Category: eV

XPeng Q4 revenue misses estimates, gross margin falls to single digit

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

reported revenue of RMB 5.14 billion in the fourth quarter, below market expectations of RMB 5.732 billion.

This represents a 39.95 percent year-on-year decline and a 24.63 percent decline from the third quarter.

XPeng generated RMB 4.66 billion of automotive sales revenue in the fourth quarter, down 43.1 percent from the same period in 2021 and down 25.3 percent from the third quarter of 2022.

It reported a gross margin of 8.7 percent in the fourth quarter compared to 12.0 percent in the same period of 2021 and 13.5 percent in the third quarter of 2022.

It had an automotive margin of 5.7 percent in the fourth quarter compared to 10.9 percent in the same period in 2021 and 11.6 percent in the third quarter of 2022. For the full year, the auto margin was 9.4 percent, compared to 11.5 percent in 2021.

The company reported a net loss of RMB 2.36 billion in the fourth quarter, compared to market expectations of a loss of RMB 2.076 billion and a loss of RMB 1.29 billion in the same period last year.

XPeng expects first-quarter vehicle deliveries to be in the range of 18,000 to 19,000 units, a decrease of about 45.0 percent to 47.9 percent year-on-year.

The company expects total revenue for the first quarter to range from RMB4.0 billion to RMB4.2 billion, a decrease of about 43.7 percent to 46.3 percent year-on-year.

XPeng delivered 22,204 vehicles in the fourth quarter, above the upper end of the previously provided guidance range of 20,000 to 21,000, but down 46.82 percent year-on-year and down 24.91 percent from the third quarter.

XPeng's previous revenue guidance for the fourth quarter was RMB 4.8 billion to RMB 5.1 billion, representing a decrease of about 40.4 percent to 43.9 percent year-on-year.

XPeng earnings preview: Q4 to be soft with promotions hitting margins

The post XPeng Q4 revenue misses estimates, gross margin falls to single digit appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Polestar 3 officially unveiled in China, price cut by about $29,080 from previous

Polestar has officially unveiled the Polestar 3 in China today with what it calls a new pricing system.  |  Polestar.US

The first SUV from Polestar, the premium electric vehicle maker owned by and Volvo Cars, has been officially unveiled in China, but at a price reduction of about RMB 200,000 yuan ($29,080) from the model's global debut last year.

Polestar officially introduced the Polestar 3 in China today and announced what it calls a new pricing system, with the long-range dual-motor model starting at RMB 698,000 and the long-range dual-motor with performance pack model at RMB 798,000.

The Polestar 3 is Polestar's first SUV and will be the electric vehicle company's first all-electric model that will be produced in both China and the US.

Polestar gave the Polestar 3 SUV its global debut on October 12, 2022, when it announced its two versions with starting prices in China of RMB 880,000 and RMB 1,030,000, respectively.

The latest prices announced today mean that the starting price for the Polestar 3 regular long-range version has been reduced by RMB 182,000 and the starting price for the performance version has been reduced by RMB 232,000.

Information on Polestar China's website indicates that the expected delivery dates for both versions of the Polestar 3 are the fourth quarter of this year.

The Polestar 3 will be on display at the Shanghai auto show next month, and the model will go into production at Polestar's plant in Chengdu, Sichuan province, in the middle of this year, Polestar said today.

The 20th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2023) will be held from April 18-27, with media days from April 18-19 and professional visitor days from April 20-21, while the general public can visit from April 22-27.

Production is also expected to begin by mid-2024 at Polestar's plant in Ridgeville, South Carolina, the automaker said when it unveiled the Polestar 3 last year.

At that point, the US will serve as the main supply location for North America and other markets. The plant is expected to make its first deliveries in mid-2024.

Polestar was co-founded by Volvo and Geely in 2017, and the first product, the Polestar 1, was only available in limited quantities and has been discontinued.

The Polestar 2, which started deliveries in 2020, is the brand's first real production model on sale and will only be produced at a plant in Taizhou, Zhejiang province, in eastern China.

Despite the Polestar 3's strong performance and configuration, its prices in China appear to be very high, as noted in a previous report by CnEVPost.

The Polestar 3's previous starting price of RMB 880,000 is almost twice the NIO ES7's starting price of RMB 468,000.

Both versions of the ES7 have a 0-100 km/h sprint time of 3.9 seconds, while the Polestar 3 performance version has the figure at 4.7 seconds and the long-range version at 5 seconds.

($1 = RMB 6.8783)

Polestar 3 SUV officially unveiled, but prices may drive away Chinese consumers

The post Polestar 3 officially unveiled in China, price cut by about $29,080 from previous appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Polestar 3 officially unveiled in China, price cut by about $29,080 from previous

Polestar has officially unveiled the Polestar 3 in China today with what it calls a new pricing system.  |  Polestar.US

The first SUV from Polestar, the premium electric vehicle maker owned by and Volvo Cars, has been officially unveiled in China, but at a price reduction of about RMB 200,000 yuan ($29,080) from the model's global debut last year.

Polestar officially introduced the Polestar 3 in China today and announced what it calls a new pricing system, with the long-range dual-motor model starting at RMB 698,000 and the long-range dual-motor with performance pack model at RMB 798,000.

The Polestar 3 is Polestar's first SUV and will be the electric vehicle company's first all-electric model that will be produced in both China and the US.

Polestar gave the Polestar 3 SUV its global debut on October 12, 2022, when it announced its two versions with starting prices in China of RMB 880,000 and RMB 1,030,000, respectively.

The latest prices announced today mean that the starting price for the Polestar 3 regular long-range version has been reduced by RMB 182,000 and the starting price for the performance version has been reduced by RMB 232,000.

Information on Polestar China's website indicates that the expected delivery dates for both versions of the Polestar 3 are the fourth quarter of this year.

The Polestar 3 will be on display at the Shanghai auto show next month, and the model will go into production at Polestar's plant in Chengdu, Sichuan province, in the middle of this year, Polestar said today.

The 20th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2023) will be held from April 18-27, with media days from April 18-19 and professional visitor days from April 20-21, while the general public can visit from April 22-27.

Production is also expected to begin by mid-2024 at Polestar's plant in Ridgeville, South Carolina, the automaker said when it unveiled the Polestar 3 last year.

At that point, the US will serve as the main supply location for North America and other markets. The plant is expected to make its first deliveries in mid-2024.

Polestar was co-founded by Volvo and Geely in 2017, and the first product, the Polestar 1, was only available in limited quantities and has been discontinued.

The Polestar 2, which started deliveries in 2020, is the brand's first real production model on sale and will only be produced at a plant in Taizhou, Zhejiang province, in eastern China.

Despite the Polestar 3's strong performance and configuration, its prices in China appear to be very high, as noted in a previous report by CnEVPost.

The Polestar 3's previous starting price of RMB 880,000 is almost twice the NIO ES7's starting price of RMB 468,000.

Both versions of the ES7 have a 0-100 km/h sprint time of 3.9 seconds, while the Polestar 3 performance version has the figure at 4.7 seconds and the long-range version at 5 seconds.

($1 = RMB 6.8783)

Polestar 3 SUV officially unveiled, but prices may drive away Chinese consumers

The post Polestar 3 officially unveiled in China, price cut by about $29,080 from previous appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Vlogger ordered to apologize and pay damages to NIO for spreading false info

The vlogger was ordered to publish an apology on his channel and pay financial damages of RMB 80,000 yuan ($11,640).  |  NIO US | NIO HK | NIO SG

(Image credit: CnEVPost)

NIO (NYSE: NIO) has won a lawsuit involving reputation infringement in China, in one of the company's rare tough moves.

Laotan Shuoche (literally, Mr. Tan talks about cars), a vlogger on the short-video platform Douyin, was ruled to have infringed on NIO's reputation and was required to publish an apology on his channel and pay financial damages of RMB 80,000 yuan ($11,640).

The vlogger had called NIO's vehicles uncontrolled "wild horses" on his channel and blamed an accident on the quality of NIO's vehicle, even though traffic police authorities had confirmed that the accident was caused by the driver's mishandling, several local media said, citing a verdict.

The vlogger spliced multiple unverified collision videos to cause damage to NIO's reputation by distorting the facts while gaining viewers, according to the verdict, which is final.

Last February, an NIO vehicle was rear-ended on a highway in Jinhua, Zhejiang province in eastern China, and eventually crashed into three other vehicles before coming to a stop after driving forward for about 2 kilometers.

Laotan has apologized to NIO by posting a video on his Douyin account, which showed that he posted the video on the accident on February 16, 2022.

In China, NIO has always been seen as showing caution and restraint in dealing with similar issues, rather than being as aggressive as .

A few years ago, a video by a blogger criticizing NIO gained high attention. However, his video was not seen as an infringement of NIO's reputation, and he himself became one of the earliest owners of the ET7.

On June 30, 2022, car blogger @一个菜两个菜, who has more than 1 million followers on Weibo, said he purchased an ET7, a model that only started to be delivered at the end of March last year.

The blogger claimed in a video posted on January 28, 2019, that there is no future for NIO and explained his view in detail.

He claimed in the video at the time that NIO was playing a game of quick money through the capital markets and was not capable of building cars.

($1= RMB 6.8707)

Blogger who said NIO had no future three years ago becomes one of the first ET7 owners

The post Vlogger ordered to apologize and pay damages to NIO for spreading false info appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Baidu’s robotaxi platform Apollo Go gets permit to offer fully driverless rides in Beijing

To date, Baidu's Apollo Go has been offering fully driverless ride-hailing services in Beijing, Wuhan and Chongqing.  | Baidu.US | Baidu.HK

(Image credit: Baidu)

Baidu's ride-hailing service platform Apollo Go has won a permit to offer fully driverless rides in Beijing, allowing it to expand the service to three Chinese megacities.

The search engine giant announced the development today, saying it is the first provider of fully driverless robotaxi services in the capital city of any country worldwide. Apollo Go has previously been approved to offer the service in Wuhan and Chongqing.

Baidu Apollo will deploy a total of 10 fully driverless vehicles in Beijing's Yizhuang Economic Development Zone, according to a press release from the company.

Apollo Go is currently providing an average of more than 20 rides per vehicle per day within the area, exceeding the average number of rides taken by traditional online ride-hailing services, Baidu said.

Yizhuang is one of the active hubs for autonomous driving in China. Beijing plans to expand its high-level automated demonstration area in the Yizhuang Economic Development Zone from the existing 60 square kilometers to an eventual 500 square kilometers.

Baidu has been developing autonomous driving technology since 2013 and has accumulated more than 50 million kilometers of testing in Level 4 autonomous driving.

As of the end of January, Apollo Go offered more than 2 million cumulative rides to the public, Baidu said.

In the fourth quarter of 2022, Apollo Go provided 561,000 rides to the public, up 162 percent year-on-year, according to Baidu's fourth-quarter earnings report.

On November 29 last year, Baidu announced that it plans to scale up Apollo's operations in 2023 with fully unmanned self-driving operations in more regions.

Baidu will build the world's largest fully driverless taxi service area in 2023, maintaining its growth momentum as the world's largest robot cab provider, the company said at the time.

Baidu previously announced plans to expand its self-driving mobility service to 65 cities by 2025 and 100 cities by 2030.

Baidu plans to put 200 additional driverless vehicles into operation in 2023

The post Baidu's robotaxi platform Apollo Go gets permit to offer fully driverless rides in Beijing appeared first on CnEVPost.

For more articles, please visit CnEVPost.

BYD delivers 22 electric buses in Indonesia

This is the second batch of electric buses delivered by in Indonesia after it delivered 30 in the country a year ago.  | BYDDY.US | BYD HK

(Image credit: BYD)

BYD has delivered a new batch of electric buses in Indonesia, the second batch delivered there by the Chinese new energy vehicle (NEV) maker.

VKTR Group, a BYD electric bus distributor in Indonesia, recently delivered 22 electric buses, the K9, to local bus company Mayasari, according to a press release from the NEV maker today.

The electric buses will be put into operation on the Transjakarta bus rapid transit system, helping Indonesia achieve its goal of electrifying public transportation nationwide by 2030, BYD said.

This is the second order BYD has delivered in Indonesia, representing the NEV maker's continued effort in the Indonesian market, said Tian Chunlong, general manager of BYD's commercial vehicle operations division, at the delivery ceremony.

In 2022, BYD and its Indonesian partner VKTR Group announced a partnership with Tri Sakti, a local bus assembly plant.

On March 8, 2022, the first 30 BYD buses were delivered to Transjakarta, a bus operator in Jakarta, which were the first all-electric buses to be put into operation in Indonesia.

Up to now, BYD has promoted electric public transportation systems in more than 70 countries and regions and 400 cities around the world, according to the press release.

BYD sold 1,863,494 NEVs in 2022, making it the world's largest player in the segment. Those NEVs include 1,857,379 passenger cars and 6,115 commercial vehicles, according to data monitored by CnEVPost.

The company sold 1,177 and 1,991 new energy commercial vehicles in January and February, respectively, up 386.36 percent and 145.8 percent year-on-year, respectively.

BYD plans to launch new commercial vehicle models in markets such as China, Europe and Japan over the next three years, the Wall Street Journal said on March 8, citing people familiar with the company's plans.

The company has set a budget of more than $20 billion for its commercial vehicle division through 2025, with major spending planned for research, product development and capacity expansion, the people said.

BYD reportedly planning big push for battery electric commercial vehicles

The post BYD delivers 22 electric buses in Indonesia appeared first on CnEVPost.

For more articles, please visit CnEVPost.

driive.com
All about Smart and Sustainable Mobility

Archives

November 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930