Tagged: eV

Insurance registrations for week ending Apr 23: Tesla 10,300, Li Auto 7,200, NIO 2,000

NIO sold 2,000 units last week, up from 700 the week before and 1,316 in the first week of April.

(NASDAQ: LI) maintained strong sales last week, and NIO (NYSE: NIO) saw a significant rebound, the latest data show.

With 7,200 units sold in the week ending April 23, Li Auto far outpaced other new car-making brands, the automaker said today on Weibo.

With deliveries of the Air versions of the Li L8 and Li L7, Li Auto's weekly sales hit another record high, it said.

Li Auto didn't specify what statistic that sales figure was based on, though apparently, it was insurance registrations. Previously, we had access to those numbers every Tuesday, and Li Auto's practice was to share some of them on Wednesdays.

The main third-party agencies and Weibo bloggers that provide data on auto insurance registrations in China stopped sharing the data this month, but Li Auto continues to share some of it.

This is the first time Li Auto has shared those numbers on a Tuesday, though they weren't taken down to single digits.

(NASDAQ: TSLA) sold 10,300 units last week, according to the table shared by Li Auto. That was down from 12,500 units the week before and up from 6,973 units in the first week of April.

NIO sold 2,000 units last week, up from 700 the week before and 1,316 in the first week of April.

(NYSE: XPEV) sold 1,900 units last week, up from 1,300 units and 904 units in the previous two weeks.

sold 2,100 units last week, up from 1,600 units the previous week and 1,476 units in the first week of April.

Among luxury brands, Mercedes-Benz, BMW and Audi had the highest sales last week with 15,800, 15,600 and 14,800 respectively, according to data shared by Li Auto.

Insurance registrations for week ending Apr 16: Tesla 12,500, Li Auto 6,300, NIO 700

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China to introduce credit pool for NEV dual credit system that is expected to facilitate credit trading

Automakers can voluntarily apply for storage of positive credits when the supply exceeds demand, and release credits when the supply is less than demand.

China to introduce credit pool for NEV dual credit system that is expected to facilitate credit trading-CnEVPost

(Image credit: CnEVPost)

China will introduce a new credits trading system for the dual-credit mechanism in the new energy vehicle (NEV) industry, which is expected to facilitate credits trading between automakers.

The country has launched the second revision of its dual-credit mechanism, which will implement a credits pool management system and explore mechanisms to interact with the carbon trading market, the Shanghai Securities News said in a report today.

The 2023 annual credits report press conference was held today in Beijing, where China's industry regulators released the information, according to the report.

Under the credit pool system, automakers can voluntarily apply for storage of positive credits for NEVs when the supply exceeds demand.

The storage of positive credits collected into the pool is valid for five years. The previous carryover ratio requirement will be canceled, i.e. there will no longer be a discount for credits carried over to the next year.

When the supply of credits is less than the demand, automakers can release the stored positive credits to regulate the supply and demand in the credits market.

The trigger condition for the pool to collect and release credits is determined by the ratio of supply to demand, which refers to the ratio of positive NEV credits available for trading in the current year to the negative credits to be offset by external trading.

The Shanghai Securities News report provided no further information on this new mechanism.

China released the dual-credit policy in 2017, whose full name is "Parallel Management Measures for Average Fuel Consumption of Passenger Vehicle Enterprises and New Energy Vehicle Credits". The policy has been in effect since April 1, 2018.

Automakers that fail to meet the fuel consumption control requirements can offset the negative credits from excessive fuel consumption by generating their own NEV credits, or by purchasing credits from other companies.

If a car company is unable to bring negative credits to zero, then they will need to submit a product adjustment plan to the MIIT and set a deadline for compliance.

Until their negative credits are zeroed out, products with substandard fuel consumption cannot be sold to the public.

The policy is seen as one of the keys to promoting the rapid growth of China's NEV industry, allowing the country to reach its 2025 NEV penetration target of more than 25 percent ahead of schedule.

For the full year 2022, China's retail sales of new energy passenger vehicles were 5.67 million units, up 90 percent year-on-year, contributing 27.6 percent of all passenger vehicle sales, according to the China Passenger Car Association (CPCA).

China's 'dual credit' policy, what you need to know

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NIO to allow vehicle owners free access to swap stations along highways for upcoming Labor Day holiday

NIO offered similar benefits during the Chinese New Year holiday earlier in the year and saw a surge in battery swap services.  |  NIO US | NIO HK | NIO SG

NIO to allow vehicle owners free access to swap stations along highways for upcoming Labor Day holiday-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) will continue to allow its car owners unlimited free access to battery swap stations along highways in China for the upcoming golden week, following a similar campaign earlier this year.

For the upcoming Labor Day holiday, all NIO owners will have unlimited free access to battery swap stations along highways, the electric vehicle (EV) maker announced today on its mobile app.

The Labor Day holiday in China runs from April 29 to May 3 this year, and NIO owners will have free access to these battery swap stations from April 28 to May 4, although vehicles used for operations are excluded.

Most NIO owners currently have the benefit of four to six free battery swaps per month, with a few early adopters having unlimited access to the service.

The benefits NIO is offering for the upcoming holiday season are in addition to the benefits owners already have.

The company offered similar benefits during the Chinese New Year holiday earlier this year, allowing for a spike in the number of services offered at its battery swap stations.

NIO offered free access to battery swap stations from January 13 to February 5 during this year's Chinese New Year holiday, which ran from January 21 to January 27.

On January 27, NIO's battery swap stations reached an all-time high of 62,356 services in a single day, according to its previously announced data.

The free battery swap service provided during the Chinese New Year holiday did not put additional cost pressure on NIO, as the revenue generated by its charging stations at the time largely covered those costs, the company said at a media briefing in early February.

As of April 25, NIO had 1,369 battery swap stations in China, including 362 along highways, according to data monitored by CnEVPost.

The company also has 2,512 charging stations in China, providing 14,903 charging piles.

NIO's goal is to add 1,000 battery swap stations this year, bringing the number of facilities to 2,300 by the end of 2023.

NIO provides nearly 1 million battery swap services in half month around Chinese New Year holiday

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NIO ES7 wait time reduced to about 3 weeks

The wait information for the NIO ES7 last changed on April 17, when it went from about 2 weeks to 3-5 weeks.

NIO ES7 wait time reduced to about 3 weeks-CnEVPost

(Image credit: CnEVPost)

The wait time for the NIO (NYSE: NIO) ES7 in China has been slightly shortened, with that information for the SUV becoming longer a week ago.

For consumers currently locking in orders for the ES7, delivery is expected in about 3 weeks, information from the NIO App monitored by CnEVPost shows.

The last change in the wait information for the NIO ES7 was on April 17, when it went from about 2 weeks to 3-5 weeks.

NIO ES7 wait time reduced to about 3 weeks-CnEVPost

(Screenshot on April 25.)

NIO's website and app currently showcase 7 models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, ET5.

All are new models based on the NT 2.0 platform, except for the EC6, which is an older model based on the NT 1.0 platform.

In the vehicle configurator of NIO App, only five models are available -- the new ES8, ES7, EC7, ET7, ET5, while the configurator of the new ES6 and the EC6 based on NT 1.0 platform is not available.

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 previously available version, while the price of the new ES6 was not announced.

On April 21, the NIO App saw major changes to the vehicle configurator, with the ET7's wait times starting to be displayed again.

Except for the ES7, wait times for all other NIO models are unchanged today -- deliveries of the new ES8 are expected to begin in June, wait times for both the EC7 and ET7 are about 4 weeks, and for the ET5 is about 2 weeks.

NIO delivered 10,378 vehicles in March, up 3.94 percent from 9,985 units a year ago but down 14.6 percent from 12,157 units in February.

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

NIO's battery swap network completes initial coverage of Beijing-Taipei highway

Changes in wait times for NIO models

DateModelPrevChangeLatest
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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Tesla opens its Supercharger network in China to other brands of EVs on pilot basis

Tesla is initially opening 10 Supercharger stations in the Chinese mainland for 37 non-Tesla models.

(Image credit: CnEVPost)

Tesla announced today that it is opening its Supercharger network in the Chinese mainland on a pilot basis to other brands of electric vehicles (EVs), following its practice in more than 10 other markets.

The EV maker is initially opening 10 Supercharger stations for 37 non-Tesla models, according to an announcement it posted on WeChat.

Notably, the pilot is currently limited to Beijing and Shanghai, with each city offering five Supercharger stations to participate in the pilot.

The 37 non-Tesla models include the NIO ES6, NIO EC6, P7, Li ONE, 001, BYD Han EV, BYD Tang EV, and Polestar 2.

In addition to the Supercharger stations, Tesla has opened 120 destination charging stations on a pilot basis, covering 25 provinces and cities in the Chinese mainland.

To date, Tesla has more than 1,600 Supercharger stations in the Chinese mainland, offering more than 10,000 Superchargers, according to the announcement.

It also has more than 700 destination charging stations in the Chinese mainland, offering more than 2,000 charging piles.

At the end of 2021, Tesla opened its charging network to non-Tesla vehicles on a pilot basis in Europe, and the service is now available to owners in more than 10 countries and regions worldwide, the company said.

Now, owners of non-Tesla-branded EVs in the Chinese mainland can also enjoy an efficient, convenient and dense Tesla charging network, it said.

Tesla hopes its open and innovative business logic will bring together more industry partners to accelerate the world's transition to sustainable energy, it added.

Tesla prices: Here's how Model 3 and Model Y compare in China vs other markets

First 37 non-Tesla models that can use Tesla Superchargers in Chinese mainland

BrandModel
AiwaysU5
BMWi3, iX, iX3
PorscheTaycan
Mercedes-BenzEQC
BYDHan EV, Tang EV
Great Wall OraGood Cat
Dongfeng AeolusE70
Dongfeng NissanSylphy
Ford MustangMach-E
HiPhiHiPhi X
GAC AionLX
GAC ToyotaC-HR EV
Hozon U
Emgrand Gse, Geometry A, Geometry C
ZeekrZeekr 001
PolestarPolestar 2
Jaguar Land RoverI-Pace, Range Rover PHEV
SeresSF5
Li AutoLi ONE
LeapmotorC11
AITOM5
SAICMarvel R
FAW VolkswagenID.4 Crozz
WM MotorEX5
NIOEC6, ES6
VolvoXC40
XPengP7
FAW-Audie-tron
FAW ToyotaIZOA E
FAW HongqiE-HS9

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California hits 1.5 million plug-in vehicles

2021 Ford Mustang Mach-ECalifornia is farther ahead on the road to electric vehicle adoption than it anticipated a decade ago. Governor Gavin Newsom last week announced that the state had passed a cumulative 1.5 million cumulative plug-in vehicle sales. That’s two years ahead of a goal set by previous California Governor Jerry Brown, aiming to hit that number by...

Tesla Q1 revenue from China up 6.86% from Q4 to $4.89 billion

In the first quarter, China contributed 20.97 percent of Tesla's revenue, up from 18.82 percent in the fourth quarter but down from 24.79 percent in the same quarter last year.  |  TSLA.US

Tesla Q1 revenue from China up 6.86% from Q4 to $4.89 billion-CnEVPost

Tesla's revenue from China continued to grow in the first quarter, although its global revenue declined in the quarter compared to the fourth quarter.

In the first quarter, Tesla's revenue from China was $4.891 billion, up 5.18 percent from a year ago and up 6.86 percent from the fourth quarter of last year, according to a 10-Q filing it made with the US Securities and Exchange Commission today.

Tesla Q1 revenue from China up 6.86% from Q4 to $4.89 billion-CnEVPost

The US electric vehicle (EV) maker reported total revenue of $23.3 billion in the global market in the first quarter, up 24.38 percent year-on-year, but down 4.07 percent from the fourth quarter of last year.

This means that in the first quarter, the Chinese market contributed 20.97 percent of Tesla's revenue, up from 18.82 percent in the fourth quarter and down from 24.79 percent in the same period last year.

The US market contributed $11.2 billion, or 48 percent, to Tesla's total revenue in the first quarter.

International markets other than China contributed $7.2 billion, or 31 percent, of Tesla's total revenue in the first quarter.

Tesla Q1 revenue from China up 6.86% from Q4 to $4.89 billion-CnEVPost

Tesla announced on April 2 that it delivered 422,875 units worldwide in the first quarter, up 36.39 percent year-on-year and up 4.34 percent from the fourth quarter.

The deliveries beat Wall Street analysts' expectations of 421,200 units, with deliveries of Tesla's cheaper Model 3 with the Model Y exceeding expectations.

Tesla delivered 412,180 Model 3 and Model Y units worldwide in the first quarter, above market expectations of 408,500 units. A total of 10,695 Model S and Model X units were delivered in the first quarter, below expectations of 16,700 units.

In the first quarter, Tesla sold 229,322 China-made vehicles globally, up 25.88 percent from 182,174 in the same period last year, according to data released earlier this month by the China Passenger Car Association (CPCA).

This means that 54 percent of Tesla's global deliveries in the first quarter were made at the Shanghai plant.

In China, Tesla delivered 137,429 vehicles in the first quarter, up 26.90 percent year-on-year, according to data from the CPCA monitored by CnEVPost.

Tesla's Shanghai plant exported 91,893 vehicles in the first quarter, up 24.39 percent year-on-year.

Tesla Model Y best-selling SUV in China in Mar with 54,937 units sold

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Li Auto CEO predicts China NEV penetration to exceed 80% by Dec 2025

The years 2023-2025 for China's smart EV market will be like the last three years of World War II in history from 1943-1945, said Li Xiang.

China's Mar passenger NEV retail up 23.6% MoM to 543,000, CPCA data show-CnEVPost

Li Xiang, founder, chairman and CEO of Li Auto (NASDAQ: LI), predicted a month ago that China's new energy vehicle (NEV) penetration rate would reach 70 percent by the fourth quarter of 2025.

Now, perhaps fueled by optimism from the Shanghai auto show, he's making an even bolder prediction.

By December 2025, NEVs will account for more than 80 percent of all new vehicle sales in China, Li said in his WeChat status today, adding that the five permanent NEV brands will be born by then.

The years 2023-2025 for China's smart EV market will be like the last three years of World War II in history from 1943-1945, Li said.

Notably, this comes just a month after Li last made a bold prediction.

On March 25, Li said on Weibo that NEVs will contribute 70 percent of new car sales in China by the fourth quarter of 2025.

It's crossing the chasm theory that growth starts to accelerate when a new thing accounts for more than 30 percent, he said.

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, according to the China Passenger Car Association (CPCA).

Retail sales of all passenger vehicles in China in 2022 were 20.54 million units, up 1.9 percent year-on-year. This represents a 27.6 percent penetration rate of new energy passenger vehicles in China in 2022.

In March, retail sales of new energy passenger vehicles in China were 543,000 units, contributing 34.2 percent of all passenger vehicle sales of 1,587,000 units.

In the past few years, annual passenger car sales in China have remained at about 20 million units per year, or about 1.67 million units per month.

If Li's latest forecast turns out to be accurate, it would mean that by December 2025, China's monthly NEV sales will exceed 1.3 million units.

Li Auto is one of the most successful EV startups in China, currently offering three models -- Li L7, Li L8 and Li L9 -- all extended-range electric vehicles (EREVs).

The company delivered 20,823 vehicles in March, the second time since last December that it has exceeded 20,000 units.

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

On April 18, Li Auto officially unveiled its all-electric solution based on the 800 V high-voltage platform, capable of giving a battery electric vehicle (BEV) a 400 km range on a 10-minute charge.

With the release of this solution, Li Auto will officially enter a phase of parallel development of its EREV and BEV product lines. By 2025, Li Auto's product array will include one super flagship model, five EREVs, and five BEVs, it said.

By that time, Li Auto's models for the market priced above RMB 200,000 will fully meet the needs of family users, the company said.

Li Auto could reach 40,000 monthly sales in 2023, exec hints

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