Author: Jackson Han

Chinese electric vehicle (EV) manufacturer Nio (NYSE: NIO) marked a significant milestone in May with record deliveries, despite not introducing any all-new models so far this year, except for minor facelifts. According to data released by the company, Nio delivered a record 20,544 vehicles in May, surpassing the previous high of 20,462 vehicles delivered in July 2023. See also: Nio Power Secures $207 Million Investment to Boost Infrastructure Expansion This represents a substantial increase of 233.78 percent from the 6,155 vehicles delivered in May last year, and a notable 31.52 percent rise from the 15,620 deliveries in April. Nio’s SUV lineup…

Li Auto, one of China’s major extended-range electric vehicle (EREV) manufacturers, rebounded from a dip in April to achieve a new delivery high for the year in May. The company announced that it delivered 35,020 vehicles in May, marking a 35.8 percent increase from April and a 23.85 percent increase year-on-year. While May’s deliveries represent the highest for a single month so far in 2024, they remain below the record set in December 2023, when Li Auto delivered 50,353 vehicles. The company’s cumulative deliveries since inception now stand at 774,571 vehicles. See also: Li Auto Reportedly Implements Significant Layoffs Amid Sales…

Chinese automaker XPeng has set an ambitious goal to achieve Level 4 autonomous driving in China by next year, as outlined at an AI Day event on May 20 and reiterated during an earnings call the following day. Level 4 automation, defined by the Society of Automotive Engineers, allows vehicles to drive themselves in specific locations and circumstances without human intervention. See also: Xpeng CEO Welcomes Tesla’s Full Self-Driving Tech to China XPeng is confident in reaching this milestone, citing the rapid rollout of its XNGP (Navigation Guided Pilot) driver-assistance technology, which currently operates in nearly 250 cities in China. The…

China’s electric vehicle (EV) market is booming, with sales surging and job growth accelerating, particularly in the private sector. BYD, China’s EV leader, has seen its workforce expand rapidly, adding nearly 500,000 employees since 2019 and now employing over 700,000 people. This growth has positioned BYD’s workforce roughly double that of Toyota’s, reflecting China’s dominance in the EV market. According to filings, China’s total workforce reached about 30.57 million employees by the end of 2023, a 13% increase from 2019. Private companies, particularly in the EV industry, accounted for 81% of this growth, adding 2.85 million jobs. China’s EV market…

Nio Power, the power unit of Nio, has received a significant strategic investment of RMB 1.5 billion ($207 million), marking its first external funding to support its ongoing infrastructure development efforts. The investment, led by Wuhan Guangchuang Emerging Technology Venture Capital Fund Phase I, was announced by Nio on May 31. According to Nio, the funding will be utilized to advance research and development, manufacturing, and operational capabilities in key areas such as charging, battery swapping, energy storage, battery services, and the energy internet. See also: Nio Forges Ahead with European Expansion, Opens Amsterdam Showroom Amid Tariff Uncertainty In addition to…

BYD has launched its latest plug-in hybrid technology, marking a significant advancement in fuel efficiency and cost savings. The new technology, unveiled by BYD’s chairman Wang Chuanfu, achieves a record low fuel consumption of 2.9 liters per 100 kilometers (62.1 miles) on depleted batteries. With a fully charged battery and a full gasoline tank, the fifth-generation hybrid technology offers a driving range of 2,100 kilometers, Wang announced at an event in Xian, the capital of Shaanxi province and the location of BYD’s first automaking factory. See also: BYD Leads Week-Over-Week Surge in EV Sales in China, Sets New Record BYD has…

The premium electric car brand HiPhi, part of Chinese manufacturer Human Horizons, is poised for a significant restructuring following a potential financial infusion of up to one billion US dollars. While details remain somewhat unclear, recent developments suggest a path forward for the struggling brand. A recent official announcement indicates that HiPhi may receive a capital injection from the iAuto Group, an automotive platform registered in the U.S. state of Delaware. The iAuto Group is described as “focused on enhancing the value of promising automotive firms.” This injection is expected to enable HiPhi to resume production. See also: HiPhi Reportedly…

Contemporary Amperex Technology Co Ltd (CATL) has entered into a 10-year strategic partnership agreement with Chinese electric vehicle (EV) startup Neta Auto. The agreement, signed on May 24 in Shanghai, where Neta is headquartered, was attended by key figures including Robin Zeng, chairman and CEO of CATL; Fang Yunzhou, founder and chairman of Neta; and Zhang Yong, co-founder and CEO of Neta, according to press releases from both companies. This partnership, effective from 2025 to 2034, designates CATL as Neta’s preferred partner for vehicle power batteries. CATL will supply Neta with competitive power battery products and services, solidifying their collaboration…

The Citroën ë-C3, an electric vehicle tailored for the Indian market, is encountering a lukewarm response from retail customers but gaining ground among fleet buyers, underscoring the evolving dynamics of India’s electric vehicle (EV) landscape. Manufactured locally with cost-saving modifications, the India-specific Citroën ë-C3 debuted in February 2023 but has struggled to capture the attention of individual buyers. In a bid to boost its presence, Citroën secured a deal to supply 4,000 units to BluSmart Mobility, a leading EV service provider, and has initiated delivery with an initial batch of 125 units. Following this, a similar agreement was reached with…

The anticipation for Kia’s entry into the electric pickup truck market is heating up as the first sightings of its electric pickup testing in the US have surfaced, suggesting that a rival to the Ford F-150 Lightning might be on the horizon. Kia has already announced its intention to launch an electric truck in the US as part of its broader electric vehicle (EV) strategy. During its investor day in 2022, Kia unveiled plans to introduce two electric pickup trucks: one designed specifically as an EV pickup and another strategically aimed at emerging markets. These electric trucks are key components…

China FAW Group Corporation (FAW) is set to join the Nio-led battery swap alliance, becoming the seventh member to do so, according to a report by local media outlet Cailian. The battery swap alliance, which already includes GAC Group, Changan Automobile, Geely Holding, Chery, JAC, and Lotus, will now see FAW as its newest addition. Nio’s founder, chairman, and CEO, William Li, had previously indicated that more brands were expected to join the alliance in the future. Li views the battery swap business as akin to a cloud service and has started to consider its future beyond just the premium…

Nio has officially launched its latest offering, the Onvo L60 SUV, directly targeting Tesla’s popular Model Y but at a more affordable price point. The Onvo L60, built on a 900 V high-voltage architecture, boasts higher energy efficiency, with an impressive CLTC energy efficiency of 92.3 percent and the lowest wind resistance of any production SUV at 0.229 Cd, resulting in an energy consumption of just 12.1 kWh per 100 km. The Onvo L60 is believed to be the first production vehicle based on Nio’s next-generation vehicle platform, NT 3.0, although Nio is downplaying the vehicle platform narrative. The SUV…