Tagged: China

Saudi Arabia signs $5.6 billion deal with Chinese EV maker Human Horizons

The deal accounts for over half of the more than $10 billion in investments signed on the first day of the Arab-China business conference in Riyadh on Sunday.

Saudi Arabia signs $5.6 billion deal with Chinese EV maker Human Horizons-CnEVPost

(Image credit: CnEVPost)

Chinese electric vehicle (EV) maker Human Horizons is planning to enter more countries despite the weak performance of its premium HiPhi brand in its home market.

Saudi Arabia's Ministry of Investment has signed a $5.6 billion deal with Human Horizons to cooperate in developing, manufacturing and selling cars, Reuters said in a report today, citing a statement from Saudi Arabia's state news agency.

The agreement accounts for more than half of the more than $10 billion in investments signed on the first day of the Arab-China business conference in Riyadh on Sunday, the report noted.

Saudi Arabia has been pushing for increased investment in non-oil sectors as part of its diversification agenda. Part of its plan is to develop domestic EV manufacturing, the report said.

Human Horizons unveiled the HiPhi X, the first model of the HiPhi brand, in October 2020, and deliveries of the model began in China in May 2021.

The HiPhi X starts at RMB 570,000 ($79,820) for the six-seat version and up to RMB 800,000 for the four-seat version.

In August 2022, Human Horizons officially launched its second model under the HiPhi brand, the HiPhi Z. The model is available in five-seat and four-seat versions with starting prices of RMB 610,000 and 630,000 respectively, and deliveries began at the end of January this year.

In February, HiPhi's third model, the HiPhi Y, appeared on one of the Chinese industry regulator's filing list. The model has not yet been officially launched, although late last month a HiPhi executive hinted that the model's starting price is expected to be RMB 369,000.

Sales of HiPhi models have been weak in China, never making into the monthly sales rankings published by the China Passenger Car Association (CPCA).

On March 31, Reuters quoted a Human Horizons executive as saying the company would launch the HiPhi brand in select European markets later this year.

($1 = 7.1411 RMB)

Chinese EV startup Enovate to build production base in Saudi Arabia with annual capacity of 100,000 units

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Tesla says rumors that FSD will start pilot run in Shanghai untrue

There were rumors over the weekend that FSD would be running in Shanghai on a pilot basis, but this was denied.

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Rumors over the weekend that Tesla's FSD (Full Self-Driving) will start a pilot run in Shanghai have been denied.

"The information is not true," local media outlet Cailian said in a brief report today, citing a response from Tesla China about the rumors.

On May 12, a Shanghai official said the city would further deepen its cooperation with Tesla and promote the electric vehicle (EV) maker's self-driving and robotics businesses in Shanghai.

Shanghai will work with Tesla to build a technology industry cluster with core technology advantages for the global market, Chen Kele, deputy director of the intelligent manufacturing promotion division at Shanghai Municipal Commission of Economy and Informatization, said at the time.

Chen did not directly mention Tesla's FSD at the time, although it was the first hint of support from Chinese officials for Tesla's software.

Before that, local media outlet Caixin said in an April 3 report that Tesla was about to begin widespread testing of FSD in China.

All Tesla vehicles currently come with the free Basic Autopilot (BAP) software. In addition, Tesla also offers Enhanced Autopilot (EAP), FSD software as an option.

EAP and FSD cost $6,000 and $15,000 in the US, and RMB 32,000 ($4,480) and RMB 64,000 in China, respectively.

On June 9, CITIC Securities analyst Lian Yixi's team said that the trend of Tesla FSD entering China is becoming clearer, which is expected to accelerate the intelligent process of local EVs.

However, this is still facing two major problems from becoming a reality -- data collection qualification and supercomputing centers, according to the team.

Also on June 9, Tesla CEO Elon Musk said on Weibo, the Chinese equivalent of Twitter, that the company would be happy to license Autopilot/FSD or other Tesla technology.

This is the first mention of FSD on Musk's Weibo account since 2021, although the account appears to be managed by Tesla's team in Beijing. The Tesla CEO visited China earlier this month and met with several top Chinese officials.

($1 = RMB 7.1452)

Analysts list 2 major issues Tesla must address before bringing FSD to China

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

The ET5 Touring offers more trunk space while improving the high driver's seat that the regular ET5 was complained about. The key now is the price.

(Image credit: CnEVPost)

NIO (NYSE: NIO) will hold a launch event for the ET5 Touring starting at 19:00 Beijing time on June 15, and the model is already allowing visitors to experience it in its stores before then.

As of June 10, the ET5 Touring show cars are available at 248 NIO stores in 48 cities across China. In Shanghai, where NIO's global headquarters is located, the model is already available at 10 NIO Houses and 15 NIO Spaces.

I went to one of the NIO Houses in Shanghai's Pudong New Area on Sunday, June 11 at around 9 am to check out the model and left at around 10 am.

The store is located in a large shopping district and the office hour start time was 10:00 am. Even though I visited before then, the store staff allowed me to enter.

NIO is one of the strongest local car companies in terms of abilities to build beautiful models, and the ET5 Touring is clearly another well-designed one.

(Image credit: CnEVPost)

It's worth noting that photos of a car give a very different feeling than seeing it in person, and this applies to all models of all brands.

The gray ET5 Touring in the NIO House I visited has very natural body lines. In fact, a non-offensive exterior design is already the basis for a car that is acceptable to most people.

I don't want to discuss too much about its appearance, but you can get a general impression through the pictures in this article.

It should be noted that just a few years ago, for the average Chinese consumer, family cars consisted only of sedans and SUVs, and derivatives of sedans were not considered. You also hardly ever saw a gasoline-powered touring or shooting brake model on the streets of Shanghai.

(Image credit: CnEVPost)

's premium electric vehicle subsidiary is the first of the local brands to try to tap into the sedan derivative market, announcing the all-electric Zeekr 001 shooting brake on April 15, 2021, with deliveries starting in October 2021.

The Zeekr 001 is Zeekr's first model, and it is a brave move to target an unproven market. The model delivered 11,337 units last December, bringing full-year 2022 deliveries to 71,941 vehicles.

The ET5 Touring, a derivative of the regular ET5 sedan, is equipped with the same powerful assisted driving hardware as NIO's other NT 2.0 platform-based models, including a roof-mounted LiDAR, and four NVIDIA Orin SoCs capable of delivering a total of more than 1,000 TOPS of performance.

One of the biggest attractions of the ET5 Touring compared to the regular ET5 is the larger trunk space. Such models give consumers the same driving experience as a sedan while gaining load capacity close to that of an SUV.

(Image credit: CnEVPost)

The ET5 Touring is not yet available for test drives, and NIO will officially launch the model on June 15, with test drives available on that day.

For the regular ET5, many owners have complained about the high seating position in the driver's seat, which may be a deterrent for some potential customers to choose this model.

I got into the driver's seat of the regular ET5 at that NIO House and found that this issue was indeed apparent, especially when compared to my own Model 3 Long Rang, a 2020 purchase.

The regular ET5 feels very much like the driver is sitting in an SUV, even with the seat position cranked all the way down. For the Model 3, on the other hand, the appropriate seating position for me is with the seat height cranked to the middle gear.

NIO has obviously learned this lesson from the regular ET5, and the ET5 Touring driver's seat has a significantly lower seating position. The feeling of sitting in the ET5 Touring driver's seat is almost the same as when I drove my own Model 3.

(Image credit: CnEVPost)

The ET5 sedan seems to have been experiencing demand issues after China's purchase subsidies for new energy vehicles (NEVs) expired at the end of last year, and the price will be critical for the ET5 Touring to make the ET5 family shine again.

Earlier today, NIO announced an RMB 30,000 ($4,200) price cut for the entire new model lineup, effective immediately, but the previously free battery swap service several times a month has become a paid option.

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

For the ET5 Touring, many expect that its starting price in China, including the battery, will likely be RMB 10,000 to 20,000 higher than the regular ET5.

In addition to targeting the new sedan derivative market in China, NIO also hopes to sell the ET5 Touring in Europe, where such models have a higher acceptance.

A few hours after the ET5 Touring's China launch, NIO will hold a European launch event on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time) to launch the ET5 Touring, as well as the EL6, known as the ES6 in China.

BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional

($1 = RMB 7.1415)

(Image credit: CnEVPost)

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

Many visitors have experienced the show cars at stores over the past 3 days, demonstrating their enthusiasm for the G6, it said.

(Image credit: XPeng)

XPeng's (NYSE: XPEV) new SUV, the G6, appears to be getting a good initial reception, the electric vehicle (EV) maker's pre-sale orders announced today showed.

The XPeng G6 received more than 25,000 orders within 72 hours of the start of pre-sales, the company said on Weibo.

Many visitors have experienced the show cars in XPeng stores over the past three days, demonstrating their enthusiasm for the G6, the company said.

Visitors have commented positively on the XPeng G6's space, 755 km range, and fast-charging capability thanks to the 800 V high-voltage platform, XPeng said.

XPeng will announce official configurations and pricing at the end of June, and the company will accelerate its capacity climb and deliver vehicles as early as possible, its chairman and CEO He Xiaopeng said in a retweet of XPeng's Weibo.

XPeng began pre-sales for the G6 on June 9, with pre-sale prices starting at RMB 225,000 ($31,510), significantly lower than the RMB 263,900 starting price of the Model Y in China.

The G6 show cars are already available at XPeng stores, and the model will officially launch on June 29 with deliveries starting in July, the company said last week.

Consumers who pay RMB 2,000 to reserve an XPeng G6 now will receive an RMB 5,000 discount when they pay for the car.

XPeng unveiled a new architecture, called SEPA (Smart Electric Platform Architecture) 2.0, at a technology conference in Shanghai on April 16, saying the G6 would be the first model built on the architecture.

On April 18, XPeng officially unveiled the G6 on the first day of the Shanghai auto show, saying that the G6 is the ultimate form of car before fully autonomous driving is achieved.

The model is based on the 800 V high-voltage platform and can get 300 kilometers of range in as little as 10 minutes on a charge, XPeng said at the time. Another of the company's 800 V-based models is the G9.

It is an all-electric mid-size SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.

For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm, respectively, and a wheelbase of 2,890 mm.

The G6 will be a hot seller in China's new energy SUV market in the RMB 200,000 to 300,000 range and will enable XPeng's total deliveries to grow well above the industry in the third quarter, the company's management said in a conference call with analysts after announcing its first-quarter earnings on May 24.

That means XPeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on May 30.

($1 = RMB 7.1399)

XPeng surges in HK as investors seem to like G6's pre-sale price

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NIO’s William Li responds to price cuts across entire lineup

has been discussing this adjustment internally for a long time, and as of 3 am today the NIO team was still working on it, William Li said.

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NIO (NYSE: NIO) today announced the largest price and benifit adjustment in its history in an attempt to boost sales. The company's helmsman responded to the move.

NIO has been discussing the adjustment internally for a long time, with input and suggestions from some of its customers, William Li, the electric vehicle company's founder, chairman and CEO, said in a reply to an article in the NIO App.

The company had so much to consider for this that the NIO team was still working on it as of 3 am today, he said.

Now is the most appropriate time to announce the change, although the company still has some things to think about and can't make everyone happy, Li said.

NIO lowered the starting prices for all models by RMB 30,000 yuan ($4,200) starting today and made the battery swap service, which was previously offered four or six times a month for free, a paid option.

Under the latest pricing system, NIO's cheapest model, the ET5 sedan, starts at RMB 298,000, and if consumers choose to lease the battery with the BaaS (battery as a service) option, the vehicle starts at RMB 228,000.

The new ES6, which only went on sale and began deliveries late last month, starts at RMB 338,000 under the new pricing system and RMB 268,000 under the BaaS model.

In fact, many NIO supporters in China have been calling for the adjustment on social media for a long time.

NIO initially offered owners unlimited free battery swap service and free home charging piles, and scaled back the entitlement to six free services per month and a free home charging pile a few years later.

On April 10, the company announced that effective June 1, consumers who purchase the NIO ET7, EC7, ES7, and ET5 will no longer receive a free home charger, and the free battery swap entitlement will be adjusted to four times per month.

Since the free battery swap service is directly tied to the sale of NIO vehicles, it discourages potential consumers in areas where the number of battery swap stations is small from taking an interest in NIO vehicles, as they may believe that the cost of their vehicle purchase includes the battery swap service that they will not be able to enjoy in the short term.

At the same time, the high price of NIO vehicles means that its owner base is more likely to have a fixed parking space than other brands, and for these people, charging at home is cheap, making the free battery swap service redundant.

In a June 9 analyst call following NIO's first-quarter earnings announcement, Li said the company was considering adjusting customer benefits, such as free battery swap service that some owners may not need, hinting at today's move.

($1 = RMB 7.1435)

BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional

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BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap service optional

This article is being updated, please refresh later for more content.

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(NYSE: NIO) has significantly lowered the starting prices of its entire lineup of models and made a key free service previously offered as a paid option in an attempt to boost sales.

Starting June 12, the starting prices for all new NIO models will be reduced by RMB 30,000 yuan ($4,200), but the previously free battery swap service, which is offered several times a month, will become a paid option, the company announced today.

Consumers who pay a deposit for an NIO model starting today will receive a 6-year or 150,000 km warranty for the first owner and a 10-year unlimited mileage warranty for the motor, electric control and electric drive systems. They will also receive 6 years of free internet connectivity, 8GB of monthly internet traffic, and free lifetime roadside assistance.

Consumers who pay the deposit for the new ES6 and the new ES8 on or before July 31 will still receive a free home charging pile.

The free battery swap service will no longer be available as a base benefit, and consumers will have the option to get the service for a single payment, NIO said, adding that the company will introduce flexible charging and battery swap service packages.

Customers who pay a deposit for a new NIO vehicle between June 12 and July 31 can pay RMB 30,000 for an upgraded service package, which includes:

Free lifetime battery swap service 4 times a month;

A 10-year unlimited mileage warranty on the vehicle;

Free lifetime car internet connectivity with 8GB of traffic per month;

Lifetime free roadside assistance.

Consumers who pay a deposit for the new ES6 and ES8 on or before July 31, and who also purchase the service package, can choose to forgo the free home charging pile entitlement and upgrade the number of free battery swap services to six per month.

For consumers who have already locked in their orders but have not yet received delivery, NIO will assume that they have purchased the upgrade package and maintain the same purchase price.

However, they can also contact NIO's specialists to cancel the upgrade package before delivery and have the purchase price reduced by RMB 30,000.

For NIO owners who have already received delivery, their benefits remain the same. If they purchase another NIO vehicle, they can choose to transfer the benefits from the original vehicle to the new vehicle.

If they give up the original free battery swap service of 4 or 6 times per month, then they can get a discount of RMB 30,000 when they buy a new NIO model again.

For those owners who originally had unlimited free battery swap for life, they can receive a RMB 50,000 discount on the purchase of a new NIO vehicle if they give up this benefit.

As of today, NIO has 1,484 battery swap stations in China and has provided more than 22.9 million free battery swap services. It also has 15,881 completed charging piles in China.

(1 $= 7.1435 RMB)

NIO keeps goal of doubling sales this year despite price war causing greater challenges

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BYD to build sodium-ion battery production base in Xuzhou

will set up a joint venture with a local conglomerate to build a sodium-ion battery production base in Xuzhou, Jiangsu province.

(Image credit: Huaihai Holding Group)

BYD (OTCMKTS: BYDDY) will set up a joint venture with a local conglomerate to build a sodium-ion battery production base, the first time we've seen it move forward in building capacity for this alternative to lithium batteries.

Huaihai Holding Group and BYD's battery unit FinDreams signed a strategic cooperation agreement at BYD's Shenzhen headquarters on June 8, according to a press release from Huaihai yesterday.

The two parties will establish a joint venture to build a sodium-ion battery production base in Xuzhou Economic and Technological Development Zone in Jiangsu province to jointly create the world's largest supplier of sodium battery systems for micro vehicles, according to the press release.

Huaihai will provide its resources including markets and application scenarios, and FinDreams will provide products and services, the release said.

Huaihai said it sees the tremendous economic and social value of sodium batteries and began its involvement in the industry years ago with a strategic investment in sodium-ion battery startup Natrium.

Huaihai and FinDreams will expand demand for mini-vehicle batteries nationwide and globally, centered on Xuzhou, it said.

Huaihai's press release provided no further details. The company was founded in 1976 and has operations in small vehicles, electric vehicles, parts and components, and financial services.

Since last November, there have been several rumors that BYD's sodium-ion battery would be in mass production in 2023 and that the first model to carry the battery would be the Seagull.

However, none of these rumors have been confirmed by BYD. BYD launched the Seagull on April 26 with a starting price of RMB 73,800 ($10,350), though no version with the sodium battery is yet available.

On February 23, battery maker Hina Battery unveiled three sodium-ion battery cell products and announced a partnership with Anhui Jianghuai Automobile Group Corp (JAC).

Hina Battery and Sehol -- a joint venture brand between JAC and Volkswagen Anhui -- jointly built a test vehicle with sodium-ion batteries based on the latter's Sehol E10X model.

On April 16, announced that its sodium-ion batteries will first be used in Chery's models. CATL unveiled its first-generation sodium-ion batteries on July 29, 2021, saying that the energy density of the cells alone has reached 160Wh/kg.

On April 20, local media 36kr reported that CATL's and BYD's sodium-ion batteries will both be installed in production vehicles this year, and they will both be a mix of sodium-ion and lithium-ion batteries.

Sodium-ion batteries currently have lower energy density than lithium-ion batteries, but cost less and sodium resources are seen as more abundant and readily available.

In the past two years, as lithium prices continue to rise sharply, sodium-ion batteries are highly anticipated.

However, since the beginning of this year, with the continued decline in lithium prices, sodium-ion batteries are seen as having a reduced cost advantage.

Sodium-ion's abundant resource reserves are difficult to quickly translate into cost advantages, and when the cost of lithium iron phosphate batteries is rapidly declining, automakers are hardly motivated to choose to carry sodium-ion batteries in the short term, the China Passenger Car Association (CPCA) said in a report on May 22.

($1 = RMB 7.1286)

CATL, BYD's sodium-ion batteries both to be in mass production within this year, report says

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NIO to launch ET5 Touring and ES6 in Europe on Jun 15

The ES6 is called the EL6 in Europe because of Audi's trademark lawsuit.

(NYSE: NIO) said yesterday that it would launch new "models" in Europe on June 15, but didn't specify which ones. Now the answer has been revealed.

"We are revealing our new NIO models, the ET5 Touring and the EL6, on 15.06.2023, 19:00 CEST in a global online launch event and you are invited!" the Chinese electric vehicle (EV) maker tweeted today.

The ET5 Touring will be NIO's first new model to be launched simultaneously in the global market, and its Chinese launch will start at 19:00 Beijing time (7:00 am US Eastern time) on June 15, a few hours before the European launch.

That European launch event starts at 1:00 pm US Eastern time on June 15, or 1:00 am Beijing time on June 16.

The EL6 is the SUV known in China as the ES6, which is using a new name in Europe because of the Audi lawsuit. Audi believes NIO's ES8 and ES6 infringe on its trademark rights for its S8 and S6 models.

NIO last held a launch event in Europe on October 8, 2022, when the company introduced the ET7, EL7 and ET5 to European consumers. The EL7 is the ES7 sold in China.

The company launched the new ES6 in China on May 24, and its deliveries began the night of the launch.

Earlier today, a message posted by NIO on its mobile app hinted that the ET5 Touring will be released for consumers in China, Norway, Sweden, Denmark, the Netherlands, and Germany.

The ET5 Touring show car and vehicles for test drives have recently arrived at NIO stores, and test drives will be available on June 15, it said.

NIO began accepting pre-orders for the ET5 Touring in China today, although the model's specifications and price have not yet been announced. Its delivery will begin on June 16, NIO said.

The production team of British automotive media Top Gear will be involved in the ET5 Touring launch event, according to information shared by the NIO App today.

As of today, the ET5 Touring show cars are available at 248 NIO stores in 48 cities across China.

NIO's stores include the flagship NIO Houses as well as the smaller NIO Spaces, and as of May 30, they numbered 118 and 269 in China, respectively, according to data it released on June 1.

NIO to launch ET5 Touring on Jun 15, delivery in China to start next day

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