149,900 yuan (21,700 USD) will buy this EV developed by Huawei, CATL and Changan.
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NIO plans to launch EV priced below 30,000 euros in Europe, report says
NIO aims to grab market share from Volkswagen by introducing a model priced below 30,000 euros to the European market, a German magazine quoted William Li as saying.
(Image credit: CnEVPost)
NIO (NYSE: NIO) aims to grab market share from Volkswagen by introducing a model to Europe priced under 30,000 euros ($33,060), according to a Reuters report today.
William Li, the founder, chairman and CEO of the Chinese electric vehicle company, told German magazine Der Spiegel about the plan, according to the report.
"Yes, in terms of price that means we are also attacking Volkswagen more strongly than before," Der Spiegel quoted Li as saying, without providing further details.
Li has previously said on several occasions that NIO is creating two sub-brands codenamed ALPS and Firefly to target the broader mass market.
On January 26, NIO co-founder and president Qin Lihong said at a face-to-face communication with owners that NIO is preparing models for a sub-brand codenamed ALPS, with deliveries expected to begin within 2024.
The Firefly project is also in the planning stage and will be delivered first to European consumers, Qin said.
A smaller model of NIO is in development and will debut in Europe and is expected to be available in the third quarter of 2024, according to Qin.
A source told CnEVPost on January 31 that NIO's F4 plant for the Firefly project will be located in Chuzhou, Anhui province, while the F3 plant for the ALPS project will continue to be located in Hefei, which is home to two current NIO plants.
The F4 plant will also assemble vehicles for the Firefly project and produce some parts, the source said, adding that the brand will initially produce vehicles mainly for export to Europe, with production scheduled for the third quarter of 2024.
The Chuzhou plant will produce small cars priced at around 100,000 yuan (15,000), the source said.
The F3 plant, which will remain located in NeoPark, will mainly produce models under the mid- to high-end sub-brand internally codenamed ALPS, targeting a market with prices ranging from RMB 150,000 to RMB 300,000, according to the source.
On February 21, local media Cailian reported, citing sources familiar with the matter, that NIO's fourth vehicle assembly plant will be located in Chuzhou, Anhui province, and will produce models of the Firefly.
The Firefly model will first be sold in Europe, targeting the Volkswagen POLO market, Cailian said, citing the source, adding that, like NIO's other products, they will support battery swap.
Compared to the main NIO brand and the ALPS program, the Firefly models will have weaker smart driving features, but they will still have a significant smart advantage over the European carmaker's offerings, the source said.
NIO is currently switching models based on the NT 1.0 platform to the NT 2.0 platform, while the ALPS project, which targets a price tag of around RMB 200,000, will be based on the NT 3.0 platform, a Yicai report said on February 21.
The main NIO brand's models are too large for European consumers, and the Firefly project's smaller models will be more popular with European consumers, Yicai said, citing an unnamed NEV company executive.
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NIO’s single-day battery swap service hits record high on Labor Day eve
On April 28, NIO saw a record 62,746 battery swap services provided in a single day, with the stations along highways providing 104 percent more service than the previous day.
NIO (NYSE: NIO) saw its battery swap stations reach a new record high in services as China heads into the Labor Day holiday travel rush.
On April 28, NIO provided a record 62,746 battery swap services in a single day, the company announced today.
April 29 to May 3 is the Labor Day holiday in China this year, which is usually the peak of driving trips for Chinese people.
NIO owners will have free and unlimited access to the company's battery swap stations along highways from April 28 to May 4, although vehicles used for operations are excluded, it announced on April 25.
Most NIO owners currently have the benefit of four to six free battery swap services per month, with a few early adopters having unlimited access.
On April 28, NIO's battery swap stations along highways provided 16,584 free services to owners, up 104 percent from 8,115 the previous day, according to figures released today.
This is the second time NIO has offered such benefits to owners after the Chinese New Year holiday earlier this year.
NIO offered free access to battery swap stations from January 13 to February 5 during the Chinese New Year holiday, which ran from January 21 to January 27.
On January 27, NIO's battery swap stations provided 62,356 services in a single day, which was the previous high.
As of April 29, NIO had 1,379 battery swap stations in China, 364 of which are located along highways.
The company also has 2,536 charging stations in China, offering 15,068 charging piles, according to data monitored by CnEVPost.
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NIO suffers complaints from ES7 owners who believe upcoming new ES6 hurts their interests
Disgruntled ES7 owners have asked NIO to offer additional benefits as compensation, but have been denied. | NIO US | NIO HK | NIO SG
(Image credit: CnEVPost)
The new ES6 will be a strategically important model for NIO (NYSE: NIO), and it has sparked complaints from ES7 owners ahead of its official launch.
Many ES7 owners recently formed WeChat groups in order to collectively protest to NIO that the automaker has betrayed them because the new ES6 will not only have lower prices, but also have competitive edges with their vehicles.
As background, the NIO ES7 was launched on June 15, 2022, and is the company's second model based on the NT 2.0 platform, and the first SUV on the second-generation platform.
The NIO ES7 is currently offered in two versions, priced at RMB 468,000 ($67,710) and 548,000 including the battery. If consumers choose to purchase using the battery rental service BaaS, the starting price is RMB 398,000.
NIO began deliveries of the ES7 on August 28, 2022, with a cumulative total of 15,123 units delivered by the end of January this year, according to data monitored by CnEVPost. Delivery figures for the model in February and March are not available.
The NIO ES7 is similar to the new NIO ES8 in appearance and key specifications, but is smaller in size and less expensive. Previously, the model that sits behind the flagship ES8 in NIO's product array was the ES6.
It is worth noting that the ES7 is not the NT 2.0 version of the old ES6. The old ES6, based on the NT 1.0 platform, was still on sale after the ES7 was released.
On April 18, NIO officially launched the 2023 ET7 sedan on the first day of the Shanghai auto show and unveiled the ES6.
(Image credit: CnEVPost)
Pre-orders for the new ES6 are already being taken, but the official launch will be in late May. William Li, founder, chairman and CEO of NIO, said the model will move quickly from official launch to delivery.
Although NIO has not yet announced the prices of the new ES6, the model is widely seen as starting at less than RMB 400,000, considering that the old ES6 previously had a starting price of RMB 386,000 including the battery.
The unveiling of the new ES6 has unexpectedly sparked discontent among many ES7 owners, who believe the upcoming SUV has a strong appeal but significantly lower prices, despite the ES7's stronger features and space.
These owners also believe that the ES7 uses many NT 1.0 platform components, while the new ES6, by contrast, uses all NT 2.0 platform components.
To calm the discontent of these ES7 owners, NIO held a communication meeting with them on April 27, with Li's personal participation.
However, a recording circulating on the Internet shows that the communication was inconclusive, and Li denied the owners' request for additional benefits, despite a lot of pressure from them.
Notably, on Weibo, a large number of users expressed support for Li, arguing that the owners' demands were unreasonable and that NIO should stick to its current stance.
($1 = RMB 6.9121)
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NIO sues vlogger for $290,000 for spreading false information
NIO has accused a Douyin vlogger of spreading false information about its price discrimination against Chinese consumers.
(Image credit: CnEVPost)
NIO (NYSE: NIO) is taking increasingly tough measures to counter voices on social networks that damage its reputation.
The electric vehicle (EV) maker recently sued Cheshiji, a vlogger with 6.5 million followers on the short video platform Douyin, for allegedly spreading false information and violating its reputation, local media outlet Sina Tech reported yesterday.
NIO is demanding a public apology from the blogger on his Douyin homepage and compensation of RMB 2 million ($290,000).
In a video dated June 2, 2022, the vlogger said that NIO was price discriminating against Chinese consumers because the flagship SUV ES8 was priced at RMB 470,000 to RMB 630,000 in China, significantly higher than the model's approximate RMB 410,000 to RMB 460,000 price tag in Norway.
NIO said the vlogger improperly compared the ES8's prices in China including the battery to the model's prices in Norway without the battery, and deliberately ignored the fact that Norway exempts EVs from import duties and value-added tax.
These actions mislead the public into thinking that NIO is discriminating against Chinese consumers in terms of prices, NIO said.
The video received more than 330,000 likes, which NIO believes has had a serious negative impact on the company's brand reputation.
NIO believes that the vlogger deliberately made the inappropriate comparison knowing that NIO's models have prices that include batteries, as well as prices based on the Baas (battery as a service) business model, which is not a work error.
The vlogger was well aware of the differences between the two NIO purchase options and prices, and this evidence suggests that his actions to degrade NIO's brand image were intentional, the company said.
NIO said the base prices of its models are essentially the same worldwide, with the difference being that it takes into account factors including shipping costs, local taxes and operating costs in different regions.
It is the latest move by NIO to assert its brand image, which the company has rarely been tough about before.
Last month, another vlogger on the Douyin platform, Laotan Shuoche, was ordered to apologize and pay damages to NIO for spreading false information.
The blogger was found guilty of violating NIO's reputation rights and was required to publish an apology on his channel and pay financial damages of RMB 80,000.
($1= RMB 6.9121)
Vlogger ordered to apologize and pay damages to NIO for spreading false info
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NIO EC7 wait time becomes longer, ET7 shorter
The wait time for the NIO EC7 is now about 5 weeks, longer than the previous 4 weeks, and the ET7 is about 3 weeks, down from about 4 weeks. | NIO US | NIO HK | NIO SG
(Screenshot on April 28.)
The wait time for NIO's (NYSE: NIO) coupe SUV EC7 became slightly longer on the day deliveries began, while the wait time for its flagship sedan ET7 became shorter.
The expected delivery date for the NIO EC7 is now about 5 weeks, up from about 4 weeks previously, information from the NIO App monitored by CnEVPost shows.
The model was launched on NIO Day 2022, December 24, 2022, and the first deliveries began on April 28, slightly ahead of NIO's original plan of mid-May.
On April 21, the NIO App saw significant changes to the vehicle configurator, and the ET7 flagship sedan wait time started showing again, with the EC7 going from May to about 4 weeks.
NIO ET7 now has a wait time of about 3 weeks, compared to about 4 weeks previously.
NIO's website and app currently showcase seven models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, and ET5.
In the vehicle configurator of the NIO App, there are 5 models available -- new ES8, ES7, EC7, ET7, ET5. The configurator of the new ES6 and EC6 based on the NT 1.0 platform is not available.
Wait time information for all other NIO models remains unchanged, with the new ES8 still showing deliveries expected to start in June, the ES7 waiting time is about 3 weeks, and the ET5 about 2 weeks.
On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7 and unveiled the new ES6. The price of the new ET7 is the same as the previous version, while the price of the new ES6 was not announced.
NIO EC7 officially started delivery on April 28, earlier than the original plan of mid-May.
NIO did not announce the number of EC7s delivered in the first batch, but said the company held delivery ceremonies in cities including Hefei, Shenzhen, Guiyang, Wuhan, Hangzhou, Suzhou, Taizhou and Nanjing.
NIO begins deliveries of EC7 coupe SUV earlier than originally planned
Changes in wait times for NIO models
| Date | Model | Prev | Change | Latest |
|---|---|---|---|---|
| 04/28/23 | ET7 (NT 2.0) | About 4 weeks | ↓ | About 3 weeks |
| 04/28/23 | EC7 (NT 2.0) | About 4 weeks | ↑ | About 5 weeks |
| 04/25/23 | ES7 (NT 2.0) | 3-5 weeks | ↓ | About 3 weeks |
| 04/21/23 | ET7 (NT 2.0) | NA | NA | About 4 weeks |
| 04/21/23 | EC7 (NT 2.0) | Mid May | NA | About 4 weeks |
| 04/17/23 | ES7 (NT 2.0) | About 2 weeks | ↑ | 3-5 weeks |
| 04/14/23 | ES6 (NT 1.0) | About 2 weeks | NA | Stop showing |
| 04/10/23 | ET5 (NT 2.0) | About 3 weeks | ↓ | About 2 weeks |
| 04/10/23 | ES7 (NT 2.0) | About 3 weeks | ↓ | About 2 weeks |
| 03/28/23 | ET5 (NT 2.0) | 3-4 weeks | ↓ | About 3 weeks |
| 03/28/23 | ES7 (NT 2.0) | 4-6 weeks | ↓ | About 3 weeks |
| 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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Gotion posts 135% year-on-year profit growth in Q1, site for US battery plant nears finalization
Gotion is in the process of exploring a battery plant in the US, and the site is close to being decided, a company executive said.
Gotion High-tech, the Volkswagen-backed Chinese power battery giant, reported strong first-quarter results and revealed more about the company's plans to build a battery plant in the US.
Gotion reported first-quarter revenue of RMB 7.18 billion yuan ($1.04 billion), up 83.16 percent from a year earlier, despite a 16.8 percent decrease from the fourth quarter, according to an exchange announcement Friday from the Shenzhen-listed company.
The year-on-year increase in revenue was mainly due to growth in sales, Gotion said in the announcement.
The company reported a net profit of RMB 75.61 million in the first quarter, up 134.81 percent from a year earlier, but down 53.04 percent from the fourth quarter last year.
China's new energy vehicle (NEV) sales saw strong growth in the fourth quarter of last year, as consumers seized the last chance to get state subsidies for NEV purchases. For the first quarter, while it is usually a slow time for auto consumption, a rare price war this year delivered an additional blow.
China's first quarter NEV sales were 1.32 million units, up 23.72 percent year-on-year, but down 26.62 percent from the fourth quarter of last year, according to the China Passenger Car Association (CPCA).
Gotion, China's fourth-largest power battery manufacturer, saw its performance reflect these seasonal trends.
In March, Gotion installed 1.25 GWh of power batteries in China, ranking fourth with a 4.51 percent share, according to the China Automotive Battery Innovation Alliance (CABIA).
Gotion aims to exceed 300 GWh of capacity by 2025, according to its previously announced plans.
In addition to its quarterly earnings report, Gotion announced its annual report, which showed it had revenue of RMB 23.05 billion in 2022, up 122.59 percent year-on-year.
Gotion's revenue in overseas markets in 2022 was RMB 2.98 billion, up 464.76 percent year-on-year.
The company's profit in 2022 was RMB 199 million, up 408.87 percent year-on-year.
US battery factory nears
Gotion is conducting an in-depth exploration of building a battery factory in the US, and the site is now close to being determined, the company's vice president of international operations Ray Chen said Friday while speaking with media, including CnEVPost, at its Hefei headquarters.
The company is well on its way to building a plant in the US as an early move to capture the explosive growth opportunities in the US and Europe in 2025-2027, Chen said.
Influenced by the Inflation Reduction Act, Gotion's US plant is necessary, he added.
"The US and Europe are at the point where rapid growth is about to begin in this industry, and we certainly can't afford to give that business away," Chen said.
Gotion is currently selling batteries to US customers through exports, with sales expected to be $500 million this year, according to the company.
Notably, on October 5 last year, Michigan Governor Gretchen Whitmer said in a statement that Gotion chose to build its $2.36 billion battery component manufacturing facility in Big Rapids.
The Michigan Strategic Fund (MSF) Board approved the investment by Gotion, which will launch a multi-phase project in Big Rapids to build a battery component manufacturing facility there to serve its entire North American and global customer base, according to the statement.
Once completed, Gotion's plant is expected to produce 150,000 tons of cathode material per year, with two 550,000-square-foot production plants planned as well as other supporting facilities, the statement said.
Gotion chairman Li Zhen said at the media event Friday that the battery materials plant is sited in Michigan partly because of the relatively inexpensive supply of hydroelectric power in the area.
Gotion has been in contact with the local government for about two years, and final approval for the plant is pending, Li added.
($1 = RMB 6.9150)
Gotion to build $2.36 billion battery materials plant in Michigan
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NIO begins deliveries of EC7 coupe SUV earlier than originally planned
The EC7 was launched on NIO Day 2022, December 24, 2022, and NIO had planned to begin deliveries of the model in mid-May.
(Image credit: NIO)
NIO (NYSE: NIO) began the first deliveries of the EC7 coupe SUV today, surprisingly ahead of its original schedule.
Deliveries of the NIO EC7 officially kicked off on April 28, the company said today on its mobile app, and shared several images.
NIO did not announce the number of EC7s delivered in the first batch, but said the company held delivery ceremonies in cities including Hefei, Shenzhen, Guiyang, Wuhan, Hangzhou, Suzhou, Taizhou and Nanjing.
The EC7 was launched on NIO Day 2022 on December 24, 2022, and the new ES8 was also launched at the event.
NIO announced plans at the time that deliveries of the EC7 would begin in May and deliveries of the new ES8 would begin in June.
The company began allowing consumers to lock in orders for the EC7 and test drive the vehicle on April 10. It said at the time that deliveries of customized vehicles for the EC7 would begin in mid-May.
The early start of EC7 deliveries could be part of NIO's effort to accelerate making its new models available to boost weak sales.
NIO delivered 10,378 vehicles in March, up 3.94 percent from 9,985 a year earlier but down 14.6 percent from 12,157 in February, according to figures it announced on April 1.
NIO's deliveries have been weak so far this month, with insurance registrations for its vehicles totaling slightly above 4,000 units from April 3 to April 23.
The EC7, NIO's second coupe SUV after the EC6, is 4,968 mm long, 1,974 mm wide and 1,714 mm high, with a wheelbase of 2,960 mm.
For comparison, the EC6 is 4,850 mm long, 1,965 mm wide and 1,731/1,714 mm high, with a wheelbase of 2,900 mm.
NIO offers an intelligent dimming glass option for the EC7's roof, the first time the company has introduced this option in one of its models.
The EC7 has a wind resistance coefficient of just 0.23 Cd, which NIO said is the lowest of any mass-produced SUV in the world.
The model is equipped with a 180-kW permanent magnet motor up front and a 300-kW induction motor in the rear, allowing the motor to reach a combined peak power of 480 kW. The powertrain allows the EC7 to accelerate from 0 to 100 km/h in 3.8 seconds, making it NIO's fastest-accelerating SUV.
NIO currently offers three versions of the EC7, including a version with a 75-kWh standard range battery pack, a version with a 100-kWh battery pack, and a premiere version with a 100-kWh battery pack.
Including the battery, the starting prices for these three versions are RMB 488,000 ($70,560), RMB 546,000 and RMB 578,000 respectively.
Customers who choose NIO's battery rental program BaaS (battery as a service) to purchase the car will see the prices start at RMB 418,000 for both regular versions and RMB 450,000 for the premiere version. Their monthly battery rental costs are RMB 980 yuan, 1,680 yuan and 1,680 yuan respectively.
(1 $= RMB 6.9165)
Insurance registrations for week ending Apr 23: Tesla 10,300, Li Auto 7,200, NIO 2,000
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MG Cyberster exclusive test drive: here’s all you need to know
What does sitting behing the wheel of the MG Cyberster feel like?
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Geely’s Radar RD6 launches a 4,800 USD cheaper base model
Electric pickup with 410km range now costs 145,800 yuan (21,000 USD)
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