Author: Linda Ma

Li Auto, the Chinese electric vehicle (EV) maker, reported its unaudited fourth-quarter financial results with solid revenue and gross margin figures that exceeded market expectations. According to the financial reports released today, the company’s revenue was RMB 17.65 billion ($2.56 billion) in Q4 2022, slightly above the market consensus of RMB 17.622 billion. The automaker’s revenue grew by 66.19% year-on-year and 88.97% quarter-on-quarter. Li Auto had previously forecasted Q4 revenue of RMB 16.51 billion to RMB 17.61 billion. The company delivered 46,319 vehicles in the fourth quarter, which was within the guidance range of 45,000 to 48,000 vehicles. Li Auto’s…

Geely’s Zeekr brand has announced that their new MPV, the Zeekr 009, has been selected as the official vehicle for the upcoming 19th Asian Games. The electric vehicle will be used to shuttle members of the International Olympic Committee, the Olympic Council of Asia, and famous athletes during the Hangzhou Asian Games, which are set to begin in September. The decision to choose the Zeekr 009 as the official vehicle for the Hangzhou Asian Games highlights the growing popularity and trust in electric vehicles in the automotive industry. As the world shifts towards more sustainable transportation options, it’s exciting to…

BYD has denied reports of official price cuts on its Dynasty and Ocean series vehicles, stating that dealer promotions are responsible for discounts in some areas. The automaker’s operations remain stable and it is not currently considering price cuts, according to an unnamed company source cited by Yicai. However, Jiemian reported that several BYD showrooms in Beijing and Shanghai claimed to have received official notices of price reductions on most models, with discounts ranging from RMB 10,000 or more for older models and several thousand RMB off for popular models. See also: BYD Cuts Prices to Keep Market Share Amid…

Tesla China is gearing up to upgrade its Giga Shanghai Model 3 line at the end of February. This is a departure from the company’s usual practice of focusing on the domestic market in the latter half of each quarter. The upgrades are expected to pave the way for the release of an updated Model 3, making the vehicle more competitive in the market. Recent drone flyovers at the Shanghai port show that there are still a large number of Teslas waiting to be shipped abroad. Interestingly, many of the vehicles still at the port are right-hand-drive Model 3 units.…

Chinese smartphone makers Oppo and Vivo have announced a partnership with NIO, the electric vehicle (EV) maker, to adapt their smartphones into car keys for NIO’s vehicles. NIO owners can now use their Oppo or Vivo smartphones as senseless car keys by completing the necessary settings. Oppo users can add digital car keys to their phone’s wallet app, which will unlock the doors automatically when the phone is close to the car. Once the driver enters the car, they can activate the driving mode directly. After leaving the car with their phone, the vehicle will automatically lock, eliminating the need…

Huawei and Seres Group, one of its key partners in the automotive sector, have signed a new agreement to deepen their collaboration and expand their offerings in the field. According to a press release from Seres, the two companies will jointly launch a new vehicle platform, with the first flagship model expected to be released in 2023 and equipped with advanced intelligent driving systems. Additionally, several new models based on the platform are slated for release in the future. Huawei will bring its market and user demand insight capabilities to the table, while Seres will continue to evolve and improve…

NIO is reportedly planning to build its first battery plant to produce large cylindrical batteries similar to those used by Tesla, according to sources cited by Reuters. The new plant, located next to NIO’s major manufacturing center in Hefei, eastern China, will have an annual battery capacity of 40 GWh and will be capable of powering approximately 400,000 long-range electric vehicles. The move is aimed at reducing NIO’s reliance on suppliers such as CATL, and the company’s founder, chairman, and CEO, William Li, confirmed in an earnings call last June that NIO would develop its own batteries. See also: CATL…

Geely Auto, the Chinese multinational automotive company, has recently launched its latest series of vehicles, the Galaxy series. The first model of this series is the Geely Galaxy L7 SUV, a plug-in hybrid (PHEV) SUV that will begin deliveries in the second quarter of this year. The Galaxy series will focus on premium long-range hybrid and pure electric vehicles, with the L line representing PHEVs and the E line representing pure EVs. The second car of the Galaxy series, the L6 PHEV sedan, will start deliveries in Q3 of this year. The first car of the E series, the E8,…

Taiwan’s Delta Electronics, a leading supplier of power components to Tesla and other companies, is expecting significant growth in the next five years driven by the electric vehicle (EV) boom. The company’s chairman, Yancey Hai, made the bullish comments during a fourth-quarter earnings call, citing the shift towards EVs from traditional gasoline-powered vehicles as a major driver of growth. He stated that the company would grow at a double-digit rate on average for the next few years and that their goal is to achieve at least double-digit growth for the next five years. Delta Electronics’ components, such as fans, which…

Geely, the Chinese automotive giant and owner of Polestar, Zeekr, and Volvo, is taking on the likes of Tesla and BYD with the launch of its new high-end electrified product series, Geely Galaxy. With the first fully electric vehicle set to launch before the end of the year, the brand is adding to its impressive portfolio of sustainable transportation offerings. Geely’s journey towards sustainable transportation began in 2010 when it acquired Volvo from Ford, granting the Chinese automaker access to the Swedish automaker’s advanced technology and expertise in safety, design, and engineering. Geely also gained access to Volvo’s racing partner,…

Chinese automaker Geely is set to release a new variant of its popular Smart #1 electric vehicle (EV) later this year. The new model has been approved by Chinese regulators, giving us a sneak peek at its features. Compared to other versions of the Smart #1, the new variant will come with a smaller 49 kWh lithium iron phosphate (LFP) battery, instead of the current 66 kWh ternary (NMC) battery. It will also have a single rear motor capable of producing 268 horsepower, which is the same motor used in the non-Brabus version of the car. However, the top-of-the-line Brabus…

NIO is reportedly planning to launch a sub-brand, codenamed ALPS, that will target the mainstream market in the RMB 200,000 to 300,000 range. According to Jiemian’s recent report, the sub-brand will have a new channel and is expected to launch half the number of planned models compared to the main NIO brand. The monthly sales target is set to achieve 50,000 units, and the vehicles will be built on the NT 3.0 platform, supporting high-voltage fast charging. Mass production and delivery are expected to begin in the second half of 2024. Ai Tiecheng, the head of ALPS, was previously the…

Electric vehicle manufacturer NIO has achieved a significant milestone, completing its 10,000th battery swap in Europe. The achievement comes six months after the company’s service in China reached a cumulative total of 10 million battery swaps. The Norwegian app announced the news, revealing that the 10,000th swap occurred in Lier, Norway, on February 21. To celebrate the occasion, the user, Bjarte, received a specially engraved NIO Life bottle and a commemorative certificate. NIO has continued to expand its battery swap infrastructure in Europe, with 11 stations in operation as of February 15 and six more scheduled to open soon. The…

Geely’s Zeekr brand is under fire for allegations of sales fraud and unfulfilled promises, as the company denies these accusations and prepares for its US initial public offering. Last year, consumer discontent with Zeekr grew as Chinese subsidies for electric vehicle (EV) buyers came to an end. Zeekr attempted to offset this loss by promising lifetime warranties to those who ordered the 2022 Zeekr 001 before December 31st, 2022. Many customers placed orders, drawn in by the subsidy and lifetime warranty benefits, but were unaware that the 2023 Zeekr 001 had not yet been released. See also: Zeekr Secures $750…

Geely Holding Group’s premium outdoor lifestyle brand, Radar, has begun delivering its flagship pure electric pick-up truck, the RD6, to customers in China. The first batch of RD6 vehicles were delivered at an event in Shenzhen, and further delivery events have been planned throughout February 2023. Established in 2022, Radar is focused on meeting the demands of a new generation of global consumers who value sustainable vehicles for their outdoor adventures. The brand has a strong presence in China, with 52 stores and 24 experience centers across 50 cities. See also: Radar Auto RD6 specifications : Everything You should know…

China’s new energy vehicle market has experienced a surge in sales, reaching an all-time high of 238,000 units in 2022, a significant 90% increase from the previous year, according to an analysis by Shirly Zhu, principal analyst at Interact Analysis. The new energy bus market made up 58% of total sales and totaled 138,000 units. Interestingly, small-sized buses experienced the highest growth rate, with a staggering 180% year-on-year increase to nearly 93,000 units in 2022. See also: Transdev in Sweden Places Order for 52 Electric Buses from BYD Ahead of the cancellation of national subsidies in January 2023, registration of…

Chinese automaker GAC used last year’s Guangzhou Auto Show to reveal their upcoming all-electric flagship vehicle, the Aion Hyper GT. Now, the company has given us a closer look at the interior with a set of official images. While the company didn’t say much about the cabin, the images speak for themselves. The Aion Hyper GT’s interior design looks like it has borrowed a few ideas from Tesla, but with some unique features that set it apart. The cabin has a light and airy design, thanks to the panoramic glass roof, and the dashboard features suede upholstery that complements the…

NIO is taking a bold step towards revolutionizing EV charging in China. The company announced plans to build 1,000 battery-swapping stations in China in 2023, bringing the total number of such facilities to 2,300 by year-end. The Founder and Chairman of Nio, William Li, revealed the company’s ambitious plan on Tuesday. According to Li, Nio will construct 400 battery-swapping stations along highways and 600 in urban areas, focusing on the country’s third- and fourth-tier cities and counties. See also: Nio Expands European Battery Swapping Network with Ten Stations and Seven More in the Works Battery swapping technology allows drivers to…

NIO Capital, a venture capital firm, has invested more than RMB 100 million ($14.6 million) in Newrizon, an electric commercial vehicle manufacturer founded by a former senior vice president of NIO, Huang Chendong. The funding was part of a Series B+ round and will be used for the development and mass production of light trucks and van models, the development of core electric vehicle technologies, and accelerated expansion into domestic and international markets. Newrizon received a Series A investment of over $10 million from Lightspeed China Partners at its inception and a nearly $50 million funding round led by CCV…

NIO has allowing all owners of its NT 2.0 platform vehicles to apply for a trial of its Navigate on Pilot (NOP) Plus assisted driving software. The feature was previously available to a limited number of beta testers, but now all primary users of the ET7, ET5 and ES7 vehicles can apply to receive trial access to NOP+ Beta until March 31st, 2023. To apply, owners can sign up through the NIO App, but their vehicles’ systems need to be upgraded to Banyan 1.2.2 and above. The safety of the NOP+ Beta feature has been tested and proven over time,…