Tagged: China

Prominent economist suggests China ban fuel car sales in 5 years

Independent economist Ren Zeping has suggested that China introduce a timetable to ban the sale of fuel cars within five years and have regions south of Hebei actively develop the new energy sector.

(Image credit: CnEVPost)

A prominent economist is proposing that China should ban the sale of conventional fuel cars within five years, sparking widespread discussion on social media.

Independent economist Ren Zeping said on Weibo today that he suggested China introduce a timetable for a ban on fuel cars within five years and for the region south of Hebei to actively develop the new energy sector.

He hinted that this is a move China needs to make to reach its carbon peak and carbon-neutral targets, as well as to expand domestic demand.

The words have generated a lot of discussions, with many opposing voices in the Weibo comments section, some of whom say that fuel car production and sales could also expand domestic demand.

Ren used to work for China's national think tank, as chief macro analyst at Guotai Junan and chief economist at Evergrande Group. He is currently an independent economist and has set up his own studio.

China does not currently have a national timetable for banning fuel cars, although the southernmost province of Hainan did so last year.

A carbon peak implementation plan released by the provincial government on August 22, 2022, said that by 2030, the sale of fuel cars will be completely banned across Hainan.

By then, vehicles in Hainan's public services and operations will be fully powered by clean energy, except for special uses, the plan said, adding that 100 percent of new and replacement vehicles in the private sector will be new energy vehicles (NEVs).

The document does not specify, though in China, NEVs generally refer to pure electric vehicles, plug-in hybrids and fuel cell cars.

China previously set a goal of seeing NEVs contribute 25 percent of all new vehicle sales by 2025, but that goal was met ahead of schedule last year.

For the full year 2022, China sold 5.67 million new energy passenger vehicles at retail, contributing 27.6 percent of all passenger vehicle retail sales of 20.54 million units, according to the China Passenger Car Association (CPCA).

In April, China's retail sales of new energy passenger cars were 527,000 units, with a penetration rate of 32.3 percent.

By December 2025, NEVs will account for more than 80 percent of all new vehicle sales in China, Li Xiang, founder, chairman and CEO of (NASDAQ: LI), said on April 24.

Ren has previously posted bullish comments on China's NEV industry, saying on December 31, 2021, that the NEV industry will be the most promising replacement for the real estate, heavy industry and chemical sectors as the most important engine of growth for China's economy.

The NEV industry was growing at a rate of several times, bringing a fast-growing penetration rate, while taking into account the market size of the industries associated with it, a large number of fuel vehicles will be replaced by NEVs in the next decade or longer, he said at the time.

China's Hainan to completely ban sales of ICE vehicles by 2030

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Li Auto puts 2nd batch of 6 supercharging stations into operation

To date, Li Auto has 13 supercharging stations and aims to have more than 300 by the end of the year.  |  Li Auto US | Li Auto HK

(Image credit: Li Auto)

Li Auto (NASDAQ: LI) is continuing to build out its charging system, bringing a second batch of supercharging stations into operation.

The automaker's six 4C supercharging stations went live today, and they're all located in highway service areas in Hangzhou, Zhejiang, Jinan, Shandong and Dongguan, Guangdong, it said today on Weibo.

Li Auto opened the first seven 4C supercharging stations for trial operation on April 20. As of now, the company's supercharging stations reach 13.

All of Li Auto's currently available models are extended-range electric vehicles (EREVs), which are essentially plug-in hybrids.

The company unveiled its all-electric solution on April 18, the first day of the Shanghai auto show, which is based on an 800 V high-voltage platform capable of giving a battery electric vehicle (BEV) a 400 km range on a 10-minute charge.

By 2025, Li Auto's product array will include a super flagship model, five EREVs, and five BEVs, the company said.

Li Auto's first all-electric model will be the world's first to feature 's 4C Qilin Battery, it previously said.

C refers to the battery's charge multiplier, and 4C means that the pack could theoretically be fully charged in a quarter of an hour.

By the end of May, Li Auto's first 25 supercharging stations will open for trial operation and be available to all electric vehicle owners, it announced on April 18.

Each station will be equipped with three regular fast-charging piles and one 4C super-fast charging post, it said.

These 4C charging piles will have a maximum power of 480 kW and 2C charging piles will have a maximum power of 250 kW. 2C charging piles will allow vehicles to go from 20 percent to 80 percent in 30 minutes, the company said at the time.

By the end of this year, Li Auto will have built more than 300 supercharging stations along highways, it said.

By 2025, Li Auto will have 3,000 charging stations, covering 90 percent of China's highway miles and major cities, the company said.

Earlier today, NIO (NYSE: NIO) announced it had put eight new battery swap stations into operation, bringing the total to 1,403.

As of May 15, NIO also had 2,580 charging stations in China, offering 15,312 charging piles.

As of March 1, 's (NYSE: XPEV) charging network included 1,948 charging stations, of which 1,018 were operated by the company, according to the latest information on its website.

NIO exceeds 1,400 swap stations in China

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Alibaba backtracks on autonomous driving R&D

Alibaba's DAMO Academy's autonomous driving lab will lay off about 70 percent of its staff, while others will be transferred to the e-commerce giant's logistics arm, according to local media.

Alibaba backtracks on autonomous driving R&D-CnEVPost

(Image credit: DAMO Academy)

Alibaba, one of China's most powerful tech giants, is backing away from autonomous driving research and development, highlighting the challenges facing the field.

Alibaba's DAMO Academy no longer retains its autonomous driving business and team, which was merged into its logistics unit Cainiao, the Shanghai Securities News said in a report today, citing people from the e-commerce giant.

This means that Alibaba's autonomous driving business is entering a whole new phase of moving from cutting-edge tech exploration in the lab to applications in real-world scenarios, the report noted.

The Shanghai Securities News report did not provide more information, but according to a subsequent report by Jiemian, another local media outlet, not all of DAMO Academy's autonomous driving business was merged into Cainiao, but rather a significant layoff will be made.

DAMO Academy's autonomous driving lab previously had more than 300 people, with 80-90 receiving the option to move to work at Cainiao, while about 200 others, or about 70 percent, will be laid off, according to Jiemian.

One of the key reasons Cainiao was unable to take on all members of the team was the limited investment it was willing to make, the report said, citing an Alibaba insider.

The team that will be incorporated into Cainiao will be primarily responsible for keeping the autonomous driving robot Xiaomanlv, or little donkeys, in business and will not do much expansion, the report said.

Xiaomanlv is an L4 autonomous driving product launched by DAMO Academy's autonomous driving lab in September 2020 to serve the last three kilometers of delivery, take-out and fresh food delivery.

To date, the autonomous driving robot has entered more than 200 universities and communities, with a fleet size exceeding 500 vehicles.

It is worth noting that DAMO Academy's self-driving lab has undergone previous management changes.

In January 2022, the lab's then-head, Wang Gang, left after three years on board. In March this year, his successor, Chen Junbo, also left after one year in the position.

Alibaba's move underscores the huge challenges facing autonomous driving R&D.

At the end of March, BYD chairman and president Wang Chuanfu said at an earnings meeting that autonomous driving is nonsense that comes out of capital coercion.

BYD has more than 600,000 employees, and the company can't even replace all its workers with machines, because the machines can't simulate every scenario of manual operation, he said.

"It's not even possible to do unattended work on a fixed production line, let alone the ever-changing actual road conditions," Wang said at the time.

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Li Auto stops sharing weekly sales data, CEO explains why

Li Auto CEO said they have been complained about by many of their peers, so they are temporarily unable to publish insurance data from last week.

(Image credit: CnEVPost)

Li Auto (NASDAQ: LI) continued to share weekly auto insurance registration numbers in China after they became unavailable on major channels starting in April.

Now the automaker has stopped sharing those numbers as well, and its founder, chairman and CEO Li Xiang explained why.

"We have been complained and reported by many peers, so we can't release the insurance registration data for the time being since last week, very unfortunate," Li wrote on Weibo today.

Notably, earlier today, multiple versions of a table purportedly showing the insurance registration data for the first week of May circulated on Chinese social media, with Li claiming that much of the data was fake.

"I saw that some of my peers couldn't stand the fact that some people started faking the insurance registration data (which every car company buys) and took it upon themselves to release the real data for the first week," he said.

Li Auto's insurance was not less than 6,000 in that falsified data, but 7,000, he said.

Previously, we had access to those numbers every Tuesday, and it was Li Auto's practice to share a portion of them later to show off that it was leading the pack among new car makers.

The company last shared those numbers on May 5, when it provided a table showing that it sold 8,100 units in the week of April 24 to April 30.

Li Auto delivered 25,681 vehicles in April, another monthly high, while surpassing the 20,000-delivery mark for the second consecutive month.

On May 10, Li Auto reported its first-quarter earnings with guidance that second-quarter vehicle deliveries would range from 76,000 to 81,000.

This means that it expects to deliver a total of 50,319 to 55,319 vehicles in May and June.

Insurance registrations for week ending Apr 30: Tesla 11,500, Li Auto 8,100, NIO 2,600

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Singapore’s deputy PM visits NIO House in Shanghai

NIO is building a R&D Center in Singapore, where it looks into smart power solutions & autonomous driving technologies, said Lawrence Wong.

Singapore's deputy PM visits NIO House in Shanghai-CnEVPost

A Singaporean deputy prime minister visited a NIO House in Shanghai today, the first senior local official to visit the electric vehicle (EV) maker since it went public on the country's stock market.

Lawrence Wong, Singapore’s Deputy Prime Minister and Minister for Finance, tweeted today that he visited NIO and saw its next-generation battery technology.

"NIO is building a R&D Center in SG, where it looks into smart power solutions & autonomous driving technologies. Had a fruitful conversation & I wish NIO all the best in its EV journey in SG," Wong wrote.

Wong shared a picture that shows William Li, the founder, chairman and CEO of NIO, accompanying him on his tour.

"NIO team is honored to welcome Singapore Deputy Prime Minister and Minister for Finance Mr. Lawrence Wong and Singaporean government officials for a visit and further discussion at NIO House | Shanghai Tower today," the EV company said in a retweet.

On May 20, 2022, NIO was listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST), becoming the first Chinese automaker to list in three locations.

NIO announced at the time that it would establish an artificial intelligence and autonomous driving R&D center in Singapore. The company has already established R&D centers in Beijing, Shanghai, San Jose, USA, and Europe.

"We will also leverage Singapore's advantageous position as an international financial and technology center. By collaborating with science and research institutions and establishing NIO's R&D center for AI and AD in Singapore, we will further broaden and enhance our global R&D footprint," Li said at the time.

NIO made a secondary listing in Hong Kong by way of introduction on March 10, 2022, and the listing in Singapore was its second secondary listing.

NIO is currently down 2.89 percent to S$8.07 in Singapore. It closed down 2.46 percent to HK$63.50 in Hong Kong today.

NIO makes its debut on Singapore's stock market

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New auto index launched in HK stock market with constituents including BYD, NIO, XPeng, Li Auto

The Hang Seng Indexes Company Limited launched the Hang Seng Automobile Index today with a year-to-date return of about 9 percent.

A new index is now available for investors who wish to track the performance of the Chinese auto industry chain in the stock market.

The Hang Seng Indexes Company Limited (HSI) today announced the launch of three new indices, including the Hang Seng Automobile Index.

"The Hang Seng Automobile Index aims to reflect the overall performance of companies that are engaged in the value chain of automobile production, and are listed in Hong Kong," the description on the HSI website reads.

The new index -- calculated and disseminated in real-time at two-second intervals -- had a return of 9.26 percent for the year to last Friday. As of press time, the index was up 0.69 percent today.

The Hang Seng Automobile Index has a fixed component of 30 stocks and will be reviewed every six months.

The index's current constituents include car companies such as BYD, NIO, , , Leapmotor, , Great Wall Motors, and GAC Group, as well as suppliers such as LK Technology and Fuyao Glass.

The description page on the HSI website does not provide information on the weighting of these constituents in the index.

The index has a base period of December 31, 2019, with a base value of 3,000 points and is currently quoted at 3,272.24 points.

At press time, NIO was down 2.3 percent to HK$63.60 in Hong Kong, XPeng down 2.03 percent to HK$38.55, Li Auto down 0.96 percent to HK$113, BYD was flat and Leapmotor was up 1.47 percent to HK$34.55.

Hang Seng Automobile Index

Stock CodeConstituent Name
A SharesB SharesH SharesRed ChipsOthers
1958BAIC MOTOR
9888BIDU - SW
710BOE VARITRONIX
1211BYD COMPANY
285BYD ELECTRONIC
489DONGFENG GROUP
3606FUYAO GL ASS
2238GAC GROUP
1772GANFENG LITHIUM
175GEELY AUTO
2333GREATWALL MOTOR
179JOHNSON ELEC H
148KINGBOARD HLDG
9863LEAPMOTOR
2015LI AUTO - W
558LK TECH
425MINTH GROUP
1316NEXTEER
9866NIO - SW
1478Q TECH
20SENSETIME - W
3808SINOTRUK
2382SUNNY OPTICAL
819TIANNENG POWER
9696TIANQI LITHIUM
3898TIMES ELECTRIC
2338WEICHAI POWER
868XINYI GLASS
9868XPENG - W
1585YADEA

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NIO exceeds 1,400 swap stations in China

NIO's 1,400th battery swap station in China was built with German retail giant METRO, and the two have built a total of 21 such facilities together to date.

NIO exceeds 1,400 swap stations in China-CnEVPost

(Image credit: NIO)

NIO (NYSE: NIO) has surpassed 1,400 battery swap stations in China, as deployment of its third generation of the facility accelerates.

The electric vehicle (EV) maker today put eight new battery swap stations into operation, bringing the total to 1,403, with 374 of them located along highways, according to an article it posted today on the NIO App.

NIO's 1,400th battery swap station in China is located next to a store of German retail giant METRO in Shanghai, and is the 61st third-generation battery swap station of the EV maker.

The partnership between NIO and METRO began two years ago when the two signed a strategic cooperation agreement on March 29, 2021, to collaborate on the construction of charging stations and battery swap stations.

To date, 21 battery swap stations have been jointly built by the two companies, NIO said today.

NIO exceeds 1,400 swap stations in China-CnEVPost

NIO's owners have used battery swap services more than 22 million times, averaging nearly 50,000 times a day, and on average, a vehicle receives a fully charged battery from a battery swap station every 1.9 seconds, NIO said.

In addition to providing replenishment services, these battery swap stations have provided a total of 76,131 battery upgrades to owners, according to the article.

NIO allows owners to upgrade their standard-range battery packs to 100 kWh long range packs on a monthly, annual, or permanent basis.

NIO exceeds 1,400 swap stations in China-CnEVPost

On March 3, NIO began offering incentives to encourage owners to upgrade their battery packs to long-range ones.

At the NIO Day 2022 event on December 24, 2022, NIO's third-generation battery swap station was launched, capable of storing up to 21 packs, up from 13 in its previous generation and 5 in the first generation of that facility.

NIO announced plans at the time to add 400 battery swap stations in 2023, though that plan was raised to 1,000 on February 21.

William Li, NIO's founder, chairman and CEO, said at the time that the company would further accelerate the deployment of battery swap stations, with a goal of having more than 2,300 battery swap stations in China by the end of 2023.

NIO's first 10 third-generation battery swap stations went live in 10 Chinese cities on April 12.

On April 18, Li said on the first day of the Shanghai auto show that NIO will add about 200 battery swap stations every month starting in June.

As of May 15, NIO also had 2,580 charging stations in China, offering 15,312 charging piles. The company's charging map has access to more than 7,000,000 third-party charging stations.

NIO swap station count update: 8 added, total 1,403

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