Category: Electric

Neta deliveries up 18% MoM in May, denies HK IPO plan

Earlier today, Bloomberg reported that the company is considering filing for its $1 billion Hong Kong IPO as soon as this month.

Auto, the electric vehicle (EV) brand owned by Hozon Auto, saw deliveries rise about 18 percent last month and denied reports that it plans to make an initial public offering (IPO) in Hong Kong.

Neta delivered 13,029 vehicles in May, up 18.35 percent from 13,029 in the same month last year and up 17.59 percent from 11,080 in April, data released by the company today showed.

From January to May of this year, Neta delivered 50,285 vehicles, up 0.62 percent from 49,974 in the same period last year.

Neta was founded in October 2014 and its first model was launched in November 2018.

Its cumulative deliveries since the company's inception stand at 298,334 vehicles, data monitored by CnEVPost show.

It delivered 152,073 vehicles in 2022, an increase of 118.26 percent year-on-year.

Neta has previously been seen as a budget EV maker, as its vehicles are priced primarily to target the lower end of the market.

The company's previous main-selling models, the Neta V and Neta U, were priced in China at around RMB 100,000 ($14,090) to RMB 150,000.

The Neta S is Neta's first effort at the upper end of the market, where it sells for about RMB 300,000. On April 18, the Neta GT sports car went on sale with a starting price of RMB 178,800 to RMB 227,800.

Earlier today, Bloomberg reported that Hozon Auto is considering filing for its $1 billion Hong Kong IPO as soon as this month.

The company has included ABC International Holdings Ltd and China Merchants Bank International to the banks working on the listing, the report said.

Neta later posted a statement on Weibo denying the report, calling it untrue.

Neta saw its 300,000th production car roll off the line yesterday, 16 months after its 100,000th car rolled off the line.

Neta opened its global headquarters in Shanghai on May 29. Previously it had a Shanghai headquarters in Minhang district, a design center in Beijing and a factory in Tongxiang, Zhejiang province.

($1 = RMB 7.0984)

Neta deliveries in May: 13,029

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GAC Aion posts record sales of 45,003 units in May, up 10% from Apr

From January to May, sold 166,323 vehicles, an increase of 118.44 percent year-on-year.

GAC Aion, the new energy vehicle (NEV) subsidiary of GAC Group, sold a record 45,003 vehicles in May, the third consecutive month of more than 40,000 units, according to figures released today.

That's up 113.73 percent from 21,056 vehicles in the same month last year and up 9.73 percent from 41,012 vehicles in April.

From January to May, GAC Aion sold 166,323 vehicles, which represents a 118.44 percent increase over the 76,142 units sold in the same period last year, according to data monitored by CnEVPost.

GAC Aion is currently selling the Aion series, targeting the mass market, such as the Aion S sedan with a price range of RMB 139,800 (RMB 19,690 USD) to RMB 172,800.

On September 15, 2022 the company announced its new premium brand Hyper, and its first model, the Hyper SSR supercar, to enter the higher end of the market.

GAC Aion is offering two versions of the Hyper SSR, with the regular version priced at RMB 1.286 million in advance and capable of accelerating from 0 to 100 km/h in 2.3 seconds.

The other version, Hyper SSR Ultimate, is priced at RMB 1,686,000 and can accelerate from 0 to 100 km/h in 1.9 seconds.

The model, the fastest accelerating car on the planet, will begin mass production and delivery in October 2023, GAC Aion said at the time.

Pre-orders for the Hyper brand's second model, the Hyper GT sedan, began April 16 with a price range of RMB 219,900 to RMB 339,900.

(Image credit: CnEVPost)

Consumers can purchase the car using a leasing model similar to the , which reduces the price of the car by RMB 70,000 for a monthly rental fee of RMB 980.

Positioned as an all-electric mid-to-large-size coupe, the Hyper GT is the brand's second model, measuring 4,880 mm in length, 1,885 mm in width and 1,455 mm in height, with a wheelbase of 2,910 mm.

The official launch date for the Hyper GT has not yet been announced.

($1 = RMB 7.0991)

GAC Aion sales in May: 45,003

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XPeng to start pre-sales of G6 SUV on Jun 9

The G6 needs to be successful for to be truly relevant to the market again, Deutsche Bank analyst Edison Yu's team said earlier this week.

(Image credit: CnEVPost)

XPeng (NYSE: XPEV) will start pre-sales of the G6, a new SUV aimed at competing with 's (NASDAQ: TSLA) Model Y, in a week's time.

Pre-sales for the XPeng G6 will begin on June 9, the Chinese electric vehicle (EV) maker announced today on Weibo, without giving any further details.

XPeng had previously pre-sold the P5 sedan. As per previous practice, it is expected to announce the G6's pre-sale price next week and the SUV's official price at the end of June.

The XPeng G6 will officially launch in June, with volume deliveries starting in July, and production capacity will climb rapidly, the company's management said in a May 24 analyst call after announcing first-quarter earnings.

The G6 will be a hot seller in China's new energy SUV market priced between 200,000 yuan ($28,150) and 300,000 yuan, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.

With about two months set aside for the G6 from the start of production to delivery, XPeng expects the model to reach more than double the sales of the P7i, its management said.

"With margins and cash burn looking materially worse following 1Q earnings, we believe management may be making its last stand with the G6," said Deutsche Bank analyst Edison Yu's team in a research note sent to investors on May 30.

Yu's team believes that XPeng management's words on the call indicate that the EV maker expects to sell 6,000-8,000 units of the G6 per month.

The G6 needs to be successful for XPeng to be truly relevant to the market again, Yu's team said.

XPeng unveiled a new architecture called SEPA (Smart Electric Platform Architecture) 2.0 at a technical conference in Shanghai on April 16, saying the G6 would be the first model built on the architecture.

On April 18, XPeng officially unveiled the G6 on the first day of the Shanghai auto show, saying that the G6 is the ultimate form of car before full self-driving is achieved.

The model is based on the 800 V high-voltage platform and can get a 300-kilometer range in as little as 10 minutes on a charge, XPeng said at the time. The company's other 800 V-based model is the flagship G9 SUV.

XPeng cited the Tesla Model Y as its main competitor to the G6 and hopes to attract consumers with its sleeker design and updated interior.

The vehicle is positioned as an all-electric midsize SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.

For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm, respectively, and a wheelbase of 2,890 mm.

($1 = RMB 7.1042)

XPeng making its last stand with G6, says Deutsche Bank

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Musk ends China visit after visiting Tesla Shanghai plant last night

Musk arrived in Shanghai from Beijing yesterday evening and toured the Shanghai factory overnight.

Tesla (NASDAQ: TSLA) CEO Elon Musk has wrapped up his brief visit to China, where he spent the past two days meeting with several Chinese officials and visiting Tesla's Shanghai factory.

Musk's private jet with registration number N628TS took off from Shanghai's Hongqiao Airport at 11:23 am Thursday and is expected to arrive in Austin, where Tesla is headquartered, in 12 hours and 50 minutes, according to flight-tracking platform Variflight.

The Tesla CEO arrived in Shanghai from Beijing yesterday evening and toured the Tesla Shanghai factory overnight.

Early this morning, Grace Tao, Tesla's vice president of external affairs, shared two images on Weibo showing Musk with Giga Shanghai employees.

(Images from Grace Tao's Weibo.)

The Weibo was posted at 0:28, while Tao was at the facility, her Weibo location information shows.

Neither Tao nor Tesla disclosed the exact schedule of Musk's activities at Giga Shanghai, though Bloomberg reported that the first cars to roll off the line at the plant on Thursday were prototypes of the updated Model 3 sedan.

Musk arrived in Beijing on May 30 on his private jet, and was later met by Chinese State Councilor and Foreign Minister Qin Gang in Beijing.

Tesla opposes decoupling and supply chain disconnection and is willing to continue to expand its business in China and share in China's development opportunities, Musk said, according to a statement from the Chinese Foreign Ministry.

On May 31, Chinese Minister of Industry and Information Technology (MIIT) Jin Zhuanglong met with Musk in Beijing, where the two sides exchanged views on topics including the development of new energy vehicles (NEVs) and smart connected vehicles, according to an announcement from the MIIT.

Musk then visited China's Ministry of Commerce and was met by Commerce Minister Wang Wentao.

In addition to the meeting with Chinese officials, Musk was seen meeting with Robin Zeng, chairman of , the world's largest power battery manufacturer, on May 30.

A picture circulating on Chinese social networks shows Musk and Zeng together in the lobby of a hotel.

Musk meets with more officials as he begins 2nd day of China visit

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NIO adds 10 showrooms and 66 swap stations worldwide in May

As of May 31, had 118 NIO Houses and 269 NIO Spaces worldwide.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO)

NIO (NYSE: NIO) continued its expansion of showrooms and infrastructure in May.

The Chinese electric vehicle (EV) maker added 10 showrooms and 66 battery swap stations worldwide in May, according to information released today by the NIO App.

NIO's showrooms include the flagship NIO Houses and the smaller NIO Spaces. The former is a space where NIO offers owners a quality lifestyle, in addition to displaying and selling vehicles.

The company added four new NIO Houses in May, all of which are located in China. To date, the total number of NIO Houses worldwide is 118, including 114 in China and 4 in Europe.

NIO added six NIO Spaces in May, all of which are also located in China. As of May 31, NIO had 269 NIO Spaces worldwide, including 263 in China and 6 overseas.

NIO also added 10 new service centers in May, including three in China and seven overseas. This brings the total number of facilities to 299, including 257 in China and 42 overseas.

NIO added 1 new delivery center in May, bringing the total number of such facilities to 53.

In May, NIO added 66 battery swap stations, including 64 in China and 2 overseas.

As of May 31, NIO had 1,464 battery swap stations worldwide, with 1,448 in China and 16 overseas.

NIO also added 93 charging stations in May, bringing the number to 2,648, of which 2,640 are in China and 8 are overseas.

As of May 31, NIO had 15,673 charging piles worldwide, including 15,649 in China and 24 overseas.

NIO's charging map added access to 22,511 third-party charging piles in May, bringing the total to more than 1,110,000, including more than 400,000 overseas.

The company is expected to announce vehicle delivery figures for May later today. It delivered 6,658 vehicles in April, down 35.85 percent from 10,378 in March.

NIO kicks off preparations for NIO Day 2023

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Geely Galaxy launches 1st model L7 to gain share in hybrid market

The Galaxy L7 is available in five versions with a starting price of RMB 138,700, or about $19,500.

(Image credit: Geely Galaxy)

Geely Galaxy, the new energy vehicle (NEV) sub-brand of Geely Auto Group, has made its first model, the L7, available to gain share from the plug-in hybrid market.

Geely Galaxy officially made the L7 available in China at a launch event yesterday, offering five versions with starting prices of RMB 138,700 ($19,500), RMB 143,700, RMB 153,700, RMB 163,700, and RMB 173,700, respectively.

The Geely Galaxy L7 is a hybrid SUV with a length, width and height of 4,700 mm, 1,905 mm and 1,685 mm, respectively, and a wheelbase of 2,785 mm.

Based on the e-CMA architecture, the vehicle is powered by a 1.5T four-cylinder engine with a combined maximum system power of 287 kW and a combined maximum torque of 535Nm and can accelerate from 0 to 100 km/h in 6.9 seconds.

The Geely Galaxy L7 has two battery range options, with a CLTC pure electric range of 55 km and 115 km respectively. The model has a combined range of up to 1,370 km on full fuel and full charge.

The car is powered by a 1.5T engine with a thermal efficiency of 44.26 percent, ranking first among known production engines, said Geely Galaxy.

The Geely Galaxy L7 supports fast charging and external discharge, taking 30 minutes to replenish energy from 30 percent to 80 percent.

The vehicle uses the Qualcomm Snapdragon 8155 chip, the cockpit chip currently used in mainstream flagship electric vehicles in the Chinese market.

First deliveries of the L7 will begin on June 13, Geely Galaxy said.

Geely Auto Group officially launched the new Geely Galaxy brand on February 24 and unveiled its first production model, the L7.

Geely Galaxy plans to launch a total of seven models by 2025, including four plug-in hybrids in the L-series and three all-electric models in the E-series.

Geely Galaxy will launch the L6 in the third quarter of 2023, the L5 in the second quarter of 2024, and will launch the L9 in 2025.

In the all-electric product sequence, Geely Galaxy will launch the Galaxy E8 in the fourth quarter of 2023, the Galaxy E7 in the second quarter of 2024, and the Galaxy E6 in the third quarter of 2024.

Geely Auto Group CEO Gan Jiayue said in January that the group's sales target for 2023 is 1.65 million vehicles, including 600,000 NEVs.

Geely Auto Group sold 1.43 million vehicles in 2022, up 8 percent from a year earlier, including about 330,000 NEVs, according to data monitored by CnEVPost.

In April, the group sold 113,642 vehicles, up 3 percent from 110,300 in March, according to data it released last month.

($1 = RMB 7.1116)

Geely Galaxy brand officially launched, to roll out 7 models by 2025

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