Tagged: eV

BYD applies for dual counter trading on Hong Kong exchange

The dual-currency counter model will provide BYD shareholders and potential investors with a new trading currency option that could further enhance the liquidity of its shares, BYD said.

BYD applies for dual counter trading on Hong Kong exchange-CnEVPost

BYD Company Limited (1211.HK) has applied to the Hong Kong Stock Exchange (HKEX) for a dual-currency counter that would allow investors to trade its shares in RMB in addition to the Hong Kong dollar, according to a stock exchange announcement.

The move is intended to express support for the HKEX's introduction of a dual Hong Kong dollar-RMB counter model and the nationalization of the yuan, the new energy vehicle (NEV) giant said in the announcement today.

The HKEX said in December it would introduce the new dual-counter trading model starting in the first half of 2023.

Other companies listed in Hong Kong, including Baidu, Tencent, JD.com, and have also applied to the HKEX for dual currency counters.

The HKEX said last month that the dual-currency counter was introduced to further promote the internationalization of the yuan.

The dual-currency counter model will provide BYD shareholders and potential investors with a new choice of trading currency, enhancing trading convenience and flexibility while further enhancing the liquidity of its shares, BYD said.

With the launch of the dual-currency counter model, it will be possible for investors to purchase Hong Kong shares directly in RMB.

Previously, for investors participating in the Hong Kong-mainland stock connect mechanism, they had to bear the risk of exchange rate movements of RMB against Hong Kong dollar during their holding of Hong Kong stocks.

Introducing yuan pricing in the stock connect mechanism could reduce some of the exposure to exchange rate fluctuations in Hong Kong stock investments, CICC said in a research note last month.

It is also expected to allow the trading facility to attract more yuan funds, which in turn would boost trading activity and volume, CICC said.

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

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

BYD has officially launched the Seagull with a starting price of just RMB 73,800, after starting pre-sales of the Yangwang U8, which costs over RMB 1 million, last week.

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

(Image credit: CnEVPost)

The price range covered by BYD's product array is seeing an unprecedented expansion, with the official launch of a new model priced as low as RMB 73,800 ($10,660), after the Yangwang U8 started pre-sales for more than RMB 1 million.

The Chinese new energy vehicle (NEV) giant officially launched the micro battery electric vehicle (BEV) model BYD Seagull, the latest addition to its Ocean series, at a launch event today.

The car is available in three versions with starting prices of RMB 73,800, RMB 78,800 and RMB 89,800 respectively.

BYD unveiled the Seagull and started its pre-sales on the first day of the Shanghai auto show on April 18, with the three versions priced at RMB 78,800, RMB 83,800 and RMB 95,800 respectively.

The company's final pricing announced today means that the starting prices for all three versions are RMB 5,000, RMB 5,000 and RMB 6,000 lower than the pre-sale prices.

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

(Image credit: CnEVPost)

The Seagull is an A0-class EV based on BYD's e-Platform 3.0 with a length, width and height of 3,780 mm, 1,715 mm and 1,540 mm, respectively, and a wheelbase of 2,500 mm.

The model is powered by a permanent magnet synchronous motor with a maximum power of 55 kW and peak torque of 135 Nm, accelerating from 0 to 50 km/h in 4.9 seconds.

The vehicle is available in two range versions with blade battery capacities of 30.08 kWh and 38.88 kWh, which provide a CLTC range of 305 km and 405 km, respectively.

The BYD Seagull supports fast charging, taking 30 minutes to charge from 30 percent to 80 percent.

For BYD, the Seagull will likely be a model of strategic importance, especially when compared to the high-end Yangwang models.

Prior to 2020, BYD was targeting mainly the RMB 100,000 to RMB 200,000 NEV market, as there were huge barriers for local Chinese car companies to enter the mid- to high-end market at the time.

With the launch of the BYD Han in the second half of 2020, BYD began to gradually expand its presence in the RMB 200,000 to 300,000 range.

In the fourth quarter of last year, the BYD Han, which primarily targets the RMB 200,000 to 300,000 yuan range, sold more than 30,000 units each month.

As BYD gradually gained a foothold in the mid- to high-end market, the company began to move into the higher price range, announcing the Yangwang brand and the brand's first two models, the U8 off-road SUV and U9 supercar, on January 5.

On April 18, Yangwang started the pre-sales of the U8 at the Shanghai auto show, with a pre-sale price of RMB 1,098,000.

In addition to the Yangwang brand, BYD also has the Denza and the yet-to-be-launched F brand, targeting a market with prices above RMB 300,000.

The importance of the Seagull is that it allows BYD's products to cover a lower price range and thus a broader market than these premium models.

In 2022, the price range of RMB 100,000 to RMB 150,000 accounted for 6.68 million retail sales in China, contributing 33 percent of all passenger car sales, according to data released last month by the China Passenger Car Association (CPCA).

Models in the price range of RMB 50,000 to RMB 100,000 sold 3.84 million units at retail in China last year, ranking second with a 19 percent share, according to the CPCA.

The Seagull, currently BYD's lowest-priced model, is targeting a market that the NEV maker has not previously entered but has extensive space.

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

(Image credit: CnEVPost)

The BYD brand's product array includes the Dynasty and Ocean series, with the former's lowest-priced model being the Qin, which starts at RMB 99,800, and the latter's Dolphin, which starts at RMB 116,800, before the Seagull was launched.

BYD sold 207,080 NEVs in March, including 40,850 units of the Qin family and 30,077 units of the Dolphin, data monitored by CnEVPost showed.

The Seagull's lower prices are expected to meet the demand of younger demographics as well as some families for a second vehicle, helping BYD reach its aggressive sales target this year.

BYD sold 1,868,543 vehicles in 2022, including 1,863,494 NEVs. The company discontinued production and sales of vehicles powered entirely by internal combustion engines in March 2022.

BYD aims to sell at least 3 million vehicles this year and will strive to reach 3.6 million, the company's chairman and president Wang Chuanfu said at an investor conference late last month.

BYD aims to become the No. 1 automaker in China by the end of this year, Wang said at the time.

The Seagull is expected to be another hot seller in the Chinese EV market, judging by its pre-sale performance.

The model received more than 10,000 orders 24 hours after pre-sales began, BYD said on April 19.

($1 = 6.9212 RMB)

BYD aims to sell at least 3 million vehicles this year

BYD Seagull key specs

Launch Price (RMB)73,80078,80089,800
Pre-sale Price78,80083,80095,800
Dimensions3,780×1,715×1,540 mm
Wheelbase2,500 mm
Max Motor Power55 kW
Max Motor Torque135 Nm
0-50 km/h4.9 seconds
CLTC Range305 km305 km405 km
Battery Capacity30.08 kWh30.08 kWh38.88 kWh
30%-80% Charging30 minutes

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Pony.ai starts offering robotaxi service in Guangzhou without safety officer in vehicles

This is the first such permit issued in Guangzhou, where Pony.ai's 17 robotaxis have been approved to provide robotaxi service without safety officers.

Pony.ai starts offering robotaxi service in Guangzhou without safety officer in vehicles-CnEVPost

(Image credit: Pony.ai)

Pony.ai, a Chinese self-driving startup backed by Toyota Motor and NIO Capital, has been granted a permit for robotaxi service without safety officers in the southern Chinese city of Guangzhou, after receiving a similar permit in Beijing last month.

This is the first such permit issued in Guangzhou, where Pony.ai's 17 robotaxis were approved to provide the services, according to a press release today.

Within 803 square kilometers of Guangzhou's Nansha district, passengers will have the opportunity to call a real driverless vehicle via the mobile app PonyPilot+, Pony.ai said.

During the ride, passengers who need remote assistance can communicate in real-time with backstage personnel in the vehicle by voice, the company said.

On March 17, Pony.ai announced that it had received a permit in Beijing to operate a fully unmanned robotaxi service within 60 square kilometers of the Yizhuang Economic Development Zone.

Founded in late 2016, Pony.ai has set up R&D centers in Silicon Valley, Guangzhou, Beijing and Shanghai, and is running robotaxi operations locally.

In late 2019, NIO Capital said it invested in Pony.ai when it announced the completion of more than $200 million in fundraising. In February 2020, Pony.ai announced it had raised $400 million from Toyota.

Pony.ai starts offering robotaxi service in Guangzhou without safety officer in vehicles-CnEVPost

(Image credit: CnEVPost)

Pony.ai launched the robotaxi app PonyPilot in December 2018 and received a permit to operate the robotaxi service for a fee in Beijing in November 2021.

To date, Pony.ai has accumulated 21 million kilometers of autonomous driving, more than 1 million kilometers of fully unmanned testing and nearly 200,000 paid orders, it said today.

Baidu's robotaxi platform Apollo Go gets permit to offer fully driverless rides in Beijing

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Zeekr, chipmaker Onsemi sign SiC power device supply deal

SiC power devices offer higher powertrain efficiency, enabling improved performance, faster charging and longer driving range.

(Image credit: CnEVPost)

Zeekr, 's electric vehicle (EV) brand, announced today that it has signed a long-term supply agreement with US chipmaker Onsemi involving a partnership for silicon carbide (SiC) power devices.

Zeekr will use Onsemi's M3E 1200V EliteSiC MOSFET products to complement its expanding lineup of high-performance all-electric models, according to a press release.

SiC power devices offer higher powertrain efficiency, which enables improved performance, faster charging and longer driving range, according to Zeekr.

"With cutting-edge technologies such as advanced SiC, Zeekr will be able to offer electric vehicles with improved performance and even lower carbon emissions," said Andy An, CEO of the company.

Zeekr, which was officially launched as an independent company in March 2021, saw its 100,000th vehicle delivered yesterday, making it one of the fastest new car makers to reach the milestone in China.

Its first model, the Zeekr 001, was launched on April 15, 2021, and deliveries began in October 2021.

On November 1, 2022, Zeekr's second model, the Zeekr 009 MPV, was launched, and its deliveries began on January 15.

On April 12, Zeekr launched its third model, the Zeekr X, which it hopes will become the benchmark for luxury compact cars.

Zeekr delivered 71,941 vehicles in 2022 and aims to double deliveries to about 140,000 in 2023.

As EV makers build higher-performance models, higher voltage platforms require more advanced power devices.

SiC modules are an upgrade to IGBT (insulated gate bipolar transistor chip) modules, a third-generation power semiconductor with higher efficiency, higher temperature resistance and higher voltage characteristics.

The module will help upgrade the electrical architecture of EVs from 400V to 800V and enable vehicles to charge from 0 to 80 percent in 10 minutes.

EV makers including , BYD, NIO, and are already using SiC chips in their models.

Zeekr releases Europe strategy, 2 models to debut in Sweden and Netherlands in Q4

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NIO sees cumulative user mileage exceed 10 billion km

This equates to a reduction of 1.07 million tons of carbon emissions, as well as saving customers about RMB 7 billion in energy costs.  |  NIO US | NIO HK | NIO SG

NIO sees cumulative user mileage exceed 10 billion km-CnEVPost

(Image credit: NIO)

NIO (NYSE: NIO) saw its cumulative user miles exceed 10 billion kilometers on April 25, marking a new milestone in the company's history.

NIO announced the milestone today on its mobile app, saying its total number of users to date exceeds 320,000.

NIO delivered 10,378 vehicles in March, bringing cumulative deliveries to 320,597 as of March 31, according to data monitored by CnEVPost.

"Reaching this landmark is a proud moment that confirms NIO is a trusted and proven solution for our loyal users. Our compelling range of power solutions, such as our battery swap stations, offers the freedom to travel freely, knowing a robust power solution is never far away," said William Li, founder, chairman, and CEO of NIO.

The company -- all of whose vehicles are zero-emission battery electric vehicles -- said the 10-billion-kilometer mileage represents a reduction of 1.07 million tons of carbon emissions and a savings of about RMB 7 billion ($1 billion) in energy costs for users.

To date, NIO user footprints have covered over 370 cities worldwide. More than 11,000 of them have driven more than 100,000 kilometers, with the longest one reaching nearly 450,000 kilometers.

NIO sees cumulative user mileage exceed 10 billion km-CnEVPost

(Image credit: CnEVPost)

Users have driven more than 821 million kilometers with NIO's assisted driving system, with a cumulative usage time of about 10.76 million hours.

The total mileage of NIO's NOP (Navigate on Pilot) system reached 310 million kilometers, and the total mileage of NOP Plus reached 2,730 kilometers.

As of April 25, NIO has provided more than 21 million battery swap services, and the percentage of power provided by battery swap stations exceeds 60 percent, according to the company.

NIO's battery swap stations provided a peak of 62,356 battery swap services in a single day, equivalent to one NIO vehicle receiving a fully charged battery from these stations every 0.7 seconds, it said.

NIO sees cumulative user mileage exceed 10 billion km-CnEVPost

(Image credit: CnEVPost)

As of April 25, NIO had 1,369 battery swap stations in China, 362 of which are located along highways.

It also has 2,512 charging stations in China, offering 14,903 charging piles, and its charging map has access to 690,000 third-party charging piles.

The company will add 1,000 battery swap stations in China this year, according to its previously announced plans.

In Europe, NIO plans to add up to 70 battery swap stations this year, according to a press release today.

During the upcoming Labor Day holiday, all NIO owners will have unlimited free access to battery swap stations located along highways, it announced yesterday.

This year's Labor Day holiday in China runs from April 29 to May 3. NIO owners will have free access to these battery swap stations from April 28 to May 4, although vehicles used for operational purposes are excluded.

($1 = RMB 6.9239)

NIO launches new ET7, unveils new ES6 at Shanghai auto show

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Buick Electra E5 gets over 8,000 orders in less than 2 weeks after launch in China

Buick Electra E5's aggressive pricing in China has garnered a good initial reception.

(Image credit: CnEVPost)

Buick's aggressive pricing for the Electra E5, its first electric model based on GM's Ultium platform, seems to be getting good initial results.

The Electra E5 has already received more than 8,000 orders, Buick announced in a post on its official WeChat account yesterday. This comes just 12 days after the model's official launch in China.

Buick launched the Electra E5 in China on April 13, offering five versions with starting prices of RMB 208,900 ($30,130), 222,900, 225,900, 239,900, and 278,900 respectively.

The Electra E5 is a mid-size five-seat SUV with a length, width and height of 4,892 mm, 1,905 mm and 1,655 mm, respectively, and a wheelbase of 2,954 mm.

The starting price of RMB 208,900 is very aggressive for an electric SUV of that size.

BYD's Tang EV starts at RMB 282,800 and measures 4,900 mm in length, 1,950 mm in width and 1,725 mm in height, with a wheelbase of 2,820 mm.

The Model Y, the best-selling electric SUV in China, measures 4,750 mm in length, 1,921 mm in width, 1,624 mm in height, and has a wheelbase of 2,890 mm currently starting at RMB 261,900.

Seventy-eight percent of consumers who ordered the Electra E5 chose versions priced at RMB 225,900 and RMB 239,900, Buick said.

The car is available in three range versions with CLTC ranges of 545 km, 603 km and 620 km.

Its highest-priced, with a range of 603 km, is the dual-motor 4WD version, while the other versions are single-motor versions.

The highest range version has a maximum motor power of 150 kW and uses a ternary lithium battery pack with a capacity of 80 kWh.

The Electra E5 four-wheel drive version has a front permanent magnet synchronous motor with a maximum power of 143 kW and a maximum torque of 305 Nm and a rear induction asynchronous motor with a maximum power of 68 kW and a maximum torque of 160 Nm. It is equipped with an 80-kWh ternary lithium battery pack.

Of the consumers who ordered the Electra E5 so far, 42 percent chose the model with a CLTC range of 620 km, according to Buick.

(1 $= RMB 6.9326)

Buick launches electric SUV Electra E5 in China with competitive pricing

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