Category: eMobility

Zeekr reaches 100,000 cumulative deliveries

This means Zeekr has delivered 6,818 vehicles so far this month, considering it had 93,182 cumulative deliveries through the end of March.

(Image credit: Zeekr)

Zeekr, 's premium electric vehicle (EV) brand, saw its 100,000th vehicle delivered, marking a milestone in its history.

Zeekr's 100,000th vehicle was officially delivered today in the southern Chinese city of Shenzhen, the EV maker announced on Weibo.

The vehicle, a Zeekr 009 MPV, was delivered to a Zeekr 001 owner, according to the company.

(Zeekr 009. Image credit: CnEVPost)

That means Zeekr has delivered 6,818 vehicles so far this month, considering it had 93,182 cumulative deliveries through the end of March.

Zeekr delivered 6,663 vehicles in March, up 271.20 percent year-on-year and up 22.14 percent from February, according to data it released earlier this month.

Zeekr was officially launched as a standalone company in March 2021, with its first model, the Zeekr 001, launched on April 15, 2021, and deliveries beginning in October 2021.

(Zeekr 001. Image credit: CnEVPost)

On November 1, 2022, Zeekr's second model, the Zeekr 009 MPV, was launched, and its deliveries began on January 15.

On April 12, Zeekr launched its third model, the Zeekr X, which it hopes will become the benchmark for luxury compact cars.

The Zeekr X is already taking reservations and deliveries will begin in June, with the model aiming to deliver 40,000 units this year.

(Zeekr X. Image credit: CnEVPost)

On April 20, Zeekr saw its 100,000th vehicle roll off the line, a ME version Zeekr 009 MPV powered by 's Qilin Battery and built at Zeekr's plant in Ningbo, Zhejiang province.

The first deliveries of the ME version of the Zeekr 009 began on April 17, marking the global debut of the Qilin Battery in production vehicles.

The Zeekr 009 ME version is equipped with a battery pack with a capacity of 140 kWh, providing a CLTC range of 822 km, the highest among pure electric MPVs.

Zeekr releases Europe strategy, 2 models to debut in Sweden and Netherlands in Q4

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Evergrande NEV puts Hengchi 5 production on hold due to lack of funds

Evergrande NEV said it plans to resume production of the Hengchi 5 in May.

Evergrande NEV puts Hengchi 5 production on hold due to lack of funds-CnEVPost

(A Hengchi 5 on display at the 2021 Shanghai auto show. Image credit: CnEVPost)

Evergrande New Energy Vehicle Group (Evergrande NEV), the electric vehicle (EV) unit of China's Evergrande Group, has put production of its first model on hold, after warning of the risk a month ago.

Evergrande NEV has already delivered more than 900 Hengchi 5 units to consumers, but will suspend production of the model at its Tianjin plant due to a lack of funding, according to a Hong Kong Stock Exchange announcement yesterday.

The group plans to resume production of the model in May, the announcement added.

Hengchi 5 is the first mass-produced model of Evergrande NEV's Hengchi Auto, and its deliveries started on October 29, 2022.

The model is currently available in only one version, with a starting price of RMB 179,000 ($25,930).

On December 2, Reuters reported that Evergrande NEV suspended mass production of the Hengchi 5 due to a lack of sufficient new orders.

On March 23, Evergrande NEV said in a Hong Kong Stock Exchange announcement that it had continued to push ahead with cost-saving initiatives to focus its financial resources on supporting mass production of Hengchi 5, with layoffs at its Swedish subsidiary National Electric Vehicle Sweden AB.

However, Evergrande NEV would be at risk of halting production in the event that additional liquidity is not available, the announcement said.

The group will plan to launch a number of flagship models if it can seek more than RMB 29 billion in future financing and hopes to get them into mass production, the announcement said.

Interestingly, the Hengchi 5 received an OTA upgrade on April 3, when the H-Pilot assisted driving system became available for the first time.

Trading of Evergrande NEV's shares in Hong Kong has been suspended from April 1, 2022, and the timing for restarting trading has not yet been determined.

($1 = RMB 6.9041)

Hengchi 5 gets assisted driving capability days after Evergrande NEV warns of production halt risk

The post Evergrande NEV puts Hengchi 5 production on hold due to lack of funds appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Insurance registrations for week ending Apr 23: Tesla 10,300, Li Auto 7,200, NIO 2,000

NIO sold 2,000 units last week, up from 700 the week before and 1,316 in the first week of April.

(NASDAQ: LI) maintained strong sales last week, and NIO (NYSE: NIO) saw a significant rebound, the latest data show.

With 7,200 units sold in the week ending April 23, Li Auto far outpaced other new car-making brands, the automaker said today on Weibo.

With deliveries of the Air versions of the Li L8 and Li L7, Li Auto's weekly sales hit another record high, it said.

Li Auto didn't specify what statistic that sales figure was based on, though apparently, it was insurance registrations. Previously, we had access to those numbers every Tuesday, and Li Auto's practice was to share some of them on Wednesdays.

The main third-party agencies and Weibo bloggers that provide data on auto insurance registrations in China stopped sharing the data this month, but Li Auto continues to share some of it.

This is the first time Li Auto has shared those numbers on a Tuesday, though they weren't taken down to single digits.

(NASDAQ: TSLA) sold 10,300 units last week, according to the table shared by Li Auto. That was down from 12,500 units the week before and up from 6,973 units in the first week of April.

NIO sold 2,000 units last week, up from 700 the week before and 1,316 in the first week of April.

(NYSE: XPEV) sold 1,900 units last week, up from 1,300 units and 904 units in the previous two weeks.

sold 2,100 units last week, up from 1,600 units the previous week and 1,476 units in the first week of April.

Among luxury brands, Mercedes-Benz, BMW and Audi had the highest sales last week with 15,800, 15,600 and 14,800 respectively, according to data shared by Li Auto.

Insurance registrations for week ending Apr 16: Tesla 12,500, Li Auto 6,300, NIO 700

The post Insurance registrations for week ending Apr 23: Tesla 10,300, Li Auto 7,200, NIO 2,000 appeared first on CnEVPost.

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Rove to Build Attractive Full-Service EV Charging Centers in California

Rove, a developer of full-service electric vehicle (EV) charging centers, confirms plans to build six locations in Southern California starting in 2023. Rove says it will set a new standard in EV charging with a premium, customer-centric experience. Focused on fast, smart, and reliable charging, each Rove will host 40 (yes, 40) ultra-fast, direct-current fast […]

China to introduce credit pool for NEV dual credit system that is expected to facilitate credit trading

Automakers can voluntarily apply for storage of positive credits when the supply exceeds demand, and release credits when the supply is less than demand.

China to introduce credit pool for NEV dual credit system that is expected to facilitate credit trading-CnEVPost

(Image credit: CnEVPost)

China will introduce a new credits trading system for the dual-credit mechanism in the new energy vehicle (NEV) industry, which is expected to facilitate credits trading between automakers.

The country has launched the second revision of its dual-credit mechanism, which will implement a credits pool management system and explore mechanisms to interact with the carbon trading market, the Shanghai Securities News said in a report today.

The 2023 annual credits report press conference was held today in Beijing, where China's industry regulators released the information, according to the report.

Under the credit pool system, automakers can voluntarily apply for storage of positive credits for NEVs when the supply exceeds demand.

The storage of positive credits collected into the pool is valid for five years. The previous carryover ratio requirement will be canceled, i.e. there will no longer be a discount for credits carried over to the next year.

When the supply of credits is less than the demand, automakers can release the stored positive credits to regulate the supply and demand in the credits market.

The trigger condition for the pool to collect and release credits is determined by the ratio of supply to demand, which refers to the ratio of positive NEV credits available for trading in the current year to the negative credits to be offset by external trading.

The Shanghai Securities News report provided no further information on this new mechanism.

China released the dual-credit policy in 2017, whose full name is "Parallel Management Measures for Average Fuel Consumption of Passenger Vehicle Enterprises and New Energy Vehicle Credits". The policy has been in effect since April 1, 2018.

Automakers that fail to meet the fuel consumption control requirements can offset the negative credits from excessive fuel consumption by generating their own NEV credits, or by purchasing credits from other companies.

If a car company is unable to bring negative credits to zero, then they will need to submit a product adjustment plan to the MIIT and set a deadline for compliance.

Until their negative credits are zeroed out, products with substandard fuel consumption cannot be sold to the public.

The policy is seen as one of the keys to promoting the rapid growth of China's NEV industry, allowing the country to reach its 2025 NEV penetration target of more than 25 percent ahead of schedule.

For the full year 2022, China's retail sales of new energy passenger vehicles were 5.67 million units, up 90 percent year-on-year, contributing 27.6 percent of all passenger vehicle sales, according to the China Passenger Car Association (CPCA).

China's 'dual credit' policy, what you need to know

The post China to introduce credit pool for NEV dual credit system that is expected to facilitate credit trading appeared first on CnEVPost.

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