Category: Tesla

Chinese foreign minister Qin Gang meets with Tesla CEO Elon Musk in Beijing

opposes decoupling and is willing to continue to expand its business in China and share in China's development opportunities, Musk said.

Tesla (NASDAQ: TSLA) CEO Elon Musk began his meetings with Chinese officials upon his arrival in Beijing.

On May 30, Chinese State Councilor and Foreign Minister Qin Gang met with Musk in Beijing, according to a statement on the Chinese Foreign Ministry website.

Chinese-style modernization will create unprecedented growth potential and market demand, and China's new energy vehicle (NEV) industry has a promising future, Qin said.

China will continue to unswervingly promote a high level of opening up to the outside world and is committed to creating a better market-oriented, rule-of-law and international business environment for enterprises from all countries, including Tesla, he said.

China's development is an opportunity for the world, and a healthy, stable and constructive US-China relationship will benefit both China and the United States, as well as the world, Qin said.

To develop Sino-US relations well, it is necessary to hold the steering wheel and move forward in the right direction of mutual respect, peaceful coexistence and win-win cooperation as proposed by President Xi Jinping, he said, using the analogy of Tesla's car.

The United States and China need to "apply the brakes" in time to avoid "dangerous driving"; good at "stepping on the accelerator pedal" to promote mutually beneficial cooperation, Qin said.

The Chinese people are hardworking and wise, and China's development achievements are well deserved, Musk said, according to the statement.

The interests of the United States and China are intertwined, like Siamese twins inseparable from each other, Musk said.

Tesla is opposed to decoupling and the disconnection of the supply chain and is willing to continue to expand its business in China and share the opportunities of China's development, Musk said.

The statement provided no further content. Qin previously knew Musk when he was China's ambassador to the United States.

On March 4, 2022, Qin tweeted that he had an inspiring conversation with Musk about cars on the road, stars in the sky, research on the human brain, the meaning of life on Earth and our future into space.

Last August, Qin congratulated Tesla's Shanghai plant for seeing its one millionth production vehicle roll off the line, citing it as a model for US-China cooperation.

"In less than 3 years, from 0 to 1,000,000. This is a marvelous achievement," Qin said in a retweet of Musk's tweet on August 16, 2022.

China's foreign ministry says welcome as Musk arrives in Beijing

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China NEV insurance registrations for week ending May 28: Li Auto 7,100, XPeng 2,100, NIO 1,600

's cumulative sales so far this month were around 5,300 units, with the company launching and starting deliveries of the new ES6 on May 24.

For the week of May 22 to May 28, (NASDAQ: LI) sold 7,100 vehicles, continuing to lead among China's new car brands, the company said today on Weibo.

Li Auto didn't explain what that sales volume was based on, but apparently, they were insurance registrations. The company had suspended sharing those numbers earlier this month, but has now resumed sharing them.

Last week's numbers mean that Li Auto sold 25,413 vehicles from May 1 to May 28. In the first three weeks of May, Li Auto's numbers were 4,543, 6,670 and 7,100 vehicles.

Li Auto is currently untroubled by the product switch, and its founder, chairman and CEO Li Xiang said on Weibo on May 24 that the company's five-seat SUV, Li L7, is expected to reach 20,000 monthly sales in October.

All of Li Auto's models currently on sale are extended-range electric vehicles (EREVs), with the other two models being the six-seat Li L9 and Li L8.

NIO (NYSE: NIO) sold 1,600 units last week, according to figures shared by Li Auto.

This means that NIO's cumulative sales for the month through last week were about 5,300 units. NIO's numbers for the first three weeks of May were 1,100, 1,200 and 1,400 units, respectively.

NIO officially launched the new ES6 on May 24, after the wait for the model by potential consumers seemed to have been holding down its sales.

Deliveries of the new ES6 began on the evening of May 24, although the vehicles were produced by NIO in advance rather than customized by consumers to their liking.

NIO began production of the new ES6 based on designer-recommended configuration combinations, and if consumers purchase these vehicles, official deliveries will begin on May 25, according to a May 24 post on the NIO App.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June.

(NYSE: XPEV) vehicles sold 2,100 units last week, up from 1,500 units the week before. The numbers were 870 and 1,500 in the first two weeks of May, respectively.

Since May 1, XPeng vehicles have sold 5,970 units this month.

(NASDAQ: TSLA) sold 12,800 units in China last week, up from 10,200 the week before, according to figures shared by Li Auto.

That figure for Tesla was 5,928 and 9,990 in the first two weeks of May and 38,918 cumulatively so far this month.

was at 1,900 last week, down from 2,000 the week before and up from 1,500 in the second week of May. Its numbers for the first week of May are not available.

sold 2,100 units last week, up from 1,500 the week before. That figure was 1,000 and 1,700 units in the first two weeks of May, for a cumulative total of 6,300 units so far this month.

Leapmotor sold 3,600 units last week, up from 3,000 the week before. That figure was 2,200 and 2,500 units in the first two weeks of May, and 11,300 units so far this month.

China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

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China’s foreign ministry says welcome as Musk arrives in Beijing

China has always been welcoming visits by business people from various countries, including Mr. Musk, to better understand China and promote mutually beneficial cooperation, the Chinese Foreign Ministry said.

(Image credit: CnEVPost)

The Chinese Foreign Ministry expressed its welcome as (NASDAQ: TSLA) CEO Elon Musk has just arrived in China.

China has always been welcoming visits by business people from various countries, including Mr. Musk, to better understand China and promote mutually beneficial cooperation, Chinese Foreign Ministry spokeswoman Mao Ning said at a regular press briefing held today.

China is firmly pushing forward a high level of opening up to the outside world and is committed to creating a market-oriented, rule of law and international business environment, Mao said.

China is happy to see foreign companies invest and set up businesses in China, deepen their involvement in the Chinese market and share development opportunities, she said.

Earlier today, a Reuters witness said a private jet used by Musk had arrived in Beijing.

Musk's private jet, a 2015 Gulfstream G650ER, was shown leaving Alaska on Tuesday morning Asian time and then crossing over Japan and South Korea, the report noted.

The witnesses for Reuters said the plane with its identifying tail number could be seen at Beijing Capital International Airport on Tuesday.

Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory in what is his first trip to China in three years.

The Tesla CEO last visited China in January 2020, when he showed off a dance during the delivery of Tesla's first China-made Model 3 vehicles.

China is Tesla's second-largest market after the United States, and its Shanghai plant is the electric vehicle maker's largest production center, producing the Model 3 sedan as well as the Model Y crossover.

For all of 2022, the Chinese market contributed $18.1 billion in revenue to Tesla, or 22 percent of its $81.5 billion in total revenue, according to its 10-K filing with the SEC on January 31.

The US market contributed $40.6 billion, or 49.8 percent, of Tesla's revenue in 2022.

Musk once laughed at BYD, but now thinks 'their cars are highly competitive'

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Tesla CEO Elon Musk expected to visit China this week, report says

Musk is expected to meet with senior Chinese officials and tour 's Shanghai factory, according to Reuters.

(Image credit: CnEVPost)

Tesla (NASDAQ: TSLA) CEO Elon Musk is expected to visit China this week, Reuters said in a report today, citing three people familiar with the matter.

Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, two of the sources said, according to the report.

It's unclear who Musk will meet with and what they will discuss, the report noted.

A Reuters report on March 31 said Musk planned to visit China as early as April and seek a meeting with Chinese Premier Li Qiang.

The Tesla CEO last visited China in January 2020, when he showed off a dance during the delivery of Tesla's first China-made Model 3 electric vehicles (EVs).

China is Tesla's second-largest market after the United States, and its Shanghai plant is the EV maker's largest production center, producing the Model 3 sedan as well as the Model Y crossover.

For all of 2022, the Chinese market contributed $18.1 billion in revenue to Tesla, or 22 percent of its $81.5 billion in total revenue, according to its 10-K filing with the SEC on January 31.

The US market contributed $40.6 billion in revenue, or 49.8 percent, to Tesla in 2022.

For the full year 2022, Tesla delivered 1,313,851 vehicles worldwide, up 40.38 percent from 935,950 in 2021.

The EV maker delivered 439,770 vehicles in China in 2022, contributing 33 percent of the year's deliveries, data monitored by CnEVPost show.

Tesla's Shanghai plant produced 727,000 units in 2022, up 49.7 percent from a year earlier, Chen Kele, deputy director of intelligent manufacturing promotion division at Shanghai Municipal Commission of Economy and Informatization, said earlier this month.

Tesla's Shanghai plant had an industrial output of 183.9 billion yuan ($26 billion) in 2022, which accounts for 23 percent of Shanghai's auto manufacturing output, driving 1.3 percentage points of local industrial output growth, Chen said.

Shanghai will further deepen cooperation with Tesla to promote the EV maker's businesses including self-driving, and robotics in Shanghai, he said at the time.

From January to April, Tesla delivered 177,385 vehicles in China, up 61.54 percent year-on-year, according to the China Passenger Car Association (CPCA).

Tesla's Shanghai plant exported 127,779 vehicles in January-April, up 72.97 percent year-on-year.

In addition to its EV business, Tesla is bringing its other major business -- energy storage -- to China.

Tesla signed a deal with Shanghai's Lingang authorities on the afternoon of April 9 to build a new Megafactory in the area, which will be dedicated to producing Tesla's energy storage product Megapack, according to a previous announcement from Lingang's special area administration.

The Megafactory will be Tesla's first energy storage system factory outside its US home market, with an initial planned annual production of up to 10,000 units of commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.

The factory is scheduled to start construction in the third quarter of this year and put into operation in the second quarter of 2024.

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Musk once laughed at BYD, but now thinks 'their cars are highly competitive'

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Musk once laughed at BYD, but now thinks ‘their cars are highly competitive’

"That was many years ago. Their cars are highly competitive these days," Musk said.

A video of (NASDAQ: TSLA) CEO Elon Musk laughing when asked about (OTCMKTS: BYDDY) in an interview has sparked widespread discussion on social media from time to time.

Now, as the video has sparked renewed buzz on Twitter, Musk has responded.

"That was many years ago. Their cars are highly competitive these days," Musk said in a May 27 reply below a video shared by Tesla Owners Silicon Valley on Twitter.

In a 2011 interview, a Bloomberg host mentioned that Tesla began to have competitors, such as BYD, which was ramping up.

Musk laughed at those words and asked the host if she had seen BYD's cars.

Musk's reaction at the time was understandable; after all, BYD was just a Chinese car company targeting the lower end of the market in 2011 and was far less well-known than it is now.

Even in 2019, BYD's annual sales of only 461,400 units across all models are nowhere near the 2 million sales of SAIC Volkswagen in the same year.

BYD saw explosive sales growth in 2021 and stopped production and sales of vehicles powered entirely by internal combustion engines in March 2021.

BYD sold 1,863,494 new energy vehicles (NEVs) in 2022, up 208.64 percent from 603,783 in 2021.

For comparison, Tesla delivered 1,313,851 vehicles worldwide in 2022, up 40.38 percent from 935,950 in 2021.

In the first quarter of the year, BYD sold 547,917 passenger NEVs, up 92.81 percent year-on-year, including 264,647 battery electric vehicles (BEVs) and 283,270 plug-in hybrid vehicles (PHEVs).

Tesla's vehicles were all BEVs, delivering 422,875 units in the first quarter, up 36.39 percent year-on-year.

Ford CEO Jim Farley expressed similar opinions on May 26, calling Chinese electric vehicle (EV) makers its main competitors in the segment.

Farley said that China has some of the best battery technology and is dominating EV production at the Morgan Stanley Sustainable Finance Summit.

He used BYD as a prime example of a Chinese automaker that has successfully developed and sold EVs, first in China and now in Europe.

"I like BYD. Totally vertically integrated, aggressive … very, very impressive company. And they were always committed to electric," Farley said when asked which company was doing the right thing in making EVs.

Tesla delivers 39,956 vehicles in China in Apr, exports 35,886 units from Shanghai plant

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Tesla’s Superchargers will open to Ford EVs in spring 2024

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Continue reading Tesla's Superchargers will open to Ford EVs in spring 2024

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Tesla Model X is the most-driven EV, Porsche Taycan stays parked

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Continue reading Tesla Model X is the most-driven EV, Porsche Taycan stays parked

Tesla Model X is the most-driven EV, Porsche Taycan stays parked originally appeared on Autoblog on Tue, 23 May 2023 16:04:00 EDT. Please see our terms for use of feeds.

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China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

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

vehicles registered 10,200 insurance units in China last week, bringing the number to 26,118 for the first three weeks of May.

founder, chairman and CEO Li Xiang said last week that they had been complained about by some of their peers and therefore could not continue to share the weekly insurance registration numbers.

Interestingly, however, the company resumed sharing those numbers today to continue to show that it leads the pack among Chinese new energy vehicle (NEV) startups.

For the week of May 15 to May 21, Li Auto sold 7,100 units, far outpacing other new car brands and reigning as the weekly sales leader for new automaking brands in the Chinese market, the company said today on Weibo.

Li Auto did not explain on what basis the sales were counted, but apparently, they were insurance registrations.

Li Auto surpassed all other traditional luxury brands except Mercedes-Benz, BMW and Audi to remain in the top five luxury brands in the Chinese market in terms of sales, the highest-ranked Chinese brand on the list, it said.

In the first two weeks of May, Li Auto vehicles had 4,543 and 6,670 insurance registrations, respectively. This means that from May 1 to May 21, Li Auto sold about 18,313 vehicles.

The tables Li Auto shared today show that vehicles had 1,400 insurance registrations last week. This means that NIO had 3,700 insurance registrations for the first three weeks of May.

NIO deliveries continue to be curbed by the upcoming launch of the new ES6, with insurance registration figures of 1,100 and 1,200 in the first and second weeks of May, respectively.

NIO will officially launch the new ES6 on May 24, and its deliveries will start on May 25.

The company is getting the ES6 to market with unprecedented delivery efficiency, and as of May 20, the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.

registered 1,500 insurance units last week, the same as the previous week. In the first three weeks of May, XPeng vehicles had 3,870 insurance registrations.

XPeng deliveries were also dampened by the new model G6, which is expected to officially launch and begin deliveries at the end of next month.

Insurance registrations for Tesla vehicles in China were 10,200 last week, bringing the figure to 26,118 for the first three weeks of May. The number was 5,928 and 9,990 in the first two weeks of May.

Data table: China NEV weekly insurance registrations

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