Tagged: China

Geely Galaxy launches 1st model L7 to gain share in hybrid market

The Galaxy L7 is available in five versions with a starting price of RMB 138,700, or about $19,500.

(Image credit: Geely Galaxy)

Geely Galaxy, the new energy vehicle (NEV) sub-brand of Geely Auto Group, has made its first model, the L7, available to gain share from the plug-in hybrid market.

Geely Galaxy officially made the L7 available in China at a launch event yesterday, offering five versions with starting prices of RMB 138,700 ($19,500), RMB 143,700, RMB 153,700, RMB 163,700, and RMB 173,700, respectively.

The Geely Galaxy L7 is a hybrid SUV with a length, width and height of 4,700 mm, 1,905 mm and 1,685 mm, respectively, and a wheelbase of 2,785 mm.

Based on the e-CMA architecture, the vehicle is powered by a 1.5T four-cylinder engine with a combined maximum system power of 287 kW and a combined maximum torque of 535Nm and can accelerate from 0 to 100 km/h in 6.9 seconds.

The Geely Galaxy L7 has two battery range options, with a CLTC pure electric range of 55 km and 115 km respectively. The model has a combined range of up to 1,370 km on full fuel and full charge.

The car is powered by a 1.5T engine with a thermal efficiency of 44.26 percent, ranking first among known production engines, said Geely Galaxy.

The Geely Galaxy L7 supports fast charging and external discharge, taking 30 minutes to replenish energy from 30 percent to 80 percent.

The vehicle uses the Qualcomm Snapdragon 8155 chip, the cockpit chip currently used in mainstream flagship electric vehicles in the Chinese market.

First deliveries of the L7 will begin on June 13, Geely Galaxy said.

Geely Auto Group officially launched the new Geely Galaxy brand on February 24 and unveiled its first production model, the L7.

Geely Galaxy plans to launch a total of seven models by 2025, including four plug-in hybrids in the L-series and three all-electric models in the E-series.

Geely Galaxy will launch the L6 in the third quarter of 2023, the L5 in the second quarter of 2024, and will launch the L9 in 2025.

In the all-electric product sequence, Geely Galaxy will launch the Galaxy E8 in the fourth quarter of 2023, the Galaxy E7 in the second quarter of 2024, and the Galaxy E6 in the third quarter of 2024.

Geely Auto Group CEO Gan Jiayue said in January that the group's sales target for 2023 is 1.65 million vehicles, including 600,000 NEVs.

Geely Auto Group sold 1.43 million vehicles in 2022, up 8 percent from a year earlier, including about 330,000 NEVs, according to data monitored by CnEVPost.

In April, the group sold 113,642 vehicles, up 3 percent from 110,300 in March, according to data it released last month.

($1 = RMB 7.1116)

Geely Galaxy brand officially launched, to roll out 7 models by 2025

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NIO ET5 wait time becomes longer, EC7 and ES7 shorter

The ET5 wait time has changed from 2-3 weeks to about 3 weeks, the EC7 from 5-7 weeks to about 5 weeks, and the ES7 from about 4 weeks to about 3 weeks.  |  NIO US | NIO HK | NIO SG

(Image credit: CnEVPost)

NIO (NYSE: NIO) has three models that saw their wait times change today, with one becoming longer and the other two becoming shorter.

The ET5 -- NIO's cheapest model currently on sale -- has an updated wait time of about 3 weeks, slightly higher than the previous 2-3 weeks, the latest check by CnEVPost shows.

The sedan's wait time last changed on May 16, when it went from about two weeks to 2-3 weeks.

The latest wait time for the NIO ES7 SUV is about 3 weeks, a week shorter than the previous wait time of about 4 weeks. The last change in the wait time for the model was on May 9, when it went from about 3 weeks to about 4 weeks.

NIO launched the ES7 on June 15, 2022, the company's second model based on the NT 2.0 platform after the ET7 and the first SUV on the second-generation platform.

The first delivery of the NIO ES7 was on August 28, 2022. The company does not disclose deliveries of the ES7 when it announces delivery figures each month.

The wait time for NIO's new coupe SUV EC7 changed to about 5 weeks today, down from the previous 5-7 weeks. The last change in the model's wait time was on May 16, when it went from about 5 weeks to 5-7 weeks.

The EC7 was launched on NIO Day 2022 on December 24, 2022, with the first delivery on April 28 of this year.

Except for ET5, EC7 and ES7, the expected delivery dates of other NIO models remain unchanged today.

Deliveries of the new ES8 will begin in June, the wait time for the new ES6 is still not shown, and the ET7 is about 3 weeks, information from the NIO App monitored by CnEVPost shows.

Data table: Latest wait times for NIO models

(Screenshots on June 1.)

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Former XPeng exec joins NIO as head of navigation division, report says

Former Internet center vice general manager Liu Fanfan has joined as head of the navigation and location services division, according to local media.

(Image credit: CnEVPost)

NIO (NYSE: NIO) appears to be attracting a lot of XPeng (NYSE: XPEV) talent, and the trend continues.

Liu Fanfan, formerly vice general manager of XPeng's Internet center, has joined NIO as head of its navigation and location services division, local media outlet LatePost reported today.

Liu reports to Zhang Lei, NIO's vice president of digital cockpit and software development, and is also the head of smart cockpit delivery for NIO's NT 3.0 platform models, according to the report.

NIO is phasing out the NT 1.0 platform and transitioning its models to the NT 2.0 platform. The company's sub-brand models, which it plans to begin delivering next year, will be based on the next-generation NT 3.0 platform, according to the previously announced information.

Liu, who has worked for in-car navigation provider Telenav for more than 10 years, joined XPeng in March 2018 and was responsible for the map navigation, in-car systems and app ecosystem business at the Internet center.

During his time at the company, XPeng Internet center developed the in-car system Xmart OS, which debuted on the XPeng G3 in late 2018.

Xmart OS was upgraded to version 2.1.0 in October 2020, and introduced a full-scene voice interaction feature that allows control of 90 percent of XPeng's in-house developed applications by voice, the report noted.

XPeng's team expanded rapidly after its Hong Kong listing in June 2021, growing to nearly 14,000 people by the end of 2021, more than twice the size of the team at the end of 2020.

However, XPeng's team has undergone significant restructuring in 2022, with many of its mid-level R&D staff and executives leaving to join NIO between last year and this year, the LatePost report noted.

Last April, Harry Wong, formerly XPeng's director of self-driving products, officially joined NIO to take charge of the self-driving experience.

On September 6 last year, local automotive website Xchuxing reported that the former XPeng's head of voice recognition, Zhao Hengyi, had left in March and he would join NIO.

LatePost reported today that Zhao joined NIO ahead of Liu and is responsible for businesses including virtual voice assistant Nomi, reporting to Ted Li, NIO's head of product experience.

NIO kicks off preparations for NIO Day 2023

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Neta sees 300,000th production vehicle roll off line

delivered 11,080 vehicles in April, bringing its cumulative deliveries since inception to 285,305, according to data monitored by CnEVPost.

(Image credit: Neta)

Neta Auto, the electric vehicle (EV) brand of Hozon Auto, saw its 300,000th production vehicle roll off the line today, marking an important milestone in the company's history.

Neta saw its 100,000th vehicle roll off the line in January 2022. The company delivered 152,073 vehicles last year, up 118.26 percent year-on-year.

The latest milestone comes 16 months after it rolled off the line its 100,000th vehicle.

Neta has been seen as a budget EV maker since its inception in 2014, as its vehicles are priced primarily at the lower end of the market, with the previous main sellers Neta V and Neta U priced at around 100,000 yuan ($14,080).

Neta's flagship sedan, the Neta S, is its first effort at the premium end of the market, with the model primarily targeting a price range of RMB 200,000 to 300,000.

The Neta GT sports car was launched on April 18 with a starting price of RMB 178,800 to RMB 227,800.

Neta delivered 11,080 vehicles in April, bringing its cumulative deliveries since its inception to 285,305 units, data monitored by CnEVPost shows.

The company is expected to announce May's delivery figures on June 1.

Neta is targeting sales of 300,000 units in 2023, local media China Securities Journal reported on February 7.

Neta opened its global headquarters in Shanghai on May 29, as it tries to build a more premium brand image.

Previously it had a Shanghai headquarters in the Minhang district of Shanghai. It has a design center in Beijing and a factory in Tongxiang, Zhejiang province.

($1 = RMB 7.1037)

Neta begins deliveries of electric sports car Neta GT, less than 1 month after launch

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Cost advantage of sodium-ion batteries decreases as lithium prices fall

With the price of battery-grade lithium carbonate falling back to around RMB 300,000 per ton, the cost advantage of sodium batteries is seen as no longer prominent.

The dramatic rise in lithium carbonate prices over the past few years has led many to look to the lower cost of sodium-ion batteries.

However, with the prolonged decline in the price of lithium carbonate, a key raw material for lithium-ion batteries, earlier in the year, the cost advantage of sodium-ion batteries is seen as having diminished significantly.

Battery-grade lithium carbonate surged in 2022, with prices once topping RMB 600,000 (84,400) per ton, and in this context, sodium-ion batteries were highly sought after, the Shanghai Securities News noted in a report today.

However, very few models are confirmed to carry sodium-ion batteries this year, with only Chery's iCar, Sehol E10X and Jiangling EV3 having been the few ones, the report said.

Meanwhile, the price of battery-grade lithium carbonate has fallen back to around RMB 300,000 per ton, and the cost advantage of sodium batteries is no longer prominent, the report said.

Lithium carbonate price in China rose to about RMB 600,000 per ton at one point in November 2022, about 14 times the average RMB 41,000 per ton price in June 2020.

After that, however, lithium carbonate price began to decline until a month ago, when it finally stopped falling.

Prior to April 21, lithium carbonate price had not seen a single day of gains in China this year, falling about 65 percent since the beginning of the year.

Battery-grade lithium carbonate today averaged RMB 305,000 per ton in China, while industrial-grade lithium carbonate stood at RMB 290,000 per ton, according to data from Mysteel.

The battery industry chain has been actively developing sodium-ion batteries in recent years, and currently has mass production capabilities, but the feedback from the demand side is not positive, the China Passenger Car Association (CPCA) said in a report on May 22.

Sodium-ion batteries are still in the early stages of industrialization, and their cost advantages cannot be fully exploited at this time due to controversial core technology routes, inadequate supply chain preparation, and immature production processes, the CPCA said.

Sodium-ion's abundant resource reserves are difficult to quickly translate into cost advantages, and when the cost of lithium iron phosphate batteries is rapidly declining, automakers are hardly motivated to choose to carry sodium-ion batteries in the short term, according to the CPCA.

Nevertheless, the development of the sodium-ion industry chain in China continues.

There are currently more than 35 sodium-ion battery manufacturers in China in the interim-testing stage, with another 50 or more in the lab stage, Shanghai Securities News said, citing data from local think tank GGII.

Companies able to provide samples are expected to exceed 20 in the first half of 2023, and more than five companies will achieve mass production of sodium-ion batteries in the second half of the year, according to the report.

The sodium-ion battery industry chain is not yet mature, and it will take at least two to three years for the industry to really move toward industrialization, said Chen Liangqin, director of local lithium battery maker Veken Technology, as quoted by Shanghai Securities News.

($1 = RMB 7.1032)

Battery-grade lithium carbonate price up by RMB 2,500 per ton

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BYD launches 2023 Yuan Pro SUV with prices starting at $13,500

The Yuan family of models sold 39,160 units in April, making it the second highest-selling model for the month.  |  BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) today officially launched the 2023 Yuan Pro, a compact SUV originally rolled out by BYD in March 2021.

The improved version of the Yuan Pro is offered in three versions with starting prices of RMB 95,800 ($13,500), RMB 105,800 and RMB 113,800 respectively.

BYD started the pre-sale for the 2023 Yuan Pro on April 7, when the pre-sale prices for these three versions were RMB 99,800, RMB 109,800 and RMB 119,800 respectively.

Compared with the pre-sales, the launch prices of the three versions of the 2023 Yuan Pro has been reduced by RMB 4,000, RMB 4,000 and RMB 6,000 respectively.

The model's length and height are 4,375 mm, 1,785 mm and 1,680 mm respectively, with a wheelbase of 2,535 mm.

It continues the Dragon Face 3.0 design language of the previously available model.

The 2023 Yuan Pro is based on the BYD e-Platform 3.0 and features an electric motor with a maximum power of 70 kW and a maximum torque of 180 Nm, accelerating from 0 to 50 km/h in 4.9 seconds.

The car offers two range versions, with a CLTC range of 320 km and 401 km, respectively. It is equipped with a lithium iron phosphate battery pack with a capacity of 38 kWh and 47.04 kWh, respectively.

The 2023 BYD Yuan Pro supports DC fast charging, which can replenish energy from 30 percent to 80 percent in 30 minutes.

The previously available BYD Yuan Pro was launched on March 21, 2021, when two versions were offered at a subsidized price of RMB 121,300 and RMB 131,400, respectively.

China's purchase subsidies for new energy vehicles (NEVs) end at the end of 2022, and the country's purchase tax exemption for such models was extended until the end of this year.

BYD sold 210,295 NEVs in April, up 98.31 percent from 106,042 units in the same month last year and up 1.55 percent from 207,080 units in March, according to data released on May 2.

Yuan family models sold 39,160 units in April, the second-highest-selling BYD model for the month, according to data monitored by CnEVPost. This represents a 158.18 percent year-on-year increase, but a 3.07 percent decrease from March.

The Yuan family of models includes the Yuan Pro as well as the Yuan Plus, for which breakdown sales figures are not available.

The Qin family of models sold a record 42,202 units in April, making it the highest-selling BYD model for the month.

($1 = 7.1036 RMB)

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

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