Author: Linda Ma

Lotus Technology, the electric car division of Geely subsidiary Lotus, has announced its intention to go public through a merger with the already listed L Catterton Asia Acquisition Corporation on the Nasdaq stock exchange. The business combination has an estimated enterprise value of $5.4 billion and, although no specific date has been named, this move represents a growing trend of companies using SPAC mergers as a fast route to go public on the Nasdaq. This method bypasses the traditional 2-year long process of an IPO and instead leverages a SPAC, or Special Purpose Acquisition Company, which is a listed company…

Tesla’s biggest rivals may not be in the US, but in China, according to CEO Elon Musk’s recent reference to “Some company out of China” during Tesla’s Q4 2022 earnings call. China has a thriving EV market with successful local brands like Li Auto, Nio, and Xpeng who are being impacted by Tesla’s price cuts in the country. Despite Musk’s previous statements about gas-powered cars being Tesla’s top rivals globally, in China, the US automaker is primarily focused on outperforming local EV brands. Tesla recently made major price cuts in various global markets, including the US and China, which are…

Zeekr is preparing for the release of its third model, one of two new models to be launched this year as the company anticipates increased competition in the world’s largest electric vehicle market. The company said in the tweet the third model was designed by the ZEEKR studio in Gothenburg and Based on EV-focused SEA architecture. ZEEKR’s third electric model follows the brand feature of top performance. The vehicle reaches acceleration from 0-100km/h within 4s. Zeekr was established as an independent firm in March 2021, offering the Zeekr 001 hatchback and 009 MPV, both produced at its plant in Ningbo,…

Li Auto delivered 15,141 vehicles in January, down 28.69% from December but up 23.42% from the same month last year. The decline in deliveries can be attributed to the negative impact of the Chinese New Year holiday. Li Auto currently offers two models, the Li L9 and Li L8, both of which are extended-range electric vehicles (EVs). On February 8th, the company will launch its newest model, the Li L7, a five-seat flagship family SUV. Li Auto has been dominating monthly sales of full-size SUVs in China since September, and its vehicles have become the top choice for premium SUVs…

Zeekr, Geely’s electric vehicle (EV) brand, aims to double its sales in 2023, according to its CEO, Andy An. In an internal letter, An acknowledged the intense competition in China’s EV market this year and stated that 2023 will be a crucial year for proving Zeekr’s development model. To meet this challenge, Andy An outlined five key objectives for the company in 2023, including delivering 140,000 vehicles. He emphasized the importance of accomplishing this goal, calling it a “hard battle.” The company also plans to launch two new EV models in 2023. “The 140,000-unit delivery goal will be a hard…

NIO is planning new factories for its two sub-brands, with one located outside of Hefei, Anhui, according to an inside source. The F4 plant for sub-brand “Firefly” will be in Chuzhou, Anhui and the F3 plant for “ALPS” will stay in Hefei. The F4 plant will manufacture vehicles for Firefly and some components, with main exports to Europe starting in Q3 2024. The Chuzhou factory will produce affordable small cars around 100,000 yuan. The F3 plant will continue to produce mid-to-high-end ALPS models, with prices ranging from 150,000 to 300,000 yuan. The NIO’s F3 and F4 plant groundbreaking ceremony is…

The Xiaomi Modena, the company’s first electric vehicle, has been spotted again in low-resolution, grainy photos obtained by Car News China. The images were taken from a display and show the car without any camouflaging. The design of the Xiaomi Modena resembles that of the Tesla Model 3 or Hyundai Ioniq 6 with a sedan trunk. It features pop-out door handles, a full glass roof, and a sensor array above its windshield. See also: Xiaomi’s Electric Vehicle “Modena” Spotted in Winter Testing Although an interior shot has not yet surfaced, there appears to be no digital dash and the car…

XPeng Aeroht, a subsidiary of XPeng, has made significant progress in their pursuit of regulatory approval with the granting of a conditional flight permit for the X2 flying car. This milestone makes the X2 the first manned eVTOL (electric vertical take-off and landing) product to receive such permission from the Civil Aviation Administration of China’s Central and Southern Regional Administration. The X2 has already completed over 3,000 test flights since its maiden flight in June 2021 and has now been granted a licensed flight certificate by Chinese civil aviation regulators. See also: XPeng Aeroht X2 flying car gets green light…

Xpeng is undergoing a transformation, with sales numbers plummeting to 6,000 vehicles sold in October and November 2022. Despite reports of CEO He Xiaopeng being replaced, the company denied these claims and confirmed he would remain as the head leader. In a recent development, Xpeng has hired former Great Wall Motor President Wang Fengying to lead product planning, portfolio management, and sales operations. With her decades of experience in the automotive industry, Xpeng hopes to turn its fortunes around as they face increasing competition and declining sales. “Ms. Wang brings to us over 30 years of experience in the automotive…

Mercedes is introducing its all-electric flagship SUV, the EQS, to the Chinese market on February 14 with a grand launch event. The EQS SUV will drive through a snowy field to showcase its capabilities. Although the EQS sedan has been available in China, the EQS SUV is new to the market. The company has not confirmed which versions will be offered, but customers can expect to choose from five and seven-seat configurations. Both the EQS and EQS SUV are based on the same electric platform and have the same wheelbase of 3,210mm, however, the EQS sedan is longer with a…

Zeekr previews the new electric compact crossover model 003, set to launch later this year. Zeekr is set to reveal 003 electric compact SUV, at the Shanghai Motor Show in April 2023. The 003 shares the same Scalable Electric Architecture (SEA) platform as the Zeekr 001 and 009, developed by parent company Geely. While details of the 003’s drivetrain are scarce, it is expected to offer a choice between single-motor rear-wheel drive and dual-motor all-wheel drive systems, with power outputs ranging from 268bhp to 422bhp in a high-performance variant. See also: Zeekr, Geely’s EV Brand, Plans to Double Sales in…

Peterbilt 579EV is a fully electric truck designed for optimal weight distribution and performance. The Model 579EV boasts a range of up to 150 miles and is equipped with thermally-controlled Lithium Iron Phosphate battery packs, which recharge in just 3-4 hours when used with a recommended DC fast-charger. This makes the Model 579EV ideal for regional haul, drayage, pickup and delivery, and last mile operations. The Model 579EV features a tandem drive configuration with Meritor 14Xe e-axle motors and is equipped with regenerative braking, which captures energy from stop-and-go operations to help recharge the batteries and extend the vehicle’s range.…