Category: eV

XPeng says G6 gets over 25,000 orders 72 hours after pre-sale starts

Many visitors have experienced the show cars at stores over the past 3 days, demonstrating their enthusiasm for the G6, it said.

(Image credit: XPeng)

XPeng's (NYSE: XPEV) new SUV, the G6, appears to be getting a good initial reception, the electric vehicle (EV) maker's pre-sale orders announced today showed.

The XPeng G6 received more than 25,000 orders within 72 hours of the start of pre-sales, the company said on Weibo.

Many visitors have experienced the show cars in XPeng stores over the past three days, demonstrating their enthusiasm for the G6, the company said.

Visitors have commented positively on the XPeng G6's space, 755 km range, and fast-charging capability thanks to the 800 V high-voltage platform, XPeng said.

XPeng will announce official configurations and pricing at the end of June, and the company will accelerate its capacity climb and deliver vehicles as early as possible, its chairman and CEO He Xiaopeng said in a retweet of XPeng's Weibo.

XPeng began pre-sales for the G6 on June 9, with pre-sale prices starting at RMB 225,000 ($31,510), significantly lower than the RMB 263,900 starting price of the Model Y in China.

The G6 show cars are already available at XPeng stores, and the model will officially launch on June 29 with deliveries starting in July, the company said last week.

Consumers who pay RMB 2,000 to reserve an XPeng G6 now will receive an RMB 5,000 discount when they pay for the car.

XPeng unveiled a new architecture, called SEPA (Smart Electric Platform Architecture) 2.0, at a technology 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 fully autonomous driving is achieved.

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

It is an all-electric mid-size 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.

The G6 will be a hot seller in China's new energy SUV market in the RMB 200,000 to 300,000 range and will enable XPeng's total deliveries to grow well above the industry in the third quarter, the company's management said in a conference call with analysts after announcing its first-quarter earnings on May 24.

That means XPeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on May 30.

($1 = RMB 7.1399)

XPeng surges in HK as investors seem to like G6's pre-sale price

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NIO’s William Li responds to price cuts across entire lineup

has been discussing this adjustment internally for a long time, and as of 3 am today the NIO team was still working on it, William Li said.

(Image credit: CnEVPost)

NIO (NYSE: NIO) today announced the largest price and benifit adjustment in its history in an attempt to boost sales. The company's helmsman responded to the move.

NIO has been discussing the adjustment internally for a long time, with input and suggestions from some of its customers, William Li, the electric vehicle company's founder, chairman and CEO, said in a reply to an article in the NIO App.

The company had so much to consider for this that the NIO team was still working on it as of 3 am today, he said.

Now is the most appropriate time to announce the change, although the company still has some things to think about and can't make everyone happy, Li said.

NIO lowered the starting prices for all models by RMB 30,000 yuan ($4,200) starting today and made the battery swap service, which was previously offered four or six times a month for free, a paid option.

Under the latest pricing system, NIO's cheapest model, the ET5 sedan, starts at RMB 298,000, and if consumers choose to lease the battery with the BaaS (battery as a service) option, the vehicle starts at RMB 228,000.

The new ES6, which only went on sale and began deliveries late last month, starts at RMB 338,000 under the new pricing system and RMB 268,000 under the BaaS model.

In fact, many NIO supporters in China have been calling for the adjustment on social media for a long time.

NIO initially offered owners unlimited free battery swap service and free home charging piles, and scaled back the entitlement to six free services per month and a free home charging pile a few years later.

On April 10, the company announced that effective June 1, consumers who purchase the NIO ET7, EC7, ES7, and ET5 will no longer receive a free home charger, and the free battery swap entitlement will be adjusted to four times per month.

Since the free battery swap service is directly tied to the sale of NIO vehicles, it discourages potential consumers in areas where the number of battery swap stations is small from taking an interest in NIO vehicles, as they may believe that the cost of their vehicle purchase includes the battery swap service that they will not be able to enjoy in the short term.

At the same time, the high price of NIO vehicles means that its owner base is more likely to have a fixed parking space than other brands, and for these people, charging at home is cheap, making the free battery swap service redundant.

In a June 9 analyst call following NIO's first-quarter earnings announcement, Li said the company was considering adjusting customer benefits, such as free battery swap service that some owners may not need, hinting at today's move.

($1 = RMB 7.1435)

BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional

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BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap service optional

This article is being updated, please refresh later for more content.

(Image credit: CnEVPost)

(NYSE: NIO) has significantly lowered the starting prices of its entire lineup of models and made a key free service previously offered as a paid option in an attempt to boost sales.

Starting June 12, the starting prices for all new NIO models will be reduced by RMB 30,000 yuan ($4,200), but the previously free battery swap service, which is offered several times a month, will become a paid option, the company announced today.

Consumers who pay a deposit for an NIO model starting today will receive a 6-year or 150,000 km warranty for the first owner and a 10-year unlimited mileage warranty for the motor, electric control and electric drive systems. They will also receive 6 years of free internet connectivity, 8GB of monthly internet traffic, and free lifetime roadside assistance.

Consumers who pay the deposit for the new ES6 and the new ES8 on or before July 31 will still receive a free home charging pile.

The free battery swap service will no longer be available as a base benefit, and consumers will have the option to get the service for a single payment, NIO said, adding that the company will introduce flexible charging and battery swap service packages.

Customers who pay a deposit for a new NIO vehicle between June 12 and July 31 can pay RMB 30,000 for an upgraded service package, which includes:

Free lifetime battery swap service 4 times a month;

A 10-year unlimited mileage warranty on the vehicle;

Free lifetime car internet connectivity with 8GB of traffic per month;

Lifetime free roadside assistance.

Consumers who pay a deposit for the new ES6 and ES8 on or before July 31, and who also purchase the service package, can choose to forgo the free home charging pile entitlement and upgrade the number of free battery swap services to six per month.

For consumers who have already locked in their orders but have not yet received delivery, NIO will assume that they have purchased the upgrade package and maintain the same purchase price.

However, they can also contact NIO's specialists to cancel the upgrade package before delivery and have the purchase price reduced by RMB 30,000.

For NIO owners who have already received delivery, their benefits remain the same. If they purchase another NIO vehicle, they can choose to transfer the benefits from the original vehicle to the new vehicle.

If they give up the original free battery swap service of 4 or 6 times per month, then they can get a discount of RMB 30,000 when they buy a new NIO model again.

For those owners who originally had unlimited free battery swap for life, they can receive a RMB 50,000 discount on the purchase of a new NIO vehicle if they give up this benefit.

As of today, NIO has 1,484 battery swap stations in China and has provided more than 22.9 million free battery swap services. It also has 15,881 completed charging piles in China.

(1 $= 7.1435 RMB)

NIO keeps goal of doubling sales this year despite price war causing greater challenges

The post BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap service optional appeared first on CnEVPost.

For more articles, please visit CnEVPost.

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