Tagged: China

NIO upgrades Power Up Plan to Power Journeys, ramping up efforts in charging network

NIO will add an additional 20 charging routes under the Power Journeys plan this year, after having completed 52 routes.

NIO upgrades Power Up Plan to Power Journeys, ramping up efforts in charging network-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) has upgraded a program designed to improve the travel experience for electric vehicle owners, after opening dozens of destination charging routes over the past three years.

The electric vehicle (EV) maker announced on the first day of the Shanghai auto show on April 18 that it is upgrading its Power Up Plan to Power Journeys and will continue its push to build out charging facilities.

With NIO's plan to add 1,000 battery swap stations and 10,000 charging piles this year, Power Journeys will meet the charging demand of more customers, said William Li, the company's founder, chairman and CEO, in a brief release.

NIO will add an additional 20 charging routes under the Power Journeys plan this year, covering areas including the Silk Road, southeastern Guizhou and the Xilin Gol grasslands.

NIO announced the Power Up Plan during the Beijing auto show in September 2020, with the aim of deploying destination DC charging piles in popular travel, leisure and business destinations to form a nationwide charging network.

According to the plan, NIO's ultimate goal is to deploy more than 30,000 destination charging piles in China.

To achieve this goal, NIO previously said it would provide a total of RMB 100 million in construction and operation subsidies to all partners who are willing to share resources and waive service fees for NIO users, with an average subsidy of RMB 1,000 per charging post per year for three years.

Up to now, NIO has completed 52 destination charging routes.

The routes are popular with users and have validated NIO's thinking, Li said, adding that the company has decided to deploy more charging and battery swap facilities next in places with poor infrastructure.

Li said NIO wants Power Journeys to meet users' needs for energy replenishment, so that where gasoline cars can go electric vehicles can go, too.

For NIO, ramping up infrastructure is one of its key tools to enhance the appeal of its vehicles, with deliveries of its NT 2.0 platform-based models all set to begin in the coming months.

Up to 70 percent of NIO owners are in China's first- and second-tier cities, and for the less developed third- and fourth-tier cities, the company is looking to expand with battery swap stations rather than showrooms that include NIO Houses as well as NIO Spaces, its co-founder and president Qin Lihong said last month.

NIO keeps goal of doubling sales this year despite price war causing greater challenges

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Neta GT sports car officially launched, priced from $26,000

Deliveries of the Neta GT will begin in the first half of the year, and are expected to allow consumers to gradually begin to change the perception of the brand as low-end.

Neta Auto, the electric vehicle brand of Hozon Auto, is making its first electric sports car available, with deliveries to begin in the next two months.

The Neta GT sports car was officially launched on the first day of the Shanghai auto show on April 18, with starting prices of RMB 178,800 ($26,000) to 227,800.

The car measures 4,715 mm in length, 1,979 mm in width and 1,415 mm in height, and has a wheelbase of 2,770 mm.

For comparison, Neta's flagship sedan, the Neta S, measures 4,980 mm in length, 1,980 mm in width, 1,450 mm in height and has a wheelbase of 2,980 mm. The Neta S currently has a starting price range of RMB 242,800 to RMB 341,800.

The Neta GT is available in single-motor and dual-motor versions, with the single-motor version powered by a permanent magnet synchronous motor with a maximum power of 170 kW.

Its dual-motor four-wheel drive version has a total maximum power of 340 kW and a maximum torque of 620 Nm, and takes 3.7 seconds to accelerate from 0 to 100 km/h.

The Neta GT's battery pack has three options -- 64.24 kWh, 74.48 kWh and 77.9 kWh -- and the CLTC range includes three versions -- 560 km, 580 km and 660 km, as shown in previous regulatory filings.

Its power battery suppliers include , Eve Energy, and battery types include lithium iron phosphate batteries as well as ternary batteries.

Hozon Auto CEO Zhang Yong said previously that the sports car will be mass-produced and delivered in the first half of 2023.

Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily for the low-end market.

The Neta S is Neta's first effort at the premium end of the market, and the release of the Neta GT is expected to allow consumers to gradually begin to change their perception of the brand at the low end.

In addition to the Neta GT, Neta also unveiled a model called the Neta GT Speedster, a convertible based on the Neta GT, at the Shanghai auto show.

Neta delivered 10,087 vehicles in March, essentially unchanged from 10,073 in February and down 16.12 percent from 12,026 in the same month last year, data previously released by the company showed.

($1 = RMB 6.8783)

Neta unveils two-door electric sports car Neta GT, deliveries expected in H1

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BYD secures preferential prices for lithium battery raw materials in Chile

BYD's project in Chile is designed to produce 50,000 tons of lithium iron phosphate cathode material per year, with an estimated investment of at least $290 million.

(Image credit: CnEVPost)

BYD received preferential prices for lithium carbonate in Chile, where it was awarded a lithium mining contract a year ago in the lithium-rich country.

After an evaluation process that began in November 2022, the Production Development Corporation, Corfo, assigned the status of specialized lithium producer to BYD Chile SpA, the Chilean development agency announced Wednesday.

As a result, BYD Chile SpA will access the preferential price for one of the lithium carbonate quotas available in the corresponding call base, up to 11,244 tons/year of battery grade lithium carbonate (Li2CO3), and a supply contract by SQM Salar SA until the year 2030, for its project BYD Chile Lithium Cathode Plant that will be installed in the Antofagasta Region, according to a statement.

The project is designed to produce 50,000 tons per year of lithium iron phosphate cathode material (LiFePO4) in Chile, using lithium carbonate as a raw material, with an expected investment of at least $290 million.

The project is expected to come into operation in late 2025, and during its investment phase it plans to create 500 jobs, the statement said.

On August 31, 2022, Corfo opened a call for companies to present proposals for the materialization of investment projects that allow the preparation and execution in Chile of lithium value-added products.

On November 7, 2022, the first application entered the call through the permanent application model and was declared admissible on November 22 and began to be evaluated according to the different dimensions and factors described in the basis of the call, the statement said.

This follows the award of one of the five lithium mining contracts to BYD Chile SpA in January last year.

BYD, China's largest maker of new energy vehicles (NEVs), is also one of the largest manufacturers of power batteries.

BYD's power battery installed base in China in March was 7.40 GWh, ranking second with a 26.65 percent share, according to data released earlier this month by the China Automotive Battery Innovation Alliance (CABIA).

's power battery installed base in March was 12.49 GWh, continuing to rank first with a 44.95 percent share.

NIO enters race for lithium with Australian investment

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Insurance registrations for week ending Apr 16: Tesla 12,500, Li Auto 6,300, NIO 700

NIO's weak performance may be because it is on the eve of multiple product switches, as it will begin deliveries of the new ET7, new ES6, EC7 in May and will begin deliveries of the new ES8 in June.

(NASDAQ: TSLA) and (NASDAQ: LI) kept sales strong last week, while NIO (NYSE: NIO) was weak, the latest data show.

Li Auto sold 6,300 units in the week of April 10 to April 16, far outpacing China's other new car-making brands, the automaker said in an April 19 post to its WeChat account.

Li Auto didn't say what the sales figure was based on, but it was apparently insurance registrations. Previously, we had access to the data every Tuesday, and Li Auto's practice was to share some of it on Wednesdays.

The main source that provides data on auto insurance registrations in China stopped sharing that data this month, but Li Auto continues to share some of it.

Tesla sold 12,500 units last week, according to the data table shared by Li Auto. Tesla's sales in the previous week were 6,973, according to data previously shared by Li Auto.

NIO sold about 700 units last week, according to the data. The electric vehicle maker sold 1,316 units in the previous week.

NIO's weak performance may be because it is on the eve of multiple product switches. It launched the new ET7 and unveiled the new ES6 on the first day of the Shanghai auto show on April 18, with deliveries both set to begin in May.

In addition to the new ET7 and the new ES6, NIO will also start delivering the EC7 coupe SUV in May and will start delivering the new ES8 in June, according to plans it previously annouced.

sold 1,300 units last week, up from 904 units the week before, according to data shared by Li Auto. XPeng unveiled the new SUV G6 on the first day of the Shanghai auto show on April 18, but pricing information is unknown.

sold 1,600 units last week, up from 1,476 the week before. Leapmotor sold 1,700 units last week, up from 1,157 the week before. Neta sold 1,800 units last week, up from 1,526 the week before.

Among premium brands, BMW sold 14,500 cars last week including internal combustion engine vehicles as well as NEVs, Mercedes-Benz 13,400 and Audi 12,600, according to data shared by Li Auto.

Separately, retail sales of NEVs in China from April 1-16 were 223,000 units, up 89 percent year-on-year and up 13 percent from the same period last month, according to data released yesterday by the China Passenger Car Association (CPCA).

Considering that NEV retail sales were 91,000 from April 1 to April 9, this means that during the week of April 10 to April 16, NEV retail sales in China were 132,000 units, up 45 percent from the previous week.

From April 10-16, retail sales of all passenger vehicles in China were 335,328 units, up 80 percent year-on-year and up 23 percent from the same period last month, according to the CPCA.

Insurance registrations for week ending Apr 9: Tesla 6,973, Li Auto 4,177, NIO 1,316

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VW to set up new €1 billion firm in China that promises to shorten product development time by 30%

The new company, 100%TechCo, is scheduled to be operational in early 2024 and will have more than 2,000 procurement and R&D staff in the future.

VW to set up new €1 billion firm in China that promises to shorten product development time by 30%-CnEVPost

(Image credit: Volkswagen China)

German auto giant Volkswagen is increasing its investment in China to stay relevant in the world's most competitive electric vehicle market.

Volkswagen is investing around 1 billion euros ($1.1 billion) in a new company with the project name "100%TechCo"in Hefei, Anhui province in eastern China, according to a press release from the company yesterday.

The new company will focus on the development, innovation and procurement of smart connected electric vehicles, with functions including vehicle and component development, and is expected to reduce the development times of new products and technologies by about 30 percent, the release said.

The new company, which is scheduled to be operational in early 2024, will comprise more than 2,000 employees from procurement and R&D, with Marcus Hafkemeyer, Chief Technology Officer of Volkswagen Group China, as CEO.

The establishment of 100%TechCo is a milestone in Volkswagen's "in China for China" strategy, the automaker said.

VW to set up new €1 billion firm in China that promises to shorten product development time by 30%-CnEVPost

The new company will integrate advanced technologies from local suppliers at an early stage of product development, enabling model offerings to be more responsive to Chinese customer needs, it said.

The 100%TechCo will also help bring Volkswagen's joint ventures in China -- SAIC Volkswagen, FAW Volkswagen and VW Anhui -- into closer synergy with their R&D programs and optimize profitability, according to the release.

At the Shanghai auto show, which began yesterday, Volkswagen Group brands brought 20 electric models, including the ID.7, which made its world debut.

By 2030, Volkswagen will have more than 30 all-electric models across its brands, it said.

(1 $= EUR 0.9113)

VW joins China auto price war, offers up to $5,820 discount on ID. series EVs

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Polestar 4 launched in China with starting price of $50,870

The Polestar 4 went on sale in China on the first day of the Shanghai auto show with a starting price range of RMB 349,800 to 533,800, significantly higher than the Model Y.

(Image credit: Polestar)

Polestar 4, the new model from Polestar, the premium electric vehicle maker owned by Geely and Volvo Cars, went on sale in China with a starting price range that is higher than Tesla's Model Y.

Polestar launched the Polestar 4 yesterday on the first day of the Shanghai auto show, with a starting price range of RMB 349,800 ($50,870) to 533,800.

The car is available in six versions, including three single-motor versions with starting prices of RMB 349,800, 387,800 and 417,800 respectively, and three dual-motor versions with starting prices of RMB 453,800, 483,800 and 533,800 respectively.

This price range is significantly higher than that of the Model Y, currently the best-selling electric SUV in China, which is offered in three versions at RMB 261,900, 311,900, and 361,900.

The Polestar 4's single-motor rear-drive versions are powered by permanent magnet synchronous motors with a maximum power of 200 kW and a maximum torque of 343 Nm, accelerating from 0 to 100 km/h in 7.4 seconds.

Its dual-motor versions have two permanent magnet synchronous motors both with a maximum power of 200 kW at the front and rear, for a combined total of 400 kW, and accelerate from 0 to 100 km/h in 3.8 seconds.

For comparison, the entry-level rear-wheel-drive Tesla Model Y accelerates from 0-100 km/h in 6.9 seconds, the dual-motor all-wheel drive Model Y Long Range in 5.0 seconds, and the dual-motor all-wheel drive Model Y Performance in 3.7 seconds.

The Polestar 4 is available in two battery packs, with capacities of 88 kWh and 102 kWh, the former being used in the two least expensive versions and the latter in the other four versions.

The Polestar 4 has a CLTC range of 612 km to 709 km.

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

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

Polestar made the Polestar 3 SUV's 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.

On March 17, Polestar officially unveiled the Polestar 3 in China at a price that is nearly RMB 200,000 lower than the model's international debut last year.

($1 = RMB 6.8760)

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

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