Lucid will sell $1.8 billion worth of shares to an affiliate of Saudi Arabia's Public Investment Fund, which owns 60.5% of the company.
Month: June 2023
BYD aims to sell at least 3 million NEVs this year.
BYD (OTCMKTS: BYDDY) saw record new energy vehicle (NEV) sales in May, putting it over the 1 million unit mark for sales in the year.
The NEV giant sold 240,220 NEVs in May, up 108.99 percent from 114,943 units a year ago and up 14.23 percent from 210,295 units in April, according to data released today.
The company discontinued production and sales of vehicles powered entirely by internal combustion engines in March last year to focus on producing plug-in hybrids and pure electric vehicles.
BYD's NEVs include passenger cars as well as commercial vehicles, with sales of 239,092 new energy passenger cars in May, up 109.39 percent from 114,183 units in the same month last year and up 14.14 percent from 209,467 units in April.
BYD's new energy commercial vehicles sold 1,128 units in May, up 48.42 percent from 760 units in the same month last year and up 36.23 percent from 828 units in April.
Among these passenger NEVs, battery electric vehicles (BEVs) sold 119,603 units, up 124.19 percent from 53,349 units a year ago and up 14.6 percent from 104,364 units in March.
Its passenger plug-in hybrid vehicles (PHEVs) were 119,489 units, up 96.42 percent from 60,834 units in the same month last year and up 13.69 percent from 105,103 units in April.
In May, BYD sold 10,203 NEVs in overseas markets, down 31.19 percent from 14,827 units in April. The company first announced overseas sales figures for NEVs in July 2022.
In addition to being China's largest NEV company, BYD is also the country's second-largest manufacturer of power batteries.
BYD's installed power and storage battery capacity in May was about 11.489 GWh, up 85.22 percent from 6.203 GWh in the same month last year and up 15.42 percent from 9.954 GWh in April.
From January to May, BYD's NEV sales exceeded the 1-million-unit mark at 1,002,591 units, up 348.11 percent from 507,314 units in the same period last year.
Its passenger NEV sales for the period were 996,476 units, up 358.15 percent from the same period last year.
BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said at an investor conference in late March.
BYD aims to become China's No. 1 automaker by the end of this year, Wang said at the time.
To achieve its goal of selling 3 million NEVs for the year, BYD would need to sell an average of about 285,000 vehicles each month for the next seven months.
Musk once laughed at BYD, but now thinks 'their cars are highly competitive'
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Voltari's latest creation, a 26-foot electric performance boat, is set to reach customer hands later this year.
Nio delivered 6,155 EVs in May: 12.37% down YoY and 7.55% down MoM.
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NIO delivered 6,155 vehicles in May, down 7.55 percent from April and down 12.37 percent year-on-year.
NIO delivered 6,155 vehicles in May, down 7.55 percent from April and down 12.37 percent year-on-year.
NIO officially launched its all-new ES6 based on the NT 2.0 platform on May 24, and the model was the fastest from launch to delivery for NIO, with deliveries starting on launch night.
On May 24, the all-new ES6 had opened for delivery in 13 regions in China on the night of its launch, NIO announced on Weibo in the early morning of May 25.
NIO will report its unaudited financial results for the first quarter on Friday, June 9, before the US markets open, at which time it is expected to release its guidance for second quarter deliveries.
Given that it has already announced deliveries in both April and May, its guidance at that time will essentially be for June deliveries.
Below is its press release, as the CnEVPost article is being updated.
NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced its May 2023 delivery results.
NIO delivered 6,155 vehicles in May 2023. The deliveries consisted of 2,396 premium smart electric SUVs, and 3,759 premium smart electric sedans. Cumulative deliveries of NIO vehicles reached 333,410 as of May 31, 2023.
On May 24, 2023, NIO launched the All-New ES6, a smart electric all-round SUV in China and started its deliveries the next day. Derived from NIO Technology 2.0 (NT2.0), the All-New ES6 offers enhanced driving and riding experiences with exquisite design, high performance, superior comfort, and advanced digital systems. The All-New ES6 caters to wide-ranging journeys of users for their family, business and leisure needs.
In addition, NIO plans to launch a new vehicle model based on NT2.0, ET5 Touring, a mid-size smart electric tourer and start its delivery to users in June 2023.
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XPeng delivered 7,506 vehicles in May, up 6.03 percent from April but down 25.87 percent year-on-year.
XPeng guided for second-quarter deliveries of 21,000 to 22,000 units when it reported first-quarter earnings on May 24.
The company will begin pre-sales of the G6 SUV, which is aim at competing with Tesla's (NASDAQ: TSLA) Model Y, on June 9.
The XPeng G6 will go on sale in June, with volume deliveries starting in July, and production capacity will climb quickly, the company's management said in a call with analysts after announcing first-quarter earnings.
The G6 will be a hot seller in China's new energy SUV market priced between 200,000 yuan ($28,150) and 300,000 yuan, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.
Below is its press release, as the CnEVPost article is being updated.
XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its vehicle delivery results for May 2023.
In May 2023, XPENG delivered 7,506 Smart EVs. The delivery volume of the P7i has experienced a substantial increase compared to the previous month. The Company will further accelerate deliveries of the P7i in June, with the goal of rapidly bringing customers this popular new model that features outstanding style and design aesthetics and distinguishing smart features.
Presale for the G6 Ultra Smart Coupe SUV begins on June 9, with display vehicles available at our stores.
In May, XPENG invited the media to test drive the G6. Feedback from media on the G6 highlights that the new model has distinct advantages over other EV models in terms of its ADAS capabilities and its 800V platform for fast charging. The Company anticipates the G6 will emerge as one of the most popular, bestselling models in China's NEV SUV market segment with the RMB200,000 to RMB300,000 price range.
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Version P2.9 also comes with upgrades for the Range Assist and Apple CarPlay features.
The 2026-bound Aehra Sedan will be fully unveiled on June 16 at the Milano Monza Motor Show.
This article is being updated, please refresh later for more content.
Li Auto's revenue exceeded RMB 10 billion ($1.4 billion) in May, the first time it has achieved that level of monthly revenue.
Li Auto provided guidance for second-quarter deliveries of 76,000 to 81,000 units when it reported first-quarter earnings on May 10.
The May deliveries announced today mean that it is expected to deliver between 22,042 and 27,042 units in June.
Li Auto's revenue exceeded RMB 10 billion ($1.4 billion) in May, the first time it has achieved that level of monthly revenue, said Li Xiang, founder, chairman, and CEO of Li Auto, adding that it lays a solid foundation for the company to surpass its revenue target of RMB 100 billion in 2023.
From January to May, Li Auto delivered 106,542 vehicles, up 124.87 percent from 47,379 vehicles in the same period last year.
By the end of May, Li Auto's cumulative deliveries since its inception were 363,876 units.
Li said on May 24 on Weibo that he set a goal for his team to reach 20,000 monthly sales of the company's five-seat SUV, Li L7, in October.
"Vendor partners, please trust us to keep up with capacity! " Li wrote.
On May 30, he said on Weibo that Li Auto's order and delivery volume exceeded 1,000 units per day for three consecutive weeks.
Li Auto's next major task is to boost supply chain availability, as the supply target set at the beginning of the year was a bit low, he said at the time.
($1 = RMB 7.1154)
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Earlier today, Bloomberg reported that the company is considering filing for its $1 billion Hong Kong IPO as soon as this month.
Neta Auto, the electric vehicle (EV) brand owned by Hozon Auto, saw deliveries rise about 18 percent last month and denied reports that it plans to make an initial public offering (IPO) in Hong Kong.
Neta delivered 13,029 vehicles in May, up 18.35 percent from 13,029 in the same month last year and up 17.59 percent from 11,080 in April, data released by the company today showed.
From January to May of this year, Neta delivered 50,285 vehicles, up 0.62 percent from 49,974 in the same period last year.
Neta was founded in October 2014 and its first model was launched in November 2018.
Its cumulative deliveries since the company's inception stand at 298,334 vehicles, data monitored by CnEVPost show.
It delivered 152,073 vehicles in 2022, an increase of 118.26 percent year-on-year.
Neta has previously been seen as a budget EV maker, as its vehicles are priced primarily to target the lower end of the market.
The company's previous main-selling models, the Neta V and Neta U, were priced in China at around RMB 100,000 ($14,090) to RMB 150,000.
The Neta S is Neta's first effort at the upper end of the market, where it sells for about RMB 300,000. On April 18, the Neta GT sports car went on sale with a starting price of RMB 178,800 to RMB 227,800.
Earlier today, Bloomberg reported that Hozon Auto is considering filing for its $1 billion Hong Kong IPO as soon as this month.
The company has included ABC International Holdings Ltd and China Merchants Bank International to the banks working on the listing, the report said.
Neta later posted a statement on Weibo denying the report, calling it untrue.
Neta saw its 300,000th production car roll off the line yesterday, 16 months after its 100,000th car rolled off the line.
Neta opened its global headquarters in Shanghai on May 29. Previously it had a Shanghai headquarters in Minhang district, a design center in Beijing and a factory in Tongxiang, Zhejiang province.
($1 = RMB 7.0984)
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