Their cars were deigned by famous Pininfarina.
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NIO filming ET5 touring promo in Norway, more images revealed
NIO is filming promotional videos for the ET5 touring in Norway, and leaked images show more details of the model. | NIO US | NIO HK | NIO SG
More images of the NIO (NYSE: NIO) ET5 touring have been revealed, as the model gets closer to its official launch.
Auto blogger Delu shared several images of the model on the NIO App today, saying that NIO is filming promotional videos for the model in Norway.
"This is one of the top three touring models in my mind, they are the Volvo V60, Audi RS6 and now the ET5 Touring," the blogger wrote.
On May 9, CnEVPost obtained two spy photos of the ET5 touring appearing on the streets of Europe, showing that the car has the yellow color exclusive to the ET5 sedan sold in China.
CnEVPost has learned from a source is that the model is expected to make its official debut in Europe in June.
In January, NIO co-founder and president Qin Lihong said the company would launch the ET5 touring, a sister model of the ET5, in June or July.
That new variant of the ET5 will debut in Europe, where the model was developed primarily for European consumers, Qin said at the time.
Such models have a large market in Europe, while sales of sedans are low, which is the opposite of the situation in China, Qin said at the January event.
"Derivatives of sedans are a niche market in China, but the opposite is true in Europe. We don't see many real sedans in Europe," he said at the time.
In early March, the ET5 touring appeared on a filing list from Chinese industry regulators and its key specifications were revealed.
The NIO ET5 touring has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm respectively, and a wheelbase of 2,888 mm, in line with the ET5 sedan.
It will be equipped with dual motors produced by NIO's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.
As with several other NIO models based on the NT 2.0 platform, the NIO ET5 touring supports the option of a retractable electric tow hook, which can tow a maximum of 1,400 kg of caravan weight.
Exclusive: NIO ET5 touring appears in Europe as local launch nears
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Shanghai official hints at support for Tesla’s FSD rollout in China
Shanghai will further deepen its cooperation with Tesla to promote the EV maker's businesses including self-driving and robotics in the city, a local official said.
(Image credit: CnEVPost)
Tesla's FSD (Full Self-Driving) may be getting closer to being available in China.
Shanghai will further deepen its cooperation with Tesla to promote the electric vehicle (EV) maker's businesses including self-driving and robotics in the city, a local official said.
The city will work with Tesla to build a technology industry cluster with core technology advantages for the global market, Chen Kele, deputy director of intelligent manufacturing promotion division at Shanghai Municipal Commission of Economy and Informatization, said today.
Tesla's factory in Shanghai received a tour by local media today, and Chen mentioned this during a media briefing, according to The Paper.
Chen did not directly mention Tesla's FSD, but it was the first hint of support from a Chinese official for Tesla's FSD software.
Tesla, despite being a pioneer among EV companies in exploring autonomous driving, has been seen as slow to move in the area in China.
The EV maker is about to begin wide-scale testing of FSD in China, local media outlet Caixin said in an April 3 report.
All Tesla vehicles currently come with the free Basic Autopilot (BAP) software. In addition, Tesla also offers Enhanced Autopilot (EAP), FSD software as options.
EAP and FSD cost $6,000 and $15,000 respectively in the US and RMB 32,000 ($4,600) and RMB 64,000 respectively in China.
Tesla has made a positive contribution to the construction of a world-class automotive industry center in Shanghai, supporting the city's steady industrial economic growth, Chen said at today's event.
Tesla produced 727,000 vehicles in 2022, up 49.7 percent year-on-year, with an industrial output value of RMB 183.9 billion, Chen said, adding that this represents 23 percent of Shanghai's auto manufacturing output, driving industrial output growth by 1.3 percentage points.
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Tesla reportedly to begin large-scale testing of FSD in China
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Chinese LiDAR maker Hesai opens its 1st European office in Germany
This will help it further expand into the European market and accelerate its globalization, Hesai said.
(Image credit: Hesai)
Hesai Group has opened its first European office in Stuttgart, Germany, which will help it expand further into the European market and accelerate its globalization, the Chinese LiDAR manufacturer announced today.
Stuttgart is the automotive capital of Europe, with more than 2,000 companies in the automotive chain and many top OEMs and large Tier 1 suppliers headquartered here, Hesai said.
More than 20 automotive industry-related universities and R&D institutions provide a large talent base for the automotive industry in the region, it said.
Hesai's European office will leverage local resources in automotive and component manufacturing to enhance the company's presence and overall competitiveness in the European market, Hesai said.
(The building where Hesai's European office is located. Image credit: Hesai)
The company received the TISAX AL3 assessment label, the highest level of information security, this year, passing the European automotive supply chain access requirements and being able to serve European car OEM customers, it said.
Founded in Shanghai in late 2014, Hesai initially focused on developing high-performance laser sensors and has been exploring LiDAR products since 2016.
Hesai opened an office in Palo Alto, Silicon Valley, at its inception and now operates in more than 40 countries and 90 cities worldwide.
The company went public on NASDAQ on February 9, becoming the first Chinese LiDAR manufacturer to go public in the US.
Hesai shipped 47,515 LiDAR units in the fourth quarter, up 739.2 percent from 5,662 units in the same period in 2021, it said in its earnings report on March 16.
The company shipped 80,462 LiDARs for the full year 2022, up 467.5 percent year-on-year.
Hesai's revenue in overseas markets over the past three years reached nearly RMB 1.19 billion ($170 million), accounting for more than half of the company's total revenue.
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Hesai unveils ultra-thin LiDAR ET25 that can be placed behind windshield
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Baillie Gifford trims holdings in NIO, Tesla slightly in Q1
Baillie Gifford trimmed its holdings in NIO and Tesla by 0.77 percent and 2.83 percent, respectively, in the first quarter, but the value of its holdings in them rose.
Baillie Gifford held 120,132,616 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F filing posted on the SEC's website on May 3.
That's down 926,459 shares, or 0.77 percent, from 121,059,075 at the end of the fourth quarter, CnEVPost's calculations show.
During the fourth quarter of last year, Baillie Gifford's position in NIO increased by 24,277,897 shares or 25.09 percent.
Baillie Gifford's holdings in NIO were worth $1.26 billion at the end of the first quarter, up 6.97 percent from $1.18 billion at the end of the fourth quarter.
NIO rose 7.79 percent in the first quarter after it fell 38 percent in the fourth quarter of last year.
In addition to reducing its position in NIO slightly, Baillie Gifford also reduced its holdings in Tesla slightly in the first quarter.
At the end of the first quarter, the fund held 26,054,483 shares of Tesla, down 759,855 shares, or 2.83 percent, from 26,814,338 shares in the fourth quarter of last year.
However, Baillie Gifford's holdings in Tesla were worth $5.4 billion at the end of the first quarter, up 63.65 percent from $3.3 billion in the fourth quarter of last year, due to a big jump in Tesla's stock price in the first quarter.
Tesla rose 68.42 percent in the first quarter after it fell 59 percent in the fourth quarter of last year.
Baillie Gifford previously held Li Auto (NASDAQ: LI), but liquidated its position in the extended-range electric vehicle (EREV) maker in the fourth quarter of last year.
As of March 31, Baillie Gifford did not own Li Auto, XPeng (NYSE: XPEV) or BYD (OTCMKTS: BYDDY) shares.
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Nio ET5 Touring behind-the-scenes pictures leaks from promo shooting
To launch in June.
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GM goes wild in China as SGMW unveils Baojun Yep with cool retro roof racks. To launch on May 25
On May 12, Baojun shared new pictures and specs of the Baojun Yep mini urban SUV on their official app. The images show Yep with retro-styled aluminum roof racks that can carry up to 30kg of load and an announcement that the car will officially launch on May 25. The EV is aimed at young […]
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Tesla recalls over 1.1 million vehicles in China due to accelerator pedal alert issue
It includes Model 3 and Model Y produced domestically between 12th January 2019 and 24th April 2023.
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Tesla recalls over 1.1 million vehicles in China, will provide fixes via OTA
This article is being updated, please refresh later for more content.
Tesla is conducting its biggest recall in China in its history, albeit one that was caused by a software setting and can be fixed via OTA.
Effective May 29, 2023, Tesla is recalling a total of 1,104,622 imported Model S, Model X, Model 3 and China-made Model 3, Model Y vehicles with production dates between January 12, 2019 and April 24, 2023.
The vehicles included in the recall do not allow the driver to select an energy recovery braking strategy, according to a statement from China's State Administration for Market Regulation (SAMR).
Also, the driver may not have been provided with sufficient warning of prolonged deep depression of the accelerator pedal.
The combination of the above factors may increase the probability of misusing the accelerator pedal for a long period of time, which may increase the risk of a collision and present a safety hazard.
Tesla plans to push newly developed features for vehicles covered by the recall through OTA updates to reduce the risk of crashes caused by excessive speed due to prolonged deep pressing of the accelerator pedal.
The new features include (1) an option to allow drivers to select energy recovery braking intensity on vehicles that do not have energy recovery braking intensity selection, (2) adjustment of the factory default state of the vehicle's energy recovery braking strategy, and (3) an alert when the driver depresses the accelerator pedal deeply for an extended period of time.
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Lithium price rally picking up steam in China
Battery grade lithium carbonate rose 7.61 percent in China today, and industrial grade lithium carbonate rose 13.25 percent, both the largest single-day gains of this year.
Lithium, a key raw material for batteries, is seeing accelerating price gains after a rally that began late last month.
The average price of battery grade lithium carbonate in China was RMB 247,500 ($35,680) per ton today, up RMB 17,500 per ton, or 7.61 percent, from yesterday, according to data from Mysteel.
Industrial grade lithium carbonate averaged RMB 235,000 per ton today, up RMB 27,500 per ton, or 13.25 percent from yesterday.
This is the 10th consecutive day of increase in battery grade lithium carbonate prices and the 13th consecutive day of increase in industrial grade lithium carbonate prices, and they are both the largest single-day gains of this year, CnEVPost's monitoring shows.
As of April 21, lithium carbonate prices have not seen a single day of gains in China this year, falling about 65 percent since the start of the year.
In this round of increases that began late last month, the price of battery grade lithium carbonate rose 37.5 percent from RMB 180,000 per ton, while industrial grade lithium carbonate rose 74 percent.
High lithium prices are clearly not good for China's electric vehicle (EV) industry, but the continued decline in the price of the raw material also reflects weak consumer demand at the end of the spectrum.
The price of battery grade lithium carbonate rose to RMB 590,000 per ton in China on November 23, 2022, up about 14 times from RMB 41,000 per ton in June 2020.
The significant upward movement in lithium prices has resulted in EV makers facing higher battery costs, which has led to impaired profits.
However, the fall in lithium carbonate prices since the end of last year has raised many people more concerns about weak downstream EV demand and price wars.
As lithium prices rebound, some analysts are beginning to see possible signs of improvement in the EV industry.
Lithium carbonate prices have stopped falling and stabilized, reflecting gradually improving downstream demand, Guotai Junan analyst Shi Yan's team said in a research note on May 11.
On May 10, CITIC Securities analyst Yuan Jiancong's team said that the previous sharp drop in lithium carbonate prices and price cuts by automakers had fueled a wait-and-see mood among new energy vehicle (NEV) consumers.
In the second quarter, demand for NEVs is expected to pick up as lithium carbonate prices stabilize, the team said.
CICC analyst Zhang Jiaming's team said in an April 20 research note that the accelerating downward trend in lithium carbonate prices was unsustainable, and lithium prices may gradually stabilize and possibly even rebound in the short term as inventories are reduced.
Due to oversupply, some companies choose to cut production, which is a normal phenomenon that may occur in the process of price reduction, the team said.
However, the team believes that the downward trend in lithium prices may not come to a complete end soon, as the global lithium supply is still in surplus.
Market forces will bring a concentration of new capacity coming online and create supply growth that outpaces demand growth, which is the main driver of the easing lithium supply and demand crunch, the team said.
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Lithium price in China sees 1st rise this year as analysts expect short-term rebound
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