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Category: eV
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.
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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).
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NIO to allow vehicle owners free access to swap stations along highways for upcoming Labor Day holiday
NIO offered similar benefits during the Chinese New Year holiday earlier in the year and saw a surge in battery swap services. | NIO US | NIO HK | NIO SG
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NIO (NYSE: NIO) will continue to allow its car owners unlimited free access to battery swap stations along highways in China for the upcoming golden week, following a similar campaign earlier this year.
For the upcoming Labor Day holiday, all NIO owners will have unlimited free access to battery swap stations along highways, the electric vehicle (EV) maker announced today on its mobile app.
The Labor Day holiday in China runs from April 29 to May 3 this year, and NIO owners will have free access to these battery swap stations from April 28 to May 4, although vehicles used for operations are excluded.
Most NIO owners currently have the benefit of four to six free battery swaps per month, with a few early adopters having unlimited access to the service.
The benefits NIO is offering for the upcoming holiday season are in addition to the benefits owners already have.
The company offered similar benefits during the Chinese New Year holiday earlier this year, allowing for a spike in the number of services offered at its battery swap stations.
NIO offered free access to battery swap stations from January 13 to February 5 during this year's Chinese New Year holiday, which ran from January 21 to January 27.
On January 27, NIO's battery swap stations reached an all-time high of 62,356 services in a single day, according to its previously announced data.
The free battery swap service provided during the Chinese New Year holiday did not put additional cost pressure on NIO, as the revenue generated by its charging stations at the time largely covered those costs, the company said at a media briefing in early February.
As of April 25, NIO had 1,369 battery swap stations in China, including 362 along highways, according to data monitored by CnEVPost.
The company also has 2,512 charging stations in China, providing 14,903 charging piles.
NIO's goal is to add 1,000 battery swap stations this year, bringing the number of facilities to 2,300 by the end of 2023.
NIO provides nearly 1 million battery swap services in half month around Chinese New Year holiday
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NIO ES7 wait time reduced to about 3 weeks
The wait information for the NIO ES7 last changed on April 17, when it went from about 2 weeks to 3-5 weeks.
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The wait time for the NIO (NYSE: NIO) ES7 in China has been slightly shortened, with that information for the SUV becoming longer a week ago.
For consumers currently locking in orders for the ES7, delivery is expected in about 3 weeks, information from the NIO App monitored by CnEVPost shows.
The last change in the wait information for the NIO ES7 was on April 17, when it went from about 2 weeks to 3-5 weeks.
(Screenshot on April 25.)
NIO's website and app currently showcase 7 models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, ET5.
All are new models based on the NT 2.0 platform, except for the EC6, which is an older model based on the NT 1.0 platform.
In the vehicle configurator of NIO App, only five models are available -- the new ES8, ES7, EC7, ET7, ET5, while the configurator of the new ES6 and the EC6 based on NT 1.0 platform is not available.
On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7 and unveiled the new ES6. The price of the new ET7 is the same as the previously available version, while the price of the new ES6 was not announced.
On April 21, the NIO App saw major changes to the vehicle configurator, with the ET7's wait times starting to be displayed again.
Except for the ES7, wait times for all other NIO models are unchanged today -- deliveries of the new ES8 are expected to begin in June, wait times for both the EC7 and ET7 are about 4 weeks, and for the ET5 is about 2 weeks.
NIO delivered 10,378 vehicles in March, up 3.94 percent from 9,985 units a year ago but down 14.6 percent from 12,157 units in February.
As of March 31, cumulative deliveries of NIO vehicles reached 320,597 units.
NIO's battery swap network completes initial coverage of Beijing-Taipei highway
Changes in wait times for NIO models
| Date | Model | Prev | Change | Latest |
|---|---|---|---|---|
| 04/25/23 | ES7 (NT 2.0) | 3-5 weeks | ↓ | About 3 weeks |
| 04/21/23 | ET7 (NT 2.0) | NA | NA | About 4 weeks |
| 04/21/23 | EC7 (NT 2.0) | Mid May | NA | About 4 weeks |
| 04/17/23 | ES7 (NT 2.0) | About 2 weeks | ↑ | 3-5 weeks |
| 04/14/23 | ES6 (NT 1.0) | About 2 weeks | NA | Stop showing |
| 04/10/23 | ET5 (NT 2.0) | About 3 weeks | ↓ | About 2 weeks |
| 04/10/23 | ES7 (NT 2.0) | About 3 weeks | ↓ | About 2 weeks |
| 03/28/23 | ET5 (NT 2.0) | 3-4 weeks | ↓ | About 3 weeks |
| 03/28/23 | ES7 (NT 2.0) | 4-6 weeks | ↓ | About 3 weeks |
| 03/14/23 | ET5 (NT 2.0) | 2-3 weeks | ↑ | 3-4 weeks |
| 03/14/23 | ES7 (NT 2.0) | About 3 weeks | ↑ | 4-6 weeks |
| 03/13/23 | ET7 (NT 2.0) | About 3 weeks | NA | Stop showing |
| 02/14/23 | ES7 (NT 2.0) | 3-4 weeks | ↓ | About 3 weeks |
| 02/14/23 | ET7 (NT 2.0) | 3-4 weeks | ↓ | About 3 weeks |
| 02/14/23 | ET5 (NT 2.0) | About 3 weeks | ↓ | 2-3 weeks |
| 02/6/23 | ET5 (NT 2.0) | 3-4 weeks | ↓ | About 3 weeks |
| 01/28/23 | ES7 (NT 2.0) | 2-3 weeks | ↑ | 3-4 weeks |
| 01/28/23 | ET7 (NT 2.0) | 2-3 weeks | ↑ | 3-4 weeks |
| 01/28/23 | ET5 (NT 2.0) | 7-9 weeks | ↓ | 3-4 weeks |
| 01/11/23 | ET5 (NT 2.0) | 8-10 weeks | ↓ | 7-9 weeks |
| 01/5/23 | ET5 (NT 2.0) | 9-11 weeks | ↓ | 8-10 weeks |
| 12/29/22 | ET5 (NT 2.0) | 10-12 weeks | ↓ | 9-11 weeks |
| 12/22/22 | ET5 (NT 2.0) | 12-14 weeks | ↓ | 10-12 weeks |
| 12/20/22 | ES7 (NT 2.0) | 4-6 weeks | ↓ | 2-3 weeks |
| 12/13/22 | ET5 (NT 2.0) | 13-15 weeks | ↓ | 12-14 weeks |
| 12/13/22 | ET7 (NT 2.0) | About 2 weeks | ↑ | 2-3 weeks |
| 12/13/22 | EC6 (NT 1.0) | About 2 weeks | NA | Stop showing |
| 12/2/22 | ET5 (NT 2.0) | 21-23 weeks | ↓ | 13-15 weeks |
| 11/25/22 | ES7 (NT 2.0) | 7-9 weeks | ↓ | 4-6 weeks |
| 11/25/22 | ET7 (NT 2.0) | 3-5 weeks | ↓ | About 2 weeks |
| 11/23/22 | ES8 (NT 1.0) | About 2 weeks | NA | Stop showing |
| 11/16/22 | ET7 (NT 2.0) | 4-6 weeks | ↓ | 3-5 weeks |
| 11/10/22 | ES8 (NT 1.0) | 2-3 weeks | ↓ | About 2 weeks |
| 11/10/22 | ES6 (NT 1.0) | 2-3 weeks | ↓ | About 2 weeks |
| 11/10/22 | EC6 (NT 1.0) | 2-3 weeks | ↓ | About 2 weeks |
| 11/3/22 | ES7 (NT 2.0) | 11-13 weeks | ↓ | 7-9 weeks |
| 11/3/22 | ET7 (NT 2.0) | 6-8 weeks | ↓ | 4-6 weeks |
| 11/3/22 | ES8 (NT 1.0) | 2-4 weeks | ↓ | 2-3 weeks |
| 11/3/22 | ES6 (NT 1.0) | 2-4 weeks | ↓ | 2-3 weeks |
| 11/3/22 | EC6 (NT 1.0) | 2-4 weeks | ↓ | 2-3 weeks |
| 10/31/22 | ES7 (NT 2.0) | 12-14 weeks | ↓ | 11-13 weeks |
| 10/31/22 | ES8 (NT 1.0) | 3-5 weeks | ↓ | 2-4 weeks |
| 10/31/22 | ES6 (NT 1.0) | 3-5 weeks | ↓ | 2-4 weeks |
| 10/31/22 | EC6 (NT 1.0) | 3-5 weeks | ↓ | 2-4 weeks |
| 10/21/22 | ES7 (NT 2.0) | 13-15 weeks | ↓ | 12-14 weeks |
| 10/21/22 | ET7 (NT 2.0) | 11-13 weeks | ↓ | 6-8 weeks |
| 10/21/22 | ET5 (NT 2.0) | 21-23 weeks | NA | Stop showing |
| 10/21/22 | ES8 (NT 1.0) | 4-6 weeks | ↓ | 3-5 weeks |
| 10/21/22 | ES6 (NT 1.0) | 4-6 weeks | ↓ | 3-5 weeks |
| 10/21/22 | EC6 (NT 1.0) | 4-6 weeks | ↓ | 3-5 weeks |
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Tesla opens its Supercharger network in China to other brands of EVs on pilot basis
Tesla is initially opening 10 Supercharger stations in the Chinese mainland for 37 non-Tesla models.
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Tesla announced today that it is opening its Supercharger network in the Chinese mainland on a pilot basis to other brands of electric vehicles (EVs), following its practice in more than 10 other markets.
The EV maker is initially opening 10 Supercharger stations for 37 non-Tesla models, according to an announcement it posted on WeChat.
Notably, the pilot is currently limited to Beijing and Shanghai, with each city offering five Supercharger stations to participate in the pilot.
The 37 non-Tesla models include the NIO ES6, NIO EC6, XPeng P7, Li Auto Li ONE, Zeekr 001, BYD Han EV, BYD Tang EV, and Polestar 2.
In addition to the Supercharger stations, Tesla has opened 120 destination charging stations on a pilot basis, covering 25 provinces and cities in the Chinese mainland.
To date, Tesla has more than 1,600 Supercharger stations in the Chinese mainland, offering more than 10,000 Superchargers, according to the announcement.
It also has more than 700 destination charging stations in the Chinese mainland, offering more than 2,000 charging piles.
At the end of 2021, Tesla opened its charging network to non-Tesla vehicles on a pilot basis in Europe, and the service is now available to owners in more than 10 countries and regions worldwide, the company said.
Now, owners of non-Tesla-branded EVs in the Chinese mainland can also enjoy an efficient, convenient and dense Tesla charging network, it said.
Tesla hopes its open and innovative business logic will bring together more industry partners to accelerate the world's transition to sustainable energy, it added.
Tesla prices: Here's how Model 3 and Model Y compare in China vs other markets
First 37 non-Tesla models that can use Tesla Superchargers in Chinese mainland
| Brand | Model |
|---|---|
| Aiways | U5 |
| BMW | i3, iX, iX3 |
| Porsche | Taycan |
| Mercedes-Benz | EQC |
| BYD | Han EV, Tang EV |
| Great Wall Ora | Good Cat |
| Dongfeng Aeolus | E70 |
| Dongfeng Nissan | Sylphy |
| Ford Mustang | Mach-E |
| HiPhi | HiPhi X |
| GAC Aion | LX |
| GAC Toyota | C-HR EV |
| Hozon | Neta U |
| Geely | Emgrand Gse, Geometry A, Geometry C |
| Zeekr | Zeekr 001 |
| Polestar | Polestar 2 |
| Jaguar Land Rover | I-Pace, Range Rover PHEV |
| Seres | SF5 |
| Li Auto | Li ONE |
| Leapmotor | C11 |
| AITO | M5 |
| SAIC | Marvel R |
| FAW Volkswagen | ID.4 Crozz |
| WM Motor | EX5 |
| NIO | EC6, ES6 |
| Volvo | XC40 |
| XPeng | P7 |
| FAW-Audi | e-tron |
| FAW Toyota | IZOA E |
| FAW Hongqi | E-HS9 |
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Chrysler Reportedly Teases Electric Sedan To Dealers, Likely 300 Replacement
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Volkswagen All-Electric Car Sales Reached 70,000 In Q1 2023
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SAE Releases New Standards Document For Safe Battery Storage
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