BYD asks you about F time before the FangChengBao brand launch that is scheduled for June 9.
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Tagged: China
Ford scaling back ambitions for Mustang Mach-E in China amid poor sales
The Mustang Mach-E team will be integrated back into Ford China and the separate entity running the project will be written off in the future, according to local media.
(Image credit: Ford Mustang Mach-E Weibo)
Ford once had high hopes for the Mustang Mach-E's performance in China and set up a separate entity to run the line.
Now, after a long period of weak sales, the US auto giant is reportedly scaling back its ambitions for the program.
Ford China is recently undergoing an organizational restructuring that will see the Mustang Mach-E team integrated back into Ford China and the separate entity that runs the program written off in the future, local media outlet Jiemian said today, citing several sources familiar with the matter.
The organizational restructuring will involve more than 2,000 employees and is expected to be completed in July, according to the report.
Because Mustang Mach-E sales are so poor, the separate company will have trouble taking on losses for long, a person familiar with the matter said.
The integration of the team does not mean the Mustang Mach-E will be withdrawn from China, and the model will continue to be produced by Changan Ford, Ford's joint venture in China, according to the report.
Ford launched the Mustang Mach-E in China in April 2021, with the first deliveries coming on December 26 of the same year.
Zhu Jiang, then head of the program, joined Ford China in June 2020 and was responsible for Mach-E-related operations and management of marketing, PR, sales, service and customer experience.
Zhu joined NIO as vice president of user development in March 2017 and left in March 2020.
In November 2021, Zhu left Ford to join Jidu Auto, Baidu's car-building arm, and earlier today, Jiemian reported that Zhu had left Jidu to join Lucid Motors.
Ford had high hopes for the Mustang Mach-E, setting up a company called Ford Electric Mach Technologies, or FMeT for short, in September 2022.
It was the first independent company in the Chinese market to be established by a foreign auto brand with a deep focus on the development and operation of smart electric vehicles to fully accelerate electrification and intelligence development, Ford said at the time.
Ford will build on its strong R&D capabilities to create products that meet the needs of Chinese consumers, it said.
But Mustang Mach-E sales in China have been weak, well below those of China's major electric vehicle startups.
Mustang Mach-E sales peaked at 1,535 units last December and then declined, selling just 332 units in April, less than a fraction of rival Tesla's Model Y, Jiemian's report said.
Notably, last December's sales peak appears to have been driven by incentives introduced by Ford.
On October 24, 2022, Tesla lowered the prices of the entire Model 3 and Model Y lineup in China, with the entry-level, rear-wheel-drive Model Y's subsidized starting price dropping to RMB 288,900 ($40,610), down from the previous 316,900.
A few days later, on October 31, Ford announced a price cut for the entire Mustang Mach-E lineup in China, with the subsidized starting price dropping from RMB 275,900 to RMB 249,900.
China's purchase subsidies for NEVs expired at the end of 2022 and had not been renewed.
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Ford offers up to $5,740 discount on Mustang Mach-E in China
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Top 10 best-selling EVs in Q1 2023, Tesla occupied the top 2, and BYD got five seats.
Among the top 10 best-selling EVs, Tesla accounted for 2 and BYD 5. It is worth noting that in addition to Tesla, the other 8 vehicles are all from Chinese companies.
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Zeekr sees 1st production cars of Zeekr X roll off line as delivery nears
The first production vehicles of the Zeekr X rolled off the production line today and will be shipped to stores in various cities, with first deliveries expected to begin in the middle of this month.
(Image credit: Zeekr)
Zeekr, Geely's premium electric vehicle (EV) brand, saw the first production vehicles of its third model, the Zeekr X, roll off the production line as deliveries approach.
The first production vehicles of the Zeekr X rolled off the production line today and will be shipped to stores in various cities, with first deliveries expected to begin in the middle of this month, Zeekr said.
On April 12, Zeekr launched the Zeekr X, a model it hopes will become the benchmark for luxury compact cars.
The Zeekr X comes in three versions, with one starting at RMB 189,800 ($26,670) and the other two at RMB 209,800.
The Zeekr X has been available for pre-order since its launch, and the model aims to deliver 40,000 units this year.
Zeekr was officially launched as a separate company in March 2021, and models currently on sale include the Zeekr 001 hatchback and the Zeekr 009 MPV, both of which are built at the company's plant in Ningbo, Zhejiang province.
The Zeekr X is not built in Ningbo, but at a Geely plant in Chengdu, Sichuan province, which CnEVPost visited in April and saw the highly automated production line.
(Image credit: CnEVPost)
The plant that produces the Zeekr X incorporates advanced manufacturing technologies including 5G, AI, and industrial big data to drive product development with a digital twin, Zeekr said in a press release today.
The factory's smart manufacturing system has a rigorous, comprehensive, and high standard of quality testing to ensure the quality of the Zeekr X, the company said.
As the delivery of the Zeekr X enters its countdown phase, Zeekr's channel touchpoints are in full swing, it said.
(Image credit: CnEVPost)
As of May 31, Zeekr's direct stores are opening at an average rate of one store every two days and now cover 73 cities, including 304 stores, the company said.
Zeekr delivered 8,678 vehicles in May, up 100.42 percent from 4,330 vehicles in the same month last year and up 7.12 percent from 8,101 vehicles in April.
This is the fourth sequential increase in monthly deliveries for Zeekr, after a big drop in deliveries in January due to the shutdown of the Ningbo plant for upgrades.
Zeekr launches Zeekr X SUV to gain further share from market dominated by German luxury automakers
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New BYD Song Plus hit pre-sales in China with a starting price of 23,800 USD
The BYD Song Plus Campion Edition hit the pre-sales in China with a starting price of 23,800 USD and 605 km of range in an electric version.
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The first mass-produced car of Zeekr X officially rolled off, starting at 26,600 USD
The Zeekr X, an electric SUV from Geely, was released in April. Geely plans to sell the car in Europe at a later date.
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ET5 Touring said to be available at NIO showrooms in China starting Jun 10
The ET5 Touring has arrived at NIO stores and will be available in NIO showrooms on the evening of June 9, and those interested can check it out on June 10, according to a blogger who has been following NIO for a long time.
(Image credit: @肉肉爸比ev)
The ET5 Touring, a derivative of NIO's (NYSE: NIO) ET5 sedan, hasn't been officially launched yet, but it's no longer a secret.
The ET5 Touring has quietly arrived in NIO stores, longtime NIO follower and car blogger @肉肉爸比ev said on Weibo today.
The model will enter NIO's showrooms on the evening of June 9 and those interested can check it out on June 10, the blogger said, without providing any more information.
Notably, NIO has not yet announced an official launch date for the ET5 Touring, and the electric vehicle (EV) maker will announce first-quarter earnings before the US stock market opens on June 9 and then hold an analyst call.
On June 2, car blogger Wu Ying, who has about 1 million followers on Weibo, said the ET5 Touring will be launched on June 15.
On June 5, the first slide on the front page of NIO's English website showed a picture of part of the interior details of a model, with the text "Inspired By Life."
The date on the image implies that the event will take place on June 15.
The information on NIO's website does not suggest that the model is the ET5 Touring, but the image shows that it does not appear to have a HUD (heads-up display), and the ET5 is currently the only one in NIO's product lineup that does not support HUD.
NIO plans to launch a new model based on NT 2.0, the ET5 Touring, a midsize smart electric wagon that will begin deliveries to customers in June, it said when it announced May deliveries on June 1.
The ET5 Touring will be launched globally in June and deliveries will begin in China, it said in a separate press release.
For the ET5 Touring, Deutsche Bank analyst Edison Yu's team expects pricing of RMB 335,000 ($47,030) - RMB 345,000, which would be slightly higher than the regular ET5's RMB 328,000.
NIO management aims to capitalize on the success of the Zeekr 001, which proves there is a sizable local market for luxury sport EV wagons, the team said in a research note sent to investors on June 5.
The ET5 Touring has been seen frequently in Europe as well as China over the past two months.
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NIO Q1 earnings preview: Struggling along for another quarter
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BYD begins pre-sales for 2023 Song Plus series SUVs as its model changeover continues
Pre-sales for the new Song Plus DM-i start at RMB 169,800 and the Song Plus EV at RMB 179,800.
(Image credit: BYD)
BYD (OTCMKTS: BYDDY) has been rolling out updated versions of its existing models over the past few months, and now it's the turn of the Song Plus line of SUVs.
BYD today began pre-sales of the 2023 Song Plus DM-i and Song Plus EV, and as it has done previously, the new energy vehicle (NEV) giant is naming these improved models Champion Editions.
BYD stopped production and sales of vehicles powered entirely by internal combustion engines in March 2022 to focus on plug-in hybrid models and pure electric models, the former being the DM series and the latter being the EV series.
Its product array includes the Dynasty series and the Ocean series, while the Song family models include both the Song Pro DM-i and Song Max DM-i in the Dynasty series and the Song Plus models in the Ocean series.
The new Song Plus DM-i is available in four versions with starting prices of RMB 169,800 ($23,810), RMB 179,800, RMB 189,800 and RMB 199,800 respectively.
The previously available BYD Song Plus DM-i was offered in seven versions with starting prices ranging from RMB 154,800 to RMB 218,800.
This means that the starting price of the 2023 Song Plus DM-i has been increased by RMB 15,000.
It is worth noting, however, that the Song Plus DM-i's two previously least expensive versions had an NEDC battery range of just 51 kilometers, which BYD has eliminated on the improved versions of the model.
The entry-level version of the new Song Plus DM-i has a battery range of 110 km and costs slightly more than the previous 110 km range version at RMB 167,800.
Nevertheless, BYD is likely to let the price drop when the model is officially launched, as is its usual practice.
The Song Plus EV Champion Edition also comes in four versions, starting at RMB 179,800, RMB 189,800, RMB 199,800 and RMB 219,800 respectively.
The previously available 2022 Song Plus EV has only two versions, with starting prices of RMB 186,800 and RMB 203,800 respectively. They both have an NEDC range of 505 km.
This represents a RMB 7,000 reduction in the starting price of the 2023 Song Plus EV.
The length, width and height of the new BYD Song Plus are 4,775 mm, 1,890 mm and 1,670 mm respectively, with a wheelbase of 2,765 mm.
For comparison, the old Song Plus has a length, width and height of 4,705 mm, 1,890 mm and 1,680 mm, respectively, and a wheelbase of 2,765 mm.
This means that the new Song Plus is longer but lower than the previous model.
The Song Plus DM-i Champion Edition is powered by an engine with a maximum power of 81 kW and uses an electric motor with a maximum power of 145 kW and a top speed of 170 km/h.
Compared to the old Song Plus DM-i, the engine power of the new model remains the same, but the electric motor power is higher than the 135 kW of its predecessor.
The Song Plus DM-i Champion Edition is available in two pure electric range versions with NEDC ranges of 110 km and 150 km and battery pack capacities of 18.3 kWh and 26.6 kWh, respectively.
The 2022 Song Plus DM-i has an NEDC range of 51 km, 100 km and 110 km and a battery pack capacity of 8.3 kWh and 18.3 kWh, respectively.
The Song Plus EV Champion Edition has two range versions with NEDC ranges of 520 km and 650 km, and a blade battery capacity of 71.8 kWh and 87.04 kWh, respectively.
The older Song Plus EV has an NEDC range of 505 km and a battery pack capacity of 71.7 kWh.
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BYD confident of gaining higher market share in next 3-5 years, says president
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China launches nationwide promotions to boost auto consumption
The moves include holding auto festivals in 100 cities and promoting consumption of NEVs in rural areas.
(Image credit: CnEVPost)
China has launched a nationwide promotion covering the rest of the year to boost auto consumption, which is critical to economic growth.
The Ministry of Commerce (MOC) announced specific arrangements in a notice issued today on a campaign to promote auto consumption, including holding auto festivals in 100 cities and promoting new energy vehicle (NEV) consumption in rural areas.
The MOC will promote local governments and enterprises to introduce initiatives to support auto consumption, use local financial resources, and encourage financial institutions to introduce auto credit financial support measures, according to the notice.
The MOC will organize the launch of the NEV consumption season campaign in the near future and guide various NEV consumption promotion activities in rural areas.
Car companies are encouraged to launch practical models suitable for rural areas, and the MOC will coordinate and promote the improvement of charging infrastructure systems in rural areas.
The China Association of Automobile Manufacturers (CAAM) was asked to organize auto companies to participate in these activities and to introduce preferential initiatives for car purchases, according to the notice.
At the same time, the notice stressed that local government departments should do their part in reviewing fair competition for support policies, including subsidies, that are planned to be introduced to ensure they are universally applicable to all enterprises.
The campaign will run from June to December, according to the notice.
The move comes at a time of weak growth in Chinese auto sales, with the sector facing challenges after state subsidies expired at the end of last year.
China's retail sales of passenger cars rose 28.6 percent to 1.74 million units in May, up 7.3 percent from April, according to data released earlier today by the China Passenger Car Association (CPCA).
From January to May, China's passenger car retail sales were 7.63 million units, up 4.39 percent year-on-year.
NEVs fared slightly better, but at a significantly lower rate than last year.
Retail sales of new energy passenger vehicles in China were 580,000 units in May, up 60.9 percent year-on-year and up 10.5 percent from April, according to the CPCA.
From January to May, retail sales of passenger NEVs in China were 2.42 million units, up 41 percent year-on-year. For comparison, last year's January-May passenger NEV retail sales grew 117.21 percent year-on-year.
China NEV retail up 10.5% MoM to 580,000 in May, CPCA data show
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China contributes 56% of global EV sales in Q1, Counterpoint says
The US overtook Germany as the world's second-largest EV market in the first quarter, while China remained in the lead, Counterpoint said.
(Image credit: CnEVPost)
In the first quarter, the US overtook Germany as the world's second-largest electric vehicle (EV) market, while China still holds the lead, market research firm Counterpoint Research said in a report yesterday.
Global passenger EV sales grew 32 percent year-on-year in the first quarter, with one in seven vehicles sold in the quarter being electric, the report said.
Global EV sales were largely driven by China with 56 percent of total EV sales in the first quarter coming from this market, said Abhik Mukherjee, a research analyst at Counterpoint.
In China, while overall passenger vehicle sales fell 12 percent in the first quarter, EV sales rose a remarkable 29 percent year-on-year, the report said.
The removal of subsidies for NEV purchases in China led to lower-than-expected EV sales in January.
Tesla cut prices on its models globally in January, and then other car brands announced similar price cuts on their models starting in February, which led to improved sales of EVs, the report said.
During the February-March period, nearly 40 automakers, including BYD, NIO, XPeng, Volkswagen, BMW, Mercedes-Benz, Nissan, Honda and Toyota, cut the prices of their vehicles by hundreds to tens of thousands of dollars, which eventually stoked a competitive price war in China, the report noted.
Initially, it was thought that the price war would soon be over and the automakers would benefit from increased sales. However, as the price war continues to stretch, several Chinese automakers have reported reduced earnings or even losses, according to the report.
Globally, battery electric vehicles (BEVs) accounted for 73 percent of all EV sales in the first quarter, while plug-in hybrid electric vehicles (PHEVs) made up the rest.
The top 10 EV models accounted for 37 percent of total passenger EV sales in the first quarter, with Tesla's Model Y remaining the world's best-selling model, followed by Tesla's Model 3 and BYD's Song, Counterpoint said.
In the first quarter, Tesla's Model Y became the world's best-selling passenger car model, even surpassing traditional fuel cars, according to the report.
By the end of 2023, global EV sales are expected to exceed 14.5 million units, said Soumen Mandal, senior analyst at Counterpoint, adding that US EV sales are expected to grow significantly this year with the implementation of the tax credit subsidy.
China NEV retail up 10.5% MoM to 580,000 in May, CPCA data show
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