Author: Linda Ma

According to a recent research note by CITIC Securities analyst Yuan Jiancong’s team, China’s electrification transition is extending beyond passenger cars to include heavy trucks. The report indicates that by 2025, sales of electric heavy trucks in China are projected to reach 190,000 units, accounting for approximately 16 percent of the market. Moreover, the team predicts that the penetration rate of electric heavy trucks will soar to 35 percent by 2030, signifying a significant milestone in their widespread adoption. The surge in the penetration of new energy heavy trucks in China can be attributed to the nation’s stringent regulations on…

The highly anticipated 2023 Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show, also known as Auto Shenzhen 2023, is set to kick off this Friday in the vibrant city of Shenzhen, China. The event will feature prominent automakers, including Tesla and emerging Chinese manufacturer NIO, who will be showcasing their latest innovations and technologies. Organized by the show’s coordinators, it has been confirmed that Tesla will be one of the main exhibitors at Auto Shenzhen 2023, marking its first participation in a Chinese auto show since the Shanghai Auto Show in April 2021. The company’s absence from subsequent auto shows…

Voyah, the new energy vehicle (NEV) brand under Dongfeng Motor, has secured significant credit lines worth RMB 15 billion yuan ($2.1 billion) from six local banks. This financial boost positions Voyah for future expansion and development. A signing ceremony was held by Voyah to commemorate the partnership with six prominent banks, namely the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China CITIC Bank, and China Merchants Bank. This collaboration will enable Voyah to enhance its product development and marketing efforts, leading to the launch of high-quality vehicles, as stated by the…

Chinese electric car manufacturer, Nio, has released its balance sheet for the first quarter of 2023, revealing both positive and negative trends. Despite delivering 31,041 vehicles between January and March, which marks a 20.5% increase compared to the same period in 2022, Nio experienced a decline of 22.5% in vehicle deliveries compared to the previous quarter, Q4 2022. In terms of revenue, the company generated just under 10.7 billion yuan ($1.6 billion) in the first quarter, indicating a 7.7% growth from Q1 2022, but a 33.5% decrease from Q4 2022. Nio reported a net loss of approximately 4.7 billion yuan…

Zeekr, Geely’s premium electric vehicle (EV) brand, has commenced the delivery of its latest production vehicle, the Zeekr X, to customers in China. The Zeekr X was officially launched two months ago, and the company announced the successful delivery of the vehicle to owners in 25 cities across the country. Zeekr, which became an independent company in March 2021, introduced two other models prior to the Zeekr X: the Zeekr 001 hatchback and the Zeekr 009 MPV, both of which are currently available for purchase. In May, Zeekr delivered 8,678 vehicles, marking a 7.12 percent increase compared to April and…

Electric vehicle manufacturer NIO has recently announced its largest price and benefit adjustment in company history in an effort to stimulate sales. The company’s founder, chairman, and CEO, William Li, addressed the move in response to an article on the NIO App. Li mentioned that the adjustment had been under internal discussion for a considerable period, with input and suggestions taken from some of NIO’s customers. The company’s team was still finalizing the details of the adjustment as of 3 am today, indicating the thoroughness of their considerations. While NIO acknowledges that not everyone will be pleased with the changes,…

NIO, the Chinese electric vehicle (EV) manufacturer, has implemented a series of changes in an effort to stimulate sales. Starting from June 12, the company has reduced the starting prices of its entire lineup of models by RMB 30,000 ($4,200). However, one previously complimentary service, the battery swap option, will now be offered as a paid service. Under the revised pricing structure, the entry-level model ET5 sedan will be available at a starting price of RMB 298,000. Alternatively, customers can choose to lease the battery using the BaaS (Battery as a Service) plan, reducing the initial price to RMB 228,000.…

China’s New Energy Vehicle (NEV) market continues to surge as sales of electric cars and plug-in hybrids experienced significant growth in May. The China Association of Automobile Manufacturers (CAAM) reported that approximately 717,000 NEVs were sold during the month, marking a noteworthy increase compared to previous months. In April, 636,000 NEVs were sold, reflecting a 12.7% growth rate. May’s figures showcased an impressive 60% surge when compared to the same period in 2022, which saw sales of 421,000 NEVs. The market share of NEVs in total vehicle sales also rose from 29.5% in April to 30.1% in May. While these…

Chinese automaker BYD has recently unveiled the creation of a new sub-brand called Fang Cheng Bao, which translates to “Formula Leopard” in English. This addition marks BYD’s fifth sub-brand, joining the ranks of Denza, Yangwang, Dynasty, and Ocean series. With Fang Cheng Bao, BYD aims to blend the precision and regulations of Formula racing with the agility and untamed versatility of a leopard. The introduction of Fang Cheng Bao signifies a significant milestone for BYD, as the company seeks to cater to the increasingly personalized demands of consumers by offering a range of unique and high-quality new energy vehicle models.…

Neta Auto, the electric vehicle (EV) brand under Hozon Auto, is making its second shipment of thousands of EVs to overseas markets within a span of three months. The company announced that a total of 4,000 Neta EVs will be sent abroad, following the previous shipment of 3,600 vehicles in March, as stated in a recent WeChat post. Although Neta has not disclosed the specific countries to which the vehicles will be exported, it is likely that the focus will remain on Southeast Asia. Notably, in March, 3,600 units of the compact SUV Neta V were dispatched to Thailand. Thailand…

Great Wall Motor’s new energy vehicle (NEV) sales experienced significant growth last month as the company intensifies its efforts to transition towards electrification. According to recently released data, Great Wall Motor achieved a record-breaking sale of 23,755 NEVs in May. This represents a notable increase of 104.13 percent compared to the previous year and a 59.83 percent rise from April’s sales of 14,863 units. When considering both conventional fuel vehicles and NEVs, Great Wall Motor’s total sales in May amounted to 101,020 units. This signifies a year-on-year growth of 26.18 percent and an 8.49 percent increase from April’s sales figure…

NIO is preparing for the launch of its highly anticipated model, the ET5 Touring. The company recently announced that deliveries of the ET5 Touring will commence this month, and speculation suggests that the unveiling event will take place on June 15. A glimpse into the launch can be seen on the front page of NIO’s English-language website. The prominent image showcases an intricate detail of the model’s interior, accompanied by the text “Inspired By Life. Witness the launch of our next chapter.” While the specific model is not explicitly mentioned, the absence of a heads-up display (HUD) in the image…

German luxury carmaker BMW has announced a voluntary recall of electric vehicles (EVs) in China due to safety concerns. The recall, which began on June 2, affects a total of 99 EVs, including locally produced models such as the i3 and iX3, as well as imported models like the i4, i7, and iX. The recall was issued in accordance with the guidelines of China’s State Administration for Market Regulation (SAMR). BMW Brilliance, the joint venture between BMW and a Chinese partner, will oversee the recall of the domestically manufactured EVs. Among these are 42 i3 EVs produced in China between…

On June 1, Zeekr, a brand under Geely, delivered the Zeekr 001 WE electric vehicle at the CATL headquarters in China. This model comes with CATL’s cutting-edge CTP 3.0 Qilin batteries, offering an impressive 1,032 km CLTC cruising range. The introduction of the Zeekr 001 WE marks a significant milestone as it becomes the world’s first mass-produced vehicle equipped with Qilin batteries capable of exceeding 1,000 km on a single charge. Customers can choose from two battery capacity configurations for the WE version. The first option is a 100 kWh battery capacity, providing a range of 741 km and an…

Smart Automobile, the joint venture between Geely and Mercedes-Benz, is expanding its presence in China’s booming electric vehicle (EV) market with the introduction of its second model since transitioning to electrification. The highly anticipated Smart #3 was officially unveiled in China during a grand event held on Thursday evening, marking the beginning of its market availability. Deliveries of the vehicle are scheduled to commence this month, generating significant excitement among EV enthusiasts. The Smart #3 offers consumers three distinct versions to choose from: the Pro+, Pulse, and Premium. These variants come with starting prices of RMB 209,900 ($29,586), RMB 239,900,…

XPeng is gearing up to launch its latest offering, the G6 SUV. The company aims to directly compete with Tesla’s Model Y, listed on NASDAQ as TSLA. XPeng announced on Weibo that pre-sales for the G6 will commence on June 9, although specific details were not disclosed. The introduction of the G6 follows XPeng’s successful pre-sale of the P5 sedan. As per their customary approach, XPeng intends to unveil the pre-sale price of the G6 next week, with the official pricing slated for the end of June. During an analyst call on May 24, following the announcement of their first-quarter…

GAC Aion, the subsidiary of GAC Group specializing in new energy vehicles (NEVs), has achieved remarkable sales figures, surpassing expectations once again. The company reported that it sold an impressive 45,003 vehicles in May, marking the third consecutive month of surpassing the 40,000-unit milestone. This represents a staggering increase of 113.73 percent compared to the same period last year when sales reached 21,056 vehicles. Furthermore, it signifies a solid growth of 9.73 percent from April’s sales figure of 41,012 units. Throughout the first five months of this year, GAC Aion has experienced exponential growth, with a total of 166,323 vehicles…

According to the latest data from the China Passenger Car Association (CPCA), retail sales of new energy vehicles (NEVs) in China experienced a remarkable surge of 82 percent year on year in May. From May 1 to May 28, a total of 483,000 NEVs were sold across the country. The CPCA also reported that, as of May 28 this year, the cumulative retail sales of NEVs in China reached 2.33 million units, representing a significant 43 percent increase compared to the previous year. Concurrently, retail sales of passenger vehicles in China totaled 7.29 million units, marking a moderate 2 percent…

Cubonic, the emerging player in the electric shuttle market, has entered into a strategic partnership agreement with Punch Powertrain, a leading transmission manufacturer specializing in hybrid and electric drives. This collaboration aims to integrate Punch Powertrain’s electric drives into Cubonic’s vehicle architecture, focusing on the popular PeopleMover minibus and CargoMover light transport vehicle. Having recently emerged from the insolvency of Aachen-based electric shuttle developer Moove, Cubonic is poised to leverage the expertise of Punch Powertrain to further enhance its PeopleMover and CargoMover solutions. With a reputation for delivering complete hybrid and electric drive systems, Punch Powertrain’s involvement will undoubtedly accelerate…

Neta Auto, a prominent electric vehicle (EV) brand under Hozon Auto, achieved a significant milestone today as its 300,000th production vehicle rolled off the assembly line. This momentous event marks a pivotal point in the company’s history, highlighting its remarkable growth and success. Merely 16 months ago, Neta celebrated the production of its 100,000th vehicle, showcasing its rapid expansion and increasing market demand. Last year alone, the company recorded an impressive delivery of 152,073 vehicles, representing a staggering 118.26 percent year-on-year growth. Since its establishment in 2014, Neta has positioned itself as a budget-friendly EV manufacturer, capturing the attention of…