Author: Linda Ma

BYD’s premium Denza brand has unveiled the 2024 D9 MPV (Multi-Purpose Vehicle), offering lower prices and upgraded specifications. The updated D9 was officially launched at an event, featuring the D9 DM-i with BYD’s hybrid technology and the all-electric D9 EV. The seven-seat Denza D9 DM-i comes in five options with starting prices ranging from RMB 339,800 to RMB 449,800, while the seven-seat D9 EV offers three options with starting prices ranging from RMB 379,800 to RMB 469,800. The new D9 DM-i is priced RMB 10,000 lower than its predecessor, and the D9 EV’s starting price is RMB 16,000 lower. See…

Xiaomi is gearing up to unveil its first electric vehicle (EV) model, the SU7, with a launch event expected to take place at the end of this month, according to reports from local media outlet Lanjinger, citing inside sources. The report suggests that deliveries of the Xiaomi SU7 could commence shortly after the official launch event. Xiaomi announced its entry into car manufacturing on March 30, 2021, and introduced the SU7 on December 28, 2023. However, the price of the model has yet to be disclosed, and the official launch date is still pending. See also: Leaked Photos Reveal New Color…

BYD has introduced an updated version of its Seagull model, significantly lowering the price of its least expensive variant as part of its latest round of model updates. The company announced the launch of the Seagull’s Glory Edition, which now starts at RMB 69,800 ($9,700), down RMB 4,000, or 5.42 percent, from its previous starting price of RMB 73,800. This move comes after BYD’s recent model updates on February 19, which included the release of the Qin Plus Glory Edition and the Chaser 05 Glory Edition. These updates follow the introduction of the Champion Editions in the previous round of…

The European Commission is gearing up to initiate customs registration for Chinese electric vehicle (EV) imports, a move that could lead to tariffs if an ongoing trade investigation determines that these imports are benefiting from unfair subsidies. The Commission’s anti-subsidy probe into Chinese battery EVs aims to assess whether tariffs should be imposed to safeguard EU producers. While the investigation is slated to conclude by November, provisional duties could be imposed as early as July. See also: European Companies Call on China to Boost Domestic Consumption Amidst Electric Vehicle Surge In a document released on Tuesday, the Commission indicated that it…

Nio, the Chinese electric vehicle (EV) manufacturer, recently disclosed its fourth-quarter 2023 financial results and strategic initiatives during an analyst call. The company announced a new sales channel for its Alps brand, aiming to establish a sales network of at least 200 stores, complementing the existing 500 stores for the main Nio brand. In 2024, Nio plans to target lower-tier cities, deploying more charging and battery swap infrastructure in these areas to enhance accessibility and competitiveness. See also: Nio Beats Revenue Expectations in Q4 Despite Decline in Deliveries, Misses Gross Margin Forecast Despite challenges, Nio remains committed to maintaining its research…

Nio reported fourth-quarter revenue that surpassed expectations, although it experienced a decline due to fewer vehicle deliveries. However, its gross margins fell slightly in the fourth quarter, missing analysts’ expectations. According to its unaudited financial results, Nio recorded revenue of RMB 17.1 billion ($2.4 billion) in the fourth quarter of 2023, up 6.5 percent from the fourth quarter of 2022 but down 10.3 percent from the third quarter of 2023. Despite the decline, this figure exceeded the median Wall Street analyst estimate of RMB 16.8 billion in a Bloomberg survey and was above the upper end of its previous guidance…

A senior Chinese official has expressed dissatisfaction with the pace of progress among state-owned automakers in the country’s new energy vehicle (NEV) sector, hinting at forthcoming policies to address the issue. Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), emphasized the need to incentivize bold innovation and overcome institutional barriers, particularly in the NEV sector. He made these comments during a group interview with the media, highlighting concerns that state-owned automakers are lagging behind in NEV development. See also: China Sets Sights on 70% NEV Sales by 2030, Global Market Shifts Towards Electrification…

Kia is engaged in discussions with Thailand to establish an electric vehicle (EV) manufacturing facility in the Southeast Asian country, according to two government sources. Thailand aims to become a leading EV manufacturer in the region. The talks are currently focused on the incentives that Kia is seeking from the Thai government. “They have a serious proposal that they’ve come with,” said one of the sources. “The ball is in their court.” See also: Tesla in Talks with Thailand for Potential Factory Both Kia and Thailand’s Board of Investment (BOI) have not responded to Reuters’ inquiries regarding the matter. Thailand, known…

Chinese new energy vehicle (NEV) startup Leapmotor has announced plans to export its vehicles starting from the third quarter of this year, targeting sales of 6,000-10,000 units overseas. The company’s vehicles will be available in Europe, South America, the Asia-Pacific region, the Middle East, and Africa. Leapmotor’s international expansion is facilitated by an agreement reached with Italian automaker Stellantis in October. The agreement established a joint venture with exclusive rights for the export, sale, and manufacturing of Leapmotor vehicles outside China. See also: Stellantis Considers Producing Leapmotor EVs at Fiat’s Historic Mirafiori Plant in Turin Zhu Jiangming, founder and CEO of…

Li Auto announced that the first Li Mega electric MPV designated for customer delivery has been successfully produced at the company’s manufacturing facility in Beijing. Deliveries are scheduled to commence on March 11, marking a significant milestone for the Beijing-based automaker. The Li Mega, the debut battery electric vehicle (BEV) model from Li Auto, was officially unveiled on March 1. Since its launch, the Li Mega has garnered significant attention and popularity among customers. However, Li Auto has not disclosed the exact number of orders received for the model during the initial days of its launch. See also: Li Auto Officially…

Leapmotor has unveiled its latest offering, the C10 medium-sized five-seater SUV, in China. The vehicle is available in both Extended Range Electric Vehicle (EREV) and Battery Electric Vehicle (BEV) versions, with prices starting from 128,800 yuan (approximately $17,900 USD). The company has plans to launch the C10 overseas in the third quarter of this year. The EREV versions of the C10 are priced between 135,800 and 165,800 yuan (approximately $18,800 – $23,000 USD), offering different editions such as the 210 Comfort Edition, 210 Smart Edition, and 210 Smart Driving Edition. On the other hand, the BEV versions range from 128,800…

BYD, the prominent new energy vehicle (NEV) manufacturer, has launched the Yuan Plus Glory Edition, marking yet another significant update to its model lineup. Priced at RMB 119,800 ($16,650), the starting price of the new model is RMB 16,000 lower than its predecessor, the Champion Edition, representing an 11.78 percent reduction. Initially introduced to the Chinese market in February 2022, the Yuan Plus is BYD’s first SUV under the all-electric platform, e-platform 3.0. It also stands as the company’s inaugural model designed for the global market, having already been released under the Atto 3 moniker in various international markets. See…

Nio has inked a strategic cooperation agreement with Zhejiang EV-Tech Co Ltd, a local component supplier backed by Nio Capital, to co-develop and manufacture components for high-voltage system applications. The agreement, signed on March 1 in Shanghai, where Nio is headquartered, focuses on a high-voltage system project. According to EV-Tech, the collaboration will center on developing products based on Nio’s STEM Young high-voltage architecture platform. See also: Nio Expands NOP+ Driving Feature to Cover All Roads Nationwide in China The partnership aims to create intelligent power units (IPUs) that can be shared across different vehicle models, enhancing product development efficiency and…

Li Auto has unveiled its inaugural battery electric vehicle (BEV), the Li Mega MPV (Multi-Purpose Vehicle), at a grand launch event in Beijing, the company’s headquarters. Currently, the Li Mega is exclusively offered in the Max trim, starting at RMB 559,800 ($77,770), marking it as Li Auto’s most expensive model to date. The Li Mega is a seven-seat MPV, boasting dimensions of 5,350 mm in length, 1,965 mm in width, and 1,850 mm in height, with a wheelbase of 3,300 mm. See also: Li Auto CEO Expects Strong Sales for Li Mega BEV, Sets Ambitious Targets for 2024 Its exterior design…

IM Motors, the premium electric vehicle brand backed by state-owned Chinese automaker SAIC, announced on Friday that it has secured more than 8 billion yuan ($1.1 billion) in funding to develop new smart car models and technologies. The Series B round of equity financing is one of the largest investments in Chinese EV brands in the past two years, following Abu Dhabi-based CYVN’s $3 billion investments in NIO and Stellantis’ $1.6 billion purchase of a 21% stake in Leapmotor. See also: IM Motors Unveils 2024 L7 Sedan with Lower Price and Upgrades in China’s EV Market Established in 2020 by SAIC,…

ClearMotion, a US suspension startup backed by Nio Capital, has inaugurated its production facility in Changshu, Jiangsu province, marking a significant step towards mass production of active suspension products for Nio’s flagship sedan, the ET9. The facility, which officially opened on February 29, signifies ClearMotion’s commitment to bringing vehicles equipped with its active suspension technology into full-scale production, the company announced in a statement yesterday. See also: Nio Strikes Technology License Deal with Forseven Limited The ET9, unveiled at Nio Day in December 2023, will be the first vehicle to feature ClearMotion’s technology, according to the startup. The opening of the…

Chinese power battery giant CATL’s M3P battery is poised to make its way into Tesla’s (NASDAQ: TSLA) vehicles, following its successful integration into a model jointly developed by Chery and Huawei, as reported by local media. Responding to investor queries on February 28, CATL confirmed that its M3P batteries are already being utilized in a model co-developed by Chery and Huawei, with plans to expand its use to other customers, as reported by The Paper today. See also: CATL to Begin Mass Production of New M3P Battery Technology, Promising Improved Performance and Lower Costs While CATL is still in the process…

In a recent statement, Ouyang Minggao, an academician of the Chinese Academy of Sciences, predicted a significant rise in the popularity of New Energy Vehicles (NEVs) in China. He anticipates NEVs to account for 40 percent of total new car sales in 2024 and approximately 50 percent by 2025. Last year, NEV sales in China reached 9.49 million units, comprising 31.6 percent of new vehicle sales, according to the China Association of Automobile Manufacturers. See also: China’s New Energy Vehicle Sales Experience January Slump Amid Seasonal Trends Ouyang, who also serves as vice-president of the China EV 100, projects that by…

Chinese automaker BYD has announced that it has no plans to sell passenger electric vehicles (EVs) in the United States, citing the market’s complexity and political challenges. According to Stella Li, executive vice president and CEO of BYD Americas, while the US market is “interesting,” conflicting politics make it too complicated for BYD to enter. Li made the comments during an interview with Yahoo Finance Anchor Akiki Fujita, where she discussed BYD’s global EV strategy. Li confirmed that BYD will announce a new manufacturing facility in Mexico, likely in the second half of the year, but emphasized that the facility…

German automaker Volkswagen and Chinese electric vehicle (EV) partner XPeng announced on Thursday their plans to jointly develop an SUV as their first collaborative project. The companies have signed a “master agreement” for platform and software collaboration, aiming to reduce costs through a joint sourcing program for platform and vehicle parts used by both partners. This development marks a significant step in their partnership, which was initiated in July when Volkswagen acquired 4.99% of XPeng for approximately $700 million. The purchase was finalized in December, with plans to jointly launch two EV models by 2026. See also: XPeng and Volkswagen…