Category: Electric

China NEV retail at 483,000 in 1st 4 weeks of May, flat from same period last month

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, according to the CPCA.

China NEV retail at 483,000 in 1st 4 weeks of May, flat from same period last month-CnEVPost

(Image credit: CnEVPost)

In the first four weeks of May, from May 1 to May 28, retail sales of passenger new energy vehicles (NEVs) in China were 483,000 units, up 82 percent year-on-year and flat compared with the same period last month, according to data released yesterday by the China Passenger Car Association (CPCA).

So far this year, China's retail sales of passenger NEVs were 2.236 million units, up 43 percent year-on-year.

Wholesale sales of passenger NEVs in China from May 1 to 28 were 550,000 units, up 81 percent year-on-year and up 1 percent from the same period in April, according to the CPCA.

So far this year, wholesale sales of passenger NEVs in China were 2.658 million units, up 49 percent year-on-year.

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, the CPCA said.

So far this year, cumulative retail sales of passenger cars in China were up 2 percent to 7.287 million units.

This means that the penetration of NEVs at retail in China was 34.7 percent in the first four weeks of May and 31.9 percent so far this year.

In the first week of May, May 1-7, the average daily retail sales of passenger cars in China were 54,000 units, up 67 percent from the same period last May and up 46 percent from the same period in April.

In the second week of May, from May 8 to 14, the average daily retail sales of passenger cars in China were 48,000 units, up 44 percent over the same period last May and up 6 percent over the same period in April.

In the third week of May, from May 15-21, the average daily retail sales of passenger cars in China were 48,000 units, up 15 percent from the same period last May but down 12 percent compared with the same period last month.

The average daily retail sales of passenger cars in China for the fourth week of May were 50,000 units, down 17 percent year-on-year and down 33 percent from the same period last month.

The last three days of April were the Labor Day holiday, while the last three days of May are normal sales time, so the month-end increase is still worth looking forward to, the CPCA said.

Data table: China auto sales in May 1-28

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35% Plugin Vehicle Market Share In China! (China EV Sales Report)

Plugin vehicles are all the rage in the Chinese auto market. Plugins scored over half a million sales last month, up 93% year over year (YoY). That pulled the year-to-date (YTD) tally to over 1.9 million units. Share-wise, with April showing another great performance, plugin vehicles hit 35% market share! Full electrics (BEVs) alone accounted […]

Geely reportedly plans to enter Thailand EV market

is in the early stages of planning its entry into Thailand's EV market, including weighing imported and locally made models, Reuters reported.

(A car displayed by Geely's Livan brand at the Shanghai auto show in April 2023. Image credit: CnEVPost)

Thailand is a key stop for Chinese automakers as they expand internationally, with Geely reportedly becoming the latest to target that Southeast Asian market.

Geely is in the early stages of planning its entry into Thailand's electric vehicle (EV) market, including weighing imported and locally built models, Reuters reported today, citing two people familiar with the matter.

Considerations include whether to sell entry-level EVs in Thailand, as well as an electric pickup truck under its new Radar brand, the people said.

Thailand's Board of Investment held discussions with five major Chinese automaker makers, including Geely, during a road show in China in April, the report said, citing Narit Therdsteerasukdi, the board's secretary general.

The other companies are , Changan Automobile, JAC Motors and Jiangling Motors, according to the report.

Discussions with Geely have faced additional complications because the company has given working-level autonomy to brand-level operating groups such as Geometry and Radar, the report said, citing a person familiar with the matter.

Geely needs to decide what models to bring to Thailand, and its review includes the possibility of building a plant in Thailand, according to the report.

Geometry, an EV brand Geely launched in 2019, sold 57,877 units in the January-April period, up 73.54 percent year-on-year, according to data monitored by CnEVPost.

Radar, Geely's outdoor lifestyle brand unveiled in July 2022, launched its first model, the RD6 electric pickup, in China in November 2022.

The Thai government's goal is that EV production is expected to account for 30 percent of total vehicle production by 2030.

The country hopes to become a major EV hub in Southeast Asia, which provides an opportunity for Chinese automakers.

On March 10, BYD broke ground on its plant in Thailand, when the company held a ceremony to deliver the 9,999th and 10,000th BYD Atto 3s.

BYD's plant is expected to start production in 2024 with an annual capacity of about 150,000 units.

Hozon Auto's brand also broke ground on a plant in Bangkok, Thailand, on March 10, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.

In addition to car companies, major suppliers in China's EV industry chain are also targeting the Thai market.

Gotion Singapore, a wholly owned subsidiary of Volkswagen-backed Chinese power battery giant Gotion High-tech, signed an agreement with Thailand's Nuovo Plus Company Limited on December 15, 2022, to set up a joint venture, according to a bourse announcement at the time.

The two parties plan to establish a joint venture company, NV Gotion Co Ltd, in Thailand to build a power lithium-ion battery pack production base, according to Gotion's announcement.

On May 13, 2022, announced that it had signed a strategic cooperation memorandum with Thailand's Arun Plus to cooperate on battery-related businesses in the ASEAN region.

On May 3 of this year, a Reuters report said that Thailand was in talks with CATL and other battery manufacturers to build production facilities in the Southeast Asian country.

Geely Holding becomes 3rd largest shareholder of Aston Martin, increases stake to 17%

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

Musk met with China's Minister of Industry and Information Technology and Minister of Commerce today. He met with China's foreign minister after arriving in Beijing yesterday and was seen meeting with 's chairman.

(Image credit: CnEVPost)

(NASDAQ: TSLA) CEO Elon Musk began the second day of his visit to China today, meeting with more local officials.

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

The MIIT is China's industrial regulator, overseeing areas including the automotive industry.

Earlier today, Reuters reported that Musk visited China's Ministry of Commerce and met with Commerce Minister Wang Wentao.

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

Tesla opposes decoupling as well as 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 yesterday.

In addition to the meeting with Chinese officials, Musk was seen yesterday meeting with Robin Zeng, chairman of CATL, the world's largest power battery maker.

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

Neither Tesla nor CATL made an announcement about the meeting. Local media outlet The Paper cited industry sources as saying the talks could include cell supply for Tesla's Megafactory in Shanghai, future cooperation on a battery plant in North America and power cell supply.

Tesla signed a contract with Shanghai's Lingang authorities on April 9 to build a new Megafactory in the area, which will be dedicated to the production of Tesla's energy storage product Megapack.

The Megafactory will be Tesla's first energy storage system factory outside of the US home market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.

The plant is scheduled to start construction in the third quarter of this year and go into operation in the second quarter of 2024, according to an announcement by the Lingang special area administration.

Tesla's vehicle assembly plant in Shanghai is located in the Lingang area, which began operations in late 2019 and has now become Tesla's largest EV production site in the world.

Tesla sold 75,842 China-made vehicles in April, including 39,956 delivered in China and 35,886 exported, according to data released earlier in the month by the China Passenger Car Association (CPCA).

Chinese foreign minister Qin Gang meets with Tesla CEO Elon Musk in Beijing

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