Author: Linda Ma

SAIC Motor Corp’s electric vehicle unit, IM Motors, is gearing up to unveil its first EREV model early next year, taking direct aim at Li Auto’s popular Li L7 SUV. IM Motors’ initial foray into EREVs comes in the form of an SUV slated for release in the first quarter of 2025, according to a report by local media outlet 36kr, citing sources familiar with the matter. The company’s EREV project, initiated in the latter half of 2023, is strategically focused on capturing a significant market share swiftly, especially with the growing popularity of plug-in hybrid electric vehicles (PHEVs) and…

Nio has projected a significant increase in deliveries for the second quarter, expecting numbers to more than double compared to the same period last year, reaching between 54,000 and 56,000 units. The company also anticipates a near doubling of revenue to approximately $2.3 billion for the three-month period starting April. Despite these optimistic figures, Nio, founded nine years ago, is still operating at a loss. The company reported a net loss of $718 million for the first quarter, a slight improvement from the $772 million loss in the fourth quarter of 2023. Nio’s recent success in boosting sales can be attributed…

China’s new energy passenger car sales experienced a significant rebound in May, following an unexpected drop in April, according to a report from the China Passenger Car Association (CPCA). Wholesale sales of new energy vehicles (NEVs) in China reached an estimated 910,000 units in May, marking a 35 percent year-on-year increase and a 16 percent increase from April. In April, manufacturers with wholesale sales exceeding 10,000 passenger NEVs accounted for 86.6 percent of all wholesale NEV sales, the CPCA noted. The estimated sales for these manufacturers in May totaled 790,000 units. Based on last month’s structure, China’s May passenger NEV…

Nio has received approval to construct a third factory in China, positioning itself to match Tesla’s production capacity in the country. This new facility would increase Nio’s approved production capacity to 1 million cars, nearly on par with Tesla’s massive Shanghai plant, according to sources familiar with the matter. Tesla’s Shanghai plant currently has the capacity to produce 1.1 million vehicles annually, making it the company’s largest manufacturing hub globally. The approval for Nio’s new plant, with a planned capacity of 600,000 units per year, is seen as a significant achievement, especially considering China’s cautious approach to approving new EV…

Xiaomi Auto is set to roll out an over-the-air (OTA) update to SU7 owners on June 6, with one of the key upgrades being the introduction of City NOA (Navigate on Autopilot) to eligible drivers. This update comes as Xiaomi also announced a reduction in the cooling down period for placing SU7 orders, from 7 days to 3 days. The City NOA feature will be available for Xiaomi SU7 cars equipped with the Xiaomi Pilot Max intelligent driving operating system, specifically the SU7 Pro and SU7 Max models. Eligible drivers must have accumulated 1,000 kilometers of safe intelligent driving by…

BAIC BluePark and Huawei’s collaborative effort, the Stelato S9, unveiled at the Beijing Auto Show, is now open for pre-orders in China. The domestic launch is scheduled for the coming months, with pre-sales starting on May 31st. The pricing ranges from 450,000 to 550,000 yuan, approximately 57,000 to 70,000 euros, with the market launch slated for August. The Stelato S9, the first model resulting from the BAIC BluePark and Huawei partnership, shares similarities with the Chery-Huawei Luxeed S7 but boasts larger dimensions. It measures 5,160 mm in length (+189 mm), 1,987 mm in width (+24 mm), and 1,486 mm in…

Leapmotor reported a significant milestone in May, delivering 18,165 vehicles, marking a year-to-date high and coming close to its all-time high at the end of last year. This figure represents a robust 50.65% increase year-on-year and a 21.06% increase from April’s deliveries of 15,005 vehicles. In the January-May period, Leapmotor delivered a total of 66,580 vehicles, reflecting an impressive 112.76% year-on-year growth rate. See also: Leapmotor Restructures Operations, Disbands Overseas Team Following Stellantis Joint Venture The company’s two SUV models, the C11 and C10, were the top performers in May, accounting for 11,992 units or 66.02% of total deliveries. Founded in…

Austria-based contract manufacturer Magna Steyr has confirmed ongoing discussions with several Chinese OEMs regarding the possibility of local electric vehicle (EV) production in Europe. The move comes amidst concerns over potential tariffs that Europe may impose on Chinese imports, prompting automakers to explore local manufacturing options. Magna Steyr, a subsidiary of Magna International, is renowned for its automotive manufacturing capabilities, having produced vehicles for Mercedes-Benz, Jaguar, and Fisker, among others. With the suspension of Fisker Ocean SUV production, Magna is seeking to utilize its production capacity and is considering partnerships with Chinese EV manufacturers. See also: Magna International Misses Analysts’ Estimates,…

Chinese electric vehicle (EV) manufacturer Leapmotor has undergone a significant restructuring, including the dissolution of its overseas business development team, following the establishment of its joint venture, Leapmotor International, with European automaker Stellantis NV earlier this month. In a major shake-up of its marketing system, Leapmotor has disbanded its overseas business unit, with team members reassigned to various departments including vehicle product lines, services, management and marketing, and operations, according to a report by local media outlet 21jingji. See also: Leapmotor International Joint Venture Launched, Bringing EVs in Europe in September The decision to dismantle the overseas business unit may be…

Tesla is gearing up to register its Full Self-Driving (FSD) software with Chinese authorities ahead of its planned launch later this year, Reuters reported, citing sources familiar with the matter. Once the software is registered with China’s Ministry of Industry and Information Technology (MIIT), Tesla will conduct internal testing of FSD on public roads in China, with plans to offer it as an upgrade to Chinese customers in the coming months. The company is also considering a monthly subscription model for the software, priced at approximately $98, in addition to the current one-time fee of RMB 64,000 yuan ($8,840) offered…

Chinese car manufacturer Great Wall plans to shut down its European headquarters in Munich by the end of August, resulting in the dismissal of all 100 employees. While this move signifies the end of the company’s expansion into other European markets, Great Wall has clarified that it does not intend to withdraw entirely from Europe. According to sources cited by German publication Manager Magazin, Great Wall announced this decision to employees and business partners on Tuesday. The closure will include the departure of the entire top management team, including Commercial Director Steffen Cost, who previously worked at Kia. Despite closing…

Japan and the Association of Southeast Asian Nations (ASEAN) are set to collaborate on their first joint strategy for automobile production and sales within the Southeast Asian region, aiming to counter China’s growing influence in the electric vehicle (EV) market, as reported by the Nikkei newspaper on Monday. The plan is to formulate an interim joint strategy extending through approximately 2035, with the economic ministers of Japan and ASEAN members expected to convene as early as September to discuss the details, Nikkei reported, citing unnamed sources. The joint strategy is anticipated to include collaboration in areas such as personnel training,…

Canada is evaluating the need to raise tariffs on Chinese-made electric vehicles after the White House announced substantial new levies on them, Trade Minister Mary Ng told Bloomberg News on Friday. “We are looking at this very carefully and we have an open dialogue with our American partners,” Bloomberg quoted Ng as saying in a phone interview from Peru, where she is attending meetings of the Asia-Pacific Economic Cooperation forum. Canada’s trade ministry and Ng’s office did not immediately respond to a Reuters request for comment on the report. The potential Canadian decision comes after U.S. President Joe Biden’s announcement…

Nio CEO William Li and Onvo President Alan Ai held a press conference to outline the future of the Onvo brand and its strategic positioning relative to Nio. They announced that Onvo’s second model will be a larger SUV designed for families, seating six or seven people, but it is not expected to enter production before mid-2025 according to Car News China. Onvo is set to open 100 directly operated stores by September, coinciding with the launch of the Onvo L60, and aims to expand to 200 stores by the end of 2024. Unlike Nio, Onvo will not offer exclusive…

Li Auto is currently embroiled in a class action lawsuit alleging that it misled investors by inflating market demand for its Li Mega MPV (multi-purpose vehicle) during the model’s launch. The lawsuit, filed by a group of investors, accuses Li Auto and some of its executives of securities fraud, claiming that false statements were made that violated securities laws and led to financial losses for investors. Beijing-based attorney Hao Junbo’s law firm, representing the investors, issued a statement yesterday detailing the allegations. According to the statement, investors are seeking damages for losses incurred due to the drop in Li Auto’s…

Li Auto is reportedly undergoing substantial layoffs, with the company’s sales falling short of expectations. According to a report from local media outlet 21jingji, the layoffs could affect more than 18 percent of Li Auto’s overall workforce. The carmaker’s 2023 financial report indicates a significant increase in its workforce, reaching nearly 31,600 employees, up 63 percent year-on-year. Based on the reported percentage of layoffs, Li Auto may reduce its workforce by more than 5,600 in the current round. Specifically, the layoffs are said to be impacting various divisions within Li Auto, including the sales and service operations division, the hiring…

Xiaomi EV, the car-making unit of Chinese smartphone giant Xiaomi, is reportedly gearing up to implement a double-shift production model starting next month in a bid to meet soaring delivery demands. According to local media outlet Cailian, Xiaomi EV’s factory in Beijing is poised to transition to a double-shift production schedule in June, doubling daily production hours from 8 to 16 hours. Xiaomi founder, chairman, and CEO Lei Jun had previously stated that the factory can produce 40 Xiaomi SU7s per hour, with a new car rolling off the line every 76 seconds. With the implementation of the double-shift model,…

Chinese electric vehicle manufacturer Nio has unveiled its new lower-priced brand, Onvo, with the launch of its first vehicle, the Onvo L60 SUV. Priced starting from 219,900 yuan ($30,476), the Onvo L60 aims to compete directly with Tesla’s Model Y, the world’s best-selling electric vehicle. Nio’s CEO, William Li, introduced the Onvo L60 SUV in Shanghai, highlighting the company’s ambition to redefine the standards for family cars. “RAV4 and Model Y were the benchmark for family cars in their time. With technologies evolving and people’s understanding in smart EVs deepening, today it’s time for us to redefine the new standards…

Xpeng is reportedly set to utilize batteries from BYD in its Mona sub-brand, mirroring a strategy adopted by Nio for its Onvo sub-brand. According to a report from local media outlet 21jingji, the Mona’s first model will incorporate batteries from BYD, offering a range of over 500 kilometers. This range is comparable to the entry-level version of Xpeng’s G6, which boasts a 580 km range and starts at RMB 179,900. Xpeng’s decision to source batteries from BYD for the Mona sub-brand aligns with Nio’s recent partnership with BYD for its Onvo sub-brand, as reported by Reuters on May 7. Xpeng…

The US government has announced a significant increase in tariffs on several Chinese products, including electric vehicles (EVs) and lithium-ion batteries, in a move that could further strain trade relations between the two countries. Starting in 2024, tariffs on Chinese EVs will quadruple from 25 percent to 100 percent, according to a statement from the Office of the US Trade Representative. The levy on lithium-ion batteries will also rise sharply, from 7.5 percent to 25 percent. Additionally, tariffs will increase on other products such as solar cells, steel, and aluminum. US Trade Representative Katherine Tai stated that these measures are…