Author: Linda Ma

Xpeng, the Chinese electric startup, is determined to bounce back from a challenging start to 2023. Despite a 40% decline in sales during the first half of the year, the company remains optimistic about its prospects. Xpeng’s president, Brian Gu, recently revealed their new G6 crossover, a direct competitor to Tesla’s Model Y, and expressed confidence that it would significantly boost monthly sales figures in the coming quarters. Gu, speaking to the media, projected that the introduction of the G6 would elevate the brand’s monthly sales to 15,000 units in the third quarter, nearly double the figures for May and…

Shanghai-based Nio, often referred to as China’s Tesla, is demanding equitable treatment in the US market, similar to the access enjoyed by Tesla in China. The founder and CEO of Nio, William Li, argues that political tensions should not hinder the entry of car manufacturers into foreign markets. In an interview with the Financial Times, Li called upon the US government to provide Chinese electric vehicles (EVs) with fair opportunities in the American market. Li emphasized the need for openness in global business, urging an end to the politicization of commercial affairs. He questioned the obstacles faced by Chinese companies…

Nio, the electric vehicle manufacturer, has achieved a milestone as its cumulative battery swap services exceed 25 million. Within the last three months alone, Nio provided this revolutionary service 5 million times, reaching a total of 25,001,979 battery swaps to date. The company currently operates an extensive network of 1,553 battery swap stations across China, with 424 strategically positioned along major highways. The inauguration of Nio’s first battery swap station in Shenzhen on May 20, 2018, initially faced skepticism from car owners. However, over the past few years, the convenience and practicality of the service have won over a wide…

The Nio ET5 and Nio EL7, two all-electric vehicles, have made history by becoming the first cars to achieve a perfect five-star rating in the updated Euro NCAP safety testing procedures. Euro NCAP introduced new testing protocols for 2023, which encompass cutting-edge features such as child presence detection, vehicle submergence, and advanced technologies designed to detect and respond to vulnerable road users like motorcyclists. Both the Nio models were subjected to a rigorous examination of their safety capabilities, undergoing various scenarios that included car-to-motorcycle interactions, car-to-car crossings, car-to-car head-on collisions, dooring incidents, and driver-state monitoring tests. Remarkably, the ET5 and…

Chinese electric vehicle (EV) startup Byton, known for unveiling its first production-ready vehicle in 2019, has recently filed for bankruptcy in China, as reported by Pandaily. This development has dashed hopes for the company’s flagship vehicle, the M-Byte SUV, to ever enter series production. Byton’s troubles initially emerged in 2019, coinciding with the debut of the all-electric SUV at the Frankfurt Motor Show in Germany. The company faced setbacks such as failed funding from the Chinese auto group FAW, changes in management, and the discontinuation of investment by Foxconn a few months later. Additionally, the investment arm of the Nanjing…

In a significant move towards the widespread adoption of autonomous vehicles, the Office of the Beijing High-Level Autonomous Driving Demonstration Zone has announced the commercial launch of driverless taxis in the capital city. Under the new policy decision made on Friday, eligible companies will be permitted to operate autonomous taxis without safety supervisors on board and charge passengers for their rides. This expansion of driverless taxi services marks a notable milestone in the commercialization of intelligent transportation. Beijing had previously introduced self-driving taxis on a trial basis in March, following a series of road tests conducted with safety supervisors present.…

According to data released by the Ministry of Public Security (MPS), China’s ownership of new energy vehicles (NEVs) has reached 16.2 million by the end of June 2023, comprising 4.9% of the total 328 million vehicles. This marks an increase of 0.8 percentage points compared to the end of 2022. Previous data from the beginning of the year indicated that China had 13.1 million NEVs at the close of 2022, accounting for 4.1% of the 319 million total vehicle fleet. The latest figures reveal that China possesses 12.594 million pure electric vehicles, or battery electric vehicles (BEVs), representing 77.8% of…

SVOLT, the Chinese battery cell manufacturer that originated from Great Wall Motors, has commenced the establishment of a plant in Thailand dedicated to the assembly of battery modules and packs for electric and hybrid vehicles. The completion of the facility is scheduled for later this year. As per the information obtained from CN EV Post, the plan encompasses the installation of two production lines: one for the production of battery modules and another for the assembly of battery packs. The plant is expected to have an annual capacity of 60,000 units. While SVOLT will continue to supply batteries to its…

In a strategic move aimed at enhancing sales, Tesla is set to deploy its highly anticipated Optimus robot, known as Tesla Bot, within its stores. However, the innovative plan does not involve using robots to cater to customers directly—at least not yet. Sources familiar with the matter have revealed that Tesla has been conducting experiments with Optimus humanoid robot display units in its stores across China. These trials follow the automaker’s observation that the Tesla Bot garnered significant attention at expos and conferences, demonstrating its potential as a marketing tool. By integrating Optimus into its stores, Tesla aims to leverage…

BYD’s latest sub-brand, Fang Cheng Bao, is gaining momentum as it unveils the official name of its inaugural model. The brand, which was introduced on June 9 as the fifth addition to BYD’s brand matrix, following the Dynasty series, Ocean series, Denza, and Yangwang, has christened its first vehicle as the Leopard 5 (“豹5” in Chinese), according to an announcement made today on Weibo. Fang Cheng Bao, a name that translates to “Formula” and “Leopard,” embodies BYD’s commitment to a transformative ascent and exploration of the digital landscape. This new brand is set to make its mark with a hardcore…

SAIC Motor, the Chinese state-owned automaker, is intensifying its focus on electric vehicles (EVs) in Europe after experiencing strong sales this year. The company has revealed its plans to establish a new EV manufacturing facility overseas to cater to the growing demand in the market. Known as Shanghai Automotive Industry Corporation (SAIC Motor), the company is currently a global Fortune 100 entity and one of the four major Chinese state-owned automakers transitioning to EVs. Its EV initiatives span across China, other parts of Asia, and now Europe. SAIC Motor operates numerous joint ventures with global automakers, such as SAIC-Volkswagen, which…

In a recent development, China has decided to extend tax incentives for new energy vehicles (NEVs) for an additional four years. This move, according to Fitch Ratings, the international credit rating agency, is expected to invigorate the electrification momentum in the country. Fitch’s analysts, led by Jing Yang, highlighted in a research note dated June 28 that the extension of tax breaks for electric vehicle (EV) purchases will likely facilitate a steady growth trajectory for the sector. Furthermore, the continued coverage of subsidies for plug-in hybrid electric vehicles (PHEVs) reinforces Fitch’s belief that these vehicles will play a vital role…

Black Sesame Technologies, a prominent self-driving chip startup, has taken a significant step towards becoming the first Chinese company in its field to go public on the Hong Kong Stock Exchange. While the number of shares to be issued and the amount of capital to be raised have not yet been disclosed, the company has provided an elaborate overview of its operations and objectives. Established in 2016, Black Sesame Technologies specializes in supplying automotive System-on-Chips (SoCs) and solutions, earning recognition as one of China’s early players in the autonomous driving chip sector. The company gained prominence in January 2018 when…

According to a report from China-based publication Late Post, Tesla’s Gigafactory in Mexico is expected to commence vehicle production in the first quarter of 2025. Citing sources reportedly familiar with the matter, the report indicates a slight delay of one or two quarters from the initial projections. The primary reason behind this revised timeline is Tesla’s underestimation of the challenges involved in constructing a facility in Mexico. Teslarati, a news outlet focused on Tesla-related developments, notes that the American electric vehicle (EV) manufacturer apparently encountered unexpected difficulties during the construction phase. As a result, the company has adjusted its target…

Less than a month after commencing production of its new coupe SUVs in China, XPeng Motors has officially unveiled its latest model, the G6. With a price tag below $30,000, XPeng aims to position the G6 as a formidable rival to the Tesla Model Y and numerous other EVs in the Chinese market. This launch carries significant importance for the automaker, as it seeks to strengthen its sales performance in its home country, which has been less than stellar in recent times. At the heart of the G6 lies XPeng Motors’ SEPA 2.0 modular EV architecture, a next-generation 800 V…

Nio, experienced a significant rebound in deliveries as it introduced new models into the market. In June, the company successfully delivered 10,707 vehicles, marking a notable 73.96 percent increase from the previous month’s figure of 6,155 units. However, this represented a 17.39 percent decline compared to the same period last year when deliveries reached 12,961 vehicles. The delivery breakdown included 6,383 sport utility vehicles (SUVs) and 4,324 sedans, with specific model figures undisclosed. Throughout the second quarter, Nio accomplished a delivery total of 23,520 vehicles, representing a slight decline of 6.14 percent compared to the same period in the previous…

Changan Automobile, one of China’s leading automotive manufacturers, is making a strategic move into the thriving electric vehicle (EV) segment. The company’s new sub-brand, Qiyuan (启源), recently unveiled a glimpse of its debut model, the Qiyuan A07, through a series of images shared on Weibo. While the Qiyuan brand has yet to be officially launched, it has already established a presence on various social media platforms. Yesterday, Qiyuan made its initial Weibo post, featuring an exciting preview video showcasing the Qiyuan A07. Although further details about the A07 were not disclosed, the model had previously appeared in the filing catalog…

Li Auto, the Chinese electric vehicle (EV) manufacturer, has reportedly increased its sales target for the year after experiencing robust delivery growth in recent months. According to sources familiar with the matter cited in a report by local media outlet 36kr, Li Auto has raised its full-year sales target from the original 300,000 units to an ambitious 400,000 units. The company’s founder, chairman, and CEO, Li Xiang, has also established specific sales targets for various models. The Li L7, Li Auto’s first five-seat SUV, has been set a goal of achieving 20,000 deliveries in a single month by October. Additionally,…

After an extensive period of anticipation and preparation, the highly awaited launch date for Denza’s inaugural SUV under BYD’s premium new energy vehicle (NEV) brand has been revealed. Denza took to Weibo today to announce that the Denza N7 will officially debut on July 3, slightly adjusting the initial plans for its release. Zhao Changjiang, Denza’s General Manager of Sales, had previously stated on May 30 that the official launch of the Denza N7 would take place in late June, with deliveries commencing in July. While Denza refrained from disclosing additional details about the N7 during this announcement, the brand…

Berkshire Hathaway, the renowned investment company led by Warren Buffett, has recently divested 2.53 million Hong Kong-listed shares of electric vehicle manufacturer BYD , according to a stock exchange filing. The sale, which took place on June 19, amounted to HK$675.80 million (equivalent to $86.3 million). As disclosed in the filing submitted to the Hong Kong stock exchange on Monday, this transaction resulted in a decrease in Berkshire Hathaway’s holdings of BYD’s issued H-shares from 9.21% to 8.98%. The move signifies a strategic repositioning of Berkshire’s investment portfolio in the rapidly evolving electric vehicle sector. BYD, a leading player in…