Increasingly negative sentiments about the country may hamper the sales results of China's car manufacturers in Europe.
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Category: China
Xpeng sold 120,757 EVs and lost 1.3 billion USD in 2022, according to the annual report
In 2022, Xpeng lost an average of 10,900 USD per vehicle sold. They announced a significant deliveries drop in Q1 2023.
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“China’s first EV supercar” – Aion Hyper SSR – spotted on production line
This carbon-fibre, butterfly-door electric supercar can reach 100km/h in 1.9 seconds.
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Gotion reaches deal with Edison Power to tap Japan’s energy storage market
Gotion and Edison Power have a planned sales target of 1 GWh in the first year of the partnership, rising to 2 GWh per year from the second year onwards.
(Image credit: Gotion High-tech)
Chinese battery giant Gotion High-tech and Japan's Edison Power Co Ltd have reached a strategic cooperation agreement to jointly tap the energy storage market in Japan.
The two signed the agreement on March 15 to jointly develop the Japanese energy storage and battery recycling market and promote Gotion's products in the Japanese market, according to a press release from the Chinese battery maker today.
Gotion and Edison Power have a planned sales target of 1 GWh in the first year of the partnership, rising to 2 GWh per year from the second year onward.
Gotion will provide battery cells, modules and BMS, while Edison Power will be responsible for Japanese energy storage customer management, EPC services, and energy storage system operation and maintenance.
In addition, Gotion will also work with Edison Power to establish a recycling system for recycled energy storage batteries in Japan, according to the release.
With the development of global renewable energy and the revision of Japan's Electricity Business Act in May 2022, new opportunities will arise for the development of Japan's large-scale energy storage battery industry, according to the release.
Edison Power, which began developing and manufacturing energy storage battery systems in 1991, is also developing a solar power business and a biomass power business.
Gotion, one of China's power battery giants, ranked eighth in the world with a 2.1 percent share in January, according to a report released earlier this month by South Korean market research firm SNE Research.
In China, Gotion installed 0.78 GWh of power batteries in February, ranking fourth with a 3.58 percent share, according to data previously released by the China Automotive Battery Innovation Alliance (CABIA).
The energy storage battery business is Gotion's second-largest business after power batteries.
In the first half of 2022, Gotion's revenue was RMB 8.6 billion, of which the power battery business contributed RMB 6.6 billion, or 76.51 percent, according to the company's semi-annual report.
Gotion's energy storage battery business generated RMB 1.28 billion in revenue in the first half of last year, contributing 14.8 percent.
Gotion to build $2.36 billion battery materials plant in Michigan
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Lithium prices see biggest drop this year in China as decline accelerates
NIO's management previously said they expect lithium carbonate prices to fall back to RMB 200,000 per ton this year, boosting gross margins.
The price of lithium, a key raw material for batteries, is accelerating its decline.
The price of battery-grade lithium carbonate in China today was down RMB 12,500 per ton ($1,814 per ton) from last Friday, with the latest average price quoted at RMB 312,500 per ton, according to My Steel.
That latest average price is down 3.85 percent from Friday, the biggest drop of the year, data monitored by CnEVPost show.
On Friday, the average price of battery-grade lithium carbonate in China fell RMB 8,000, or 2.4 percent, the previous biggest drop of the year.
Industrial-grade lithium carbonate also fell by RMB 12,500 per ton today, with the average price quoted at RMB 272,500 per ton. Its 4.39 percent drop was also the highest of the year.
The average price of industrial-grade lithium carbonate fell RMB 7,000 per ton to RMB 295,000 per ton on March 16, the first time it has fallen below RMB 300,000 per ton in this down cycle.
The average price of battery-grade lithium carbonate is now barely above RMB 300,000 and is at risk of falling below that mark in the next day or two.
In the two years prior to last November, lithium carbonate prices were soaring alongside the rapid growth of China's new energy vehicle (NEV) industry.
On November 23, 2022, the battery-grade lithium carbonate price rose to RMB 590,000 per ton in China, up about 14 times from RMB 41,000 per ton in June 2020.
Since then, however, lithium prices have continued to fall, with industrial-grade lithium carbonate prices falling below RMB 400,000 on February 22 and battery-grade lithium carbonate prices falling below that mark on February 28.
In late February, a local media report that lithium supplies could be disrupted by the production halt in a mining hub in China did not stop lithium carbonate prices from continuing to fall.
As of today, lithium carbonate prices are down about 47 percent from last November's highs and are down about 40 percent so far this year.
The drop in lithium carbonate prices is expected to ease the cost pressures faced by electric vehicle manufacturers.
NIO had previously mentioned that a drop in lithium carbonate price of RMB 100,000 per ton would increase its gross margin by 2 percentage points.
NIO's management said in a conference call with analysts after the March 1 earnings announcement that they expect lithium carbonate prices to fall to RMB 200,000 per ton this year, boosting gross margins.
($1 = RMB 6.8896)
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BeyonCa brand from VW ex-vice president to sell 100,000 cars in 3-5 years
BeyonCa from Volkswagen ex-vice president aims to sell 100,000 vehicles in the next 3-5 years. How will they manage it?
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NIO’s 1st 3rd-gen swap stations to go live on Mar 28
NIO's third-generation battery swap stations are expected to be ready for volume production in April, with deployment ramping up in May, William Li said a month ago. | NIO US | NIO HK | NIO SG
(Image credit: NIO)
NIO (NYSE: NIO) will officially bring its first third-generation battery swap stations online at the end of this month, a timeline that appears to be slightly earlier than it previously announced.
On March 28, NIO's first 10 third-generation battery swap stations will go live, the company said in an article posted today on its mobile app.
The article does not provide more information on the third-generation stations, but said that 10 special guests will be on-site to see the battery swap stations on their wish list delivered.
NIO officially unveiled the third-generation battery swap station at NIO Day 2022 on December 24, 2022, capable of storing up to 21 battery packs, up from 13 in its predecessor generation and five in the first generation of the facility.
The third-generation battery swap station increases the daily service capacity of a single station to 408 times, a 30 percent increase over the second generation.
Notably, NIO also equipped two LiDARs and two Nvidia Orin chips on the third-generation battery swap station, for a total computing power of 508 TOPS.
The company then announced plans to add 400 battery swap stations in 2023, but that plan was raised to 1,000 a month ago.
William Li, founder, chairman and CEO of NIO, said on February 21 that NIO will further accelerate the deployment of battery swap stations, aiming to have a cumulative total of more than 2,300 battery swap stations by the end of 2023.
Mass production of NIO's third-generation battery swap stations was well underway, with volume production expected to begin in April and deployment accelerating in May, Li said at the time.
Starting in June, NIO will basically maintain a construction rate of 120-150 battery swap stations per month, he said.
On February 28, the NIO App added a wish list feature that allows vehicle owners to provide suggestions for where they would like battery swap stations to be located to support faster buildout.
To date, NIO has received 132,238 wish lists for battery swap stations, according to the article in the NIO App today.
Of those, 68.3 percent want the planned new battery swap stations this year to be located in urban areas, and 31.27 percent want the facilities to be located along highways.
Beijing was the most mentioned city on these wish lists, followed by Shanghai and Suzhou.
There were 240 potential sites covering more than 50 users and 12 sites covering more than 200 users, NIO said.
After receiving the owners' wish lists, NIO held 221 events in 134 cities, meeting with 6,459 users face-to-face, according to the article in the NIO App.
NIO has not added any battery swap stations in the past half month. As of March 5, the company had 1,321 such facilities in China, according to data monitored by CnEVPost.
NIO reveals aggressive plan to add 1,000 swap stations in 2023
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BYD makes brand debut in Uzbekistan, starts local pre-sales of 3 models
BYD introduced three models in Uzbekistan and its three pioneering stores in Tashkent will open in March. | BYDDY.US | BYD HK
(Image credit: BYD)
BYD (OTCMKTS: BYDDY) made its brand debut in Uzbekistan and introduced three models to local consumers, as the largest Chinese manufacturer of new energy vehicles (NEVs) continues to advance its efforts in the international market.
BYD held a brand debut and product pre-sale event in Uzbekistan on March 16, and several of its local dealership stores are set to open this month, according to a press release Friday.
BYD introduced three models at the event, including the Han EV, an all-electric sedan; the Song Plus DM-i, a hybrid model; and the hybrid Chazor DM-i, known as the Destroyer 05 in China.
Uzbekistan, the largest automotive market in Central Asia, is transitioning toward vehicle electrification, and BYD will bring industry-leading blade battery and DM-i super hybrid technology to local consumers, the release said.
Three pioneering BYD stores in Uzbekistan's capital Tashkent will open in March: a BYD flagship store and technology museum, a comprehensive BYD brand experience center and a BYD city showroom.
It is worth noting that BYD has already made some previous moves to pave the way for its long-term growth in Uzbekistan.
In February 2022, BYD and Uzavtosanoat JSC (UzAuto) signed a mutual memorandum of understanding, agreeing to study the feasibility of joint production of electric passenger cars and electric buses in the Central Asian country.
UzAuto, established in 1994, is the largest and only car manufacturer in Central Asia with a complete automotive industry footprint and an extensive local and inter-regional sales network and after-sales service system.
On December 30, 2022, BYD announced that it had signed an agreement with UzAuto to establish a joint venture that will focus on the production of NEVs and their components.
The joint venture will be based in Uzbekistan and will focus on the future production of several of BYD's best-selling NEV models, including the DM-i Super Hybrid, and related components, according to a BYD press release at the time.
BYD, the world's largest maker of NEVs, sold 193,655 vehicles in February, up 27.96 percent from 151,341 units in January and up 119.36 percent from 88,283 units in the same month last year, according to figures it announced earlier this month.
In February, BYD sold 15,002 NEVs in overseas markets, up 44.13 percent from 10,409 units in January.
In addition to announcing its business progress in Uzbekistan, BYD also announced on Friday that it entered into a partnership with UAE dealer Al-Futtaim on March 15.
NIO's global expansion: Demands of under-the-radar owners underscore urgency
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Taking the HiPhi Z for a spin: China’s electrifying GT sets its sights on the Porsche Taycan
Discover the HiPhi Z, China's eye-catching electric GT! Unleash the future of driving today.
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2022 Chinese auto brand quality ranking, Chery Jetour and SGMW Baojun are among the worst
Can you guess the best quality brand?
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