Tagged: China

China NEV insurance registrations for week ending Mar 12: BYD 37,141, Tesla 17,032, NIO 2,170

BYD / China / Deliveries / Electric / eMobility / eV / EV Data / Insurance Registrations / Li Auto / Neta / Nio / Tesla / Weekly Data / XPeng
March 14, 2023

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Tesla's insurance registrations last week in China were higher than the previous week's 13,266, while NIO's were lower than the previous week's 3,345.

BYD's new energy vehicles (NEVs) saw 37,141 insurance registrations in China for the week ending March 12, lower than the previous week's 38,932, according to numbers shared today by auto blogger @一路向北BYD.

Tesla vehicles saw 17,032 insurance registrations in China last week, higher than the previous week's 13,266.

NIO was 2,170 last week, down from 3,345 the week before.

Li Auto registered 4,243 units last week, up from 3,222 units the previous week.

XPeng was 1,635 units last week, up from 1,421 units the week before.

BYD's premium brand Denza vehicles saw 1,853 insurance registrations last week, up from 1,808 the week before.

Zeekr was 1,043 units last week, down from 1,814 units the week before.

BMW's NEVs registered 1,486 insurance units in China last week, down from 1,663 units the week before.

The past week has seen a rare price war in China's auto industry involving not only NEV makers, but traditional internal combustion engine automakers as well.

Rumors surfaced last week that BMW dealers were offering a massive subsidy for the all-electric BMW i3 in China, and that consumers who pay full price for the car can even get the model for RMB 120,000 to 180,000, less than half the retail price.

BMW insiders denied this, but sources at BMW dealers said they are indeed offering discounts, and that these measures were only introduced this month, local media Cailian reported last week.

For the BMW i3 eDrive35 L, which currently has a guide price of RMB 353,900, the price after discounts is RMB 248,000, the report said, citing BMW dealership sources.

Consumers will also receive an additional RMB 6,000 subsidy if they trade in their vehicles, the source said.

The increasing number of car companies joining the price war has led to increased consumer wait-and-see sentiment to avoid seeing price reductions shortly after purchasing a car.

Li Auto has introduced a consumer purchase price protection benefit that covers all of the company's currently available models -- Li L7, Li L8, Li L9.

For consumers who purchase these models, if the prices drops within 90 days of their order, then Li Auto will refund the difference.

The policy, which is available to consumers when they purchase the Li L7, Li L8, and Li L9, is primarily intended to make clear to them that Li Auto will not drop the prices, local media outlet The Paper said earlier today, citing salespeople from the company.

China NEV insurance registrations for week ending Mar 5: BYD 38,932, Tesla 13,266, NIO 3,345

Weekly NEV insurance registrations in China in 2023

Wk	BYD	Tesla	NIO	XPeng	Li Auto	BMW	Zeekr	Neta	Leapmotor	NEV	NEV+ICE
03/06-03/12	37,141	17,032	2,170	1,635	4,243	1,486	1,043	988
02/27-03/05	38,932	13,266	3,345	1,421	3,222	1,663	1,814	4,109	515	116,238	345,340
02/20-02/26	39,473	10,705	3,357	1,685	5,387	1,792	1,855	2,152	401	111,983	331,238
02/13-02/19	37,026	5,913	3,174	1,463	4,238	2,271	1,443	1,038	329	100,408	303,101
02/06-02/12	31,417	6,963	3,045	1,396	4,062	682	547	1,170	NA	85,572	280,741
01/30-02/05	24,280	8,643	1,948	975	2,240	593	554	3,964	114	69,692	267,843
01/23-01/29	5,280	3,356	427	210	990	NA	89	NA	NA	17,945	92,600
01/16-01/22	24,708	7,496	3,008	1,068	4,903	NA	657	NA	NA	67,500	330,400
01/09-01/15	40,420	12,654	2,963	1,817	4,527	2,687	1,359	420	237	99,041	438,000
01/02-01/08	35,924	2,110	2,818	1,551	3,704	2,103	1,511	238	80	77,000	290,000

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NIO ES7 and ET5 wait times get longer

China / Electric / eMobility / eV / Nio / NIO ES7 / NIO ET5 / Wait Times
March 14, 2023

NIO delivered 12,157 vehicles in February, including 6,471 ET5s, 649 ET7s and 2,848 ES6s.

(From left to right: EC7, EC6, ET7, ET5. Screenshot on March 14.)

NIO (NYSE: NIO) has seen slightly longer wait times for two of its models in China, the first time since late January that such a change has occurred.

The company's current main seller, the ET5 electric sedan, now has an expected delivery date of 3-4 weeks, up 1 week from the previous 2-3 weeks, information from the NIO App monitored by CnEVPost shows.

The NIO ES7 SUV currently has an expected delivery date of 4-6 weeks, up from about 3 weeks previously.

The NIO App is currently showing 8 models, including the old ES8, ES6 and EC6 based on the NT 1.0 platform, and the all-new ES8, ES7, EC7, ET7 and ET5 based on the NT 2.0 platform.

The EC7 and the new ES8 were launched at NIO Day 2022 held on December 24, 2022, and deliveries are set to begin in May and June, respectively.

The wait time information is unchanged today for all models except for the ES7 and ET5.

(From left to right: All-new ES8, old ES8, ES7, ES6. Screenshot on March 14.)

Yesterday, the NIO App stopped showing the expected delivery time for the ET7. There have been recent rumors that NIO may release a revamped version of its flagship sedan.

The longer wait time for vehicles could be due to increased consumer demand compared to previously, or a lack of parts availability. There is no way to tell exactly why the wait times for the NIO ES7 and ET5 have become longer.

NIO delivered 12,157 vehicles in February, up 42.92 percent from 8,506 in January and up 98.29 percent from 6,131 in the same month last year, according to data it released on March 1.

That delivery volume included 5,037 SUVs, and 7,120 sedans, NIO said. The ET7 and ET5 are sedans, all other models are SUVs.

Separately, data released by the China Passenger Car Association (CPCA) showed the ET5 delivered 6,471 units in February, the ET7 649 units and the ES6 2,848 units. Breakdown figures for other models are not available.

Changes in wait times for NIO models

Date	Model	Prev	Change	Latest
03/14/23	ET5 (NT 2.0)	2-3 weeks	↑	3-4 weeks
03/14/23	ES7 (NT 2.0)	About 3 weeks	↑	4-6 weeks
03/13/23	ET7 (NT 2.0)	About 3 weeks	NA	Stop showing
02/14/23	ES7 (NT 2.0)	3-4 weeks	↓	About 3 weeks
02/14/23	ET7 (NT 2.0)	3-4 weeks	↓	About 3 weeks
02/14/23	ET5 (NT 2.0)	About 3 weeks	↓	2-3 weeks
02/6/23	ET5 (NT 2.0)	3-4 weeks	↓	About 3 weeks
01/28/23	ES7 (NT 2.0)	2-3 weeks	↑	3-4 weeks
01/28/23	ET7 (NT 2.0)	2-3 weeks	↑	3-4 weeks
01/28/23	ET5 (NT 2.0)	7-9 weeks	↓	3-4 weeks
01/11/23	ET5 (NT 2.0)	8-10 weeks	↓	7-9 weeks
01/5/23	ET5 (NT 2.0)	9-11 weeks	↓	8-10 weeks
12/29/22	ET5 (NT 2.0)	10-12 weeks	↓	9-11 weeks
12/22/22	ET5 (NT 2.0)	12-14 weeks	↓	10-12 weeks
12/20/22	ES7 (NT 2.0)	4-6 weeks	↓	2-3 weeks
12/13/22	ET5 (NT 2.0)	13-15 weeks	↓	12-14 weeks
12/13/22	ET7 (NT 2.0)	About 2 weeks	↑	2-3 weeks
12/13/22	EC6 (NT 1.0)	About 2 weeks	NA	Stop showing
12/2/22	ET5 (NT 2.0)	21-23 weeks	↓	13-15 weeks
11/25/22	ES7 (NT 2.0)	7-9 weeks	↓	4-6 weeks
11/25/22	ET7 (NT 2.0)	3-5 weeks	↓	About 2 weeks
11/23/22	ES8 (NT 1.0)	About 2 weeks	NA	Stop showing
11/16/22	ET7 (NT 2.0)	4-6 weeks	↓	3-5 weeks
11/10/22	ES8 (NT 1.0)	2-3 weeks	↓	About 2 weeks
11/10/22	ES6 (NT 1.0)	2-3 weeks	↓	About 2 weeks
11/10/22	EC6 (NT 1.0)	2-3 weeks	↓	About 2 weeks
11/3/22	ES7 (NT 2.0)	11-13 weeks	↓	7-9 weeks
11/3/22	ET7 (NT 2.0)	6-8 weeks	↓	4-6 weeks
11/3/22	ES8 (NT 1.0)	2-4 weeks	↓	2-3 weeks
11/3/22	ES6 (NT 1.0)	2-4 weeks	↓	2-3 weeks
11/3/22	EC6 (NT 1.0)	2-4 weeks	↓	2-3 weeks
10/31/22	ES7 (NT 2.0)	12-14 weeks	↓	11-13 weeks
10/31/22	ES8 (NT 1.0)	3-5 weeks	↓	2-4 weeks
10/31/22	ES6 (NT 1.0)	3-5 weeks	↓	2-4 weeks
10/31/22	EC6 (NT 1.0)	3-5 weeks	↓	2-4 weeks
10/21/22	ES7 (NT 2.0)	13-15 weeks	↓	12-14 weeks
10/21/22	ET7 (NT 2.0)	11-13 weeks	↓	6-8 weeks
10/21/22	ET5 (NT 2.0)	21-23 weeks	NA	Stop showing
10/21/22	ES8 (NT 1.0)	4-6 weeks	↓	3-5 weeks
10/21/22	ES6 (NT 1.0)	4-6 weeks	↓	3-5 weeks
10/21/22	EC6 (NT 1.0)	4-6 weeks	↓	3-5 weeks

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Li Auto rolls out price protection policy amid China auto price war

China / Electric / eMobility / eV / Li Auto / Price Cut
March 14, 2023

The price war in China's auto industry has intensified the wait-and-see mood among car buyers, and Li Auto's move helps to allay potential consumers' concerns to some extent.

Li Auto US | Li Auto HK

(Image credit: Li Auto)

As the price war in China's auto industry continues, Li Auto (NASDAQ: LI) is telling consumers that it won't be cutting prices, at least they don't need to worry about it in the short term.

An image circulating on the Chinese internet on March 13 shows Li Auto rolling out a consumer price protection policy covering all of the company's currently available models -- the Li L7, Li L8 and Li L9.

For consumers who purchase these models, if the prices drop within 90 days of their order, then Li Auto will refund the difference.

The policy is in effect from March 11 to March 31, and the price reduction Li Auto refers to includes both a drop in the vehicle's official prices and the cash-off benefits the company offers, according to the image.

In a report today, local media outlet The Paper quoted Li Auto salespeople as saying the image is true.

The policy, which is available to consumers when they purchase the Li L7, Li L8 and Li L9, is primarily intended to make clear to them that Li Auto will not be dropping prices, the salesperson said.

On March 2, Li Auto founder, chairman and CEO Li Xiang said on Weibo that the price of lithium carbonate would be drastically reduced no matter what because the demand is far less than expected.

He said at the time in the comments section of that Weibo that Li Auto's models would not be reduced in price.

Notably, a wave of price cuts then began in the Chinese auto industry, with some internal combustion engine automakers starting to offer huge discounts.

The increasing number of car companies joining the price war has also led to an increased wait-and-see sentiment among consumers to avoid seeing price cuts soon after purchasing a car.

Li Auto's move will partly contribute to allaying the company's potential consumers' concerns and thus help it achieve its sales targets.

Li Auto has an internal goal of 25,000-30,000 monthly deliveries and will aim to meet that goal in the second quarter, its management said in a February 27 analyst call after announcing fourth-quarter earnings.

The company delivered 16,620 vehicles in February, up 9.77 percent from 15,141 in January and up 97.53 percent from 8,414 in the same month last year.

Li Auto guided for deliveries of 52,000 to 55,000 vehicles in the first quarter when it reported fourth-quarter earnings. The company's delivery figures for February mean it is on track to deliver 20,239 to 23,239 vehicles in March.

China auto price war: BMW dealers offer discounts of up to $14,360 for i3

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BYD launches 4 models in Jordan, its 1st stop in Middle East

BYD / BYD Global / BYD Jordan / China / Electric / eMobility / eV
March 14, 2023

BYD has launched the Dolphin, Tang EV, Atto 3 and Han EV in Jordan, the first stop for the NEV maker to expand into the Middle East market.

BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) officially launched its vehicle offerings in Jordan, following its partnership with local dealer Mobility Solutions Auto Trade Co (MSTC) in September last year.

BYD launched four models at a joint launch event on March 9 with MSTC in Jordan, the first stop for the Chinese new energy vehicle (NEV) giant to expand into the Middle East market, according to a press release yesterday.

The four models are the BYD Dolphin, Tang EV, Atto 3 and Han EV.

"This conference is not only our first stop in the Middle East market this year, but also a milestone for our in-depth integration into the Middle East market," Adam Peng, BYD's sales director for the Middle East region, said in the event.

The BYD Dolphin is a compact car, the first production model based on the BYD e-Platform 3.0. The Tang EV is a midsize SUV with 520 horsepower.

The Atto 3, which is called the Yuan Plus in China, is BYD's first global model. The Han EV is BYD's flagship sedan.

In addition to the launch of these four models, BYD also announced plans for a strategic cooperation plan with MSTC.

The two parties will cooperate in sales, after-sales and maintenance to provide service and support to consumers in the Middle East, an important step in BYD's continued growth in the Middle East market, BYD said.

On September 27, 2022, BYD announced a partnership with Bustami & Saheb Trading Company (BSTC), the parent company of MSTC and a Jordanian car dealership group, in order to provide NEVs to local consumers.

BYD sold 193,655 NEVs in February, including 90,639 pure electric passenger cars, 101,025 plug-in hybrid passenger cars, and 1,991 commercial vehicles, according to figures it announced earlier this month.

In February, BYD sold 15,002 NEVs in overseas markets, up 44.13 percent from 10,409 units in January.

BYD Feb sales breakdown: Song 52,400 units, Yuan 33,612 units

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BYD says report that Tesla won’t extend battery supply partnership with it untrue

Blade battery / BYD / BYD Battery / China / Deals / Electric / eMobility / eV / Tesla
March 14, 2023

A BYD spokesperson, responding to CnEVPost's request for comment, said the information was untrue and did not correspond to reality.

BYDDY.US | BYD HK | TSLA.US

(File photo shows BYD's blade battery. Credit: BYD)

Tesla will not continue to use BYD's batteries after its contract with the latter expires, according to a report in a South Korean media outlet yesterday. BYD denied it today.

Tesla has decided not to use BYD's batteries due to quality issues arising from a series of fire accidents with the latter's LFP (lithium iron phosphate) batteries, South Korea's Korea Economic Daily said in a report yesterday.

Tesla first used BYD's 10 GWh batteries last year for its low-end models in Europe, according to the report.

Earlier this year, Tesla did not request the additional supply of BYD batteries for the standard, low-cost trim version of the Model 3 after its contract to supply them expired, the report said, citing industry sources.

Fires in electric vehicles where BYD applied its own batteries have occurred several times in China, triggered by quality problems, the report said.

Contrary to BYD's explanation, there is no reason for Tesla to use BYD batteries as accidents become more frequent, a source from the battery industry said. That seems to be the reason for it, he said.

Tesla's reliance on LG Energy Solution, which is accelerating the development of LFP batteries for electric vehicles at Tesla's request, is expected to grow, according to the report.

Tesla uses LG Energy Solution and CATL in Europe and Panasonic products in North America. Existing companies will most likely fill BYD's vacancy, the report noted.

A BYD spokesperson, responding to CnEVPost's request for comment, said the information was untrue and did not correspond to reality.

In February 2022, rumors surfaced that Tesla had officially placed an order with BYD's battery manufacturing division, FinDreams Battery, for blade batteries for 204,000 vehicles per year.

In early June 2022, BYD executive vice president Lian Yubo said in an interview with state-owned media outlet CGTN host Kui Yingchun that BYD would soon be supplying batteries to Tesla.

Lian provided no further details at the time, and a video of that interview posted on Weibo was subsequently deleted.

On August 10, 2022, Sina Tech cited multiple sources familiar with the matter as saying that BYD's blade battery supplies to Tesla had already begun to be delivered to the latter's plant in Berlin, Germany, the first Tesla Gigafactory to use BYD batteries.

Tesla's competitive relationship with BYD is also one of the reasons it will not extend its contract in Europe, according to Korea Economic Daily. Tesla asked LG Energy Solution to develop LFP batteries to keep its electric vehicle rival in check, the report said.

In October 2022, Steve Westly, a former Tesla board member and founder of Westly, said the only one that can truly compete with the US electric vehicle giant on a global scale is BYD.

"For the first time, I think there is a real challenger and that challenger's name is BYD," Westly said in a CNBC interview that aired on October 20 of last year.

"BYD will likely hit one million EV units produced and sold this year. That's something that should keep your eye on," he said, adding, "In contrast, it is good to compare, Ford, probably has 60,000 units and GM struggling to hit 50,000 units. They are barely 4 to 5 percent of Tesla."

So right now, it looks like it's Tesla and the Chinese battle, Westly said.

BYD sold 1,863,494 new energy vehicles (NEVs) in 2022, including 946,239 plug-in hybrid passenger cars, 911,140 pure electric passenger cars, and 6,115 commercial vehicles, according to data monitored by CnEVPost.

For comparison, Tesla delivered 1,313,851 vehicles worldwide in 2022, with 439,770 delivered to Chinese consumers.

Charlie Munger, a renowned US investor, said on February 15 that Tesla pales in comparison to BYD in China.

"Tesla last year reduced its prices in China twice. BYD increased its prices. We are direct competitors. BYD is so much ahead of Tesla in China, it's almost ridiculous," Munger said.

In addition to being an NEV giant, BYD is also one of the world's largest power battery manufacturers.

BYD installed 5.8 GWh of power batteries globally in January, up 78.8 percent from 3.3 GWh in the same month last year, according to a report released by South Korean market research firm SNE Research on March 6.

BYD ranked second globally with a 17.6 percent market share, up from the 11.6 percent share in the same period last year.

CATL installed 11.2 GWh of batteries globally in January, continuing to rank first with a 33.9 percent market share, but lower than the 37.6 percent share in the same month last year.

LG Energy Solution installed 4.3 GWh of power batteries in January, ranking third with a 13.0 percent market share, up from 10.1 percent in the same month last year.

BYD so far ahead of Tesla in China that 'it's almost ridiculous,' says Charlie Munger

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Avatr E12 EV sedan from Changan, CATL and Huawei revealed in patent images

AVATR / Avatr E12 / CATL / Changan / China / Electric / Electric cars / eMobility / EP1 / eV / Huawei / Report
March 13, 2023

The Avatr E12 from Changan, CATL and Huawei exposed in patent images in China. It stays in line with the 11 SUV.

The post Avatr E12 EV sedan from Changan, CATL and Huawei revealed in patent images appeared first on CarNewsChina.com.

VW slashed ID. prices in China, ID.4 down by 19% to $25,000

China / Electric / Electric cars / eMobility / eV / price war / Report / Volkswagen China
March 13, 2023

On March 11, FAW-VW announced a price cut of 40,000 yuan ($5,800) on its ID. lineup. Another Volkswagen joint venture SAIC-VW followed with a 30,000 yuan price cut on all its electric models. The ID.4 Crozz can now be purchased for 174,900 yuan ($25,000). Volkswagen is the latest automaker to join the price war in […]

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