices
This is BYD's latest move to further expand its market share by launching revamped models to make prices lower, following the launch of the 2023 Han EV, as well as the 2023 Seal. | BYDDY.US | BYD HK
(Image credit: BYD)
BYD (OTCMKTS: BYDDY) has released revamped models of the plug-in hybrid version of its flagship Han sedan to make it more affordable, similar to what it has done so far this year to expand its market share.
The new energy vehicle (NEV) giant today officially made the 2023 Han DM-i Champion and 2023 Han DM-p Warrior editions available in China, starting at lower prices while allowing for upgraded specifications.
The 2023 Han DM-i is available in six versions with starting prices of RMB 189,800 ($27,000), RMB 199,800, RMB 209,800, RMB 219,800, RMB 239,800 and RMB 249,800 respectively.
The previously available Han DM-i has 4 versions with starting prices of RMB 217,800, 227,800, 237,800 and 291,800 respectively.
This means that the starting price of the 2023 Han DM-i is reduced by RMB 28,000.
BYD's 2023 Han DM-p is only available in one version with a starting price of RMB 289,800.
The 2022 Han DM-p is also available in one version at a starting price of RMB 321,800. The price for the 2023 model was reduced by RMB 32,000.
Several BYD models are available in both pure electric and plug-in hybrid versions, with the latter sometimes 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.
The BYD Han has a length, width and height of 4,975 mm, 1,910 mm and 1,495 mm, respectively, and a wheelbase of 2,920 mm.
The entry version of the 2023 Han DM-i can accelerate from 0 to 100 km/h in 7.9 seconds and the 2023 Han DM-p in 3.7 seconds.
The 2023 Han DM-i has two options for pure electric range, with an NEDC range of 121 km and 200 km. The model has a combined range of 1,260 km on full fuel and full charge.
The Han DM-p has an NEDC range of 200 km and a combined range of 1,120 km on a full fuel and charge.
Chinese NEV companies have generally faced weaker consumer demand so far this year, with the withdrawal of state purchase subsidies at the end of last year.
Many NEV makers have chosen to stimulate sales by cutting prices, and BYD has previously offered discounts for some of its models.
Unlike other peers, BYD's larger model matrix and vertical integration of its supply chain has allowed it to get prices lower by quickly rolling out facelifts.
On May 10, BYD made a revamped version of its all-electric Seal sedan available for sale, starting at RMB 23,000 less than the previously available model.
BYD sold 210,295 NEVs in April, up 98.31 percent from 106,042 units a year earlier and up 1.55 percent from 207,080 units in March, figures released by the company earlier this month showed.
The BYD Han family sold 14,329 units in April, up 6.77 percent year-on-year and 5.75 percent from March.
BYD Seal sold 6,212 units in April, up 3.53 percent from 6,000 units in March.
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.
($1 = RMB 7.0342)
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VW denies talks with Huawei on auto software licensing in China
There have been no discussions between Volkswagen China and other companies about operating system licensing, local media quoted the German carmaker as saying.
(Image credit: CnEVPost)
Volkswagen China denied it was in talks to use Huawei software in its cars in China, after a report yesterday sparked widespread discussion.
There have been no discussions between Volkswagen China and other companies about operating system licensing, local media Economic View cited the German automaker as saying today.
To provide the greatest possible convenience to customers, Volkswagen is continuing to push further into the development of existing software, the automaker said.
The Financial Times said in a report yesterday that Volkswagen has been in talks to use Huawei software in its cars in China, hoping to boost its efforts to gain a bigger share of the country's electric vehicle market.
Three people familiar with the situation said Volkswagen has talked with Huawei about using the latter's technology in its cars, while another person said the German carmaker has held similar talks with other Chinese groups, according to the Financial Times report.
Volkswagen's software is seen as lagging behind some local players in China, but it is one of the most aggressive of foreign car companies seeking change.
In late 2021, there were rumors that Huawei and Volkswagen Group were planning to form a joint venture to develop self-driving technology. But this was never confirmed.
Last October 13, Horizon Robotics, one of the leading providers of computing solutions for smart vehicles in China, announced that Cariad, Volkswagen's software subsidiary, would form a joint venture with it to accelerate efforts to develop smart driving technology locally.
Volkswagen plans to invest about 2.4 billion euros for a 60 percent stake in the joint venture, which is expected to close in the first half of 2023, according to a statement from Horizon Robotics.
Last October 24, local media outlet 36kr reported that Su Jing, a former Huawei executive and self-driving industry veteran, would join the joint venture, possibly as head of one of the technologies.
VW reportedly in talks to use Huawei software in its cars in China
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Battery-grade lithium carbonate price roars back to RMB 300,000 per ton after 14 days of consecutive gains
The price of battery-grade lithium carbonate has risen 66.67 percent in China and 111.11 percent for industrial-grade lithium carbonate since the rally began late last month.
Lithium carbonate -- a key raw material for electric vehicle batteries -- has seen prices rise for half a month in China.
The price of battery-grade lithium carbonate reached RMB 300,000 ($42,740) per ton in China today, up RMB 15,000 per ton, or 5.26 percent, from yesterday, the 14th consecutive day of gains, according to Mysteel.
Industrial grade lithium carbonate price today reached RMB 285,000 per ton, up RMB 15,000 per ton, or 5.56 percent, from yesterday, the 17th consecutive day of increases.
This is a rebound in lithium carbonate prices after seeing months of declines, with the Chinese new energy vehicle (NEV) industry suddenly falling into weak growth early in the year.
The price of battery-grade lithium carbonate rose to RMB 590,000 per ton in China on November 23, 2022, up about 14 times from RMB 41,000 per ton in June 2020.
However, factors including weak demand for electric vehicles have caused lithium carbonate prices to decline all the way after heading into 2023.
Prior to April 21, lithium carbonate prices had not seen a single day of gains in China this year, falling about 65 percent since the beginning of the year.
Since the rebound began at the end of last month, battery-grade lithium carbonate prices have risen 66.67 percent in China, and industrial-grade lithium carbonate has risen 111.11 percent.
The rebound in lithium carbonate prices is mainly due to tight supplies, while there has still not been a more significant recovery in demand for NEVs downstream, local media Yicai cited an unnamed industry source as saying in a May 15 report.
China's new energy passenger car retail sales in April were 527,000 units, up 85.6 percent year-on-year but 3.6 percent lower than in March, according to data released by the China Passenger Car Association (CPCA) on May 9.
In some analysts' view, despite the rebound in lithium prices this month, there is still downward pressure in the long run.
Overseas customers will not purchase lithium at prices significantly higher than the Chinese market in the long term, and profit levels for lithium smelters will eventually return to a reasonable range, CICC analyst Feng Tingshuai 's team said in a May 16 research note.
If the rebound in Chinese lithium prices is not strong enough to fully reverse the situation, lithium prices will likely continue to face some downward pressure, the team said.
The accelerating downward trend in lithium carbonate prices is difficult to sustain, and lithium prices are expected to gradually stabilize and possibly even rebound, CICC analyst Zhang Jiaming's team said in an April 20 research note.
However, the team believes the downward trend in lithium prices may not end soon, as the global lithium supply is still in surplus.
($1 = RMB 7.0191)
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NIO offers interior upgrades for 2022 ET7, brings new wireless phone charging panel
The upgrade will be available starting May 31 and will cost owners RMB 1,980. | NIO US | NIO HK | NIO SG
( 2022 NIO ET7 interior. Image credit: CnEVPost)
NIO (NYSE: NIO) launched the 2023 ET7 sedan a month ago, bringing more than 15 upgrades. Now the company is offering an upgrade program for the 2022 ET7 as well.
NIO today announced the rollout of a center module upgrade for the 2022 ET7, bringing improvements including a 40W air-cooled, wireless charging panel and upgraded center buttons.
(Image credit: NIO)
The upgrade will be available on May 31 at 10:00 am Beijing Time and will cost owners RMB 1,980 ($282). NIO will allow owners to pay up to RMB 1,000 with their NIO App credits.
Owners of the 2022 ET7 can reserve the upgrade by paying RMB 1,000 as a deposit on the NIO App after 10 am on May 31.
NIO will initially offer only 500 upgrade slots, and the time required to complete the upgrade is one day.
The installation will start in early June and will not affect any other rights of users.
The ET7, NIO's flagship sedan, was originally launched at the NIO Day 2020 event on January 9, 2021, with deliveries beginning on March 28, 2022.
On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7, bringing more than 15 upgrades, including improved seats and a 40w wireless charging panel for cell phones. The model's starting price remains unchanged at RMB 458,000.
With a more comfortable ride, more refined interior and a smarter experience, the improved ET7 continues to lead the direction of change for high-end smart electric mid to large-size sedans, William Li, founder, chairman and CEO of NIO, said at the time.
($1 = RMB7.0139)
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Hongqi E001 EV sedan with swappable battery and 800-km range spied in China
The Hongqi E001 has 619 hp, 800 km of range and a swappable battery. It will launch in China in November and later, it will enter Europe.
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Voyah offers huge benefits for free for flagship sedan before delivery begins
Customers of the Voyah Zhuiguang sedan can now receive substantial benefits for free that previously cost RMB 72,000.
(Image credit: CnEVPost)
Voyah, Dongfeng Motor's new energy vehicle (NEV) subsidiary, launched its first electric sedan a month ago. Now it's starting to offer huge benefits for free before deliveries of the model have even begun, underscoring the fierce competition in the space.
In a post on its WeChat account today, Voyah announced that for customers who order its flagship sedan, the Zhuiguang, multiple options that previously required a fee to get are now available for free.
The options are worth a combined total of RMB 72,000 ($10,300) and include seat massage, air suspension, Dynaudio 14 speakers, steering wheel heating, and the so-called L2.9 assisted driving software package.
The package is effective from May 18 and is also available to customers who have already reserved the model.
Voyah said the free benefits are limited in time, but no expiration date was mentioned.
In addition to making those benefits free, Voyah has streamlined the Zhuiguang sedan lineup, reducing the number of available versions to two from the previous three.
Voyah made the Zhuiguang officially available on the first day of the Shanghai auto show on April 18, when it was offered in three versions starting at RMB 322,900, RMB 352,900 and RMB 432,900, respectively.
In today's announcement, Voyah retained the standard version with a starting price of RMB 322,900 and dropped the other two versions and instead launched a long-range version with a starting price of RMB 385,900.
Voyah previously referred to the two higher-priced versions of the Zhuiguang as the flagship and long range flagship editions, respectively.
(Image credit: CnEVPost)
Voyah is a brand announced by Dongfeng Motor in late 2020, with the first model, the Voyah FREE, launched in China in June 2021, offering a version with extended-range technology as well as an all-electric version.
On May 7, 2022, Voyah's second model, the Dreamer MPV, went on sale, with deliveries starting on July 16.
The Voyah Zhuiguang is 5,088 mm long, 1,970 mm wide and has a wheelbase of 3,000 mm. Its height includes two specifications of 1,515 mm and 1,505 mm.
The model comes standard with a dual-motor four-wheel drive system with a maximum power of 160 kW for the front motor and 215 kW for the rear motor.
Its powertrain has a total power of 375 kW and a maximum torque of 730 Nm, enabling the vehicle to accelerate from 0 to 100 km/h in 3.8 seconds.
The delivery date for the model has not yet been confirmed.
As Dongfeng Motor's flagship brand into the NEV market, Voyah has had a weak performance over the past year.
It delivered 3,339 vehicles in April and a total of 9,021 so far this year.
Yu Fei, Voyah's general manager of sales, has left, and people in the marketing business have seen many other changes, marking the collapse of the company's second-generation marketing management structure, which was put in place last July, local media outlet Yicai said in a May 13 report.
($1 = 6.9986 yuan)
Voyah's first electric sedan launched with starting price of $46,980
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Zeekr 009 review: Is Toyota losing its crown jewel?
With Toyota's reluctance to embrace the EV revolution, Chinese premium EV brands, like Zeekr, are eyeing the luxury MPV space as a chance to charge big money.
This review is done by ChinaDriven, which creates content about Chinese EVs on YouTubeTwitter.
Zeekr, Geely's premium EV brand, has introduced a luxurious MPV called the Zeekr 009. But why would a Chinese premium EV brand make an expensive people mover?
MPVs in the West have largely died out from their hay day in the 90s. Nowadays referred to as ”Soccer Mum Vans,” they don't have the swankiest of images. In China, there is a smattering of low-end MPVs for sale but most of the action in this segment happens at the top-end.
MPVs are mostly statement vehicles, a sign of wealth and success; they're chauffeur-driven rides of the wealthy. My experience living in China for the past decade, the absolute epitome was the imported Toyota Alphard.
With Toyota's reluctance to embrace the EV revolution, Chinese premium EV brands, like Zeekr, are eyeing the luxury MPV space as a chance to charge big money and show off their tech and quality nouse.
Exterior
The large grille, a mainstay of the luxury MPV space, is perhaps a necessary evil. Behind it 154 programmable dot-matrix LEDs dubbed “The Spring of Light.” Distinct square LED daylight running lights, a break from the EV norm of LED Light bars.
It's a big square front end, with deliberate and unapologetic styling. It's a brutal-looking thing. But there's something quite cool about that, especially in all-black.
The side profile is long, square, and functional. Darkened pillars give the roof the illusion of floating, with some choice of chrome accents down the side, including the door handles.
Thankfully the door handles are normal door handles; Unlike so many EVs that try to create new intricate ways of opening a door, confusing every passenger you have.
The whole rear is cleaved in half by its chrome belt line. A huge rear windscreen gives gobs of rearward visibility. Something you'll need in this 5.2-meter long MPV. The rear end carries over the styling cues from the Zeekr 001 with its fin design in its rear LED light bar. The rear-end styling isn't as abrasive as the front-end and offers a clean look.
Interior
The interior of the Zeekr 009 boasts premium materials that solidify its status as a top-notch vehicle. From the abundance of Nappa leather, micro suede, and metal touch points, to the borrowed styling cues from the Zeekr 001, such as the steering wheel and gear selector, this vehicle exudes class.
The ambient lighting, which primarily resides in the rear, is a deliberate styling choice rather than an ambitious soft under-glow.
All seats are comfortable, with multiple options for heat, ventilation, massage, and adjustment. However, it's the second row that truly shines. As a luxury MPV, the second-row seats are essential, and the Zeekr 009 delivers plenty of room and adjustment options.
In fact, the layout of the three rows is incredibly well thought out, with even the third row providing ample space while still allowing for a trunk space of 37 liters with the seats up and a cavernous 2979 liters with the third row down.
Entertainment in the rear is delivered through a roof-mounted 15.6 LCD screen controlled by a remote. While it may seem archaic, it makes sense given the amount of legroom in the second row.
The first and second-row seats also boast headrest speakers, bringing the total speaker count up to 20 for the super-powerful Yamaha system.
The second row is truly the place to be with its HDMI connection for screen mirroring, roof-mounted camera for conference calling, pull-out solid metal tables, and built-in 60W fast charging for each seat.
Overall, the Zeekr 009's interior is classy, comfortable, and functional, with a particular focus on the second row to deliver a luxury MPV experience
Battery, Range, Charging
The Zeekr 009 is available in two trims: the WE Edition and ME Edition.
WE Edition
- Priced around $72,500
- Equipped with a 116-kWh CATL NCM battery pack
- Claimed range of 702 km
ME Edition
- Priced around $82,500
- Equipped with a 140-kWH CATL Qilin battery pack
- Claimed range of 822 km
The Zeekr 009 is positioned as a premium vehicle, but its pricing is surprisingly reasonable compared to the Toyota Alphard in China, which commands a price of between $121,000-134,000.
One of the major selling points of the Zeekr 009 is that it is the world's first vehicle to be equipped with CATL's Qilin battery, which offers a 13% increase in power compared to a pack of the same size filled with Tesla's 4680 cells. CATL Qilin is an advancement in the cell to pack packaging rather than cell chemistry. But it offers impressive gains.
DC fast charging is of course available and quoted at 10-80% in 28mins.
Tech
Upfront the driver is greeted with a 10.2-inch digital instrument panel and a 15.4-inch central LCD touchscreen which together with the rear screen is powered by a Snapdragon 8155 CPU.
The central infotainment screen is snappy and well laid out. However, there is no English UI, but you can't blame Zeekr for that, especially when it's highly unlikely the 009 will be released in Europe.
There's a 5G connection, plenty of USB-C connections, and a wireless phone charger. All pretty standard tech on premium and even mid-level EVs in China nowadays. I do wish there was a HUD, but it's not a dealbreaker. A voice assistant is also included, but again in China, this is a somewhat standard affair.
In the second row, you'll find Zeekr's smart bar, a 3.4-inch circular LCD panel on the door that controls the third zone A/C, as well as capacitive touch buttons for the rear windows and panoramic roof shade.
ADAS
Zeekr's Advanced Driver Assistance System (ADAS) is powered by the Mobileye Supervision full-stack ADAS solution. While they have promised a more advanced ADAS suite called the Zeekr Autonomous Driving (ZAD) that can be added for a one-time fee, it is not yet available. The ZAD promises to provide exceptional ADAS capabilities for complex driving scenarios.
Currently, the Zeekr 009 comes standard with a level 2 ADAS system that includes Lane Keep Assist and Adaptive Cruise Control (ACC), as well as Zeekr's Highway Autopilot (ZNP).
The ADAS sensor array includes seven 8MP cameras, twelve ultrasonic radars, one milliwave radar, and four 2MP cameras for the 360-degree camera system.
The Mobileye Supervision solution is vision-based, which means that the Zeekr 009 does not have LiDAR. All the data collected by the sensors is processed by dual Mobileye EQ5H chips that deliver 48 TOPs.
Driving & Performance
For an MPV, the Zeekr 009 has a ridiculously powerful dual-motor drivetrain. Delivering 400kW (544hp) of power and 686Nm (506ft-lbs) of torque to the pavement; it smashes 0-100kph in 4.5s.
While it's unclear why an MPV needs this level of power, it certainly adds some fun to the driving. The Zeekr 009 can come to a stop from 100kph in 36.9m, which is impressive, but the sheer mass of the vehicle is felt during heavy braking.
Driving dynamics are nothing to write home about, as expected, but it delivers a comfortable ride thanks to its air suspension and CDC. While this sort of vehicle is not ideal for high-speed cornering, the tires do a commendable job, but no matter what physics cannot be overcome. This is very much a comfortable point-and-squirt kind of speed. Slow in, fast out.
Ultimately, the Zeekr 009 is designed to deliver comfort to the person in the back, most likely the "Big Boss." The rear seats are feature-packed, relaxing, and remarkably comfortable, making them perfect for long chauffeured journeys.
Conclusion
Would I buy a Zeekr 009? I'm not wealthy or important enough to warrant a luxury chauffeured ride, but if I were, I'd take the Zeekr 009 over the Toyota Alphard any day of the week.
However, the decision isn't as simple as that. In my city, the Alphard still reigns supreme as the go-to MPV that screams "I've made it." Even though the Zeekr 009 is a superior product with a lower price point, those with seemingly endless pools of money aren't price sensitive.
But in larger cities where getting a license plate for an internal combustion engine is expensive and difficult, the Zeekr 009 may be a popular seller.
In my city, I think I'd still be a maverick for choosing it over the Toyota Alphard. But I'd be right, they'd be wrong. And I'd have $40,000-50,000 in my back pocket, a better vehicle and a big smug smile on my face.
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