Tagged: China

NIO ET5 Touring launch: Live updates

(Image credit: CnEVPost)

(NYSE: NIO) will officially launch the ET5 Touring today, with its launch event starting at 19:00 Beijing time, and CnEVPost will be updating the event's main content in real-time in this post.

Here is what is already known:

NIO starts accepting consumer reservations for the ET5 Touring in China on June 10, and its first deliveries will start tomorrow June 16.

NIO will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).

The ET5 Touring measures 4,790 mm in length, 1,960 mm in width and 1,499 mm in height, and has a wheelbase of 2,888 mm, in line with the regular ET5 sedan, a previous regulatory filing show.

It is equipped with dual motors with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.

Its battery suppliers include CALB, in addition to .

Below are the main contents of the NIO ET5 Touring launch event, with the latest at the top.

Including the battery, the starting price of the NIO ET5 Touring in China is RMB 298,000 ($41,620), which is the same as the starting price of the regular ET5.

NIO ET5 Touring will be available in China, Germany, Denmark, Netherlands, Norway and Sweden.

The NIO China team began participating in the launch.

The ET5 Touring with a 100-kWh long-range battery pack has a WLTP range of up to 560 km.

The ET5 Touring is available in 10 exterior colors.

The ET5 Touring launch event began with the NIO Europe team introducing the model at the NIO House in Frankfurt.

This is the first time that NIO starts the launch of a new model with an international team presentation.

Store visit: First impression of NIO ET5 Touring before official launch

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XPeng CEO sees China EV landscape far from set

will enter an accelerating positive feedback loop starting in the third quarter of this year and will see faster growth from the third quarter of next year to the end of 2025, XPeng's CEO said.

(Screenshot from the video of XPeng CEO He Xiaopeng's speech.)

Electric vehicle (EV) startups see ups and downs in fortunes as the industry grows rapidly in China. XPeng (NYSE: XPEV) is one of the EV makers that has been in a downward spiral over the past year, but its CEO doesn't think it's a big deal.

In a speech at the China Auto Blue Book Forum in Wuhan, central China's Hubei province, XPeng chairman and CEO He Xiaopeng argued that the landscape of China's EV industry is not yet set and that there's no need to worry too much about winning or losing in the moment.

"Whether it's joint ventures, state-owned enterprises, or private companies, including the new car makers, we see very fierce competition in the whole industry," he said.

"In fact, I don't think we need to worry too much about this competition. First of all, has anyone already got the qualification to stay at the table today?" he said.

"At least, I don't think there's a single company in China, not a single startup, that will definitively be on the table for the next one," he added.

Citing the development of China's Internet industry over the past 20 years, he said he had been thinking from 2007-2010 about which products would qualify to be part of the mobile Internet end game.

"In fact, we later found out that there was no answer to that question," he said.

None of the products had a chance of qualifying for that from 2007 to 2010, and that qualification came in 2010 and later with the emergence of big hardware and software players, he said.

XPeng has seen strong delivery growth in 2021, with deliveries reaching an all-time high of 16,000 units in December 2021.

Its deliveries have continued to be weak since the second half of last year, dropping to 5,218 units in January of this year. In the past three months, it has delivered at slightly above 7,000 units each month.

Its local counterpart (NYSE: NIO) fared a bit better last year, but also faced a similarly sluggish delivery as it switched products this year, delivering just 6,155 vehicles in May.

In contrast, (NASDAQ: LI) has maintained strong deliveries since last year, with a record 28,277 vehicles delivered in May.

It's worth noting that Li Auto's current models are all extended-range electric vehicles (EREVs), which are essentially plug-in hybrids and have a much larger market space. Both XPeng and NIO only offer battery electric vehicles, which are in a fast-growing but small market.

In his speech today, Mr. He said he could foresee a large number of hybrid models in China in the next two years, especially in the family car segment.

"Because everyone sees the success, they will follow. Because they are following, a large number of models will focus on the same place. It's a very interesting thing," he said.

He stressed that automakers should have a long-term vision. "I think in the automotive space, for everything, you have to think about the layout for ten to twenty years, it's not possible to achieve a big change in three years' time," he said.

XPeng has faced many challenges in the last year, but the positive feedback for the company will accelerate in the full year starting in the third quarter of this year, he said.

From the third quarter of next year to the end of 2025, XPeng will enter a hyper-speed positive feedback loop, he said, adding that this is based on XPeng's overall layout.

Q1 earnings: How does NIO compare to XPeng and Li Auto?

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Analysts expect 16% of heavy trucks sold in China to be electric by 2025

At present, 89 percent of the new energy heavy trucks are pure electric models, and half of them support battery swap.

(Image: Screenshot from a video)

China's electrification transition involves not only regular passenger cars, but heavy trucks as well.

By 2025, sales of electric heavy trucks in China are expected to reach 190,000 units, with a penetration rate of about 16 percent, said CITIC Securities analyst Yuan Jiancong's team in a research note today.

In China, the singularity for accelerated penetration of electric heavy trucks has arrived, with penetration expected to reach 35 percent by 2030, the team said.

The acceleration of new energy heavy truck penetration in China from 2021 onward was largely driven by China's restrictions on carbon emissions from high-emitting companies, according to the team.

In 2022, retail sales of new energy heavy trucks in China were 25,000 units, up 142 percent year-on-year, with a penetration rate of about 5 percent, CITIC Securities said, citing data from China Automotive Technology and Research Center (CATARC).

At present, 89 percent of new energy heavy trucks are pure electric models, and half of them support battery swap, according to the team.

Heavy-duty trucks have larger batteries and take longer to recharge at the same charging rate, and battery swap meets the efficiency requirements of these models, the team said.

From 2021 to 2022, the percentage of battery swap-enabled heavy-duty trucks ramped up, the team said, adding that they expect such electric heavy-duty trucks to become the industry's dominant product form in the near term.

On June 12, CATL unveiled Qiji Energy, a battery swap solution for heavy-duty trucks. Similar to the Chinese power battery giant's EVOGO solution for passenger cars released last year, Qiji Energy supports flexible use of the number of batteries.

With a capacity of 171 kWh in a single battery block, heavy trucks can choose to use 1-3 blocks, and the entire battery replacement process takes only a few minutes, CATL said.

In the vehicle-battery separation model, a heavy truck can save RMB 30,000 ($4,190) to RMB 60,000 in annual costs, CATL said.

CATL's move is expected to further boost the electrification of heavy trucks, CITIC Securities said in the research note today.

The penetration of electric heavy trucks is expected to accelerate in areas with higher requirements for range and economy, the team said.

The note also said that 's first electric heavy truck, the Semi, which began deliveries on December 2, 2022, has a range of 800 km at 37 tons fully loaded and has met the criteria for wide-scale commercial operation.

Electric heavy-duty trucks have shown good economic performance in both the US and China, and the Tesla Semi could help the industry grow more rapidly in the US, the team said.

In China, electric heavy-duty trucks will be adopted preferentially in the short term in scenarios including coal industrial parks, steel industrial parks, and sanitation trucks, driven by policy.

By 2025-2030, market forces will drive more growth in the sector as electric heavy trucks improve in economy and range, according to the team.

($1 = RMB 7.1551)

CATL launches battery swap solution Qiji Energy for heavy-duty trucks

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Buick to launch Electra E4 coupe SUV in China on Jun 19

Only about 2 months ago on April 13, Buick launched the Electra E5 SUV -- its first model based on GM's Ultium platform -- in China.

(Image credit: Buick)

General Motors' Buick brand is probably the most aggressive of the foreign brands when it comes to tapping into the Chinese electric vehicle (EV) market, with a second model coming two months after launching its first model based on the Ultium platform two months ago.

The Buick Electra E4 -- an all-electric coupe SUV -- will go on sale in China on June 19, the brand announced on its social media accounts yesterday.

Notably, Buick launched the Electra E5 SUV, its first model based on GM's Ultium platform, in China only about 2 months ago, on April 13.

Buick was already warming up for the Electra E4's launch earlier this month, sharing exterior images of the model as well as its core specs.

The Electra E4 entered the Chinese industry regulator's list of new models that will be allowed to be sold in China two months ago.

The model has a length, width and height of 4,818 mm, 1,912 mm and 1,581 mm, respectively, and a wheelbase of 2,954 mm, according to the regulatory filing dated April 11.

For comparison, Buick's first model based on the Ultium platform, the Electra E5, has a length, width and height of 4,892 mm, 1,905 mm and 1,655 mm, respectively, and a wheelbase of 2,954 mm.

The model has two power versions, the dual-motor version with a maximum output of 143 kW for the front motor and 68 kW for the rear motor. Its single-motor version has a front motor with a maximum output of 150 kW. The model supports a top speed of 180 km/h.

The Buick Electra E4 is powered by a ternary lithium-ion battery supplied by a joint venture between and GM's local car-making partner SAIC, with a 65-kWh pack for a CLTC range of 530 km in the standard range version and a 79.7-kWh pack for a CLTC range of 620 km in the long-range version.

Buick is one of the most aggressive in embracing the transition to electrification in the Chinese auto industry. It launched the Electra E5 on April 13, offering five versions with starting prices of RMB 208,900 ($29,100), RMB 222,900, RMB 225,900, RMB 239,900 and RMB 278,900, respectively.

On April 25, Buick announced that the Electra E5 received more than 8,000 orders after 12 days on the market.

On May 29, SAIC Motor, a joint venture between GM and SAIC, said the first deliveries of Electra E5 vehicles had begun, but did not announce the number of deliveries.

($1 = RMB 7.1780)

Buick begins delivery of Electra E5 electric SUV in China

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NIO website shows countdown as ET5 Touring launch less than 8 hours away

Deliveries of the ET5 Touring in China will begin tomorrow, and management expects the model to enhance its competitiveness in the premium family car market.

NIO (NYSE: NIO) will hold a launch event for the ET5 Touring starting today at 19:00 Beijing time (7:00 am US Eastern time), and its official website is showing a countdown.

As of press time, the launch of the NIO ET5 Touring in China, themed "Journey Ahead," has 7 hours and 43 minutes to go. The delivery of the model in China will officially start tomorrow.

NIO's English website is also showing a countdown to the European launch event with the theme "Inspired By Life", which will start in 13 hours and 43 minutes.

The ET5 Touring will be the first NIO model to be launched at a global launch event. The company will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).

The ET5 Touring launch will be an event across six countries, NIO announced on June 10, when a post on the NIO App hinted that the model would be released to consumers in China, Norway, Sweden, Denmark, the Netherlands, and Germany.

Below is a video posted today by the NIO App of the ET5 Touring on a track drive in Germany.

 

NIO began accepting pre-orders for the ET5 Touring in China on June 10, although the model's specifications and price have not yet been announced.

For the ET5 Touring, many expect that its starting price in China, including the battery, will likely be 10,000 yuan ($1,400) to 20,000 yuan higher than that of the regular ET5.

NIO lowered the starting prices for all models by RMB 30,000 on June 12 and made the battery swap service, which was previously free several times a month, a paid option.

Under the latest pricing system, the starting price for the regular ET5, including the battery, is reduced to RMB 298,000. If consumers choose to lease the battery using the BaaS (battery as a service) program, then the starting price of the vehicle is RMB 228,000.

On March 9, the Chinese Ministry of Industry and Information Technology (MIIT) announced the latest batch of models that will be allowed to be sold in China, and the NIO ET5 Touring was included in the list.

The model 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, according to the filing information.

It is 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.

The model's battery supplier includes CALB in addition to , as do the new EC6, EC7, new ES8 and new ES6.

The ET5 Touring can meet the diverse use scenarios of individual and family users, greatly enhancing the company's competitiveness in the high-end family car market, William Li, founder, chairman and CEO of NIO, said during a June 9 analyst call following the company's first-quarter earnings announcement.

($1 = RMB 7.1735)

Store visit: First impression of NIO ET5 Touring before official launch

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For more articles, please visit CnEVPost.

XPeng rolls out Tesla FSD-like assisted driving feature in Beijing

City NGP feature is expected to cover dozens of additional cities within the year, said.

(Image credit: CnEVPost)

XPeng's (NYSE: XPEV) Advanced Driver Assistance System (ADAS) similar to 's FSD (Full Self-Driving) is now available in Beijing, making the company the first to launch the feature in the Chinese capital city.

The XPeng feature, called City NGP (Navigation Guided Pilot), is open in Beijing for users participating in a public test and is currently available on Beijing's ring roads and major highways, according to a press release today.

In addition to public test users, the feature will soon be available for general users of the Max version of XPeng's flagship G9 and P7i with the Xmart OS 4.3.0 system update, it said.

XPeng P5's P-version models will also be able to use the City NGP feature in Beijing after upgrading to Xmart OS 3.5.0, according to the company.

 

City NGP is an ADAS feature similar to Tesla's FSD, which allows the vehicle to perform driving tasks when it is activated and navigation destinations are set.

This includes cruising at a safe distance from the vehicle ahead, changing lanes due to navigation or vehicle overtaking decisions, handling merging and lane splitting, and going around stationary vehicles or obstacles.

On September 17, 2022, the City NGP feature became available on a pilot basis in Guangzhou, where XPeng is headquartered. One month later, XPeng officially opened the feature to all eligible P5 cars in Guangzhou on October 21.

When XPeng launched its flagship SUV, the G9, on September 21, 2022, it said the model would feature a second-generation assisted driving system called XNGP.

XNGP is a full-scenario assisted driving system, and XPeng aims to have it provide driving assistance in all scenarios including highways, city roads, internal campus roads, and parking lots.

On October 24, 2022, XPeng said at its annual Tech Day event that XNGP for G9 Max will enable support for City NGP in Guangzhou, Shenzhen and Shanghai in the first half of 2023.

On March 31 of this year, XPeng announced that XNGP achieved the first phase of capability, covering the G9 Max and P7i Max versions, to gain City NGP capability in Shanghai, Shenzhen and Guangzhou, three cities with high precision map coverage.

Phase 2 of XNGP, which XPeng will launch in the second half of 2023, will see full lane-changing, overtaking and left/right turn capabilities extended to major Chinese cities without high-precision maps, while full-scenario ADAS is planned for 2024, the company said at the time.

When the full rollout of the XNGP system is completed in 2024, it will enable full-scenario ADAS from start to stop, the company said.

Based on XNGP's ability to iterate quickly, the improved capabilities of City NGP brought by the Xmart OS 4.3.0 upgrade will allow vehicles to handle tasks including lane changes, detours and following vehicles with greater ease, XPeng said today.

(Image credit: XPeng)

City NGP under the XNGP system has powerful AI learning capabilities that will allow driving skills to improve faster and also allow it to cover more cities at a faster pace, according to XPeng.

In addition to Beijing, Shanghai, Guangzhou and Shenzhen, the City NGP feature is expected to cover dozens of additional cities within the year, XPeng said.

The latest XNGP will also bring next-generation Highway NGP capabilities that perform closer to L4 assisted driving, with almost 0 takeover in highway scenarios, the company said.

City NGP has gained the equivalent of one year of driving experience for human drivers on average each quarter since its launch in October 2022, XPeng said.

In the second half of 2023, XPeng will gradually release ADAS features for Chinese cities or urban areas without HD map coverage, it said, adding that it also plans to offer customized NGP features for daily commutes across the country.

These initiatives will cater to a wider range of driving scenarios and provide users with a more intelligent driving experience in a variety of environments, XPeng said.

XPeng is seen as one of the strongest in China in terms of assisted driving capabilities, though its local counterparts are also making rapid progress on their own.

's similar feature is called NOP (Navigate on Pilot), though it doesn't yet cover urban areas. The company began allowing owners of all its NT 2.0 platform vehicles to apply for a trial of an improved version of the system, NOP+ Beta, on February 20.

NOP+ Beta covers 95 percent of China's core highways and urban fast roads, and offers significant improvements in safety and comfort of experience in scenarios including following, lane changing and overtaking, and ramp passing, NIO said on April 10.

NOP+ will gradually switch and upgrade to BEV architecture in 2023, and the hardware capability and algorithm architecture will help NOP+ cover more road scenarios, the company said at the time.

In addition, starting in the second half of 2023, the feature will support pilot navigation to battery swap stations along highways and automatic replacement of fully charged batteries, according to NIO.

NIO's assisted driving software covering urban areas is called NAD (NIO Autonomous Driving), and the system is not yet available.

(NASDAQ: LI) unveiled its latest generation of assisted driving system, AD Max 3.0, on the first day of the Shanghai auto show on April 18. The system's all-scenario Navigation on ADAS (NOA) will kick off internal testing this quarter and will cover more than 100 cities by the end of the year, Li Auto said at the time.

XPeng says G6 gets over 25,000 orders 72 hours after pre-sale starts

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China NEV retail sales in Jun 1-11 at 160,000, down 4% from same period last month, CPCA data show

From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month.

(Image credit: CnEVPost)

The Chinese passenger car market was weak in the first two weeks of June, while the new energy vehicle (NEV) market performed slightly better.

From June 1 to June 11, retail sales of passenger NEVs in China were 160,000 units, up 18 percent year-on-year but down 4 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).

So far this year, China's retail sales of passenger NEVs were 2,581,000 units, up 39 percent year-on-year.

From June 1 to June 11, wholesale sales of passenger NEVs in China were 144,000 units, up 18 percent year-on-year and up 3 percent from the same period last month, according to the CPCA.

Wholesale sales of passenger NEVs so far this year were 2,927,000 units, up 45 percent year-on-year.

From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month, the CPCA said.

So far this year, cumulative retail sales of passenger cars in China were up 3 percent year-on-year to 8.057 million units.

This means that from June 1 to June 11, the penetration of NEVs at retail in China was 37.6 percent, and 32.03 percent so far this year.

In the first week of June -- June 1-4 -- the average daily retail sales of passenger cars in China were 31,000 units, down 9 percent from a year ago and 42 percent lower than the same period last month.

In the second week of June -- June 5 to 11- - average daily retail sales of passenger cars were 43,000 units, down 10 percent year-on-year and down 14 percent compared to the same period in May.

The decline in sales in early June was mainly due to a high base from last year brought about by stimulus policies.

On May 31, 2022, China announced a 50 percent reduction in vehicle purchase tax for passenger vehicles of 2.0 liter and below displacement with a purchase date between June 1, 2022 and December 31, 2022 and with a vehicle price not exceeding RMB 300,000 ($ 41,900).

Before the policy took effect, China's purchase tax rate for internal combustion engine (ICE) vehicles was 10 percent, while the purchase of NEVs was exempt from purchase tax.

The stimulus policy left car sales high at the beginning of June last year, while the same period this year was a normal sales time, so a decline in sales is natural, the CPCA said today.

The CPCA did not release sales figures for specific car companies, but shared some numbers yesterday.

Li Auto sold 11,900 units from June 1 to June 11, figures shared yesterday by the extended-range electric vehicle (EREV) showed. The company did not specify, though the figures are based on vehicle insurance registrations.

(NASDAQ: TSLA) sold 26,000 units in China from June 1-11, while (NYSE: NIO) had 2,800 and (NYSE: XPEV) had 2,200, according to Li Auto.

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Data table: China auto sales in 1st 2 weeks of Jun

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Tesla, NIO to take part in Shenzhen auto show starting Jun 16

This will be 's first presence at an auto show in China since April 2021, and will exhibit the ET5 Touring at the event and will hold a brief press conference on June 16.

(Image shows NIO's booth at the Shanghai auto show in April 2023. Credit: CnEVPost)

The southern Chinese city of Shenzhen will host an auto show starting this Friday, with Tesla (NASDAQ: TSLA) and new Chinese carmakers including NIO (NYSE: NIO) participating.

The 2023 Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show (Auto Shenzhen 2023) will be held at the Shenzhen Convention and Exhibition Center starting June 16, where Tesla is one of the main exhibitors, according to information released today by the show's organizers.

This will be Tesla's first participation in an auto show in China since the Shanghai auto show in April 2021.

On April 19, 2021, on the first day of the last Shanghai auto show, a female owner got on the roof of a car at the Tesla booth and accused Tesla of brake failure. As of today, the dispute is still ongoing.

Since the drama, Tesla has not participated in any more auto shows in China, including the 2023 Shanghai auto show two months ago.

June 16 is the media day for the upcoming show, and general admission will be available from June 17 to June 24.

Tesla's booth is located in Hall 9 on the 1st floor, next to 's (NYSE: XPEV) booth. The booths of -backed AITO, Smart, Leapmotor, Rising Auto, and Voyah are also in the area.

NIO will also be at the show and will be showcasing the ET5 Touring, according to the event's organizers.

The day before that show starts, NIO will launch the ET5 Touring in China on June 15, with its launch event starting at 19:00 Beijing time. The company will also launch the ET5 Touring and the new ES6 in Europe a few hours later on the same day.

NIO's booth at the Shenzhen auto show is in Hall 3, near the booths of Bentley and Lotus. The company will hold a press conference at the show on June 16 from 10:00 to 10:30.

The last show, Auto Shenzhen 2022, started on May 28, 2022 and ran through June 5. It was the first auto show in China last year.

NIO's booth at Auto Shenzhen last year was also in Hall 3, a two-floor area where the first floor displayed the full range of models, a transparent second-generation battery swap station and NIO Power's products. The second floor includes a relaxation area, NIO Cafe, and Joy Camp.

In addition to Tesla, NIO and XPeng, new energy vehicle (NEV) makers including (OTCMKTS: BYDDY), (NASDAQ: LI) and will also participate in Auto Shenzhen 2023.

Store visit: First impression of NIO ET5 Touring before official launch

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NIO denies after rumors of partnership with Mercedes-Benz swirl

A fake rumor yesterday claimed that Mercedes-Benz will use 's battery swap network and will build its next-generation models based on NIO's standards.

(Image credit: CnEVPost)

Rumors about a partnership between NIO (NYSE: NIO) and German luxury car maker Mercedes-Benz were widely circulated on Chinese social media networks yesterday. But this was later denied.

One of the most widely circulated was an image with text claiming that Mercedes-Benz would use NIO's battery swap network and would build next-generation battery swap-enabled models based on NIO's standards.

In the comments section of a Weibo user's post sharing the image, NIO's legal department left a message later yesterday saying the image was a forgery.

Ma Lin, NIO's senior director of corporate communications, later retweeted the message. As of press time, the Weibo post has been deleted.

CnEVPost saw the image yesterday in several WeChat groups, as well as a chat transcript claiming that NIO had entered into a partnership with Mercedes-Benz.

The image mimics the style of the NIO App page and the company's statement, but the publisher of the false statement does not exist among NIO App users.

These false rumors appear at an interesting point in time, making it particularly noticeable.

On June 12, NIO announced an immediate RMB 30,000 ($4,200) reduction in the starting prices of all new models, but the previously free monthly battery swap service became a paid option.

On the same evening, NIO held a communication meeting with its customers and broadcasted the meeting live on its social media platforms.

William Li, NIO's founder, chairman and CEO, said in response to a question during the communication that several companies are now talking to NIO about using its battery swap network, according to the live stream watched by CnEVPost.

However, they will need to develop vehicles to NIO's battery swap standard, which takes time, Li said.

It's worth noting that these statements are not materially different from previous comments made by NIO management, which Li also said at the communication that they were diplomatic.

Li last mentioned similar remarks two months ago, when he said in an April 1 media group interview during the China EV 100 Forum that NIO wants other companies to share and build battery swap infrastructure with it.

"I met with several company executives today and they asked me how we could work together, and we're open to that," he said on April 1.

NIO refers to its battery swap model as battery as a service (BaaS), an innovation that can be understood through the lens of cloud services, Li said at the time.

The cloud services around the world, whether they are offered by Microsoft, Google and Amazon in the US or Alibaba, Tencent and in China, they all have one thing in common -- the companies themselves are the primary users, he said.

Despite frequent rumors over the past two years, as of yet no other car company has said it will use NIO's battery swap network.

In addition to the NIO brand, another brand that will use these battery swap stations will be the company's sub-brand, codenamed ALPS, which is expected to start delivering vehicles next year.

NIO's current plants can support the production of vehicles under both NIO and ALPS brands, and no major Capex investment is required, Li said in a June 9 analyst call following the announcement of first-quarter earnings.

Current battery swap stations are sufficient for both brands to share, he said.

($1 = RMB 7.1639)

NIO's battery swap network open to other brands, just like cloud service, says William Li

The post NIO denies after rumors of partnership with Mercedes-Benz swirl appeared first on CnEVPost.

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