Smart and Sustainable Electric Mobility
NIO co-founder and president Qin Lihong was on-site for the opening of that NIO House.
NIO (NYSE: NIO) today opened its second NIO House in Germany, as it steadily moves forward with its efforts to tap the European market.
The new NIO House is centrally located in Frankfurt's Groβe Eschenheimer StraBe, between the traditional old town and the city's business district, according to information shared by the European version of the NIO App.
Opposite this NIO House is the Eschenheimer Tor square with the Eschenheimer Tower, a Frankfurt landmark.
The showroom offers relaxation, culture, enjoyment, knowledge and business functions under one roof of more than 1,600 square meters.
Users can see current NIO models in the gallery, experience living room concerts with musicians from all over Germany, or participate in forums.
NIO co-founder and president Qin Lihong was present for the opening of the NIO House, according to information shared by the company's source.
The NIO House is open from Monday to Saturday from 10:00 to 19:00.
NIO Houses is the flagship showroom of NIO, and the company's showrooms in China also include the smaller NIO Spaces.
NIO House is much more than just a space to display and sell vehicles, it is a space for NIO to provide owners with a quality lifestyle.
On October 1, 2021, NIO opened its first NIO House in Norway, its first such facility in Europe.
On December 16, 2022, the company opens its first NIO House in Germany, located on Kurfurstendamm in Berlin.
NIO Germany General Manager Ralph Kranz introduces now the different areas of the #NIOHouseFrankfurt to the audience.
pic.twitter.com/uUan2J37R0
— Afonso (@AfonsoEV_) March 30, 2023
Immediately following the opening of NIO's NIO House in Frankfurt, the company will begin deliveries of the ET5 sedan in Germany on Friday.
March 31 is the official delivery date for the NIO ET5 in Germany, and NIO is using it as an opportunity to launch the ET5 first mover campaign, in which the first consumers to receive a NIO ET5 delivery will get special equipment worth 1,800 euros for free, according to an article in the European version of the NIO App yesterday.
Here are more pictures of the NIO House in Frankfurt shared by NIO App.
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In 2023, BYD sold 1.85 million vehicles - increase of 151%. In 2023 it plans to double the sales again to 3.6 million.
The post BYD made a profit of 2.4 billion USD in 2022, up 403%. Aims to sell 3.6 million electric cars in 2023 appeared first on CarNewsChina.com.
The Landian E5 is a mid-size plug-in hybrid SUV with a starting price of RMB 139,900.
Chinese tech giant Huawei's key partner in the automotive sector, Seres Group, has launched another new energy vehicle (NEV) brand to increase its bets in the sector.
Seres today officially unveiled the Landian (蓝电) brand and made its first model, the plug-in hybrid E5, available with technology from Huawei and BYD, according to an online launch event.
Landian literally means blue electricity in Chinese. The brand is positioned as a builder of the Internet of Everything ecosystem in the "E era", where the letter E refers to Electric.
By 2023, the Landian brand will build 340 experience stores and 160 delivery centers, Seres said.
The Landian E5 is a mid-size SUV, available in five- and seven-seat versions. It measures 4,760 mm in length, 1,865 mm in width and 1,710 mm in height, and has a wheelbase of 2,785 mm.
The car is available in two versions with starting prices of RMB 139,900 ($20,330) and RMB 151,900 respectively.
The Landian E5 is powered by Seres' DE-i electric drive platform, which uses the F31A 1.5L PHEV-specific engine and DHT300 electric hybrid system from BYD's FinDreams Power.
The engine has a maximum power of 81 kW and a maximum torque of 135 Nm, while the electric motor has a maximum power of 130 kW and a maximum torque of 300 Nm. It can accelerate from 0 to 100 km/h in 7.4 seconds.
The car has an NEDC range of 100 km, 110 km on battery power and a combined WLTC range of 1,150 km on full fuel and full charge.
The Landian E5 is equipped with Huawei's HiCar 3.0 system, a lite version of HarmonyOS for cars, but supports features including seamless connectivity with cell phones.
Chongqing-based Seres Group was renamed from Chongqing Sokon Industrial Group in July 2022. It is Huawei's most important partner in the automotive industry to date.
Huawei announced on April 20, 2021 that the company officially started selling cars, with the Seres SF5 from the Seres Group's Seres brand being the first model to enter its channels.
The Seres brand announced the launch of a premium NEV brand called AITO with Huawei on December 2, 2021, and has already launched models including the M5 and M7.
Seres Group sold 12,773 vehicles in February, including 6,577 NEVs, according to figures it announced earlier this month.
On February 25, the Seres brand and Huawei signed an agreement on deepening their joint business, which will see the two jointly launch a new vehicle platform, the first flagship model of which is scheduled for release in 2023.
Seres unveiled aggressive plans at the time, saying the joint business aims to see annual sales of NEVs reach 1 million units by 2026.
($1 = RMB 6.8813)
Seres, Huawei sign deal on joint business, aim to sell 1 million NEVs by 2026
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For an EV with a 70-kWh pack, the cost of the battery is now RMB 12,300 - RMB 14,500 lower than when lithium carbonate prices were at their previous high, analysts say.
Falling lithium carbonate prices are known to benefit the profitability of electric vehicle (EV) makers. So how will this price change affect the cost of EVs? A new research note provides a good analysis.
An EV powered by a lithium iron phosphate (LFP) battery typically uses 30-40 kilograms of lithium carbonate, while an EV with a ternary lithium battery consumes 50-70 kilograms of the material, said Haitong International Securities analyst Yang Bin's team in a research note today.
When the price of lithium carbonate drops by RMB 100,000 ($14,540) per ton, the cost of ternary lithium batteries and LFP batteries will see marginal decreases of RMB 60 to RMB 70 per kWh, respectively, the team's calculations show.
In this case, the battery cost would be RMB 4,200 to RMB 4,900 lower for an all-electric vehicle with a 70-kWh battery capacity.
This means that the current battery cost of an all-electric vehicle with a 70-kWh battery capacity is already RMB 12,300 - RMB 14,500 lower than when lithium carbonate prices were at their previous high, the team said.
As a backdrop, lithium carbonate prices have never seen a single day of gains in China this year and continue to fall by several thousand RMB today, according to data from Mysteel.
The average price of battery-grade lithium carbonate per ton in China fell by RMB 7,500 to RMB 256,500 today, down about 57 percent from RMB 590,000,000 last November. The average price of industrial grade lithium carbonate per ton also fell by RMB 7,500 to RMB 210,000 today.
Falling battery costs will drive down the overall cost of EVs, which will allow automakers to see their gross margins repair, according to Haitong's research note.
However, the team also noted that in the long run, automakers need to achieve technology upgrades, reduce costs and improve competitiveness in order to capture sufficient market share and profitability, considering EV penetration is already high in China.
With lower lithium carbonate prices, EV makers will have more room for pricing as they gain greater profit margins, the team said, adding that this is expected to allow them to gain greater market share by cutting prices.
Although the price of lithium carbonate has fallen by more than half from its high a few months ago, the team believes there is still room to fall.
In 2022, China's lithium resource supply was 727,000 tons and demand was 796,000 tons, the team said.
In 2023, China's lithium resource supply is expected to reach 1.088 million tons and demand is expected to be 1.034 million tons, according to the team.
With the supply of lithium resources outstripping demand, there is still room for lithium carbonate prices to fall, with the price of battery grade lithium carbonate expected to fall to around RMB 200,000 per ton by the end of 2023, the team said.
($1 = RMB 6.8772)
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CATL's share in January-February was the same as in January, while BYD saw its share rise.
CATL and BYD remained the top two players in the global EV battery market in the first two months, with the former's share remaining stable and the latter rising.
In January and February, the total battery consumption of EVs registered in each country was about 75.2 GWh, up 39.0 percent from the previous year, according to data released today by South Korean market research firm SNE Research.
CATL's battery installed base in January-February was 25.5 GWh, up 34 percent from 19.0 GWh in the same period last year.
The Chinese battery giant continues to rank first with a 33.9 percent share, the only global battery maker with a share of more than 30 percent.
CATL's share in January-February was the same as in January, but down 1.2 percentage points from 35.1 percent a year ago.
CATL's batteries are in high demand in passenger cars, including Tesla Model 3, Model Y, SAIC's Mulan, NIO ET5 and the Chinese commercial vehicle market, and is expected to maintain its No. 1 position, SNE Research said.
BYD installed 13.7 GWh of power batteries in January-February, up 122.6 percent from 6.1 GWh in the same period last year.
The company ranked second with 18.2 percent market share in the first two months, up from 11.3 percent in the same period last year and up from 17.6 percent in January.
BYD is gaining traction in China's domestic market with its competitive pricing by establishing a vertically integrated supply chain management, including self-supply of batteries and vehicle manufacturing, SNE Research said.
LG Energy Solution saw a 51.9 percent year-on-year increase in power battery installed base of 10.0 GWh in January-February.
The South Korean company ranked third in the world with a 13.3 percent share, up from 12.2 percent a year earlier.
Japan's Panasonic ranked fourth with a 10.4 percent share, South Korea's SK On was fifth with 5.5 percent and Samsung SDI was sixth with 4.9 percent.
China's CALB, Gotion High-tech, Eve Energy and Sunwoda ranked seventh, eighth, ninth and tenth respectively, with shares of 3.4 percent, 2.0 percent, 1.8 percent and 1.4 percent respectively in January-February.
CATL's share in global EV battery market slips in Jan, BYD rises
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Price war has been the most talked about topic in China's auto industry this month, and the imminent implementation of a new emissions standard is seen as a major factor.
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The imminent implementation of a new emissions standard in three months is seen as a major factor behind the price war launched by internal combustion engine (ICE) automakers this month. Now, these automakers may be able to get some respite.
China's policy on extending the sales period for vehicles built to the 6a emissions standard may be announced soon, National Business Daily reported today, citing Shen Jinjun, president of the China Auto Dealers Association (CADA), as saying at a forum.
A government document on the switch to the China 6b standard and the extension of the sales period for 6a-compliant models will be released soon, Shen said, without revealing any more information.
China released the final rule for stage 6 light vehicle emission limits and measurement methods (China 6 standard) in December 2016, a new standard that combines best practices from European and US regulatory requirements.
The standard is being implemented in two phases, with the 6a standard already taking effect on July 1, 2020, and the 6b standard coming into effect on July 1, 2023.
During this month, price war has been the most talked about topic in the Chinese auto industry, and the upcoming entry into force of the 6b standard is seen as an important factor.
There are still some older models on the market that do not meet China 6b emissions regulations, and the de-stocking of these models could have an impact on production, sales and prices in the auto industry, a team from CITIC Securities said in a March 13 research note.
In early March, authorities in Hubei province joined forces with many local car companies to offer subsidies to consumers for car purchases, with some models being subsidized by as much as 90,000 yuan ($13,060). This was seen as the beginning of the massive outbreak of the price war.
Subsequently, several brands, including Volkswagen and BMW, announced similar large discounts. At the same time, some car companies made it clear that they would not participate in the price war, trying to dispel the wait-and-see sentiment of potential consumers.
The price war has had an unprecedented impact on China's auto industry, and on March 22, the China Association of Automobile Manufacturers (CAAM) called on all parties to return to rationality and bring order to the market.
On March 23, China's Auto Dealers Chamber of Commerce (CADCC) called on regulators to delay the implementation of the China 6b emissions standard.
Since the beginning of the year, the CADCC has received feedback from many auto dealer groups that they are under significant pressure to survive because of the impending full implementation of the China 6b emissions standard.
A study covering nearly 100 auto dealer groups showed that nearly 98.89 percent of them strongly recommended that China delay the implementation of the China 6b emissions standard until January 1, 2024, according to the CADCC.
These dealer groups suggest that regulators allow sufficient switchover time for car companies and dealers to deal with the existing inventory of vehicles that do not meet the China 6b emissions standard.
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China's transition to new emission standard: How will this affect auto market?
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