Smart and Sustainable Electric Mobility
The Yangwang U9 is the first BYD car with a steering yoke. It will hit the market this year with 1100 hp and a price tag of 150,000 USD.
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Tesla's April sales in China may have been negatively impacted by consumer expectations of price cuts. It raised the prices of all its models in China this week, seemingly aimed at dampening such expectations. | TSLA.US
Tesla sold 75,842 China-made vehicles in April, including exports, according to data released today by the China Passenger Car Association (CPCA).
That's up 4,916.01 percent from 1,512 units in the same month last year but down 14.66 percent from 88,869 units in March.
Last April's low base was due to disruptions to Tesla's production in China when Shanghai, where its plant is located, went into Covid lockdown at the end of March last year. The plant produces the Model 3 sedan as well as the Model Y crossover.
The sales include those in China as well as those for export, and the breakdown is expected to be available in the coming days.
In January-April, Tesla's China-made vehicle sales were 305,164, up 66.13 percent from 183,686 in the same period last year, data monitored by CnEVPost showed.
Tesla's April sales in China may have been negatively impacted by consumer expectations of price cuts.
The US electric vehicle maker cut prices for the Model 3 as well as the Model Y in several markets around the world in the first half of April, raising concerns about whether it would cut prices in China.
This may have caused many potential consumers to wait for Tesla to cut prices in China, thus delaying the purchase of the car.
On April 14, Grace Tao, Tesla's vice president of external affairs, shared several charts on Weibo showing that all versions of the Model 3 and Model Y available in the Chinese mainland are priced lower than in all other markets.
Tao shared these charts without comment, although she seemed to be suggesting at the time that Tesla would not be dropping prices in China.
On May 2, Tesla raised the prices of its full lineup of Model 3 and Model Y in China by RMB 2,000 ($290), a small margin that meant the move may be aimed more at dispelling consumer wait-and-see sentiment.
Earlier today, Tesla raised the prices of the new Model S and Model X in China, and also offered 3 years of free supercharging for the two more expensive models.
The Model 3 now starts at RMB 231,900 in China, the Model Y at RMB 263,900, the Model S at RMB 808,900 and the Model X at RMB 898,900.
($1 = RMB 6.9119)
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Since this week, the Model Y with BYD battery has been produced at Tesla's Gigafactory in Grünheide, Germany, according to a German media report. | TSLA.US BYDDY.US | BYD HK
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Starting this week, the Model Y with BYD battery has been produced at Tesla's Gigafactory in Grünheide, Germany, local media outlet Teslamag said in a report Thursday.
The model is a rear-wheel drive version and the batteries will not be produced by Tesla itself, but by BYD in China, according to the report.
This is Tesla's fourth battery supplier after Panasonic, LG Energy Solution and CATL, the report noted.
Last August, Tesla applied for and received European type approval for the Model Y with BYD's lithium iron phosphate (LFP) battery, which at the time had a 55-kWh capacity and a 440 km WLTP range, the report said.
Tesla currently specifies a WLTP range of 455 km for the Model Y with standard rims and 430 km with 20-inch wheels, the report noted.
In February 2022, rumors surfaced that Tesla had placed an order with BYD's battery manufacturing division, FinDreams Battery, for blade batteries for 204,000 vehicles per year.
On August 10, 2022, Chinese media outlet Sina Tech cited multiple sources as saying that BYD's blade battery supplies to Tesla had begun to be delivered to the latter's plant in Berlin, Germany, the first Tesla Gigafactory to apply BYD batteries.
On March 13, South Korea's Korea Economic Daily reported that Tesla had decided not to use BYD's batteries due to quality problems caused by a series of fire incidents with the latter's LFP batteries.
A BYD spokesperson, responding to CnEVPost's request for comment at the time, said the information was untrue and not in line with the actual situation.
Tesla CEO Elon Musk later also tweeted that the media report was false and that Tesla's relationship with BYD was positive.
BYD is not only the largest new energy vehicle (NEV) in China, but also one of the largest battery manufacturers in the world.
BYD installed 21.5 GWh of power batteries in the first quarter, ranking second in the world with a 16.2 percent share, according to data released by South Korean market research firm SNE Research on May 3.
CATL continued to rank first in the world with a 35.0 percent share in the first quarter, and was the only one with a share of more than 30 percent.
BYD says report that Tesla won't extend battery supply partnership with it untrue
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NIO will officially launch the new ES6 and announce the price on May 24, with deliveries expected to begin within days of the launch, according to local media. | NIO US | NIO HK | NIO SG
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NIO (NYSE: NIO) unveiled the new ES6 on the first day of the Shanghai auto show on April 18, but did not announce an official launch date or price. Now, a new report provides additional information.
The new ES6 will be officially launched on May 24, and its price information will be announced at that time, local auto industry media D1EV reported on Thursday after visiting several NIO stores in Beijing.
The model's show cars will be available at NIO stores from the day of launch, and consumers who have recently reserved the car will be invited to test drive it in batches, according to the report.
Compared to the old ES6, the new model will keep only in the Sport version, with the previously available higher-priced Performance and Signature versions optimized to become the new ES7 model currently on sale, the report said.
Deliveries of the new ES6 will begin at the end of May, the report said, citing salespeople at NIO stores.
William Li, founder, chairman and CEO of NIO, unveiled the 2023 ET7 sedan and gave the debut of the new ES6 SUV based on the NT 2.0 platform at a brief launch event on the first day of the Shanghai auto show on April 18.
Li did not announce the SUV's exact specifications or pricing at the time, saying only that the model's official launch would be in late May.
Nevertheless, NIO has already started allowing consumers to reserve the model with a RMB 5,000 deposit.
In an interview with local media at the time, Li said that the delivery schedule for the new ES6 would be different from NIO's previous models and that deliveries would begin soon after the launch.
Pricing information for the new ES6 has not been released, and Li said in that interview that NIO would not engage in a price war, so the model's price would not be set particularly low.
For reference, the old ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000 ($55,840), 426,000 and 496,000 respectively.
For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs.
From January to August 2022, 32,877 ES6 units were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units during the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).
The new ES6 is now widely seen as being powerfully equipped and competitively priced, which has sparked discontent among some owners who previously purchased the ES7 SUV.
Last month, several ES7 owners formed a WeChat group to collectively express their dissatisfaction that the upcoming new ES6 means NIO has betrayed them.
Launched on June 15, 2022, the NIO ES7 is the company's second model based on the NT 2.0 platform and the first SUV on the second-generation platform.
The NIO ES7 is currently offered in two versions, priced at RMB 468,000 and 548,000 including the battery. If consumers choose to purchase using the battery rental service BaaS, the starting price is RMB 398,000.
NIO began deliveries of the ES7 on August 28, 2022, with a cumulative total of 15,123 units delivered by the end of January this year, according to data monitored by CnEVPost.
The NIO ES7 is similar in appearance and key specifications to the new NIO ES8, but smaller in size and less expensive. Previously, the model that sits behind the flagship ES8 in NIO's product array was the ES6.
Although NIO has not released information on the specifications of the new ES6, a regulatory filing in January has revealed the core specifications of the model.
The new NIO ES6 measures 4,854 mm in length, 1,995 mm in width and 1,703 mm in height, and has a wheelbase of 2,915 mm.
For comparison, the old ES6 is smaller, measuring 4,850 mm in length, 1,965 mm in width and 1,758/1,731 mm in height, with a wheelbase of 2,900 mm.
The new ES6 will be equipped with dual motors supplied by NIO's motor division XPT, with a maximum power of 150 kW and 210 kW respectively, the same as the ET5 sedan.
This specification is lower than the motors of the ES7, which has dual motors with a maximum power of 180 kW and 300 kW, respectively.
($1 = RMB 6.9120)
NIO suffers complaints from ES7 owners who believe upcoming new ES6 hurts their interests
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Starting May 5, Chinese consumers who order a new Model S or Model X and have the vehicle delivered by September 30 will receive the benefit.
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Tesla (NASDAQ: TSLA) is offering additional benefits to buyers of the new Model S and Model X while increasing the prices of the two models in China.
Starting May 5, consumers who order a new Model S or Model X and have the vehicle delivered on or before September 30 will receive three years of free supercharging benefits, according to information on Tesla's China website.
The benefits apply only to the buyer's Tesla account where the order is placed and may not be shared with any other vehicle under that account or transferred to any other vehicle or account, the information shows.
The benefit also terminates if the vehicle is transferred to another person, Tesla said.
If the order date is met, but the delivery date is after September 30, the consumer will not be able to receive the benefit.
The vehicle must be a non-operating vehicle to qualify for this benefit, otherwise the vehicle cannot acquire or maintain this benefit.
(Screenshot on May 5.)
Prices for the full lineup of new Model S and Model X models in China were raised today by RMB 19,000 ($2,750), or about 2 percent, according to the latest information on Tesla's China website.
On May 2, Tesla raised the prices of the full lineup of Model 3 and Model Y in China by RMB 2,000, or less than 1 percent.
The Model 3 now starts at RMB 231,900 in China, the Model Y at RMB 263,900, the Model S at RMB 808,900 and the Model X at RMB 898,900.
(1 $= 6.9067 RMB)
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Tesla raised the prices of the entire new Model S and Model X lineup in China by about 2 percent, following price increases for the locally produced Model 3 and Model Y three days ago.
(Image credit: CnEVPost)
Tesla (NASDAQ: TSLA) raised the prices of both of its more expensive models by about 2 percent in China, following a price hike three days ago for two less expensive locally produced models.
Prices for the new Model S and the entire Model X lineup were raised by RMB 19,000 ($2,750) in China, the latest information from Tesla's China website shows.
The latest starting price for the dual-motor all-wheel drive Model S in China is RMB 808,900, up RMB 19,000, or 2.41 percent, from RMB 789,900 previously, information monitored by CnEVPost shows.
The latest starting price for the tri-motor all-wheel drive Model S Plaid is RMB 1,028,900, up RMB 19,000, or 1.88 percent, from RMB 1,009,900 previously.
The latest starting price for the dual-motor all-wheel drive Model X is RMB 898,900, up RMB 19,000, or 2.16 percent, from RMB 879,900.
The new starting price for the tri-motor, all-wheel drive Model X Plaid is RMB 1,058,900, up RMB 19,000, or 1.83 percent, from RMB 1,039,900.
The expected delivery dates in China for both the new Model S and the full line of Model X models are the second quarter, the same as before, information on Tesla's China website shows.
(Screenshot on May 5.)
On May 2, Tesla just raised the prices of its full lineup of Model 3 and Model Y in China, a less than 1 percent increase that means the move is more aimed at dispelling consumer wait-and-see sentiment.
Tesla has a factory in Shanghai that makes the Model 3 and Model Y, and their prices in China were all raised by 2,000 yuan at the time.
The company currently offers two versions of the Model 3 in China -- the rear-wheel-drive Model 3 and the dual-motor all-wheel-drive Model 3 Performance -- and three versions of the Model Y -- the entry version Model Y, Model Y Long Range, and Model Y Performance.
The two versions of the Model 3 currently start at RMB 231,900 and RMB 331,900 respectively, while the three versions of the Model Y start at RMB 263,900, RMB 313,900 and RMB 363,900 respectively.
Last month, Tesla lowered the prices of the Model 3 and the Model Y in several markets around the world, raising concerns about whether it would lower prices in China.
Tesla's move to raise the prices of all available models in China this week could help dispel some potential consumers' wait-and-see sentiment, which could benefit sales in the near term.
The electric vehicle maker delivered 76,663 vehicles in China in March and exported 12,206 from its Shanghai plant, according to the China Passenger Car Association (CPCA). April figures are expected to be available within days.
($1 = RMB 6.9067)
| Date | Model | Prev Price | Change (RMB) | % | Latest Price |
|---|---|---|---|---|---|
| May 5, 2023 | Model S | 789,900 | 19,000 | 2.41% | 808,900 |
| May 5, 2023 | Model S Plaid | 1,009,900 | 19,000 | 1.88% | 1,028,900 |
| May 5, 2023 | Model X | 879,900 | 19,000 | 2.16% | 898,900 |
| May 5, 2023 | Model X Plaid | 1,039,900 | 19,000 | 1.83% | 1,058,900 |
| May 2, 2023 | Model 3 | 229,900 | +2,000 | 0.87% | 231,900 |
| May 2, 2023 | Model 3 Performance | 329,900 | +2,000 | 0.61% | 331,900 |
| May 2, 2023 | Model Y | 261,900 | +2,000 | 0.76% | 263,900 |
| May 2, 2023 | Model Y Long Range | 311,900 | +2,000 | 0.64% | 313,900 |
| May 2, 2023 | Model Y Performance | 361,900 | +2,000 | 0.55% | 363,900 |
| Feb 17, 2023 | Model Y Performance | 359,900 | +2,000 | 0.56% | 361,900 |
| Feb 17, 2023 | Model Y Long Range | 309,900 | +2,000 | 0.65% | 311,900 |
| Feb 10, 2023 | Model Y | 259,900 | +2,000 | 0.77% | 261,900 |
| Jan 6, 2023 | Model X Plaid | New | NA | NA | 1,039,900 |
| Jan 6, 2023 | Model X | New | NA | NA | 879,900 |
| Jan 6, 2023 | Model S Plaid | New | NA | NA | 1,009,900 |
| Jan 6, 2023 | Model S | New | NA | NA | 789,900 |
| Jan 6, 2023 | Model Y Performance | 397,900 | -38,000 | -9.55% | 359,900 |
| Jan 6, 2023 | Model Y Long Range | 357,900 | -48,000 | -13.41% | 309,900 |
| Jan 6, 2023 | Model Y | 288,900 | -29,000 | -10.04% | 259,900 |
| Jan 6, 2023 | Model 3 Performance | 349,900 | -20,000 | -5.72% | 329,900 |
| Jan 6, 2023 | Model 3 | 265,900 | -36,000 | -13.54% | 229,900 |
| Oct 24, 2022 | Model Y Performance | 417,900 | -20,000 | -4.79% | 397,900 |
| Oct 24, 2022 | Model Y Long Range | 394,900 | -37,000 | -9.37% | 357,900 |
| Oct 24, 2022 | Model Y | 316,900 | -28,000 | -8.84% | 288,900 |
| Oct 24, 2022 | Model 3 Performance | 367,900 | -18,000 | -4.89% | 349,900 |
| Oct 24, 2022 | Model 3 | 279,900 | -14,000 | -5.00% | 265,900 |
| June 17, 2022 | Model Y Long Range | 375,900 | +19,000 | 5.05% | 394,900 |
| Mar 17, 2022 | Model Y | 301,840 | +15,060 | 4.99% | 316,900 |
| Mar 15, 2022 | Model Y Performance | 397,900 | +20,000 | 5.03% | 417,900 |
| Mar 15, 2022 | Model Y Long Range | 357,900 | +18,000 | 5.03% | 375,900 |
| Mar 15, 2022 | Model 3 Performance | 349,900 | +18,000 | 5.14% | 367,900 |
| Mar 15, 2022 | Model 3 | 265,652 | +14,248 | 5.36% | 279,900 |
| Mar 10, 2022 | Model Y Performance | 387,900 | +10,000 | 2.58% | 397,900 |
| Mar 10, 2022 | Model Y Long Range | 347,900 | +10,000 | 2.87% | 357,900 |
| Mar 10, 2022 | Model 3 Performance | 339,900 | +10,000 | 2.94% | 349,900 |
| Dec 31, 2021 | Model Y | 280,752 | +21,088 | 7.51% | 301,840 |
| Dec 31, 2021 | Model 3 | 255,652 | +10,000 | 3.91% | 265,652 |
| Nov 24, 2021 | Model Y | 276,000 | +4,752 | 1.72% | 280,752 |
| Nov 24, 2021 | Model 3 | 250,900 | +4,752 | 1.89% | 255,652 |
| Nov 19, 2021 | Model 3 | 235,900 | +15,000 | 6.36% | 250,900 |
| Oct 27, 2021 | Model S Long Range | 859,990 | +30,000 | 3.49% | 889,990 |
| Oct 27, 2021 | Model X Long Range | 909,990 | +30,000 | 3.30% | 939,990 |
| Sept 11, 2021 | Model Y Performance | 377,900 | +10,000 | 2.65% | 387,900 |
| Aug 4, 2021 | Model S Long Range | 829,990 | +30,000 | 3.61% | 859,990 |
| Aug 4, 2021 | Model X Long Range | 879,990 | +30,000 | 3.41% | 909,990 |
| Jul 30, 2021 | Model 3 | 250,900 | -15,000 | -5.98% | 235,900 |
| Jul 16, 2021 | Model S Long Range | 799,990 | +30,000 | 3.75% | 829,990 |
| Jul 16, 2021 | Model X Long Range | 849,990 | +30,000 | 3.53% | 879,990 |
| Jul 8, 2021 | Model Y | NA | New | NA | 276,000 |
| May 8, 2021 | Model 3 | 249,900 | +1,000 | 0.40% | 250,900 |
| Mar 24, 2021 | Model Y Long Range | 339,900 | +8,000 | 2.35% | 347,900 |
| Mar 24, 2021 | Model Y Performance | 369,900 | +8,000 | 2.16% | 377,900 |
| Jan 1, 2021 | Model Y Long Range | New | NA | NA | 339,900 |
| Jan 1, 2021 | Model Y Performance | New | NA | NA | 369,900 |
| Jan 1, 2021 | Model 3 Performance | New | NA | NA | 339,900 |
| Oct 1, 2020 | Model 3 | 271,600 | -21,700 | -7.99% | 249,900 |
| Oct 1, 2020 | Model 3 Long Range | 344,050 | -34,150 | -9.93% | 309,900 |
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Its CLTC cruising range will be 303 km.
The post Baojun Yep electric off-road vehicle will launch in June with five body colors appeared first on CarNewsChina.com.
BYD is the biggest car maker in China and the second biggest battery producer globally.
The post Tesla started production of Model Y with BYD battery in German Gigafactory, according to a report appeared first on CarNewsChina.com.
With sales near the low end of guidance, Li Auto's performance in the first quarter is expected to be somewhat mixed, but the outlook for delivery in the second quarter will be robust, according to Edison Yu's team. | Li Auto US | Li Auto HK
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Li Auto (NASDAQ: LI) will report its unaudited financial results for the first quarter on Wednesday, May 10, before the US markets open. As usual, Deutsche Bank analyst Edison Yu's team provided their preview.
Li Auto continues to be the best-performing Chinese electric vehicle stock this year, which is well deserved, though it is expected to have a somewhat mixed quarter as sales approached the lower end of the original outlook, Yu's team said in a research note sent to investors today.
The automaker's management team took advantage of strong initial orders from customers in the premium SUV segment to quickly increase deliveries of new models, the team noted.
Yu's team expects a robust delivery outlook for Li Auto in the second quarter, supported by wide availability of the Li L7 and lower-priced versions of the Li L7 and Li L8.
"Positioning-wise, Li Auto remains the clear favorite in the group and likely stays there unless evidence of softening demand emerges later in the year," the team wrote.
Yu's team expects Li Auto to report revenue of RMB 17.7 billion yuan in the first quarter, with a gross margin of 20.7 percent and adjusted earnings per share of 0.40.
The team's model assumes an increase in operating expenses relative to the fourth quarter.
This compares to the current analyst consensus estimates of RMB 18.9 billion, 20.5 percent and 0.49, respectively, in a Bloomberg survey.
Yu's team expects Li Auto's vehicle margin to increase by just 50 basis points sequentially, as average selling prices come under some pressure.
Li Auto delivered a record 52,584 vehicles in the first quarter, near the lower end of its previously provided guidance range of 52,000 to 55,000 vehicles.
Its revenue guidance for the first quarter was RMB 17.45 billion to RMB 18.45 billion, implying year-on-year growth of 82.5 percent to 93 percent.
For second-quarter delivery guidance, Yu's team expects Li Auto's management to target around 75,000 units, supported by deliveries of the Li L7 throughout the quarter and wide availability of the cheaper Air versions of the Li L7 and Li L8.
Li Auto launched the Li L7, its first five-seat SUV, on February 8.
The Li L7 is the least expensive in its product array, with Pro as well as Max versions starting at RMB 339,800 and 379,800 respectively. The Li L7 is available in a lower-priced Air version, starting at RMB 319,800.
Deliveries of the Li L7 Pro and the Li L7 Max began on March 11, and deliveries of the Li L7Air began in late April.
Li Auto is also offering an Air version of the Li L8, with a starting price of RMB 339,800. The Li L8 was previously available in Pro and Max versions with starting prices of RMB 359,800 and RMB 399,800, respectively.
Li Auto's other model, the flagship Li L9, is currently available only in the Max version, with a starting price of RMB 459,800.
Compared to NIO (NYSE: NIO), Li Auto has launched its latest model very efficiently, capturing the initial wave of demand, which is very important in a highly competitive market driven increasingly by product cycles, Yu's team said.
In terms of gross margin, the team expects improvement on a sequential basis as production scales up and battery input costs fall.
Li Auto CFO is conservatively aiming for a gross margin of above 20 percent, given battery costs and a volatile macro backdrop, Yu's team noted, adding that they see 22 percent-23 percent as more realistic, with further upside dependent on battery input costs and average selling prices.
The real test for the company will come later this year, when it will struggle to maintain demand momentum with its three relatively large EREV SUVs in the face of increased competition, the team said.
Some cannibalization will naturally occur among Li Auto's models, but that will likely be offset by share gains from legacy foreign brands, Yu's team said.
The Li L9 sales have already dropped from 10,582 units in December to 5,831 units in March. Since September, foreign brands have lost about 7 percentage points of market share in the premium SUV segment, the team said.
The slow recovery in Chinese auto sales in recent months is something Yu's team attributes to customers prioritizing spending elsewhere after the Covid reopening and recognizing that car prices could fall further, and therefore not rushing to buy.
China's car sales have been slow to recover in recent months, and Yu's team attributes that to customers prioritizing spending elsewhere after the Covid reopening and recognizing that car prices could fall further and therefore not rushing to buy.
In terms of positioning, Li Auto remains the most popular of the Chinese EV startups and is likely to stay there unless there are signs of softening demand or a decline in execution, the team said.
Li Auto CEO predicts China NEV penetration to exceed 80% by Dec 2025
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The Xpeng H93's interior was spied in China for the first time with a floating screen and minimalistic design.
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