There's no word about Toyota's production plans, though.
Month: May 2023
Despite the attacks on ESG investing, Hyundai roars into Georgia with another new fossil-killing electric vehicle battery manufacturing plant.
Tesla opposes decoupling and is willing to continue to expand its business in China and share in China's development opportunities, Musk said.
Tesla (NASDAQ: TSLA) CEO Elon Musk began his meetings with Chinese officials upon his arrival in Beijing.
On May 30, Chinese State Councilor and Foreign Minister Qin Gang met with Musk in Beijing, according to a statement on the Chinese Foreign Ministry website.
Chinese-style modernization will create unprecedented growth potential and market demand, and China's new energy vehicle (NEV) industry has a promising future, Qin said.
China will continue to unswervingly promote a high level of opening up to the outside world and is committed to creating a better market-oriented, rule-of-law and international business environment for enterprises from all countries, including Tesla, he said.
China's development is an opportunity for the world, and a healthy, stable and constructive US-China relationship will benefit both China and the United States, as well as the world, Qin said.
To develop Sino-US relations well, it is necessary to hold the steering wheel and move forward in the right direction of mutual respect, peaceful coexistence and win-win cooperation as proposed by President Xi Jinping, he said, using the analogy of Tesla's car.
The United States and China need to "apply the brakes" in time to avoid "dangerous driving"; good at "stepping on the accelerator pedal" to promote mutually beneficial cooperation, Qin said.
The Chinese people are hardworking and wise, and China's development achievements are well deserved, Musk said, according to the statement.
The interests of the United States and China are intertwined, like Siamese twins inseparable from each other, Musk said.
Tesla is opposed to decoupling and the disconnection of the supply chain and is willing to continue to expand its business in China and share the opportunities of China's development, Musk said.
The statement provided no further content. Qin previously knew Musk when he was China's ambassador to the United States.
On March 4, 2022, Qin tweeted that he had an inspiring conversation with Musk about cars on the road, stars in the sky, research on the human brain, the meaning of life on Earth and our future into space.
Last August, Qin congratulated Tesla's Shanghai plant for seeing its one millionth production vehicle roll off the line, citing it as a model for US-China cooperation.
"In less than 3 years, from 0 to 1,000,000. This is a marvelous achievement," Qin said in a retweet of Musk's tweet on August 16, 2022.
China's foreign ministry says welcome as Musk arrives in Beijing
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NIO has produced some new ES6 vehicles based on designer-recommended configuration combinations, and deliveries of customized vehicles will begin in mid-June.
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NIO's (NYSE: NIO) mobile app has stopped showing the wait time for the new ES6, which previously showed an expected delivery date in May.
The electric vehicle maker officially launched the new ES6 in China on May 24, when it announced a starting price of RMB 368,000 ($51,920) including batteries.
Deliveries of the new ES6 started in 13 regions of China on the night of the launch on May 24, NIO announced on Weibo in the early morning hours of May 25.
This is NIO's fastest model from launch to delivery as it has changed its strategy to produce some vehicles earlier for quicker delivery.
NIO began production of the new ES6 based on designer-recommended configuration configurations, and if consumers purchase these vehicles, deliveries would officially begin on May 25, according to a May 24 post on the NIO App.
Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June.
Notably, NIO appears to still be in the process of ramping up capacity for the new ES6, and deliveries of the model appeared to be limited last week.
NIO vehicles had 1,600 insurance registrations last week, according to figures shared by its local peer Li Auto today.
This means that NIO's cumulative sales for the month through last week were about 5,300 units. NIO's numbers for the first three weeks of May were 1,100, 1,200 and 1,400 units, respectively.
Expected delivery dates for NIO's other models remain unchanged today, with the new ES8 set to begin delivery in June, the ES7 with a wait time of about 4 weeks, the EC7 with 5-7 weeks, the ET7 with about 3 weeks and the ET5 with 2-3 weeks.
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(Screenshots on May 30.)
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NIO's cumulative sales so far this month were around 5,300 units, with the company launching and starting deliveries of the new ES6 on May 24.
For the week of May 22 to May 28, Li Auto (NASDAQ: LI) sold 7,100 vehicles, continuing to lead among China's new car brands, the company said today on Weibo.
Li Auto didn't explain what that sales volume was based on, but apparently, they were insurance registrations. The company had suspended sharing those numbers earlier this month, but has now resumed sharing them.
Last week's numbers mean that Li Auto sold 25,413 vehicles from May 1 to May 28. In the first three weeks of May, Li Auto's numbers were 4,543, 6,670 and 7,100 vehicles.
Li Auto is currently untroubled by the product switch, and its founder, chairman and CEO Li Xiang said on Weibo on May 24 that the company's five-seat SUV, Li L7, is expected to reach 20,000 monthly sales in October.
All of Li Auto's models currently on sale are extended-range electric vehicles (EREVs), with the other two models being the six-seat Li L9 and Li L8.
NIO (NYSE: NIO) sold 1,600 units last week, according to figures shared by Li Auto.
This means that NIO's cumulative sales for the month through last week were about 5,300 units. NIO's numbers for the first three weeks of May were 1,100, 1,200 and 1,400 units, respectively.
NIO officially launched the new ES6 on May 24, after the wait for the model by potential consumers seemed to have been holding down its sales.
Deliveries of the new ES6 began on the evening of May 24, although the vehicles were produced by NIO in advance rather than customized by consumers to their liking.
NIO began production of the new ES6 based on designer-recommended configuration combinations, and if consumers purchase these vehicles, official deliveries will begin on May 25, according to a May 24 post on the NIO App.
Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June.
XPeng (NYSE: XPEV) vehicles sold 2,100 units last week, up from 1,500 units the week before. The numbers were 870 and 1,500 in the first two weeks of May, respectively.
Since May 1, XPeng vehicles have sold 5,970 units this month.
Tesla (NASDAQ: TSLA) sold 12,800 units in China last week, up from 10,200 the week before, according to figures shared by Li Auto.
That figure for Tesla was 5,928 and 9,990 in the first two weeks of May and 38,918 cumulatively so far this month.
Zeekr was at 1,900 last week, down from 2,000 the week before and up from 1,500 in the second week of May. Its numbers for the first week of May are not available.
Neta sold 2,100 units last week, up from 1,500 the week before. That figure was 1,000 and 1,700 units in the first two weeks of May, for a cumulative total of 6,300 units so far this month.
Leapmotor sold 3,600 units last week, up from 3,000 the week before. That figure was 2,200 and 2,500 units in the first two weeks of May, and 11,300 units so far this month.
China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400
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To qualify for the offer, Texas buyers must order and take delivery of a new Model 3 before June 30 and sign up with Tesla Electric.
Li Auto flat, Nio 13% up, Xpeng 40% up.
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China has always been welcoming visits by business people from various countries, including Mr. Musk, to better understand China and promote mutually beneficial cooperation, the Chinese Foreign Ministry said.
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The Chinese Foreign Ministry expressed its welcome as Tesla (NASDAQ: TSLA) CEO Elon Musk has just arrived in China.
China has always been welcoming visits by business people from various countries, including Mr. Musk, to better understand China and promote mutually beneficial cooperation, Chinese Foreign Ministry spokeswoman Mao Ning said at a regular press briefing held today.
China is firmly pushing forward a high level of opening up to the outside world and is committed to creating a market-oriented, rule of law and international business environment, Mao said.
China is happy to see foreign companies invest and set up businesses in China, deepen their involvement in the Chinese market and share development opportunities, she said.
Earlier today, a Reuters witness said a private jet used by Musk had arrived in Beijing.
Musk's private jet, a 2015 Gulfstream G650ER, was shown leaving Alaska on Tuesday morning Asian time and then crossing over Japan and South Korea, the report noted.
The witnesses for Reuters said the plane with its identifying tail number could be seen at Beijing Capital International Airport on Tuesday.
Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory in what is his first trip to China in three years.
The Tesla CEO last visited China in January 2020, when he showed off a dance during the delivery of Tesla's first China-made Model 3 vehicles.
China is Tesla's second-largest market after the United States, and its Shanghai plant is the electric vehicle maker's largest production center, producing the Model 3 sedan as well as the Model Y crossover.
For all of 2022, the Chinese market contributed $18.1 billion in revenue to Tesla, or 22 percent of its $81.5 billion in total revenue, according to its 10-K filing with the SEC on January 31.
The US market contributed $40.6 billion, or 49.8 percent, of Tesla's revenue in 2022.
Musk once laughed at BYD, but now thinks 'their cars are highly competitive'
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The traditional steering wheel was hiding in plain sight in one of Tesla’s latest videos.
Evergrande NEV will accelerate production and deliveries of the Hengchi 5 and advance the development and production of subsequent models, an executive said.
The plant of Evergrande New Energy Vehicle Group (Evergrande NEV), the electric vehicle unit of China's Evergrande Group, has resumed production after a month-long hiatus.
Evergrande NEV's Hengchi Auto plant in Tianjin resumed full production on May 23, according to an article posted by Hengchi on its official WeChat account today.
Officials from Tianjin Binhai New Area visited the plant on May 29, where production lines are running normally and thousands of workers are working, Hengchi said.
Hengchi president Liu Yongzhuo said the company will speed up the production and delivery of Hengchi 5 and push forward the development and production of subsequent models.
Here is a video accompanying Hengchi's article.
Hengchi's Tianjin plant had previously suspended production for a month because of financial difficulties.
On March 23, Evergrande NEV said in a Hong Kong Stock Exchange announcement that it had continued its cost-saving initiatives to focus its financial resources on supporting mass production of the Hengchi 5, with job cuts at its Swedish subsidiary National Electric Vehicle Sweden AB.
However, Evergrande NEV will be at risk of shutting down production if it is unable to secure additional liquidity, the announcement said.
In a new HKEX announcement on April 24, Evergrande NEV said it had already delivered more than 900 Hengchi 5 units to consumers, but would suspend production of the model at its Tianjin plant due to a lack of funds.
The group plans to resume production of the model in May, the announcement added.
The Hengchi 5 is the first model of Hengchi Auto to be mass-produced, and it started deliveries on October 29, 2022.
The model is currently available in only one version with a starting price of RMB 179,000 ($25,240).
Trading of Evergrande NEV's shares traded in Hong Kong has been suspended since April 1, 2022, and a date for restarting trading has not yet been set.
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Evergrande NEV puts Hengchi 5 production on hold due to lack of funds
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