The launch of the coolest Chinese EV is coming.
The post GM-SAIC-Wuling made Baojun Yep spotted on a truck in China, price to start at $8,700 according to sources appeared first on CarNewsChina.com.
Category: China
Some Chinese lithium producers stop production to stem continued price decline
Half of the four major lithium producers in Yichun, Jiangxi province, nicknamed the "lithium capital of Asia," have opted to shut down production, according to local media.
Some producers in a Chinese lithium-producing hub are shutting down production as lithium prices have seen a rare streak of several months of declines this year.
With lithium carbonate prices falling by about RMB 10,000 ($1,450) per ton per day in recent days, half of the four major lithium producers in Yichun, Jiangxi province in eastern China, have opted to shut down production, local media The Paper said today, citing a source from a major producer.
Yichun, nicknamed the "lithium capital of Asia," is one of the world's largest sources of lithium. Notably, the city's lithium production was disrupted in late February by regulators investigating noncompliance.
However, these disruptions did not stop lithium carbonate prices from falling, even though many expected so.
Lithium producers in Yichun, who were forced to shut down production some time ago because of government environmental actions, are now voluntarily choosing to do so in the face of the current market, The Paper cited the source as saying.
There are four main companies with mature production lines and lithium mica mines in Yichun, namely Yongxing New Energy, Jiangxi Special Electric Motor, Feiyu New Energy and Nanshi Lithium, which have a total annual capacity of 105,000 tons, according to the report, which does not mention which two lithium producers have stopped production.
Zhicun Lithium, which was founded in 2021 and also has lithium capacity in Yichun, currently has nearly half of its lithium carbonate production line shut down, the report said, citing a person familiar with the matter.
In 2021, Yichun produced 81,000 tons of lithium carbonate, more than a quarter of China's total lithium carbonate production.
As of July 2022, Yichun's lithium carbonate capacity of 180,000 tons represents 40 percent of China's entire lithium carbonate capacity of 450,000 tons, the report noted.
The RMB 250,000 per ton price of lithium carbonate is seen as break-even point for much of Yichun's production of lithium extracted from mica, according to the report.
At one point in late November last year, battery-grade lithium carbonate was quoted at RMB 590,000 per ton in China, about 14 times the average price of RMB 41,000 per ton in June 2020.
Since then, lithium carbonate prices have continued their downward spiral, and have not seen a single day of gains this year.
Yesterday, battery-grade lithium carbonate prices in China fell RMB 8,500 per ton to an average price of RMB 224,000 per ton, according to Mysteel.
Industrial-grade lithium carbonate fell RMB 6,000 per ton yesterday to an average price of RMB 189,000 per ton.
Today is Tomb Sweeping Day in China and lithium carbonate quotes are not available.
On February 26, Yicai reported that lithium ore processing companies in Yichun have shut down production industry-wide to rectify mining violations.
Yichun produces between 10,000 and 12,000 tons of lithium carbonate each month, and a one-month shutdown would affect about 10 percent of global supply, the report said, citing a lithium battery industry analyst who declined to be named.
That was seen at the time as something that would stop the price of lithium carbonate -- then at about 400,000 yuan per ton -- from falling, but that expectation did not materialize.
The intensity of lithium carbonate's decline did decrease in early March, with daily declines of less than 1 percent from March 3 to March 8, according to data monitored by CnEVPost.
After that, lithium carbonate continued to fall sharply, with the price of battery-grade lithium carbonate and industrial-grade lithium carbonate falling 5.10 percent and 4.88 percent, respectively, on April 3, both the largest single-day declines of the year.
In 2022, the supply and demand for lithium carbonate and lithium hydroxide were actually in balance, and there was a lot of hype behind the price surges, said Wang Yu, chairman of battery maker Farasis Energy, in an interview during the China EV 100 Forum held on April 2.
Based on this situation this year, lithium carbonate prices are expected to fall rapidly, Wang said.
Lithium carbonate prices have already fallen to RMB 250,000 per ton and are expected to fall further, with a drop to below RMB 100,000 very likely, he said.
($1 = RMB 6.8798)
The post Some Chinese lithium producers stop production to stem continued price decline appeared first on CnEVPost.
For more articles, please visit CnEVPost.
Dongfeng Mengshi M-Hero 917 EV production started. 1000 HP and 505 km range under the hood.
Another day, another hard-core electric SUV over $100,000 in China.
The post Dongfeng Mengshi M-Hero 917 EV production started. 1000 HP and 505 km range under the hood. appeared first on CarNewsChina.com.
BYD became the best-selling EV brand in Thailand in Q3 2023
BYD sold 5,579 EVs in Q1 2023, accounting for 37.8% of the market share, ranking first in Thailand for three consecutive months.
The post BYD became the best-selling EV brand in Thailand in Q3 2023 appeared first on CarNewsChina.com.
IM L5 EV from SAIC and Alibaba spotted in China during road tests
The IM L5 electric liftback was spied in China. This vehicle should increase the brand's sales volume. But is it good enough?
The post IM L5 EV from SAIC and Alibaba spotted in China during road tests appeared first on CarNewsChina.com.
2023 BYD e2 electric hatchback with an 8-in-1 electric powertrain will launch on April 6
The e2 was mainly aimed at the ride-hailing market, but now BYD is rebranding it as a family car.
The post 2023 BYD e2 electric hatchback with an 8-in-1 electric powertrain will launch on April 6 appeared first on CarNewsChina.com.
Tesla sold 88,869 China-made cars in March, 80% sold domestically
It's up 35% YoY and historically the second best result for Shanghai plant. Every second car delivered by Tesla was China-made
The post Tesla sold 88,869 China-made cars in March, 80% sold domestically appeared first on CarNewsChina.com.
Mercedes-Geely JV’s Smart #1 EV delivered 12,697 units in Q1 2023 in China
The Smart #1 model has delivered 21,909 units in China since its launch in September 2022. The price is 26,000 - 40,500 USD.
The post Mercedes-Geely JV’s Smart #1 EV delivered 12,697 units in Q1 2023 in China appeared first on CarNewsChina.com.
China NEV insurance registrations for week ending April 2: BYD 46,218, Tesla 14,275, NIO 2,730
In the past five weeks, NIO vehicles had 11,929 insurance registrations. The company delivered 10,378 vehicles in March.
China's new energy vehicle (NEV) sector saw continued improvement last week, with most major players posting sales increases.
In the week ending April 2, insurance registrations for all vehicles in China were 465,500, up 46.9 percent year-on-year and up 19.9 percent from the previous week, according to data shared today by several auto bloggers.
Of these, 139,500 were NEVs, up 44.7 percent year-on-year and up 9.28 percent from the previous week, with a penetration rate of 29.96 percent.
Gasoline vehicles were 326,000 units, up 47.9 percent year-on-year and up 25.1 percent from the previous week.
BYD vehicles continued to register the highest number of insurance units last week at 46,218, up from 43,490 the previous week.
In the past five weeks -- February 27 to April 2 -- BYD NEVs had 204,195 insurance registrations in China.
As a comparison, BYD sold 207,080 wholesale NEVs in March, including 13,312 units sold overseas, according to data it released on April 2.
Insurance registrations for Tesla vehicles in China last week were 14,275, slightly lower than the previous week's 15,886.
In the past five weeks, Tesla vehicles had 79,171 insurance registrations in China.
Tesla sold 88,869 China-made vehicles in March, including exports, according to data released earlier today by the China Passenger Car Association (CPCA).
Those numbers mean that Tesla's Shanghai plant may have exported only a few thousand vehicles in March, with the rest for deliveries to Chinese consumers.
Tesla's pattern is to produce cars for export in the first half of the quarter and for the local market in the second half.
Insurance registrations for NIO vehicles were 2,730 last week, up from 1,909 the previous week.
In the past five weeks, NIO vehicles had 11,929 insurance registrations.
NIO delivered 10,378 vehicles in March, including 3,203 SUVs, and 7,175 sedans, according to data released by the company on April 1.
Li Auto (NASDAQ: LI) vehicles had 6,185 insurance registrations last week, up from 5,081 in the previous week.
In the past five weeks, Li Auto vehicles saw 24,169 insurance registrations. For comparison, it delivered 20,823 vehicles in March.
XPeng (NYSE: XPEV) vehicles had 2,034 insurance registrations last week, up from 1,564 the previous week.
XPeng's total for the past five weeks was 7,950, and the company delivered 7,002 vehicles in March.
Zeekr vehicles had 2,571 insurance registrations last week and a cumulative total of 7,555 over the past five weeks. It delivered 6,663 vehicles in March.
Neta had a figure of 3,740 vehicles in the last week and a total of 12,286 vehicles in the last five weeks. It delivered 10,087 vehicles in March.
BMW had 2,598 NEV insurance registrations last week, for a total of 9,959 over the past five weeks.
China's Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show
The post China NEV insurance registrations for week ending April 2: BYD 46,218, Tesla 14,275, NIO 2,730 appeared first on CnEVPost.
For more articles, please visit CnEVPost.
China’s Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show
In the first quarter, wholesale sales of new energy passenger vehicles in China are expected to be 1.48 million, up 25 percent year-on-year, the CPCA said.
China's March wholesale sales of new energy passenger vehicles (passenger NEVs) are expected to be 600,000 units, up 20 percent from February and up 30 percent year-on-year, the China Passenger Car Association (CPCA) said in a report today.
In February, the 10 manufacturers that sold more than 10,000 NEVs at wholesale contributed 83 percent of all wholesale sales, the CPCA said.
These companies are expected to sell 477,000 units in March, and the normal structure would put China's March wholesale sales of passenger NEVs above 570,000 units, the CPCA said.
Considering that some small and medium-sized companies' NEV sales improved significantly from February, the passenger car market in March could be optimistic, the CPCA said.
In the first quarter, wholesale sales of passenger NEVs in China are expected to be 1.48 million, up 25 percent year-on-year, the CPCA said.
China's passenger NEV sales fell sharply in January, as subsidies for the purchase of NEVs were withdrawn, as well as under the influence of the Chinese New Year holiday. The market gradually rebounded in February.
In March, China's passenger NEV market maintained a rebound despite disruptions from gasoline vehicle promotions, the CPCA said.
With recent lithium carbonate price reductions evident, some manufacturers actively allowed production and sales to slow down in the first quarter to reduce costs, the CPCA noted.
At one point in late November last year, battery-grade lithium carbonate was quoted at RMB 590,000 ($85,790) per ton in China, about 14 times the average RMB 41,000 per ton price in June 2020.
Since then, lithium carbonate offers have continued to move downward, without seeing a single day of gains this year.
Battery-grade lithium carbonate prices in China today fell RMB 8,500 per ton, or 3.66 percent, to RMB 224,000 per ton, according to Mysteel data monitored by CnEVPost.
Industrial-grade lithium carbonate fell RMB 6,000 per ton, or 3.08 percent, to RMB 189,000 per ton today.
($1 = RMB 6.8774)
Tesla sells 88,869 China-made vehicles in Mar, CPCA data show
The post China's Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
