Smart and Sustainable Electric Mobility
By the numbers, the 2023 Hyundai Ioniq 6 electric sedan outpaces the Tesla Model 3, improves on the related Hyundai Ioniq 5, and matches the Lucid Air as the most efficient electric car on sale in the U.S. In the data age where we are ruled by algorithms, the favorable numeric data of the Ioniq 6 is impressive. Yet Hyundai’s latest sedan is... By the numbers, the 2023 Hyundai Ioniq 6 electric sedan outpaces the Tesla Model 3, improves on the related Hyundai Ioniq 5, and matches the Lucid Air as the most efficient electric car on sale in the U.S. In the data age where we are ruled by algorithms, the favorable numeric data of the Ioniq 6 is impressive. Yet Hyundai’s latest sedan is... Update: Added more pictures about G6 shared by XPeng.
XPeng management previously said that the G6 will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter, with a price range of RMB 200,000 - 300,000. | XPeng US | XPeng HK
XPeng (NYSE: XPEV) is starting to warm up for the G6, with the new model set to make its official debut at the Shanghai auto show in half a month.
The electric vehicle (EV) maker shared a "spy shot" of the G6 on April 3, showing the SUV's exterior but not revealing any other information.
On April 4, XPeng shared three additional images of the G6.
On March 17, XPeng management said during the company's fourth-quarter earnings call that the G6, a new energy SUV in the price range of 200,000 yuan ($29,020) to 300,000 yuan, will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter.
The upcoming biennial Shanghai auto show will be held from April 18 - 27, with April 18 - 19 being the media days, April 20 - 21 being the professional visitors' days, and the general public being admitted from April 22 - 27.
XPeng's monthly sales target for the G6 is 2-3 times that of the P7, He Xiaopeng, the company's chairman and CEO, said on the call.
The G6's range will be significantly improved and will exceed expectations, and the interior space will be much larger than similar offerings from competitors, he said.
Earlier this month, the XPeng G6 appeared on a regulatory filing list in China, where its core specifications were disclosed.
The XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, according to those filing pages.
The G6 will compete with Tesla's (NASDAQ: TSLA) Model Y, XPeng management previously mentioned. The Tesla crossover 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 XPeng G6 will be available in single-motor and dual-motor versions, the former with a 218 kW peak power motor and the latter with an additional motor with 140 kW peak power.
The upcoming G6 will be the swing factor and the model will need to be successful to make XPeng truly relevant in the market again, said Deutsche Bank analyst Edison Yu's team in a research note sent to investors on March 22.
XPeng's monthly sales target for the G6 is two to three times that of the P7, meaning at least 5,000 units per month for the G6 based on a trailing six-month average, Yu's team noted.
XPeng may price the G6 similarly to the Tesla Model Y, hoping to attract consumers with its sleeker design and updated interior, the team said.
($1 = 6.8928 RMB)
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Tesla's first-quarter deliveries were higher than BYD's 264,647 passenger BEVs, but lower than the latter's 552,076 NEVs, including PHEVs.
Tesla saw record electric vehicle (EV) deliveries in the first quarter, as price cuts reinvigorated demand.
The US EV maker delivered 422,875 units worldwide in the first quarter, up 36.39 percent from 310,048 units a year earlier and up 4.34 percent from 405,278 in the fourth quarter, according to its announcement on April 2.
The deliveries exceeded Wall Street analysts' expectations of 421,200 units, with Tesla's cheaper Model 3 with Model Y deliveries exceeding expectations.
Tesla delivered 412,180 Model 3 and Model Y units worldwide in the first quarter, above market expectations of 408,500. A total of 10,695 Model S and Model X units were delivered, below expectations of 16,700.
Tesla produced 440,808 vehicles in the first quarter, including 421,371 Model 3 and Model Y, and 19,437 Model S and Model X.
"We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC," Tesla wrote in an announcement.
The company will announce its first-quarter financial results after the market closes on Wednesday, April 19, and its management will hold a live webcast question-and-answer session at 4:30 pm US Central Time that day.
Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after its move in China on January 6.
In China, Tesla has a factory in Shanghai that makes the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.
Tesla does not publish its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.
Tesla's deliveries in China in January and February were 26,843 and 33,923 units, respectively, and its Shanghai plant exported 39,208 and 40,479 units in the two months, according to the CPCA. March figures are expected to be available in the next few days.
BYD (OTCMKTS: BYDDY) and Tesla are the two biggest players in China's new energy vehicle (NEV) market, with the former producing plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs) and the latter producing only BEVs.
Tesla delivered more BEVs than BYD in the first quarter, but the latter's combined sales of PHEVs and BEVs were larger.
In the first quarter, BYD's NEV sales, including PHEVs and BEVs, were 552,076 units, up 92.81 percent year-on-year but down 19.22 percent from the fourth quarter of last year, according to data released yesterday.
BYD's passenger BEVs sold 264,647 units in the first quarter, up 84.78 percent year-on-year but down 19.56 percent from the fourth quarter.
BYD's passenger PHEVs sold 283,270 units in the first quarter, up 100.17 percent year-on-year but down 19.76 percent from the fourth quarter.
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