Tagged: China

Li Auto delivers over 32,000 vehicles in Jun, CEO says

This means that had another record month of deliveries in June, and the first time it has surpassed the 30,000-unit mark.

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It's the practice for China's major electric vehicle (EV) makers to announce their deliveries for the previous month on the first day of each month, and Li Auto (NASDAQ: LI) couldn't wait to share a number today to showcase its strong performance.

Li Auto delivered more than 32,000 vehicles in June, taking premium Chinese brands to a whole new level of sales, its founder, chairman and CEO Li Xiang said in a speech today celebrating the company's eighth anniversary.

The company aims to become the No. 1 seller in the Chinese market for passenger cars priced at more than RMB 200,000 yuan ($27,590) and to reach 1.6 million annual deliveries by 2025, he said, repeating previous remarks.

The latest figure means that Li Auto's deliveries in June reached another record high and were the first time to exceed the 30,000-unit mark, up more than 145 percent from 13,024 units a year earlier.

The company delivered 28,277 vehicles in May, up 145.97 percent year-on-year and up 10.11 percent from April, the third consecutive month to exceed the 20,000-unit mark.

Earlier this week, local media reported that Li Auto had recently raised its full-year sales target to 400,000 units from the original 300,000. However, this was subsequently 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 on June 27.

The company's capabilities, including product, sales, capacity and organization, cannot support 400,000 units sold this year, and the gap is huge, Li said.

On June 18, Li said on Weibo that most members of Li Auto's management team thought the company should set an annual sales target of 360,000 units at the beginning of the year, but he ultimately decided to set a budget target based on annual sales of 306,000 units.

"This was partly because I didn't think we could be too optimistic about the economic environment this year, and partly because we didn't meet our budget targets for all three years from 2020-2022," he said at the time.

Li said the too-low targets he set led the company to place orders at suppliers at the beginning of the year that were clearly not keeping up with current sales, so several key components would take more than a quarter to reach the right capacity if production ramp-up began now.

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Li Auto CEO denies raising sales target for this year to 400,000 units

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Xpeng targets G6 monthly sales of over 10,000

's Hong Kong-traded shares rose more than 14 percent to HK$51.80 at press time, giving it a 30 percent gain for the week.

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Xpeng (NYSE: XPEV) officially launched the G6 yesterday, and the company's management clearly has high hopes for the new SUV.

The G6's monthly sales target is at least 10,000 units, Xpeng chairman and CEO He Xiaopeng said in an interview with local media after yesterday's G6 launch, according to a report by Auto Home.

Mr. He disagreed with the idea that Xpeng needs to turn its fortunes around with the G6, saying that a company that bets its future on one car is doing it wrong.

In the auto industry, automakers need long-term thinking and systemic competitiveness, he said.

Xpeng officially launched the G6 yesterday, offering five versions with starting prices of RMB 209,900 ($28,940), RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.

Of the five options, the three versions in the middle price range will be the best sellers, meaning the G6 will be in the RMB 250,000 range in terms of average sales price, according to Mr. He.

At yesterday's launch, he said the G6 is expected to be the top-selling smart electric SUV in China within two months priced at the RMB 250,000 level.

The Xpeng G6 received more than 25,000 pre-orders within 72 hours of the start of pre-sales on June 9, and more than 35,000 pre-orders as of June 28, said Yi Han, the company's vice president of marketing, repeating Mr. He's remarks at yesterday's launch event.

Forty percent of Xpeng G6 orders came from offline stores and 60 percent from online channels, Yi said.

Mr. He made it clear in yesterday's interview that Xpeng will not launch extended-range electric vehicle (EREV) models similar to (NASDAQ: LI).

As an entrepreneur, choices need to be made and trade-offs need to be made, he said.

In a June 15 speech, Mr. He said he could foresee a large number of hybrid models in China in the next two years, especially inside family cars.

"Because everyone sees the success, they will follow. Because they are following, a large number of models will focus on the same place. It's a very interesting thing," he said in the speech.

Xpeng shares traded in Hong Kong continued to rise today, up more than 14 percent to HK$51.80 at press time, giving it a 30 percent gain for the week.

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Xpeng officially launches G6 with starting price of $29,010 to regain past glory

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Tesla Model Y wait times get longer in China

The latest wait times for all three versions of the Model Y in China are a slightly longer 2-6 weeks, the second change this year since January 9.

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Tesla's (NASDAQ: TSLA) Model Y -- the best-selling SUV in China -- is seeing longer wait times, the second such change in the first half of this year.

The latest expected delivery dates for all three available versions of the Model Y in China -- the entry-level rear-wheel drive Model Y, the dual-motor all-wheel drive Model Y Long Range, and the dual-motor all-wheel drive Model Y Performance -- are all 2-6 weeks, CnEVPost's monitoring shows.

The last change in wait times for the Model Y in China was on January 9, when both the entry-level Model Y and Model Y Long Range went from 1-4 weeks to 2-5 weeks, and the Model Y Performance stayed at 1-4 weeks.

CnEVPost has been tracking wait times and price changes for Tesla models in China on a daily basis since April 2022. The latest change in Model Y wait times is the second in the first half of the year.

(Vehicle information displayed on Tesla's China website on June 30, 2023.)

Tesla has a factory in Shanghai that produces the Model 3 and Model Y. The expected delivery dates for the two versions of the Model 3 -- the entry-level rear-wheel drive version and the dual-motor all-wheel drive Model 3 Performance -- remain unchanged at 1-4 weeks.

The Model 3 and Model Y showed no change in price or core specification information today. There have been some changes to their pricing information in China in the first half of this year.

On January 6, Tesla significantly lowered the prices of the full range of Model 3 and Model Y in China. The specific adjustments at that time were as follows:

The price of the entry-level Model 3 was reduced by RMB 36,000 from RMB 265,900 ($36,660) to RMB 229,900 on January 6, and the Model 3 Performance was reduced by RMB 20,000 from RMB 349,900 to RMB 329,900.

The price of the entry-level Model Y was reduced by RMB 29,000 from RMB 288,900 to RMB 259,900 on January 6, and the Model Y Long Range was reduced by RMB 48,000 from RMB 357,900 to RMB 309,900. The Model Y Performance was reduced by RMB 38,000 to RMB 359,900 from RMB 397,900.

On February 10, Tesla increased the price of the base Model Y in China by RMB 2,000 to RMB 261,900.

On February 17, Tesla increased the price of Model Y Long Range and Model Y Performance in China both by RMB 2,000 to RMB 311,900 and RMB 361,900, respectively.

On May 2, Tesla increased the prices of the entire Model 3 and Model Y lineup by RMB 2,000 in China. Following this adjustment, the starting prices for the two versions of the Model 3 were RMB 231,900 and RMB 331,900, respectively, and the starting prices for the three versions of the Model Y were RMB 263,900, RMB 313,900 and RMB 363,900, respectively.

Prices for the Model 3 and Model Y have not changed in China since the May 2 price change.

Tesla sold 42,508 Model 3 and Model Y vehicles in China in May, and the Shanghai plant exported 35,187 vehicles, according to the China Passenger Car Association (CPCA).

Model Y retail sales in China in May were 31,054 units, up 428.58 percent year-on-year and up 16.05 percent from April.

This makes the Model Y the best-selling SUV in China in May, above the second-place Yuan Plus with 26,072 units and the third-place BYD Song Plus with 22,079 units, according to a ranking by the CPCA.

From January to May, Model Y retail sales in China were 152,461 units, up 87.03 percent year-on-year, making it the best-selling SUV in China during that period.

Yesterday, local media outlet 36kr reported that Tesla's revamped China-made Model 3 will have an upgraded battery pack, with the base rear-wheel drive version using 's new M3P lithium iron phosphate battery, which will be upgraded from 60 kWh to 66 kWh in capacity.

The 66-kWh battery pack will not only be used in the improved Model 3, but also in the future upgraded Model Y, the report said, citing sources.

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Tesla starts offering insurance subsidies for car purchases in China again

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China EV daily: Xpeng G6, Tesla Model 3 with CATL battery, Belarusian SOE can only purchase Geely cars

Xpeng G6 hit the market, Model 3 will have CATL battery, strange deal for Geely - Belarusian SOE's want's only their cars and GAC wants to hit 500k sales this year

The post China EV daily: Xpeng G6, Tesla Model 3 with CATL battery, Belarusian SOE can only purchase Geely cars appeared first on CarNewsChina.com.

Xpeng officially launches G6 with starting price of $29,010 to regain past glory

The G6 is expected to be the top-selling smart electric SUV in China in the RMB 250,000 price level within two months, said 's CEO.

(Image credit: Xpeng)

Xpeng (NYSE: XPEV) today officially launched its highly anticipated new SUV, the G6, in China at prices significantly below the pre-sale price to recapture its past glory.

The G6 is a direct competitor to the Model Y, and Xpeng is offering it in five versions, including two Pro versions and three Max versions.

These five versions start at RMB 209,900 ($29,010), RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.

The starting price is RMB 15,100 lower than Xpeng's G6 pre-sale price of RMB 225,000 announced on June 9.

The G6 measures 4,753 mm in length, 1,920 mm in width and 1,650 mm in height, and has a wheelbase of 2,890 mm, which is essentially the same as the Tesla Model Y, which measures 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, and has a wheelbase of 2,890 mm.

The Model Y is currently available in three versions in China, with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively.

The Tesla model sold 31,054 units at retail in China in May, making it once again the best-selling SUV in the country, according to a ranking released earlier this month by the China Passenger Car Association (CPCA).

Xpeng began pre-sales of the G6 on June 9 and later announced that the model had received more than 25,000 orders in 72 hours.

At today's launch event, Xpeng chairman and CEO He Xiaopeng said the G6 had more than 35,000 pre-sale orders as of June 28 since June 9.

The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said.

It's worth noting that while Xpeng previously emphasized that the G6's most direct competitor is the Tesla Model Y, Mr. He's comments seem to rule out comparisons to the Model Y, which is priced above RMB 250,000 for all versions.

In China, consumers generally prefer SUVs with more space, which is why the earliest models from startups including Xpeng, (NYSE: Nio) and (NASDAQ: LI) were all SUVs.

Tesla's Model Y has also quickly become one of the best-selling electric vehicles in China after it starts production at its Shanghai plant in 2021.

From January to May, Model Y retail sales in China were 152,461 units, up 87.03 percent year-on-year, making it the best-selling SUV in China during that period.

Based on the 800 V platform, the Xpeng G6 boasts more than 100 advanced features, including a 3C battery that supports ultra-fast charging, and the company's signature driver assistance software, XNGP.

Four versions of the vehicle are single-motor rear-wheel drive models, offering a choice of two ranges -- 580 and 755 kilometers. The most expensive version is a dual-motor four-wheel drive model with a CLTC range of 700 kilometers.

The G6 can be charged from 0 to 80 percent in as little as 20 minutes, with combined energy consumption as low as 13.2 kWh per 100 km.

The model is equipped with battery cells from 's local rival CALB and battery packs produced by Xpeng's plant in Wuhan, Hubei, according to a previous regulatory filing.

In terms of performance, the lowest-priced Xpeng G6 can accelerate from 0 to 100 km/h in 6.6 seconds, while the highest-priced 4WD version is 3.9 seconds.

XNGP is an all-scenario assisted driving system, and Xpeng aims to have it provide driving assistance in all scenarios including highways, city roads, internal campus roads, and parking lots.

On June 15, Xpeng announced that the urban part of the system, City NGP (Navigation Guided Pilot), became available in Beijing after Guangzhou, Shenzhen and Shanghai.

Xpeng announced at today's launch event that XNGP will cover an additional 50 Chinese cities in the second half of the year, with the goal of being available in 200 cities next year.

The G6 show cars and vehicles for test drives are already available in Xpeng showrooms in China, and deliveries of the model will begin in July.

Xpeng also said today that the G6 is based on Chinese and European five-star safety standards and that deliveries in Europe will also begin next year.

Xpeng restarted its European expansion, once on hold, with the launch of the G9 and the new P7 in Europe in February.

The G6 will be crucial for Xpeng to boost weak sales, which fell to 5,218 units in January and have only recovered to just over 7,000 units in the past three months.

The G6 will be a hot seller in China's new-energy SUV market in the RMB 200,000 to 300,000 range, and will enable Xpeng's total deliveries to grow well above the industry's pace in the third quarter, the company's management said in a May 24 analyst call following its first-quarter earnings announcement.

Xpeng management also said at the time that it had set aside about two months between the start of production and delivery of the G6, a model that Xpeng hopes will reach more than double the sales of the P7i.

This means that Xpeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a May 30 research note.

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XPeng making its last stand with G6, says Deutsche Bank

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Chinese brands expected to contribute 9% of NEV sales in Western Europe in 2023, says TrendForce

Western Europe is a traditional stronghold for international carmakers, and it's difficult for Chinese brands to stand out, TrendForce said.

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Chinese brands are expected to increase their share of the Western European new energy vehicle (NEV) market to 9 percent in 2023, up from 6 percent in 2022, market research firm TrendForce said in a report today.

SAIC's MG is the dominant Chinese brand in the Western European NEV market, according to the report.

Chinese exports of NEVs are primarily aimed at Western European countries with clear timetables for phasing out fuel vehicles, as well as Southeast Asia, especially Thailand, where penetration of such vehicles is low, TrendForce noted.

Western Europe is the home base of traditional international car manufacturers, and it is difficult for Chinese brands to stand out, the report said.

However, it is worth noting that Chinese NEVs emphasize high cost-efficiency and intelligence, and affordable electric vehicles can meet demand against the backdrop of high inflation facing Western Europe, TrendForce said.

In Southeast Asia, where Chinese brands entered early, the number of NEVs here is small, in the tens of thousands range, but the share of Chinese brands is high, the report said.

In 2023, the market share of Chinese brands in the Southeast Asian NEV market is expected to rise to 63 percent from 52 percent in 2022, TrendForce said.

This is a major concern for Japanese brands, which have long had a high market share in the Southeast Asian auto market, the report said.

Entering new markets requires a significant investment of resources, including the establishment of showrooms, after-sales maintenance service systems, charging infrastructure and compliance with local regulations.

Therefore, how to maintain price advantages while adding additional costs will be key to the success of Chinese auto brands overseas, according to TrendForce.

China's NEV industry developed early and has advantages in supply chain, productivity, cost-effective lithium iron phosphate (LFP) battery technology and production capacity, the high report also noted.

Chinese battery makers have layout in global upstream lithium resources, so their cost control and component supply stability are higher, becoming an advantage for Chinese car manufacturers when expanding overseas markets, the report said.

NEVs accounted for more than 25 percent of China's auto exports in the first quarter of 2023, and NEVs will be the focus of future expansion into overseas markets, TrendForce said.

Tesla contributes half of all NEV exports from China in H1

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Tesla to equip revamped Model 3 in China with CATL’s new battery, report says

's revamped China-made Model 3 will use 's new M3P lithium iron phosphate battery, with the base model battery pack capacity upgraded from 60 kWh to 66 kWh, according to 36kr.

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Tesla's revamped China-made Model 3 will have upgraded battery packs, and the rear-wheel drive base model will use CATL's new M3P lithium iron phosphate battery, with capacity upgraded from 60 kWh to 66kWh, local media 36kr reported today.

Tesla has a practice of upgrading its batteries with every facelift, previously, the standard range version of the China-made Model 3 has been upgraded from 55 kWh to 60 kWh, the report noted.

The 66-kWh pack is not only available for the upgraded Model 3, but can also be used in future revisions of the Model Y, the report said, citing sources.

The range of the China-made Model 3 rear-drive version is currently 556 kilometers. The range of the facelifted Model 3 is expected to increase after receiving a 6-kWh boost in battery capacity, the report said.

The revamped Model 3, with the project code name Highland, is expected to launch in the third quarter, the report said, citing industry chain sources.

Tesla has a factory in Shanghai that produces the Model 3 and Model Y, with an annual capacity of about 1.1 million vehicles, making it the largest Tesla factory in the world.

On March 1, Reuters reported that Tesla was working to retool its Shanghai plant for a Model 3 facelift, a project codenamed Highland by Tesla.

The Highland version of the Model 3 is expected to go into production in Shanghai in September, the Reuters report said, citing a person familiar with the matter.

With Highland, Tesla aims to cut production costs and boost the appeal of the electric sedan, which debuted in 2017, people involved in the project said.

In addition to the Highland version of the Model 3, the Reuters report also mentioned that Tesla was preparing to make production changes to the Model Y.

The changes to the Model Y -- which Tesla has codenamed Project Juniper -- involve the exterior and interior of the SUV, with the goal of starting production in 2024, according to Reuters.

On May 16, Bloomberg reported that Tesla was nearing the final stages before starting trial production of its revamped Model 3 sedan in Shanghai.

The revamped Model 3 is slightly longer, sportier and has a sleeker interior design than earlier versions, according to the report.

On the battery front, it's worth noting that there were rumors last August that CATL would supply M3P batteries to Tesla.

CATL will begin supplying M3P batteries to Tesla in the fourth quarter, and will put them in Model Y using 72 kWh packs, local media outlet LatePost reported on August 3, 2022.

The lithium manganese iron phosphate (LMFP) material used in CATL's M3P battery will be supplied by Shenzhen Dynanonic Co, which had plans to put 110,000 tons of LMFP material into production in the second half of 2022, according to the report.

Tesla was also developing LMFP batteries, but with a long development cycle, it will first source such batteries from suppliers, the report said.

LMFP batteries are an improvement on lithium iron phosphate (LFP) batteries.

Batteries are usually named after the cathode materials they use. LMFP cathode materials can be made by adding manganese to the LFP cathode materials currently used to make LMFP batteries.

The LMFP route can be divided into two types, using 100 percent LMFP material as the cathode or doping the LMFP material with other materials such as aluminum or magnesium to make the cathode.

CATL's M3P batteries' cathode materials are doped with lithium ternary materials and LMFP materials, a solution that solves the problem of short cycle life and high internal resistance of LMFP batteries, as noted in the LatePost report.

On August 18, 2022, Sina Tech cited two people familiar with the matter as saying that Tesla would soon launch a new China-made Model 3, with the biggest highlight being that the entire lineup will use M3P batteries supplied by CATL, with a range improvement of at least 10 percent.

With the new battery pack, the two versions of the China-made Model 3 are expected to have a range of more than 600 km and 700 km, up from the previous 556 km to 675 km, the report said.

Tesla starts offering insurance subsidies for car purchases in China again

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GAC Aion announces entry into Thailand with plans for local production

will set up its Southeast Asia headquarters in Thailand within this year, with local production in the country in active preparation, it said.

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GAC Aion, the electric vehicle (EV) subsidiary of GAC Group, has announced its entry into the Thai car market, becoming the latest Chinese EV maker to do so.

On June 28, GAC Aion signed a memorandum of cooperation with a Thai dealership to officially enter the Thai market, kicking off the brand's internationalization, said an announcement yesterday.

The signing is the first step in the overseas strategy of GAC Aion, which will set up its Southeast Asian headquarters in Thailand within this year, it said.

Meanwhile, local production of models offered in Thailand is in active preparation, GAC Aion said.

Going forward, GAC Aion will deepen its efforts in the Thai market and expand its presence in Southeast Asia, it said.

GAC Aion sold a record 45,003 vehicles in May, its third consecutive month of more than 40,000 units, according to figures it released earlier this month.

In a ranking released earlier this month by the China Passenger Car Association (CPCA), GAC Aion ranked second among the top 10 NEV retail sales, behind 's 220,735 units.

GAC Aion plans to produce and sell 500,000 pure electric vehicles this year and launch overseas business efforts, GAC Group spokesman Yin Jie said at a June 27 press conference held by the Guangzhou municipal government.

GAC Aion is the latest local car company to announce its entry into Thailand. As competition in China's EV market grows fiercer, several car companies have set their sights on overseas markets.

Nio (NYSE: ) and Xpeng (NYSE: XPEV) are currently focusing their overseas efforts on Europe, in terms of choosing their first overseas market.

Other Chinese EV makers, including Automobile and Leapmotor, are targeting less economically developed markets in Southeast Asia or the Middle East.

On August 24, 2022, Neta announced the launch of the right-hand-drive version of the Neta V EV at a launch event in Thailand, as its first model offered there.

On March 10 this year, Neta laid the foundation stone for its factory in Bangkok, Thailand, which will be its main manufacturing base for building right-hand-drive electric vehicles for export to ASEAN.

GAC Aion aims to sell 500,000 all-electric vehicles this year

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