Category: eV

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760

From January to April, the Model Y sold 121,407 units, making it the second-best-selling new energy SUV in China during this period.  |  TSLA.US

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760-CnEVPost

Tesla's retail sales in China in April included 13,196 Model 3 electric sedans and 26,760 Model Y electric crossovers, according to data released today by the China Passenger Car Association (CPCA).

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760-CnEVPost

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760-CnEVPost

Figures released earlier this month by the CPCA show that Tesla sold 75,842 China-made vehicles in April, including 35,886 units exported.

That means Tesla delivered 39,956 vehicles in China in April, with 47.32 percent of the vehicles produced at the Shanghai plant being exported.

The US electric vehicle maker's plant in Shanghai currently only produces the Model 3 as well as the Model Y. Including exports, the two models sold 26,783 and 49,059 units in April, respectively, according to the CPCA.

Today's figures mean that Tesla's Shanghai plant exported 13,587 China-made Model 3s and 22,299 China-made Model Ys in April.

In China, Model Y sales in April were up 2,687.50 percent from 960 units in the same month last year, but down 51.29 percent from 54,937 units in March.

Model 3 sales in China in April were up 2,290.58 percent from 552 units a year ago, but down 39.26 percent from 21,726 units in March.

These changes are due to the fact that Tesla's sales in China fell sharply last April due to the Covid lockdown in Shanghai, and its pattern of producing vehicles primarily for export in the first half of each quarter.

In the rankings released today by the CPCA, the Model Y was the third best-selling new energy SUV in April.

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760-CnEVPost

BYD Song and BYD Yuan Plus were the top 2 best-selling new energy SUVs in April with 33,007 and 28,931 retail sales, respectively.

From January to April, the Model Y sold 121,407 units, up 60.5 percent year-on-year, and was the second best-selling new energy SUV during this period, according to the CPCA's rankings.

The BYD Song was the top-selling new energy SUV from January to April, with 174,422 units, up 83.0 percent year-on-year.

Among the top 10 new energy sedans in April, the Tesla Model 3 came in at No. 7, while NIO's (NYSE: NIO) ET5 sedan failed to make the list.

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760-CnEVPost

Among the top retail sales of new energy sedans from January to April, the Tesla Model 3 ranked No. 5, while the BYD Qin ranked No. 1 with 130,602 units.

Tesla Apr sales breakdown in China: Model 3 at 13,196 units, Model Y 26,760-CnEVPost

Tesla hikes Model 3, Model Y prices slightly in China

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Li Auto sees Q1 revenue beat expectations, net income up 252% from Q4

Li Auto expects to deliver between 76,000 and 81,000 vehicles in the second quarter, meaning a total of 50,319 to 55,319 vehicles for May and June.  |  Li Auto US | Li Auto HK

Li Auto sees Q1 revenue beat expectations, net income up 252% from Q4-CnEVPost

Li Auto (NASDAQ: LI) saw revenue beat expectations in the first quarter and net income rose sharply from the previous quarter.

The company reported revenue of RMB 18.79 billion yuan ($2.74 billion) in the first quarter, beating analysts' estimates of 18.68 billion yuan in a Bloomberg survey, according to unaudited financial results released today.

That's up 96.55 percent from a year ago and up 6.46 percent from the fourth quarter, and also above the upper end of the previous guidance range of 17.45 billion yuan to RMB 18.45 billion.

Previous data show that Li Auto delivered a record 52,584 vehicles in the first quarter, which is near the lower end of the 52,000 to 55,000 vehicle guidance range it previously provided.

Li Auto reported a net income of RMB 933.8 million in the first quarter, compared to a net loss of RMB 10.9 million in the same period last year, an increase of 252.0 percent from a net income of RMB 265.3 million in the fourth quarter.

Li Auto sees Q1 revenue beat expectations, net income up 252% from Q4-CnEVPost

It reported non-GAAP net income of RMB 1.41 billion in the first quarter, an increase of 196.4 percent year-on-year and up 46.1 percent over the fourth quarter.

Li Auto had net cash from operating activities of RMB 7.78 billion in the first quarter, an increase of 324.3 percent from the same period last year and up 58.0 percent from the fourth quarter.

The company's vehicle sales for the first quarter were RMB 18.33 billion, up 96.9 percent from the same quarter last year and 6.1 percent from the fourth quarter of 2022.

Li Auto's gross margin was 20.4 percent in the first quarter, compared to 22.6 percent in the first quarter of 2022 and 20.2 percent in the fourth quarter. The decrease in gross margin compared to the same period of last year was primarily caused by a decrease in vehicle margin.

Li Auto sees Q1 revenue beat expectations, net income up 252% from Q4-CnEVPost

It had a vehicle margin of 19.8 percent in the first quarter compared to 22.4 percent in the same quarter last year and 20.0 percent in the fourth quarter of 2022.

The decrease in vehicle margin from the first quarter of 2022 was primarily due to a different product mix between the two quarters, Li Auto said.

It reported a gross profit of RMB 3.83 billion for the quarter, up 77.0 percent year-on-year and up 7.4 percent from the fourth quarter.

Li Auto expects second-quarter vehicle deliveries to be in the range of 76,000 to 81,000 units, implying a year-on-year increase of 164.9 percent to 182.4 percent.

It expects total revenue for the second quarter to be between RMB 24.22 billion and RMB 25.86 billion, representing a year-on-year increase of 177.4 percent to 196.1 percent.

Considering that Li Auto delivered a record 25,681 vehicles in April, the guidance implies that it expects to deliver a total of 50,319 to 55,319 vehicles in May and June.

As of March 31, Li Auto's balance of cash and cash equivalents, restricted cash, time deposits and short-term investments was RMB 65 billion.

Li Auto CEO predicts China NEV penetration to exceed 80% by Dec 2025

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Chinese battery maker Eve Energy to build plant in Hungary

Eve Energy sealed a battery cell supply relationship with BMW last September to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of vehicle models.

(Image credit: Eve Energy)

Chinese lithium battery maker Eve Energy will build a power battery factory in Hungary, possibly in preparation for its supply to BMW.

Eve Energy subsidiary EVE Power Hungary signed an agreement on May 9 with Debreceni, a subsidiary of Hungary's Debrecen government, to buy land owned by the latter in the city's northwest industrial zone for the production of cylindrical power cells, according to a Shenzhen stock exchange announcement yesterday.

The land covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million), according to the announcement.

The deal will meet the company's need for production land for future growth and further scale up production capacity for power and energy storage batteries, Eve Energy said.

Eve Energy's announcement provided no further information, though the move appears to be in preparation for supplying BMW.

On September 9, 2022, Eve Energy announced that it had finalized a cell supply relationship with BMW Group to supply large cylindrical lithium-ion cells for the latter's Neue Klasse line of models.

BMW also said at the time in a post on its official WeChat account that it had awarded contracts worth more than 10 billion euros to and Eve Energy to meet the demand for battery cells for the new generation of models.

The two partners will each build two battery cell plants in China and Europe, each with an annual capacity of 20 GWh, BMW said at the time, adding that it will also look for partners to build two more core plants in the North American Free Trade Area.

BMW will first use cylindrical cells in new-generation models starting in 2025, and that sixth-generation lithium-ion cell will bring a major technological leap forward, allowing more than 20 percent higher energy density, up to 30 percent higher range and up to 30 percent faster charging, it said at the time.

Eve Energy, one of the world's largest manufacturers of power batteries, installed 2.4 GWh of batteries in the first quarter, up 75.5 percent year-on-year, according to data released by South Korean market research firm SNE Research on May 3.

This puts Eve Energy in 9th place globally with a 1.8 percent share, while CATL and BYD are in the top two with 35.0 percent and 16.2 percent shares respectively.

($1 = 0.9119 Euro)

NIO sees first swap station roll off line in Europe as Hungarian plant goes into operation

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