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Continue reading 2024 Rolls-Royce Spectre First Drive: Electric Rolls is still a Rolls
2024 Rolls-Royce Spectre First Drive: Electric Rolls is still a Rolls originally appeared on Autoblog on Wed, 5 Jul 2023 07:00:00 EDT. Please see our terms for use of feeds.
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VW boosts investment in EV charging network in China
Volkswagen China and FAW-Volkswagen plan to jointly invest about 800 million yuan in charging station operator CAMS to accelerate the deployment of charging network in China.
(Image credit: Volkswagen)
Volkswagen plans to invest more in a charging joint ventures in China to increase its bet on the world's largest electric vehicle (EV) market.
Volkswagen China and FAW-Volkswagen plan to jointly invest about 800 million yuan ($110 million) in charging station operator CAMS New Energy Technology (CAMS) to accelerate the layout of charging network in China, according to a July 3 press release.
The transaction, which will be completed after regulatory approvals are obtained, is intended to further accelerate the layout of the charging network in China and enhance the user experience, Volkswagen said.
CAMS was founded in May 2019 and is based in Changzhou, Jiangsu province. Volkswagen China holds a 30 percent stake in the company, China FAW holds 30 percent, and two other local companies hold 40 percent of the remaining shares.
By June 2023, CAMS had established 1,250 supercharging stations in China, offering 10,950 charging terminals covering more than 180 cities and serving more than 2 million registered users, according to the Volkswagen press release.
By 2025, CAMS plans to have 17,000 fast charging terminals in China with superchargers ranging from 120 kW to 180 kW and even 300 kW to 480 kW, it said.
In addition, Volkswagen China and CAMS have joined forces with a subsidiary of State Grid to launch a managed charging (V1G) pilot in the Beijing-Tianjin-Hebei region.
The pilot's intelligent remote-control technology can control charging power according to the requirements of grid load regulation, thus balancing power supply and demand and contributing to grid stability, according to Volkswagen.
The first phase of the pilot program will run from July 2023 to June 2024, with 2,400 EV customers initially planned to be recruited in the Beijing-Tianjin-Hebei region.
Volkswagen's weekly sales of new energy vehicles (NEVs) in China were 3,900 units in the week of June 26 to July 2, according to data shared yesterday by local auto media outlet Dongchedi.
($1 = RMB 7.2144)
China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900
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China Jun NEV retail up 10% MoM to 638,000, preliminary CPCA data show
This is below the CPCA's June 25 estimate of about 670,000 units.
Retail sales of passenger new energy vehicles (NEVs) in China were 638,000 units in June, up 19 percent year-on-year and up 10 percent from May, according to preliminary data released today by the CPCA.
On June 25, the CPCA estimated in a report that China's retail sales of passenger NEVs in June would be around 670,000 units. The latest preliminary figures have been revised downward from the previous estimate.
From January to June, retail sales of passenger NEVs in China were 3.06 million units, up 36 percent year-on-year, according to the CPCA.
Wholesale sales of passenger NEVs in China were 744,000 units in June, up 30 percent year-on-year and up 10 percent from the previous month.
From January to June, wholesale sales of passenger NEVs in China were 3.53 million units, up 43 percent year-on-year.
Retail sales of all passenger vehicles in China were 1.896 million units in June, down 2 percent year-on-year but up 9 percent from May, according to the CPCA.
This means that the penetration of passenger NEVs at retail in June was 33.64 percent, up from 31.66 percent in May.
Retail sales of all passenger vehicles in China from January to June were 9.528 million units, up 3 percent year-on-year.
Wholesale sales of passenger cars in China increased 2.23 million units in June, up 2 percent year-on-year and up 11 percent from May.
From January to June, China's wholesale passenger vehicle sales were 11.06 million units, up 9 percent year-on-year.
The following is the CPCA's weekly retail sales performance for the Chinese passenger vehicle market for June, as announced today:
For the first week of June, June 1-4, passenger vehicle daily retail sales averaged 31,000 units, down 9 percent year-on-year and down 42 percent from the same period in May.
In the second week of June, from June 5-11, the average daily retail sales of passenger cars were 43,000 units, down 10 percent year-on-year and 14 percent lower than the same period in May.
In the third week of June, June 12-18, average daily retail sales of passenger cars were 58,000 units, down 2 percent year-on-year but up 21 percent from the same period in May.
In the fourth week of June, June 19-25, average daily retail sales of passenger cars were 75,000 units, up 9 percent year-on-year and up 53 percent from the same period in May.
In the fifth week of June, from June 26-30, the national passenger car market averaged 108,000 daily retail sales, down 7 percent year-on-year and up 30 percent from the same period in May.
China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900
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The entry-level variant of the crossover was previously shipped from China to Europe.
