Tagged: China

XPeng delivers 7,002 vehicles in Mar, up 16.5% from Feb

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delivered 7,002 vehicles in March, a 16.5 percent increase over the previous month. total deliveries for the first quarter of 2023 reached 18,230 vehicles.

XPeng's guidance for deliveries in the first quarter was 18,000 to 19,000 units and revenue guidance was RMB 4 billion to RMB 4.2 billion when it announced its fourth-quarter earnings on March 17.

Below is its press release, as the CnEVPost article is being updated.

XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its vehicle delivery results for March and the first quarter 2023.

In March 2023, XPENG delivered 7,002 Smart EVs, representing a 17% increase over the prior month. Total deliveries for the first quarter of 2023 reached 18,230 vehicles.

The new sports sedan P7i, launched in March for the Chinese market, has generated favorable market reception and its order backlog is gathering strong momentum. A total of 3,030 P7 series sedans were delivered in March, representing a 32% increase month-over-month.

The launch of the new P7i also boosted the Company's store traffic, pushing test drive volume to recent heights. Delivery of the P7i began nationwide in March.

On March 31, 2023, XPENG began the rollout of the first phase of XNGP (NGP: Navigation Guided Pilot) to XPENG G9 Max and P7i Max customers in Guangzhou, Shenzhen and Shanghai, and to XPENG P5 P version customers in Shanghai.

XNGP is China's leading full scenario ADAS platform available in mass-produced models. The Company is accelerating the implementation of XNGP to multiple models across multiple cities in China.

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NIO delivers 10,378 vehicles in Mar, down 14.6% from Feb

delivered 31,041 vehicles in the first quarter, slightly above the lower end of its previous guidance range of 31,000 to 33,000 vehicles.  |  NIO US | NIO HK | NIO SG

NIO (NYSE: NIO) delivered fewer vehicles in March than in February, with the first quarter figure barely above the lower end of the previous guidance range.

NIO delivered 10,378 vehicles in March, up 3.94 percent from 9,985 a year ago but down 14.6 percent from 12,157 in February, according to figures it announced today.

That delivery volume included 3,203 SUVs, and 7,175 sedans, the company said, without providing a breakdown of the different models.

NIO delivered 31,041 vehicles in the first quarter, slightly above the lower end of its previous guidance range of 31,000 to 33,000 vehicles.

The deliveries were up 20.46 percent from 25,768 units in the same period last year, though down 22.5 percent from 40,052 in the fourth quarter.

NIO's guidance for first-quarter revenue was RMB 10.93 billion to RMB 11.54 billion when it announced its fourth-quarter earnings results on March 1.

As of March 31, cumulative deliveries of NIO vehicles reached 320,597 units.

Beginning March 28, NIO has rolled out the deployment of its third generation of swap stations in China, each with a service capacity of up to 408 swaps per day, the company said.

As of March 31, NIO had deployed 1,339 battery swap stations and 1,285 charging stations, including 6,467 chargers, worldwide. It also has 1,154 destination charging stations worldwide, including 7,993 chargers.

NIO will accelerate the expansion of its battery swap network and plans to install 1,000 battery swap stations in 2023, it said, repeating a previous goal.

NIO has been gradually releasing NOP+ Beta to NIO Technology 2.0 (NT 2.0) based vehicles. Since its debut on December 27, 2022, more than 30,000 users have activated and participated in the NOP+ Beta, accumulating more than 15 million kilometers, it said today.

Powered by NIO's internally developed full-stack smart driving technology and closed-loop data management, NOP+ Beta has achieved significant improvements in peace of mind, comfort and efficiency, it said.

Going forward, NIO will progressively deliver more features through over-the-air updates to continuously enhance the user's smart driving experience, the company said.

NIO CFO says confident of meeting this year's sales target

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NIO’s 1st phone model to be launched in Q3, says William Li

Li also said that 's price cut comes after it faced stiff competition in China, where it does not have pricing power.

(Image credit: CnEVPost)

's (NYSE: NIO) first phone model will be launched and delivered in the third quarter, William Li, the electric vehicle company's founder, chairman and CEO, said today.

Li mentioned the plan in a media group interview today during a forum on China's electric vehicle industry, according to multiple media reports, without providing further details.

Li confirmed in late March last year that NIO would be getting into phone making, saying the company's NIO customers wanted to see a phone that connected better with NIO cars, which prompted the company to look into the industry.

In an internal presentation at the end of November last year, Li said the decision to make the phone was based on long-term strategic thinking over a 5-10 year horizon.

In addition to mentioning a timeline for the launch of the first NIO phone, Li said in an interview with National Business Daily that Tesla doesn't have pricing power in China.

"Tesla's price cut was an action taken after facing stiff competition in the Chinese market, where it doesn't have pricing power," Li said.

Tesla has pricing power in the US market because it has a 60 to 70 percent share in the new energy vehicle (NEV) market there, Li said, adding that in China's NEV market, Tesla has only a 7 percent share.

With 60,766 retail sales in China in January-February, Tesla ranked second in the Chinese NEV market with a 7.8 percent share, according to data released last month by the China Passenger Car Association (CPCA).

retail sales in January-February were 316,417 units, ranking first in China's NEV market with a 40.8 percent share.

NIO sold 20,663 units in the same period, ranking 8th with a 2.7 percent share.

BYD clearly has pricing power, and interestingly, the man at the helm of the NEV giant also mentioned the topic earlier this week.

BYD has pricing power in the price range of RMB 100,000 ($14,560) to RMB 200,000, but the company wants to keep things steady, its chairman and president Wang Chuanfu said at a March 29 investor conference.

BYD doesn't want to make it hard for others to survive, Wang said.

($1 = RMB 6.8690)

The common feature of NIO, Li Auto, XPeng's mobile apps? Pretty girls!

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NIO begins ET5 deliveries in Europe

ET7 deliveries in Europe began last October, and EL7 deliveries there began at the end of January.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO App)

NIO (NYSE: NIO) began ET5 deliveries in Europe on March 31, the day before it opened its second NIO House in Germany.

The company saw the first deliveries of the electric sedan in Germany, Sweden and the Netherlands, according to the information posted on the Chinese and European versions of the NIO App.

NIO co-founder and president Qin Lihong was in Germany to witness the first ET5 deliveries there.

No information has been released about ET5 delivery figures in Europe. The company is expected to announce its deliveries of all vehicles in March later today.

NIO launched the ET7, ET5 and the EL7, known in China as the ES7, in Europe last October. ET7 deliveries began in Europe last October, and EL7 deliveries began at the end of January.

NIO initially only allowed European consumers to lease vehicles through NIO Subscription, with purchase options available starting in late November.

These products are made available for order gradually in Norway, Germany, the Netherlands, Denmark and Sweden through the NIO Subscription, lease program and direct sales to customers, NIO said on November 1 last year while announcing delivery figures for October.

The announced delivery volume represents vehicle deliveries through direct sales to users as well as to the leasing program partner in Europe in accordance with the revenue recognition policy of the company's vehicle sales, NIO said at the time.

The vehicles under NIO Subscription in Europe are recognized as assets on the company's balance sheet, but are not counted in the announced deliveries, according to the company.

The day before deliveries of ET5s began in Europe, NIO opened a new NIO House in Frankfurt, its second in Germany.

NIO opens new NIO House in Frankfurt, its 2nd in Germany

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Li Auto delivers 20,823 vehicles in Mar, up 25% from Feb

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delivered 20,823 vehicles in March, the second time after last December that it exceeded 20,000, figures released today show.

This represents a 25 percent increase over February's 16,620 vehicles and an 88.72 percent increase over the 11,034 vehicles delivered in the same month last year.

The deliveries are the second highest for a single month since Li Auto's inception, after the previous record high of 21,233 vehicles in December last year.

Li Auto delivered 52,584 vehicles in the first quarter, up 65.8 percent year-over-year and up 13.53 percent from the fourth quarter last year.

The company provided guidance of 52,000 to 55,000 vehicles delivered and revenue guidance of RMB 17.45 billion to RMB 18.45 billion for the first quarter when it announced its fourth quarter earnings on Feb. 27.

As of March 31, 2023, the cumulative deliveries of Ideal Vehicles were 309,918 vehicles.

The following is a press release from Li Auto and the CnEVPost article is being updated.

Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today announced that the Company delivered 20,823 vehicles in March 2023, surpassing the 20,000 monthly delivery mark again and representing an increase of 88.7% year over year.

This took the Company's first quarter deliveries to 52,584, up 65.8% year over year. The cumulative deliveries of Li Auto vehicles reached 309,918 as of the end of March.

“We have commenced deliveries of Li L7, our five-seat flagship family SUV, and are pleased to hear from its first users that their satisfaction with the vehicle has exceeded their expectation. As of the end of March, we delivered over 300,000 vehicles cumulatively, the fastest among China's premium NEV manufacturers to achieve this milestone,” commented Xiang Li, chairman and chief executive officer of Li Auto.

“We are also very excited to see that Li Auto has captured nearly 20% market share in the RMB300,000 to RMB500,000 SUV market in China, and become a brand of choice among premium family SUVs, demonstrating our product strengths and users' widespread recognition. Finally, we will begin to deliver Li L7 Air and Li L8 Air in April.”

As of March 31, 2023, the Company had 299 retail stores in 123 cities, as well as 318 servicing centers and Li Auto-authorized body and paint shops operating in 223 cities.

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BYD starts warming up for mini car Seagull

Previous reports suggested that the Seagull would be offered in both sodium-ion and lithium-ion battery-equipped versions, but this was not confirmed by BYD.  |  BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) is starting to warm up for a mini electric vehicle (EV) that is expected to become another major player in the segment.

BYD shared images of the new model, called the Seagull, on Weibo today, showing off details of its exterior.

The NEV (NEV) giant did not provide any information about the Seagull, although the model has appeared on a regulatory list in January and key specifications are known.

The BYD Seagull has a length, width and height of 3,780 mm, 1,715 mm and 1,540 mm, respectively, and a wheelbase of 2,500 mm.

As a comparison, the Dolphin – BYD's smallest model currently on sale -- has a length, width and height of 4,125 mm, 1,770 mm and 1,570 mm, respectively, and a wheelbase of 2,700 mm.

SAIC-GM-Wuling's current hot-selling Hongguang Mini EV has a length, width and height of 2,920 mm, 1,493 mm and 1,621 mm, respectively, and a wheelbase of 1,940 mm.

On March 28, Wuling officially launched the new EV model Binguo in China with a length, width and height of 3,950 mm, 1,708, mm and 1,580 mm, respectively, and a wheelbase of 2,560 mm.

BYD Seagull is equipped with a single motor with a maximum power of 55 kW and a top speed of 130 km per hour.

The model is available in 30 kWh and 38 kWh battery pack versions, with a CLTC range of 305 km and 405 km.

Last November 22, LatePost reported that BYD plans to mass produce sodium-ion batteries in the second quarter of 2023, and they will be featured in the Qin EV, Dolphin and new model Seagull.

The launch of the Seagull means BYD will increase its efforts in the sub-RMB 100,000 electric vehicle market, when competition in the segment becomes more intense, the report noted.

On November 30 last year, local automotive media Yiche reported that the Seagull may be the first BYD model to be equipped with sodium-ion batteries, with the model's launch expected in the second quarter of 2023.

The BYD Seagull will be offered with both sodium-ion and lithium-ion battery versions, with the former expected to cost as little as 60,000 yuan ($8,730) and the latter expected to cost 80,000 yuan, the report said.

The BYD Seagull equipped with sodium-ion batteries will have a range of 300 kilometers, while the lithium-ion version will have a range of 400 kilometers, according to the report.

It is worth noting that these reports have never been confirmed by BYD.

Earlier this month, images circulating on the Chinese Internet showed that the BYD Seagull would start at RMB 65,800 and would be launched on April 18.

BYD later called this false information and said that the estimated price range for the Seagull is RMB 80,000 to RMB 100,000.

($1 = RMB 6.8757)

BYD may launch new model with sodium-ion batteries in Q2 2023, report says

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XPeng sees new milestone in autonomous driving, rolls out Tesla FSD-like assisted driving capability to 2 flagship models

's XNGP system will enable full-scenario ADAS from start to stop when the full rollout is completed in 2024, it said.  |  XPeng US | XPeng HK

(Image credit: XPeng)

XPeng (NYSE: XPEV) is making its FSD (Full )-like Advanced Driver Assistance System (ADAS) available for two flagship models, marking significant progress in building its assisted driving capabilities.

The electric vehicle maker will begin pushing out a new OTA update, Xmart OS 4.2.0, today, opening up the first phase capabilities of XNGP, XPeng's new generation of intelligent driving systems, to the XPeng G9 and P7i.

XPeng concluded its six-day Mission X 2023 XNGP challenge test drive today with an XNGP technology sharing session in Shanghai, where the plan was announced by Wu Xinzhou, vice president and head of the autonomous driving center at XPeng.

XNGP is XPeng's new generation intelligent driving system and is the ultimate product form of assisted driving before achieving full self-driving, the company said.

In its full form, the XNGP system will not rely on high-precision maps and will enable an assisted driving experience from the starting parking space to the end parking space.

XPeng has been testing the capability on the P5 sedan, which comes with a feature called City NGP (City Navigation Guided Pilot). The function is already available for the P5 in Guangzhou and Shenzhen.

XNGP has achieved the first phase of capability, gaining City NGP capability for the G9 Max and P7i Max in Shanghai, Shenzhen and Guangzhou, three cities with high precision map coverage, according to XPeng.

The second phase 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.

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.

In other cities without high-precision map coverage, XNGP also significantly improves assisted driving capabilities, according to the company.

With City NGP available, vehicles can achieve navigation-assisted driving from point A to point B within the city in areas with high-precision map coverage in Guangzhou, Shenzhen and Shanghai.

This includes vehicles autonomously completing cruise following, overtaking, and bypassing stationary vehicles or objects, as well as enabling stoplight recognition, autonomous lane changes, and avoidance of other traffic participants.

In addition to the G9 Max and P7i Max models equipped with XNGP, City NGP will also be available for XPeng P5 in Shanghai.

In areas without high-precision map coverage, XPeng aims to give vehicles the ability to make left and right turns in most major cities later this year, bringing the user experience in those areas closer to City NGP, the company said.

Notably, in addition to City NGP, XPeng is also building a next-generation Highway NGP, Wu said at today's event.

The new Highway NGP is based on XNGP's next-generation technology architecture, which offers significant improvements in security, usability, comfort, access efficiency, and interaction methods, according to Wu.

XPeng's development of the new Highway NGP is progressing as expected and is set to be available to users with the XNGP system in the next major OTA update, Wu said.

Players in the assisted driving space are currently building products that largely rely on high-precision maps for navigation-assisted driving, although many of them aim to eventually move away from them.

XPeng has built XNet, a deep visual neural network that does not rely on high precision maps and relies only on pure visual perception, the first and only mass-produced BEV perception system in China, it said.

XNet is capable of fusing data collected by multiple cameras to output 4D information about dynamic targets and 3D information about static targets, according to the company.

In the future, drivers will not need to be restricted by the area of high-precision maps and will be able to enjoy high-level assisted driving experience in more cities and scenarios faster, XPeng said.

XPeng is one of the few players to mention that it will move away from reliance on high-precision maps.

Earlier this month, DeepRoute, a local self-driving company backed by Alibaba, unveiled its new Driver 3.0 solution, which it said is a solution that does not require high-precision maps and breaks down the limitations imposed by geo-fencing.

In addition to bringing better assisted driving capabilities, XPeng's latest OTA update brings 27 new features, 52 experience optimizations and more than 40 basic experience enhancements, according to the company.

XPeng revs up for comeback after ending 2022 in the slow lane

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NIO aims for swap stations to serve partly as showrooms in underdeveloped cities

Up to 70 percent of 's owners are in China's tier 1 and tier 2 cities, and the company wants to leverage battery swap stations to reach out to less-developed tier 3 and tier 4 cities.

(Image credit: CnEVPost)

NIO (NYSE: NIO) announced aggressive new battery swap station construction plans late last month. Now, one of the company's co-founders has revealed more about the thinking behind it.

Up to 70 percent of NIO owners are in China's first- and second-tier cities, and for the less-developed third- and fourth-tier cities, the company wants to reach out with battery swap stations rather than showrooms that include NIO Houses and NIO Spaces, said its co-founder and president Qin Lihong.

Qin mentioned these in an interview with local media 36kr, saying, NIO had opened stores in third and fourth-tier cities, but found the results to be mediocre, according to the text of the interview released today.

That's because even if NIO opened stores in those cities, it still took some time for the people there to accept new things, so the company has now adjusted its strategy, Qin said.

Battery swap stations in tier 3 and tier 4 cities can replace stores, Qin said, adding that there is some market space in those cities, but the traffic is not steady, so stores are not needed.

But with battery swap stations, people will be able to see these facilities every day, he said.

In addition, some cities may not contribute many sales, but are travel destinations for residents of big cities, such as Chongming in Shanghai, he said.

NIO's plan, announced at NIO Day late last year, was to add 400 battery swap stations in 2023.

On February 21, that plan was revised upward to 1,000, and NIO founder, chairman and CEO William Li said at the time that the company would also increase its efforts to build the facility in third- and fourth-tier cities and counties that have certain user base and do not yet have battery swap stations.

At an internal NIO meeting late last year, several executives were asked to vote on the business that would best drive sales in 2023, and battery swap stations received the most support, according to the 36kr report today.

The addition of 1,000 battery swap stations this year represents more of a commitment for NIO, meaning the company will build as many of the facilities as it can, according to Qin.

In the interview, Qin also refuted claims that NIO doesn't care about costs, saying the company is very clear about its numbers.

In addition to the normal advertising, public relations and maintenance costs, there are several special metrics in NIO's marketing costs, including the average cost of user development and the average cost of user service, he said.

NIO's average development cost per user is the cost of everything about selling cars, which the company aims to optimize year by year. But such costs do not have a particularly large scale effect, such as advertising costs, which are not cheaper the higher the investment, he said.

NIO's average cost of user service, including car repair, maintenance, charging, battery swap, they are decreasing year by year, Qin said.

Qin did not disclose specific numbers but said NIO's average cost of user service this year could be a quarter of what it was in 2018.

NIO CFO says confident of meeting this year's sales target

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Tesla CEO Elon Musk planning visit to China, report says

Elon Musk last visited China in January 2020, when he showed off a dance during a delivery ceremony for 's first China-made Model 3 vehicles.  |  TSLA.US

(A screenshot from a file video showing Tesla CEO Elon Musk gave a speech.)

Tesla CEO Elon Musk is planning a visit to China as early as April and is seeking a meeting with Chinese Premier Li Qiang, Reuters said in a report today, citing two people familiar with the matter.

Musk's visit will mark his first to China since the Covid-19 pandemic, the report noted.

The Tesla CEO's last visit to China was in January 2020, when he showed off a dance during the delivery of Tesla's first China-made Model 3 vehicles.

China is Tesla's second-largest market after the United States, and its Shanghai plant is the electric vehicle maker's largest production center, producing the Model 3 sedan as well as the Model Y crossover.

For the full year of 2022, the Chinese market contributed $18.1 billion in revenue to Tesla, or 22 percent of its $81.5 billion in total revenue, according to its 10-K filing with the SEC on January 31.

The US market contributed $40.6 billion, or 49.8 percent, to Tesla's revenue in 2022.

For the full year 2022, Tesla delivered 1,313,851 vehicles worldwide, up 40.38 percent from 935,950 in 2021.

The electric vehicle maker delivered 439,770 vehicles in China in 2022, contributing 33 percent of the year's deliveries, data monitored by CnEVPost show.

In January and February, Tesla delivered 26,843 vehicles and 33,923 vehicles in China, respectively, data from the China Passenger Car Association (CPCA) show.

Tesla's Shanghai plant exported 39,208 and 40,479 vehicles in January and February, respectively.

Tesla seeks to build new battery plant with CATL in US, report says

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