Nio launched the ET5 in Europe in October 2022, with deliveries of the sedan there beginning on March 31.
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Category: Nio
Nio’s user manuals now include 150-kWh battery as delivery nears
The 150-kWh semi-solid-state battery pack will be available in July, Nio CEO William Li said at the launch of the new ES6 in May.
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Nio’s user manuals now include 150-kWh battery as delivery nears
The 150-kWh semi-solid-state battery pack will be available in July, Nio CEO William Li said at the launch of the new ES6 in May.
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Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market
These car companies have pledged to regulate their marketing activities and not to disrupt the order of fair competition in the market with abnormal prices.
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More than 10 car companies, including major electric vehicle (EV) startups, have pledged to jointly maintain a fair market order in China's auto market, at a time when the EV industry is growing rapidly.
At the 2023 China Auto Forum in Jiading, Shanghai, today, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers signed a pledge to uphold fair market order in the automotive industry.
This is to maintain a good auto market order, jointly create a good consumer environment, and actively stabilize and promote auto consumption, they said at the conference.
The car companies that signed the commitment include:
China FAW, Dongfeng Motor, SAIC, Changan Automobile, BAIC, GAC, China National Heavy Duty Truck, Chery, JAC, Geely, Great Wall Motor, BYD, Nio, Li Auto, Xpeng, and Tesla.
The following is the main content of the commitment letter:
First, we will abide by the rules and regulations of the industry, regulate marketing activities, maintain a fair competition order, and not disrupt the fair competition order of the market with abnormal prices.
Second, we will pay attention to marketing methods, will not exaggerate or conduct false marketing, not to mislead consumers to attract attention and increase customer acquisition.
Third, we will put quality first, use quality-oriented, high-quality products and services to meet the people's needs for a better life.
Fourth, we will actively fulfill our social responsibility, and take an active role in helping to stabilize economic growth, increase confidence and prevent risks, and work together to make a contribution to national economic growth.
It should be noted that the commitment is self-regulatory and not legally binding, and it was signed after the price war at the beginning of the year and the emergence of a war of words between several EV companies and their supporters.
Since early March, a rare price war has erupted in China's auto industry, which has not boosted sales but has instead triggered a wait-and-see mood among consumers, resulting in car sales not seeing an increase.
On March 22, the CAAM called for the hype about price cuts in China's auto industry to cool down to return the industry to normal operation and ensure healthy and stable development of the industry throughout the year.
After that, the price war in China's auto industry gradually subsided.
It is worth noting that although these car companies pledged today not to disrupt the fair order with abnormal prices, it does not mean that they cannot cut prices when facing future challenges.
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China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900
The Tesla Model Y was the best-selling new energy SUV and the Model 3 was the best-selling new energy sedan in China last week.
Li Auto (NASDAQ: LI) yesterday shared the insurance registrations of some of the car companies last week to showcase its leadership among the new car-making brands.
Local auto media outlet Dongchedi then shared the rankings they produced, providing more details.
It should be noted that the two shared slightly different data on a few of the car companies' numbers, although the differences were minor, which may have to do with their rounding practices.
In the week between June 26 and July 2, BYD (OTCMKTS: BYDDY) had the highest number of new energy vehicle (NEV) insurance registrations in China at 54,000, according to what Dongchedi shared.
Tesla was in second place at 17,300 units. Tesla was 17,400 units in the data shared by Li Auto yesterday.
GAC Aion was in third place with 11,600 units last week, and Li Auto was fourth with 6,500 units.
Volkswagen's NEV sales were 3,900 units last week, ranking 8th, according to Dongchedi.
When considering only Chinese brands, BYD, GAC Aion and Li Auto were the top three, with Nio (NYSE: NIO) in sixth place.
The Tesla Model Y was the best-selling new energy SUV in China last week with 10,800 units sold. BYD Yuan Plus and BYD Song Plus DM-i were second and third, respectively, with 6,200 and 5,700 units sold.
Li Auto's Li L7 sold 2,800 units last week, ranking 7th.
Nio's ES6 was No. 10 at 1,900 units. The new ES6 was officially launched on May 24 and still seems to be in the capacity ramp-up phase.
The Tesla Model 3 sold 6,400 units last week and was the best-selling new energy sedan in China, according to data shared by Dongchedi.
BYD Dolphin came in second with 6,100 units and GAC Aion S was third with 6,000 units.
China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100
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Li Auto raises H2 sales forecast to about 240,000 units, report says
Nio has given its supply chain a full-year sales forecast of 240,000 units, according to local media.
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Li Auto (NASDAQ: LI) has updated its second-half sales forecast after seeing strong growth in the first half of the year, a new report said.
Li Auto has told its supply chain that it is raising its second-half sales forecast to about 240,300 units, local media outlet 36kr reported today.
The extended-range electric vehicle (EREV) maker expects average monthly sales of more than 35,000 units in the third quarter and more than 42,000 units in the fourth quarter, according to the report.
Li Auto is on track to see sales of more than 380,000 units for the full year, far exceeding the 300,000 sales target set at the beginning of the year, considering it delivered 139,000 units in the first half of the year, according to the report.
Li Auto's three SUVs currently on sale -- the Li L7, Li L8 and Li L9 -- are all EREVs, which are essentially plug-in hybrids aimed at a larger market than pure electric vehicles.
In June, Li Auto delivered 32,575 vehicles, bringing first-half deliveries to 139,117 units, up 130.31 percent year-on-year, according to data released earlier this month.
Last week -- June 26 to July 2 -- Li Auto sold 6,500 units, down 13.33 percent from 7,500 units the week before, according to data shared by the company yesterday.
The drop in sales last week was due to its factory being closed for two days during the week of the Dragon Boat Festival, one more day than normal, resulting in 6,388 units produced that week, Li Auto founder, chairman and CEO Li Xiang said on Weibo yesterday.
This year's Dragon Boat Festival holiday was from June 22 to June 24.
Li Auto's current vehicles are produced at its factory in Changzhou, Jiangsu province, which Li previously mentioned has six days of production per week as well as one day of overhaul.
A total of 7,500 vehicles per week is the limit of Li Auto's current production, and the reduced production from the holiday was reflected in last week's deliveries, he said.
Starting in the second week of July, Li Auto will increase its weekly production capacity from 7,500 to 8,000 units, and the change in deliveries from this will come in the third and fourth weeks of July, he said.
Late last month, a 36kr report said Li Auto had raised its full-year sales target to 400,000 units from the original 300,000, but this was later denied by Li.
Li Auto finished the first half of the year with more than 130,000 units sold and does not have any ability to make it to 400,000 units for the full year, he said at the time.
Li Auto's battery-electric vehicle (BEVs)-focused local peers Nio (NYSE: NIO) and Xpeng (NYSE: XPEV) have both largely completed product switches recently and are expected to see higher sales in the second half of the year.
Nio has given its supply chain a full-year sales forecast of 240,000 units, the 36kr report said today.
Nio management has previously said the company was aiming to double its sales this year compared to last year. It sold 122,486 vehicles last year and sold 54,561 vehicles in the first half of this year.
Nio will need to sell an average of at least 31,000 vehicles per month in the second half of the year if it is to achieve full-year sales of 240,000 vehicles.
Xpeng has previously mentioned that the goal is to see cumulative deliveries of more than 450,000 vehicles by the end of this year, implying a sales target of about 200,000 vehicles this year.
The company has seen weak sales over the past year, though deliveries have been improving month by month so far this year, with 8,620 vehicles delivered in June.
Xpeng delivered 41,435 vehicles in the first half of the year, and to see full deliveries reach 200,000 would mean it would need to deliver an average of more than 26,000 vehicles per month in the second half.
Xpeng officially launched its new SUV, the G6, on June 29, and its chairman and CEO, He Xiaopeng, said the monthly sales target for the model is at least 10,000 units.
Li Auto delivers record 32,575 vehicles in Jun, aims for 40,000 monthly deliveries in Q4
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Nio opens innovation center in Berlin to boost local R&D of software
Berlin innovation center will help Nio's electric vehicles get smarter in Europe and worldwide, the company said.
(Image credit: Nio)
Nio (NYSE: NIO) has opened an innovation center in Berlin, Germany, as the Chinese electric vehicle (EV) company ramps up its European presence.
The innovation center, which officially opened on July 4, is located at Rotherstraβe 19, 10245 Berlin and covers 1,500 square meters, according to an announcement posted yesterday on Nio's mobile app for Europe.
This is the first Nio R&D center in Europe, and five different teams will work on software development for Nio products and technologies from now on, according to the announcement. The company has a global design center in Munich.
The innovation center is also responsible for localization and software testing, with focus areas including autonomous driving, digital systems, digital architecture, digital cockpit, user experience, user interface and in-car voice assistance system NOMI, according to Nio's announcement.
The new innovation center in Berlin complements existing software development centers in Beijing and San Jose, where Nio has developed about 50 percent of its software.
The innovation center's development team consists of more than 25 employees from 11 different countries, Nio said. Late last month, the company said Nio employs more than 1,300 people in Europe, most of them located in Germany.
The innovation center in Berlin will also serve as a research and development center for Nio Power and as an operations control center for all European battery swap stations, Nio said.
Nio is bringing its entire service system from China to Europe, including the iconic battery swap stations. As of June 30, Nio had 18 battery swap stations in Europe.
On September 16, 2022, Nio announced that its Nio Power Europe Plant in Budapest, Hungary, saw the first battery swap station roll off the assembly line.
The Berlin innovation center location was specifically chosen to attract Europe's top talent in software development, machine learning, artificial intelligence and voice systems.
With Nio's smart technology and the Berlin innovation center, the company's EVs will become smarter not only in Europe, but also worldwide, said Zhang Hui, vice president of Nio Europe.
Users can give feedback to NOMI directly from inside the vehicle, and the Berlin innovation center will help better respond to the desires of German and European customers, Nio's announcement said.
Nio is strengthening its partnerships with local suppliers to deliver better infotainment systems.
In the video-on-demand space, Nio has expanded its partnerships with companies such as Spotify, Nvidia, Bosch and Qualcomm. With a software over-the-air update, Nio now welcomes ScreenHits as a video-on-demand technology for European users, it said.
ScreenHits TV, a UK-based streaming provider, gives users in Europe access to video-on-demand content in 59 countries and 30 languages, according to Nio.
NIO's William Li attends high-level Sino-German meetings as Chinese Premier visits Europe
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Nio ES6 wait time gets longer, ES7, ET7, ET5 Touring gets shorter
Nio had sales of 4,100 units last week, up 28.13 percent from 3,200 units the week before.
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Nio's (NYSE: NIO) new ES6 has a slightly longer wait time in China, while the three other models are slightly shorter.
Customers locking in orders for the Nio ES6 are now expected to get deliveries in 3-6 weeks, slightly higher than the previous 3-4 weeks, information from the Nio App monitored by CnEVPost shows.
Nio officially launched the new ES6, its lowest-priced SUV, in China on May 24, with a current starting price of RMB 338,000 ($46,800), and its deliveries began on the night of the launch.
The last change in the Nio ES6 wait time was on June 26, when it went from about 5 weeks to 3-4 weeks.
Wait times for both the Nio ES7 SUV as well as the ET7 sedan both changed to 6-7 weeks today, slightly lower than the previous 6-8 weeks.
Nio launched the ES7 on June 15, 2022, with the first delivery on August 28, 2022.
The ES7 is Nio's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on this second-generation platform, with a starting price of RMB 438,000 including battery.
Originally launched at the Nio Day 2020 event on January 9, 2021, the Nio ET7 is the company's first sedan, with deliveries beginning on March 28, 2022.
On the first day of the Shanghai auto show on April 18, Nio launched the 2023 ET7, with prices currently starting at RMB 428,000. Deliveries of the new ET7 began on May 19.
On June 26, the wait time for both the ES7 and ET7 went from about 3 weeks to 6-8 weeks.
The latest wait time for the ET5 Touring is about 3 weeks, slightly lower than the previous 3-4 weeks.
Nio officially launched the ET5 Touring in China on June 15 with the same price as the regular ET5, starting at RMB 298,000.
ET5 Touring deliveries in China started on June 15.
Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, although down 17.39 percent from 12,961 in the same month last year, according to figures it announced on July 1.
Last week -- June 26 to July 2 -- Nio sold 4,100 units, up 28.13 percent from 3,200 units the week before, according to data shared by Li Auto (NASDAQ: LI) yesterday.
($1 = RMB 7.2218)
Data table: Latest wait times for Nio models after Jul 5 changes
(Screenshots on July 5, 2023)
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China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100
Nio's sales of 4,100 units last week are second only to Li Auto in the table.
Li Auto (NASDAQ: LI) shares last week's sales of major new car makers in China, showing how it and its major peers fared.
For the week of June 26 to July 2, Li Auto sold 6,500 units, continuing to top the sales chart for China's new car-making brands, the company said today on Weibo.
Li Auto did not explain on what basis the weekly sales were measured, but apparently they were insurance registrations. The company had suspended sharing those numbers in May, but has since resumed sharing them.
In June, Li Auto exceeded 30,000 monthly deliveries for the first time, making it the fifth luxury brand to exceed 30,000 monthly deliveries after Mercedes-Benz, BMW, Audi and Tesla, and the only Chinese luxury brand among them, it said.
In July, Li Auto will challenge higher sales targets to become the luxury car brand of choice for more families, the company said.
Li Auto released data on July 1 showing it delivered a record 32,575 vehicles in June, the first time it has surpassed the 30,000 mark.
In the second quarter, Li Auto delivered 86,533 vehicles, up 201.65 percent year-on-year and up 64.56 percent from the first quarter, exceeding the upper end of its previously provided guidance range of 76,000 to 81,000 vehicles.
In the first half of the year, Li Auto delivered 139,117 vehicles, up 130.31 percent year-on-year, surpassing last year's full-year deliveries of 133,246.
Nio (NYSE: NIO) sold 4,100 units last week, second only to Li Auto among China's new car-making brands.
Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, although down 17.39 percent from 12,961 in the same month last year.
The deliveries included 6,383 SUVs, and 4,324 sedans, Nio said on July 1, without disclosing figures for specific models.
In the second quarter, Nio delivered 23,520 vehicles, down 6.14 percent from a year ago and down 24.23 percent from the first quarter. The deliveries were slightly above the lower end of the guidance range it provided on June 9 of 23,000 to 25,000 vehicles.
In the first half of the year, Nio delivered 54,561 vehicles, an increase of 7.35 percent year-on-year.
Nio's delivery rebound in June was helped by the start of deliveries of several new models, especially the new ES6.
The company launched the new ES6, based on the NT 2.0 platform, in China on May 24, with deliveries starting on launch night.
On June 15, Nio launched the ET5 Touring in China, with deliveries starting on June 16.
On June 28, Nio began deliveries in China for the new ES8, the flagship SUV launched on Nio Day 2022 on December 24, 2022.
Tesla (NASDAQ: TSLA) sold 17,400 units last week, ranking fourth among premium brands, according to the table shared by Li Auto.
The top-selling premium brands in China last week continued to be German luxury brands BMW, Audi and Mercedes-Benz, with 20,800, 20,500 and 19,600 respectively.
Li Auto was No. 6 in premium brand sales, behind Cadillac. Nio was No. 9, behind Volvo and Lexus.
Leapmotor was at 3,400 last week, Neta at 3,200, Zeekr at 3,100 and Xpeng (NYSE: XPEV) at 2,700.
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Deutsche Bank on China EV sales: Jun gathering momentum
After the price cut and a series of new models, Nio sales could reach 20,000 units per month in the third quarter, according to Edison Yu's team.
China's major electric vehicle (EV) makers recently announced their June deliveries, and Deutsche Bank analyst Edison Yu's team provided their take, as usual.
"June EV sales surprised to the upside as demand picked up, likely signaling some normalization in consumer behavior and release of pent-up demand from buyers taking advantage of low prices," the team said in a research note sent to investors today.
Li Auto (NASDAQ: LI) again led the way among the upstarts, setting a new monthly record, while Nio (NYSE: NIO) saw a large improvement in monthly sales, driven by the speedy ramp-up of the ES6, the team noted.
Looking ahead, pressure will be on Nio and Xpeng (NYSE: XPEV) to deliver big growth in the second half with new vehicle launches, while Li Auto works to increase its already strong order book, Yu's team said.
As a backdrop, Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, though down 17.39 percent from 12,961 a year earlier.
Xpeng delivered 8,620 vehicles in June, up 14.84 percent from May and the fifth sequential growth, despite a 43.64 percent decline from the same month last year.
Li Auto delivered a record 32,575 vehicles in June, surpassing the 30,000 mark for the first time.
Zeekr delivered 10,620 vehicles in June, up 146.86 percent year-on-year and up 22.38 percent from May.
Yu's team said Nio deliveries were slightly below their forecast, though the new ES6 appears to be ramping up smoothly and should be a bigger contributor in July along with the full month of production of the ET5 Touring.
After the price cut and a slew of new models, Nio could reach 20,000 units per month in the third quarter, the team said.
The team said Xpeng deliveries exceeded their expectations and, most importantly, the initial reception to the new G6 looks increasingly positive.
Looking ahead, Xpeng is on track to hit at least 10,000 deliveries in July and 15,000 in September is doable, the team said.
Here is the full text of the team's research note.
June gathering momentum
June EV sales surprised to the upside as demand picked up, likely signaling some normalization in consumer behavior and release of pent-up demand from buyers taking advantage of low prices.
Total NEV retail sales appear to be tracking around 670k according to preliminary CPCA forecasts or +16 percent MoM (+26 percent YoY).
Li Auto once again led the way among the upstarts setting a new monthly record while Nio saw a large improvement MoM driven by speedy ramp up of ES6.
Looking ahead, the pressure will be on Nio and XPEV to deliver big growth in 2H from new launches while Li Auto strives to increase its already robust order book.
June OEM recap
Li Auto delivered 32,575 vehicles (+15 percent MoM; +150 percent YoY), easily beating our forecast. Looking ahead, management is targeting L8 and L9 to be +10,000 each and L7 at 15,000 in monthly sales for 3Q and then 40,000 total in 4Q.
To support this, we are expecting a cheaper variant of the L9 to be available later in the year.
Separately, the first BEV (Li MEGA) is set to be unveiled in 4Q, catering to the >500k RMB segment.
The company exited the month with 331 retail stores and 323 servicing centers.
Nio delivered 10,707 units (+74 percent MoM; -17 percent YoY), slightly below our forecast.
The new ES6 appears to be ramping up smoothly and should be an even bigger contributor in July along with a full month of ET5 Touring production. New ES8 deliveries also began in the last few days of June.
Following the price cut and slew of new models, we think 20,000 in monthly sales is achievable during 3Q.
Nio exited the month with ~1,500 battery swap stations.
XPeng delivered 8,620 units (+15 percent MoM; -44 percent YoY), ahead of our expectations. P7 sales increased 17 percent MoM to nearly 5,200.
Most importantly, the initial reception to the new G6 is looking increasingly positive.
Starting price will be just 210k RMB and management raised its pre-sale number to +35,000 units (vs. prior +25,000), suggesting a robust pipeline of deliveries for 3Q.
Looking ahead, we expect July can reach at least 10,000 deliveries and 15,000 in September is doable.
Zeekr delivered sales of 10,620 vehicles (+22 percent MoM; +147 percent YoY). Looking ahead, Zeekr is offering some promotions through September on the 001 (likely in response to ET5 Touring competition) including free upgrade options on exterior color, larger 100 kWh battery, dual-motor 4WD, air suspension, and/or charging credits.
In addition, the company is providing special financing offers on all models.
Recall, Zeekr is targeting 140,000 in total unit sales this year (<43,000 through 6 months so far).
Nio deliveries rebound to 10,707 units in Jun as new models bring relief
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