Tagged: eV

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.

NIO sues vlogger for $290,000 for spreading false information-CnEVPost

(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 sues vlogger for $290,000 for spreading false information-CnEVPost

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

NIO EC7 wait time becomes longer, ET7 shorter-CnEVPost

(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

DateModelPrevChangeLatest
04/28/23ET7 (NT 2.0)About 4 weeks↓About 3 weeks
04/28/23EC7 (NT 2.0)About 4 weeks↑About 5 weeks
04/25/23ES7 (NT 2.0)3-5 weeks↓About 3 weeks
04/21/23ET7 (NT 2.0)NANAAbout 4 weeks
04/21/23EC7 (NT 2.0)Mid MayNAAbout 4 weeks
04/17/23ES7 (NT 2.0)About 2 weeks↑3-5 weeks
04/14/23ES6 (NT 1.0)About 2 weeksNAStop showing
04/10/23ET5 (NT 2.0)About 3 weeks↓About 2 weeks
04/10/23ES7 (NT 2.0)About 3 weeks↓About 2 weeks
03/28/23ET5 (NT 2.0)3-4 weeks↓About 3 weeks
03/28/23ES7 (NT 2.0)4-6 weeks↓About 3 weeks
03/14/23ET5 (NT 2.0)2-3 weeks↑3-4 weeks
03/14/23ES7 (NT 2.0)About 3 weeks↑4-6 weeks
03/13/23ET7 (NT 2.0)About 3 weeksNAStop showing
02/14/23ES7 (NT 2.0)3-4 weeks↓About 3 weeks
02/14/23ET7 (NT 2.0)3-4 weeks↓About 3 weeks
02/14/23ET5 (NT 2.0)About 3 weeks↓2-3 weeks
02/6/23ET5 (NT 2.0)3-4 weeks↓About 3 weeks
01/28/23ES7 (NT 2.0)2-3 weeks↑3-4 weeks
01/28/23ET7 (NT 2.0)2-3 weeks↑3-4 weeks
01/28/23ET5 (NT 2.0)7-9 weeks↓3-4 weeks
01/11/23ET5 (NT 2.0)8-10 weeks↓7-9 weeks
01/5/23ET5 (NT 2.0)9-11 weeks↓8-10 weeks
12/29/22ET5 (NT 2.0)10-12 weeks↓9-11 weeks
12/22/22ET5 (NT 2.0)12-14 weeks↓10-12 weeks
12/20/22ES7 (NT 2.0)4-6 weeks↓2-3 weeks
12/13/22ET5 (NT 2.0)13-15 weeks↓12-14 weeks
12/13/22ET7 (NT 2.0)About 2 weeks↑2-3 weeks
12/13/22EC6 (NT 1.0)About 2 weeksNAStop showing
12/2/22ET5 (NT 2.0)21-23 weeks↓13-15 weeks
11/25/22ES7 (NT 2.0)7-9 weeks↓4-6 weeks
11/25/22ET7 (NT 2.0)3-5 weeks↓About 2 weeks
11/23/22ES8 (NT 1.0)About 2 weeksNAStop showing
11/16/22ET7 (NT 2.0)4-6 weeks↓3-5 weeks
11/10/22ES8 (NT 1.0)2-3 weeks↓About 2 weeks
11/10/22ES6 (NT 1.0)2-3 weeks↓About 2 weeks
11/10/22EC6 (NT 1.0)2-3 weeks↓About 2 weeks
11/3/22ES7 (NT 2.0)11-13 weeks↓7-9 weeks
11/3/22ET7 (NT 2.0)6-8 weeks↓4-6 weeks
11/3/22ES8 (NT 1.0)2-4 weeks↓2-3 weeks
11/3/22ES6 (NT 1.0)2-4 weeks↓2-3 weeks
11/3/22EC6 (NT 1.0)2-4 weeks↓2-3 weeks
10/31/22ES7 (NT 2.0)12-14 weeks↓11-13 weeks
10/31/22ES8 (NT 1.0)3-5 weeks↓2-4 weeks
10/31/22ES6 (NT 1.0)3-5 weeks↓2-4 weeks
10/31/22EC6 (NT 1.0)3-5 weeks↓2-4 weeks
10/21/22ES7 (NT 2.0)13-15 weeks↓12-14 weeks
10/21/22ET7 (NT 2.0)11-13 weeks↓6-8 weeks
10/21/22ET5 (NT 2.0)21-23 weeksNAStop showing
10/21/22ES8 (NT 1.0)4-6 weeks↓3-5 weeks
10/21/22ES6 (NT 1.0)4-6 weeks↓3-5 weeks
10/21/22EC6 (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).

China EV battery installations in Mar: CATL overtakes BYD in LFP market for 1st time this year-CnEVPost

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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Volvo EX90 electric SUV already sold out for its first year

2024 Volvo EX90The 2024 Volvo EX90 is still a few months away from the start of deliveries, but the electric SUV is already sold out for its first year of production. Volvo confirmed this in a press release detailing its first-quarter 2023 financial results, although it didn't disclose how many vehicles would be built in the first-year production run, only...

Shanghai auto show ends: Visitors nearly 1 million, NEVs overtake ICEs in new launches

For the first time, NEVs outnumbered traditional fuel vehicles in terms of new launches, organizers of the Shanghai auto show said.

Shanghai auto show ends: Visitors nearly 1 million, NEVs overtake ICEs in new launches-CnEVPost

(Image credit: CnEVPost)

The 10-day Shanghai auto show, the first major auto show since China's Covid re-open, attracted nearly 1 million visitors, with new energy vehicles (NEVs) in the spotlight.

The Shanghai auto show officially closed on April 27, hosting more than 13,000 global media workers and reaching about 906,000 visitors, the show's organizers said in an article today.

The show was held April 18-27 at the National Exhibition and Convention Center in Shanghai, with media days April 18-19, April 20-21 for professional visitors and the general public access on April 22-27.

The Shanghai auto show has a total exhibition area of over 360,000 square meters, with 1,413 vehicles on display in the vehicle section, including 513 NEV show cars, according to the article.

Ninety-three vehicles made their world debut at the show, including 28 from multinational companies. In addition, there were 64 concept cars on display at the event.

A total of 271 NEV models were on display at the event, including 186 from Chinese automakers.

For the first time, NEVs outnumbered traditional fuel vehicles in terms of new launches, the event's organizers said, without providing specific figures.

NEVs occupied key positions on most stands, and the actions of well-known multinational car companies indicate a consensus for a full electrification strategy, the article said.

Shanghai auto show ends: Visitors nearly 1 million, NEVs overtake ICEs in new launches-CnEVPost

(Image credit: CnEVPost)

During the media days of April 18-19, automakers held 151 press conferences.

More than 20 forums, summits, seminars and technical exchange events were held during the Shanghai auto show, providing a platform for the global automotive industry to exchange ideas.

One of the highlights of the Shanghai auto show was the frequent presence of technology executive teams from foreign brands at the booths of Chinese brands, representing the fact that local brands have the ability to talk to the world in the field of NEVs and vehicle intelligence, the article said.

Separately, NIO (NYSE: NIO) had more than 200,000 people visit its booth at the Shanghai auto show, according to figures it released today.

NIO presented six of its latest models based on the NT 2.0 platform at the Shanghai auto show. The company debuted the new ES6 and launched the 2023 ET7 at the event.

Shanghai auto show ends: Visitors nearly 1 million, NEVs overtake ICEs in new launches-CnEVPost

(Image credit: CnEVPost)

Shanghai auto show: EVs take center stage, nearly 40 models equipped with LiDARs

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BYD posts over 400% year-on-year Q1 profit growth

BYD reported revenue of RMB 120.17 billion in the first quarter, up 79.83 percent year-on-year, although it was 23.15 percent lower than in the fourth quarter of last year.

BYD posts over 400% year-on-year Q1 profit growth-CnEVPost

BYD (OTCMKTS: BYDDY) continued to see strong financial performance in the first quarter, as the company ratchets up its leadership position in China's new energy vehicle (NEV) market.

BYD reported revenue of RMB 120.17 billion ($17.34 billion) in the first quarter, up 79.83 percent year-on-year, despite a 23.15 percent decrease from the fourth quarter of last year, according to its financial report released today.

BYD posts over 400% year-on-year Q1 profit growth-CnEVPost

The significant year-on-year increase in revenue was mainly due to increased sales of NEVs, BYD said in the report.

BYD's net profit for the quarter was RMB 4.13 billion, up 410.89 percent year-on-year, although it was 43.5 percent lower than in the fourth quarter of last year.

After excluding non-recurring gains and losses, BYD's net profit in the first quarter was RMB 3.57 billion, up 593.68 percent year-on-year.

It reported basic earnings per share of RMB 1.42 in the first quarter, up 407.14 percent year-on-year.

BYD's costs grew in line with sales growth, with operating costs for the quarter at RMB 98.71 billion, up 68.62 percent year-on-year.

Its selling expenses for the quarter were RMB 4.65 billion, up 234.96 percent year-on-year, and R&D expenses were RMB 6.24 billion, up 164.24 percent year-on-year.

BYD's gross margin was 17.86 percent in the first quarter, up 5.46 percentage points from the same period last year, although it was 1.14 percentage points lower than the fourth quarter.

BYD posts over 400% year-on-year Q1 profit growth-CnEVPost

BYD sold 552,076 NEVs in the first quarter, up 92.81 percent year-on-year, but down 19.22 percent from a record 683,440 units in the fourth quarter of last year.

The company's NEVs include passenger cars as well as commercial vehicles, and they sold 547,917 units and 4,159 units in the first quarter, respectively.

BYD stopped production and sales of vehicles powered entirely by internal combustion engines in March 2022 to focus instead on NEVs, including plug-in hybrids and battery electric vehicles.

The first quarter was typically a slow quarter for sales in the Chinese auto industry, taking into account the Chinese New Year holiday.

In the first quarter of this year, the withdrawal of some previously available support policies, as well as a rare price war in the auto industry, brought additional pressure.

Chinese passenger car sales in the first quarter were 4.27 million units, down 13.15 percent year-on-year and down 24.55 percent from the fourth quarter of last year, according to the China Passenger Car Association (CPCA).

NEVs sold 1.32 million units in the first quarter, up 23.07 percent year-on-year but down 26.62 percent from the fourth quarter.

On February 25, local media reported that BYD's Dynasty series' models had been reduced in prices, with some models reduced by RMB 20,000.

BYD subsequently responded that this was not an official act, but promotional activities by some dealers.

On March 9, as the price war intensified in the Chinese auto industry, BYD began offering discounts of up to RMB 8,800 for the Song Plus and Seal.

($1 = RMB 6.9295)

BYD officially launches Seagull to expand its presence in China's EV market

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