PCAuto team disassembled BYD Yuan Plus (Atto 3) into pieces.
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Tagged: eV
NIO reaches 20 million battery swap service milestone
NIO's battery swap stations now provide over 45,000 services per day. | NIO US | NIO HK | NIO SG
(Image credit: NIO)
NIO (NYSE: NIO) today saw its cumulative battery swap service reach 20 million, with an average of 45,000 services provided daily.
The electric vehicle (EV) maker announced the milestone today on its mobile app, just 273 days, or nine months after it saw its 10 millionth battery swap service on July 4 of last year.
It took the company 1,506 days, or more than four years, to see its first 10 million battery swap services provided.
On February 5, more than 60 percent of the power NIO provides to owners was provided through battery swap stations, and the facility has become a favorite way for NIO customers to replenish their vehicles, it said.
Currently, NIO's battery swap stations provide an average of more than 45,000 services a day, which equates to an average of one NIO vehicle receiving a fully charged battery from these stations every 1.9 seconds.
The 20 million battery swap services can support more than 5,106 million kilometers of driving and reduce carbon emissions by about 550,286 tons, the company said.
NIO's battery swap stations not only provide vehicles with fully charged batteries but also allow owners to easily upgrade their battery packs.
To date, NIO has provided 63,136 battery upgrades to customers, allowing them to continue to enjoy the benefits of battery technology advancements, the company said.
As of today, NIO has 1,327 battery swap stations and 2,442 charging stations in China, according to data monitored by CnEVPost.
The company's goal is to add 1,000 battery swap stations this year, bringing the facility to 2,300 in China by the end of 2023.
The aggressive infrastructure goal is one of the ways to boost sales, and the company's co-founder and president, Qin Lihong, said in a recent interview with local media that the company hopes swap stations will serve partly as showrooms in less developed cities.
On April 1, William Li, founder, chairman and CEO of NIO, reiterated that the company's of battery swap station network is open to other brands and compared the service to cloud services.
NIO's battery swap stations have a good degree of adaptability and the time has come to offer their output to the outside, Li said.
NIO's battery swap network open to other brands, just like cloud service, says William Li
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BYD chairman calls on China to extend NEV tax exemption until 2025
The world economy is currently in a difficult period of complexity and change, and dealing with risks and challenges requires firm confidence and stable expectations, Wang said. | BYDDY.US | BYD HK
(Image credit: CnEVPost)
China's purchase tax exemption for new energy vehicles (NEVs) expired at the end of last year and has been extended until the end of this year. Now, calls are starting to emerge for the policy to be renewed.
Wang Chuanfu, chairman and president of BYD (OTCMKTS: BYDDY), suggested in an April 1 speech at the China EV 100 Forum that China should extend the NEV purchase tax exemption to 2025, hoping the move would be fast-tracked to stabilize expectations, according to a video replay seen by CnEVPost.
Before 2023, China's policies to support the NEV industry include purchase subsidies as well as exemptions from purchase taxes.
NEV purchase subsidies have been reduced each year over the past several years on a set schedule and were completely withdrawn when they expire at the end of 2022.
The NEV purchase tax exemption originally expired at the end of 2017, but was renewed until the end of 2020 before it expired, and in March 2020, China renewed the policy until the end of 2022. Last year, the policy was renewed again until the end of 2023.
The world economy is currently in a difficult period of complexity and change, and dealing with risks and challenges requires firm confidence and stable expectations, Wang said, adding that many overseas countries are increasing their fiscal support for NEVs.
China's purchase subsidies for NEVs were withdrawn at the end of last year, and the exemption of NEV purchase tax has been clarified to continue until the end of this year, Wang noted.
Considering the long development cycle of NEVs, from product development and design to cost management, long-term arrangements need to be made, so he hopes the NEV purchase tax exemption policy will be extended, according to Wang's speech.
In addition to Wang, Meng Xia, head of sales for Volkswagen China, also suggested at the China EV 100 Forum event that China should extend the purchase tax exemption for NEVs beyond 2023 and develop a relatively stable policy framework.
It is worth noting that with the rapid growth of NEV penetration, the continued extension of the purchase tax exemption for such vehicles would mean a bigger loss in government tax revenue.
For the full year 2022, retail sales of new energy passenger vehicles in China were 5.67 million units, up 90 percent year-on-year and accounting for 27.6 percent of all new passenger vehicle sales, according to data released by the China Passenger Car Association (CPCA) in January.
In February, retail sales of new energy passenger vehicles in China were 439,000 units, up 61 percent year-on-year, contributing 31.6 percent of all passenger vehicle sales.
In the future, as the ownership of conventional internal combustion engine vehicles shrinks dramatically, the shortfall in national tax revenue will need to be filled by a tax system for electric vehicles, the CPCA said in a report released on August 9, 2022.
Taxing electric vehicles at the point of purchase and use and even at the point of retirement is a definite trend, the CPCA said at the time.
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Lithium carbonate prices likely to fall below RMB 100,000, says chairman of battery maker Farasis Energy
Lithium prices continue to fall in China today, with the average price of industrial-grade lithium carbonate falling below RMB 200,000 per ton for the first time in the current down cycle.
A Chinese battery maker's chairman believes lithium carbonate prices could even fall below RMB 100,000 ($14,530), with the battery raw material not seeing a single day of gains this year.
In 2022, the supply and demand for lithium carbonate and lithium hydroxide were actually in balance, and there was a lot of hype behind the price surge, Farasis Energy's chairman Wang Yu said in an interview during the China EV 100 Forum yesterday, according to Yicai's report.
Based on this situation this year, the price of lithium carbonate is expected to drop rapidly, Wang said.
Lithium carbonate prices have already dropped to RMB 250,000 per ton and are expected to drop further, to below RMB 100,000 is very likely, he said.
Lithium carbonate prices in China continued to fall today, with the average price of industrial-grade lithium carbonate falling below 200,000 yuan per ton for the first time in the current down cycle.
Battery-grade lithium carbonate fell RMB 12,500 per ton today to an average price of RMB 232,500 per ton, while industrial-grade lithium carbonate fell RMB 10,000 per ton to an average price of RMB 195,000 per ton, according to figures from Mysteel monitored by CnEVPost.
Lithium carbonate resources are not in short supply, and the raw material is not very difficult to produce now, and the industry will return to its normal operations, Wang said.
The actual cost of lithium carbonate per ton is around RMB 30,000, and there is no reason for it to go up to RMB 500,000 or 600,000, he said.
The automotive and battery industries contributed at least RMB 100 billion in profits to the lithium industry last year due to rising raw material prices, Wang said.
At one point in late November last year, battery-grade lithium carbonate was quoted at RMB 590,000 per ton in China, about 14 times the average price of RMB 41,000 per ton in June 2020.
Since then, lithium carbonate quotes have continued their downward spiral, and have not seen a single day of gains this year.
The price of lithium carbonate depends on demand and supply, as well as the price sensitivity of car companies, Wang said.
In the past, new energy vehicle (NEV) sales have soared, and car companies have lost a lot of money to complete their performance, he said, adding that for many automakers, they may cut production if raw material prices do not meet expectations this year.
In addition, the mass production of sodium-ion batteries has already caused an impact on the lithium carbonate and lithium hydroxide industries, Wang said.
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), which made one of its models the first to carry sodium-ion batteries.
Farasis Energy's sodium-ion batteries will also enter mass production this year and will be used in the short term for budget models with a range of up to 300 kilometers and in the medium term for models with a range of up to 500 kilometers, Wang said.
Farasis Energy installed 0.19 GWh of power batteries in China in February, ranking No. 9 with a 0.88 percent share, according to data released last month by the China Automotive Battery Innovation Alliance (CABIA).
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Analysts explain how falling lithium carbonate prices affect EV costs
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Review: 2023 Hyundai Ioniq 6 sedan marries form and function
By the numbers, the 2023 Hyundai Ioniq 6 electric sedan outpaces the Tesla Model 3, improves on the related Hyundai Ioniq 5, and matches the Lucid Air as the most efficient electric car on sale in the U.S. In the data age where we are ruled by algorithms, the favorable numeric data of the Ioniq 6 is impressive. Yet Hyundai’s latest sedan is... Review: 2023 Hyundai Ioniq 6 sedan marries form and function
By the numbers, the 2023 Hyundai Ioniq 6 electric sedan outpaces the Tesla Model 3, improves on the related Hyundai Ioniq 5, and matches the Lucid Air as the most efficient electric car on sale in the U.S. In the data age where we are ruled by algorithms, the favorable numeric data of the Ioniq 6 is impressive. Yet Hyundai’s latest sedan is... XPeng starts warming up for G6, releases official ‘spy shot’
Update: Added more pictures about G6 shared by XPeng.
XPeng management previously said that the G6 will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter, with a price range of RMB 200,000 - 300,000. | XPeng US | XPeng HK
XPeng (NYSE: XPEV) is starting to warm up for the G6, with the new model set to make its official debut at the Shanghai auto show in half a month.
The electric vehicle (EV) maker shared a "spy shot" of the G6 on April 3, showing the SUV's exterior but not revealing any other information.
On April 4, XPeng shared three additional images of the G6.
On March 17, XPeng management said during the company's fourth-quarter earnings call that the G6, a new energy SUV in the price range of 200,000 yuan ($29,020) to 300,000 yuan, will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter.
The upcoming biennial Shanghai auto show will be held from April 18 - 27, with April 18 - 19 being the media days, April 20 - 21 being the professional visitors' days, and the general public being admitted from April 22 - 27.
XPeng's monthly sales target for the G6 is 2-3 times that of the P7, He Xiaopeng, the company's chairman and CEO, said on the call.
The G6's range will be significantly improved and will exceed expectations, and the interior space will be much larger than similar offerings from competitors, he said.
Earlier this month, the XPeng G6 appeared on a regulatory filing list in China, where its core specifications were disclosed.
The XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, according to those filing pages.
The G6 will compete with Tesla's (NASDAQ: TSLA) Model Y, XPeng management previously mentioned. The Tesla crossover 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 XPeng G6 will be available in single-motor and dual-motor versions, the former with a 218 kW peak power motor and the latter with an additional motor with 140 kW peak power.
The upcoming G6 will be the swing factor and the model will need to be successful to make XPeng truly relevant in the market again, said Deutsche Bank analyst Edison Yu's team in a research note sent to investors on March 22.
XPeng's monthly sales target for the G6 is two to three times that of the P7, meaning at least 5,000 units per month for the G6 based on a trailing six-month average, Yu's team noted.
XPeng may price the G6 similarly to the Tesla Model Y, hoping to attract consumers with its sleeker design and updated interior, the team said.
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Tesla delivers record 422,875 vehicles globally in Q1
Tesla's first-quarter deliveries were higher than BYD's 264,647 passenger BEVs, but lower than the latter's 552,076 NEVs, including PHEVs.
Tesla saw record electric vehicle (EV) deliveries in the first quarter, as price cuts reinvigorated demand.
The US EV maker delivered 422,875 units worldwide in the first quarter, up 36.39 percent from 310,048 units a year earlier and up 4.34 percent from 405,278 in the fourth quarter, according to its announcement on April 2.
The deliveries exceeded Wall Street analysts' expectations of 421,200 units, with Tesla's cheaper Model 3 with Model Y deliveries exceeding expectations.
Tesla delivered 412,180 Model 3 and Model Y units worldwide in the first quarter, above market expectations of 408,500. A total of 10,695 Model S and Model X units were delivered, below expectations of 16,700.
Tesla produced 440,808 vehicles in the first quarter, including 421,371 Model 3 and Model Y, and 19,437 Model S and Model X.
"We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC," Tesla wrote in an announcement.
The company will announce its first-quarter financial results after the market closes on Wednesday, April 19, and its management will hold a live webcast question-and-answer session at 4:30 pm US Central Time that day.
Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after its move in China on January 6.
In China, Tesla has a factory in Shanghai that makes the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.
Tesla does not publish its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.
Tesla's deliveries in China in January and February were 26,843 and 33,923 units, respectively, and its Shanghai plant exported 39,208 and 40,479 units in the two months, according to the CPCA. March figures are expected to be available in the next few days.
BYD (OTCMKTS: BYDDY) and Tesla are the two biggest players in China's new energy vehicle (NEV) market, with the former producing plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs) and the latter producing only BEVs.
Tesla delivered more BEVs than BYD in the first quarter, but the latter's combined sales of PHEVs and BEVs were larger.
In the first quarter, BYD's NEV sales, including PHEVs and BEVs, were 552,076 units, up 92.81 percent year-on-year but down 19.22 percent from the fourth quarter of last year, according to data released yesterday.
BYD's passenger BEVs sold 264,647 units in the first quarter, up 84.78 percent year-on-year but down 19.56 percent from the fourth quarter.
BYD's passenger PHEVs sold 283,270 units in the first quarter, up 100.17 percent year-on-year but down 19.76 percent from the fourth quarter.
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BYD sold 552,076 vehicles in Q1 2023, up 90% from Q1 2022
48% of the BYD sales in 2023 Q1 are pure EVs, 52% of the sales PHEVs. BYD exported 38,723 vehicles overseas in 2023 Q1.
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BYD Mar sales breakdown: Qin 40,850, Song 40,510
The Qin family of models sold a record 40,850 units in March, surpassing the Song family's 40,510 units to become the best-selling BYD model for the month.
BYD today announced its new energy vehicle (NEV) sales for March and later provided a breakdown of the figures for different models.
The Qin family of models sold a record 40,850 units in March, making it the highest-selling BYD model for the month and contributing 19.8 percent of the NEV maker's passenger NEV sales in March.
The sales were up 64.74 percent from 24,797 units in the same month last year and up 33.76 percent from 30,540 units in February, according to data monitored by CnEVPost.
In the first quarter, the Qin family of models sold 85,575 units, up 12.83 percent from the same period last year.
On February 10, BYD let a facelift of the plug-in hybrid sedan Qin Plus DM-i go on sale, offering five versions with a starting price range of RMB 99,800 ($14,530) to RMB 145,800.
This is the first time BYD has made a model with its DM-i powertrain start at less than RMB 100,000.
The Song family -- the top-selling BYD model in many previous months -- sold 40,510 units in March, second only to the Qin family model.
Sales of the family models in March were up 51.56 percent from 26,729 units in the same month last year but down 22.69 percent from 52,400 units in February.
This is the lowest sales for the Song family of models since July 2022. The family sold a record 70,079 units in December of last year.
In the first quarter, Song family models sold 142,775 units, up 93.69 percent from the previous year.
The Yuan family sold a record 40,400 units in March, making it the third highest-selling BYD model for the month.
This represents a 213.64 percent increase from 12,881 units in the same period and a 20.20 percent increase from 33,612 units in February.
The Yuan family of models sold 97,243 units in the first quarter, up 219.56 percent from the same period last year.
BYD Dolphin also sold a record 30,077 units in March, up 186.42 percent year-on-year and 31.56 percent from February.
In the first quarter, BYD Dolphin sold 70,567 units, up 137.86 percent year-on-year.
The BYD Han family of models sold 13,550 units in March, up 9.64 percent year-on-year and up 9.77 percent from February.
The f Han family sold 38,109 units in the first quarter, up 10.69 percent year-on-year.
The BYD Tang family of models sold 12,133 units in March, virtually unchanged from 12,029 units in February and up 26.06 percent from a year ago.
Tang family models sold 33,052 units in the first quarter, up 13.54 percent from a year ago.
The BYD Frigate 07 sold 8,150 units in March, up 26.77 percent from February. The model went on sale on December 9, 2022.
The BYD Seal sold 6,000 units in March, down 22.62 percent from February. The model went on sale on July 29, 2022.
BYD Destroyer 05 -- which went on sale on March 17, 2022 -- sold 3,911 units in March, up 164.97 percent year-on-year but down 21.31 percent from February.
BYD announced earlier today that it sold 207,080 NEVs in March, including 206,089 passenger vehicles, and 991 commercial vehicles.
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