Author: Phate Zhang/CnEVPost

Categories
China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Neta Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending May 28: Li Auto 7,100, XPeng 2,100, NIO 1,600

'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, (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.

(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.

(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.

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.

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

The post China NEV insurance registrations for week ending May 28: Li Auto 7,100, XPeng 2,100, NIO 1,600 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric Elon Musk eMobility eV Tesla

China’s foreign ministry says welcome as Musk arrives in Beijing

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.

(Image credit: CnEVPost)

The Chinese Foreign Ministry expressed its welcome as (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'

The post China's foreign ministry says welcome as Musk arrives in Beijing appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
BYD BYD Indonesia China Electric eMobility eV Tesla

Indonesia’s largest taxi operator to buy 80% of its EVs from BYD

Most of the 500 EVs to be delivered to Blue Bird this year will be filled by , particularly the E6 and T3 models, an executive with the Indonesian company said.  BYDDY.US | BYD HK

(A 2018 file photo shows the BYD E6 as taxis in China. Image credit: BYD)

BYD (OTCMKTS: BYDDY) will be the main supplier of Indonesia's largest taxi operator's electric vehicle (EV)fleet, as the Chinese new energy vehicle (NEV) giant continues to expand in overseas markets.

PT Blue Bird will buy 80 percent of its EVs from BYD while reviewing its orders as lower-cost models win out in the country, Bloomberg said in a report today.

Most of the 500 EVs to be delivered to Blue Bird this year will be filled by BYD, especially the E6 and T3 models, because they are better suited to the Indonesian market, its President Director Sigit Priawan Djokosoetono said in an interview.

"If the price is too expensive, it would be unreasonable for us to then charge it to customers, so we need to consider this," he said, adding, "We use a lot of imported BYD models as the price is supportive for us to operate in Indonesia."

It is worth noting that this is not the first time BYD has supplied EVs to Blue Bird.

On April 22, 2019, Indonesia released an electric taxi trial program in which Blue Bird first introduced the BYD E6 as its all-electric taxi, according to a previous BYD press release.

BYD sold 210,295 NEVs in April, up 98.31 percent from 106,042 units in the same month last year and up 1.55 percent from 207,080 units in March, according to data released earlier this month.

The company stopped production and sales of vehicles powered entirely by internal combustion engines in March last year and switched to focus on producing plug-in hybrids and pure electric vehicles.

In April, BYD sold 14,827 NEVs in overseas markets, up 11.38 percent from 13,312 units in March.

From January to April, BYD sold 53,550 units in overseas markets, according to data monitored by CnEVPost. The company first announced its overseas sales figures for NEVs in July 2022.

On May 25, BYD signed a memorandum of understanding with Indonesia at its Shenzhen headquarters aimed at exploring the potential for investment in Indonesia, particularly in the EV sector, according to a statement from the Southeast Asian country.

"The signing of this MoU reflects the importance of future steps in realizing the ambition for electric vehicles in Indonesia. We want to develop the electric vehicle ecosystem in Indonesia to become the largest automotive market in Southeast Asia, and we appreciate BYD's initiative to further explore these opportunities," said Luhut B. Pandjaitan, Indonesia's Coordinating Minister for Maritime Affairs and Investment.

BYD delivers 22 electric buses in Indonesia

The post Indonesia's largest taxi operator to buy 80% of its EVs from BYD appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric Elon Musk eMobility eV Tesla

Tesla CEO Elon Musk expected to visit China this week, report says

Musk is expected to meet with senior Chinese officials and tour 's Shanghai factory, according to Reuters.

(Image credit: CnEVPost)

Tesla (NASDAQ: TSLA) CEO Elon Musk is expected to visit China this week, Reuters said in a report today, citing three people familiar with the matter.

Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, two of the sources said, according to the report.

It's unclear who Musk will meet with and what they will discuss, the report noted.

A Reuters report on March 31 said Musk planned to visit China as early as April and seek a meeting with Chinese Premier Li Qiang.

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 electric vehicles (EVs).

China is Tesla's second-largest market after the United States, and its Shanghai plant is the EV 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 in revenue, or 49.8 percent, to Tesla in 2022.

For the full year 2022, Tesla delivered 1,313,851 vehicles worldwide, up 40.38 percent from 935,950 in 2021.

The EV maker delivered 439,770 vehicles in China in 2022, contributing 33 percent of the year's deliveries, data monitored by CnEVPost show.

Tesla's Shanghai plant produced 727,000 units in 2022, up 49.7 percent from a year earlier, Chen Kele, deputy director of intelligent manufacturing promotion division at Shanghai Municipal Commission of Economy and Informatization, said earlier this month.

Tesla's Shanghai plant had an industrial output of 183.9 billion yuan ($26 billion) in 2022, which accounts for 23 percent of Shanghai's auto manufacturing output, driving 1.3 percentage points of local industrial output growth, Chen said.

Shanghai will further deepen cooperation with Tesla to promote the EV maker's businesses including self-driving, and robotics in Shanghai, he said at the time.

From January to April, Tesla delivered 177,385 vehicles in China, up 61.54 percent year-on-year, according to the China Passenger Car Association (CPCA).

Tesla's Shanghai plant exported 127,779 vehicles in January-April, up 72.97 percent year-on-year.

In addition to its EV business, Tesla is bringing its other major business -- energy storage -- to China.

Tesla signed a deal with Shanghai's Lingang authorities on the afternoon of April 9 to build a new Megafactory in the area, which will be dedicated to producing Tesla's energy storage product Megapack, according to a previous announcement from Lingang's special area administration.

The Megafactory will be Tesla's first energy storage system factory outside its US home market, with an initial planned annual production of up to 10,000 units of commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.

The factory is scheduled to start construction in the third quarter of this year and put into operation in the second quarter of 2024.

($1 = RMB 7.0761)

Musk once laughed at BYD, but now thinks 'their cars are highly competitive'

The post Tesla CEO Elon Musk expected to visit China this week, report says appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
Battery Swap China Electric eMobility eV Nio NIO Plant

NIO opens new plant in Hefei to produce swap stations

is aiming to add 1,000 battery swap stations this year, and to make up for the lack of capacity, it decided to build a new plant in Hefei to produce them, an executive said.

(NIO Power senior vice president Shen Fei talks to the media in Shanghai in March 2023. Image credit: CnEVPost)

NIO (NYSE: NIO) has added a new factory to produce battery swap stations to support its aggressive plan to add 1,000 battery swap stations this year, which it announced three months ago.

A new battery swap station was shipped from the Hefei, Anhui plant on Friday evening, and the station was installed in Xiamen, Fujian this morning, according to NIO Power senior vice president Shen Fei.

Shen revealed the development today on Weibo, which is the first time we've seen content about NIO's new battery swap station factory in Hefei, home to two of NIO's vehicle assembly plants.

NIO decided to add 1,000 battery swap stations this year after the Chinese New Year, and to make up for the lack of capacity, the company decided to build a factory in Hefei to produce these facilities, Shen said.

It took three months from the time that decision was made to the time the first battery swap station was shipped from the plant, according to Shen.

Shen did not provide more details, but the progress appears to have been made with the help of NIO's battery swap station supplier.

Shenzhen-traded Shandong Weida Machinery, which has been supplying battery swap stations to NIO, said on March 29 that its Kunshan, Jiangsu-based subsidiary Swap had developed and delivered the third-generation battery swap stations for NIO.

Swap will continue to develop, produce and supply according to NIO's actual demand and orders in the future, Weida said at the time on an investor interactive platform.

Swap is a joint venture established in 2017 by NIO Power and Weida's industrial robotics subsidiary Demac, dedicated to the design, development, production and manufacturing of automatic battery swap systems, according to information on its official website.

It is unclear how many factories Swap has in China to produce battery swap stations for NIO, which has a factory in Hungary to produce the facility that went into operation in September 2022.

The third generation of NIO's battery swap stations was unveiled at the NIO Day 2022 event on December 24, 2022, capable of storing up to 21 packs, up from 13 for its predecessor generation and five for the first generation of the facility.

NIO announced plans at the time to add 400 battery swap stations by 2023, though that plan was raised to 1,000 on February 21.

William Li, NIO's founder, chairman and CEO, said at the time that the company would further accelerate the deployment of battery swap stations, with a goal of having more than 2,300 battery swap stations in China by the end of 2023.

Speaking at a press conference on the first day of the Shanghai auto show on April 18, Li said that NIO would add about 200 battery swap stations per month starting in June.

As of May 29, NIO had 1,432 battery swap stations in China, 383 of which are located along highways, according to data monitored by CnEVData.

The company also has 2,624 charging stations in China, providing 15,591 charging piles.

NIO swap station tracker

The post NIO opens new plant in Hefei to produce swap stations appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV MPV XPeng XPeng X9

XPeng CEO teases MPV model called X9

will open up the MPV market to a younger demographic with the X9, said He Xiaopeng, chairman and CEO of the EV maker.

XPeng (NYSE: XPEV) is starting to warm up for the company's first MPV (multi-purpose vehicle) model, after previously mentioning plans to build such a model.

In addition to the G6, XPeng has recently been building a new MPV, the X9, the Chinese electric vehicle (EV) maker's chairman and CEO He Xiaopeng said today on Weibo.

"We will open up the MPV market for the younger demographic with this product," Mr. He said.

Mr. He's Weibo didn't mention anything more, but was accompanied by a picture showing the logo of the MPV's name.

XPeng had mentioned last year that the company would launch its first MPV in 2023, and provided more details during its earnings call on May 24.

XPeng will launch a 7-seat all-electric MPV, internally codenamed X9, in the fourth quarter of this year, the company's management said in the call.

Mr. He's Weibo today implies that the model is being finally named X9.

XPeng is defining the 7-seat MPV thinking about how young people associate with MPVs and will go into more detail about the logic of young people buying MPVs at its launch at the end of the year, the company said.

In the second half of the year, gross margin levels will steadily improve with deliveries of the G6, P7i and the MPV, the company said in the Wednesday call.

There are few good MPVs to choose from in the Chinese market before 2022, with the most well-known being the Buick GL8 and the Toyota Alphard. There are even fewer new-energy MPVs.

Dongfeng Motor's EV subsidiary Voyah launched its MPV model Voyah Dreamer in China on May 7, 2022.

's premium brand Denza launched its D9 MPV on May 16, 2022, and launched its Zeekr 009 MPV on November 2.

(NASDAQ: LI) is also expected to roll out its first MPV by the end of the year, though (NYSE: NIO) has stressed several times that it has no plans to build such a model in the near future.

It's worth noting that the MPV market has been a niche segment in China.

Retail sales of passenger cars in China in April were 1,623,568 units, with 779,511 sedans, 748,503 SUVs and 95,554 MPVs, according to the China Passenger Car Association (CPCA).

This means that MPVs contributed only 5.9 percent of China's passenger car sales in April.

China Apr auto sales breakdown: Sedan 779,511, SUV 748,503, MPV 95,554

The post XPeng CEO teases MPV model called X9 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
Baojun Yep China Electric eMobility eV Industry News Product Launch Saic-gm-wuling Tesla

SAIC-GM-Wuling launches new mini EV Yep, prices start at $11,290

The Baojun Yep is available in two versions, with the pricier one equipped with a smart driving system developed by SAIC-GM-Wuling with drone maker DJI.

(Image credit: SAIC-GM-Wuling)

SAIC-GM-Wuling today officially launched its new electric vehicle (EV), the Yep, the latest addition to its line of mini EVs.

The Yep is available under SAIC-GM-Wuling's Baojun brand in two versions, starting at RMB 79,800 ($11,290) and RMB 89,800 respectively.

The Baojun Yep looks somewhat similar to the Suzuki Jimny, and SAIC-GM-Wuling said the model uses the Square Box design language to target the needs of younger customers.

The length, width and height of the Baojun Yep are 3,381 mm, 1,685 mm and 1,721 mm respectively, with a wheelbase of 2,110 mm.

For comparison, the Hongguang Mini EV, another SAIC-GM-Wuling model, measures 3,059 mm in length, 1,521 mm in width and 1,614 mm in height, with a wheelbase of 2,010 mm.

The Baojun Yep is powered by a permanent magnet synchronous motor with a peak power of 50 kW and a peak torque of 140 Nm.

The model has a battery pack capacity of 28.1 kWh and a CLTC range of 303 km.

It supports fast charging and can go from 30 percent to 80 percent in 35 minutes.

The Baojun Yep with a starting price of RMB 89,800 is equipped with the Lingxi intelligent driving system announced in August 2022 by SAIC-GM-Wuling and DJI Automotive, the automotive division of drone manufacturer DJI.

The system is based on SAIC-GM-Wuling's "Emotion Engine" concept, which focuses on urban mobility scenarios, SAIC-GM-Wuling previously said.

The Lingxi intelligent driving system takes advantage of DJI's technological strengths in the field of binocular cameras and is based on the latter's algorithms in the field of vision perception and experience in vision perception systems for drones.

SAIC-GM-Wuling's 2023 Baojun KiWi EV is the first model to use the system.

Equipped with the Lingxi system, the Baojun Yep allows users to turn on intelligent driving with a single click, enabling functions including obstacle recognition and response, and intelligent speed regulation in curves.

The model is also equipped with smart parking assist, which enables full-scene automatic parking.

Baojun previewed the model on May 9, when it also shared images and a video of the two-door pickup version of the Yep.

SAIC-GM-Wuling is a joint venture between SAIC Group, General Motors and Liuzhou Wuling Automobile, headquartered in Liuzhou, Guangxi Zhuang Autonomous Region in southwestern China.

It sells vehicles based on the GSEV (Global Small Electric Vehicle) architecture in China, including the Mini EV, KiWi EV, Nano EV, and Air EV. In addition to these pure electric models, SAIC-GM-Wuling also sells fuel-powered SUVs, MPVs, and vans.

In the small EV segment, in addition to the hot-selling Mini EV, SAIC-GM-Wuling launched the mini EV Air EV in China last December and the Binguo EV at the end of March this year.

Notably, SAIC-GM-Wuling has seen a decline in NEV sales so far this year, while other major NEV makers in China have seen sales growth.

In January-April, SAIC-GM-Wuling's NEV retail sales were 111,604 units, down 15.9 percent from 132,658 units in the same period last year, according to data from the China Passenger Car Association (CPCA).

As a comparison, saw sales increase 81.3 percent year-on-year to 702,608 units and China grew 61.5 percent year-on-year to 177,385 units during this period.

In an effort to boost sales growth, SAIC-GM-Wuling began allowing consumers to pay only for the body and rent the battery when purchasing the Mini EV on May 11, lowering the purchase threshold to RMB 19,800.

On May 22, SAIC-GM-Wuling announced a price cut of up to RMB 13,000 for the Hongguang Mini EV family, saying the move was in response to China's call to promote NEV consumption in rural areas.

($1 = RMB 7.0692)

Wuling cuts prices on its mini EVs by up to $1,850

The post SAIC-GM-Wuling launches new mini EV Yep, prices start at $11,290 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Li Auto Nio NIO ES6

NIO’s local peers react to launch of new ES6

The launch of the new ES6 has triggered rare reactions from several of 's local counterparts, highlighting the fierce competition in China's EV market.

(Image credit: CnEVPost)

New model launches by local automakers rarely trigger reactions from their peers, and the new NIO ES6 is apparently one of those rare ones.

NIO officially launched the new ES6 in China last night, with its event starting at 7 pm and ending around 8:10 pm after announcing the price.

About a half hour after the event, Li Xiang, founder, chairman and CEO of (NASDAQ: LI), said on Weibo that he had set a small goal in advance for his team to reach 20,000 monthly sales of the company's five-seat SUV, the Li L7, in October.

"Supplier partners, please trust us to keep up with capacity! " Li wrote at 8:40 pm yesterday.

Although Li did not mention NIO, he seemed to be reacting to the launch of the ES6, as the two models are seen as competitors in China, even though the ES6 is purely electric and the Li L7 is an extended-range electric vehicle (EREV) that can be refueled.

In contrast to that Li Auto CEO's hint, an executive from HiPhi, another local car company, commented directly on the launch of the new ES6.

"Congratulations to NIO on the launch of the new ES6! Also sharing some information with those who follow HiPhi," HiPhi's brand and communications manager Xu Bin said on Weibo at 8:52 pm yesterday.

HiPhi is in the process of finalizing the pricing for the HiPhi Y series, with the 560 km range version expected to be set at a starting price of RMB 369,000 ($52,220), he said.

The HiPhi Y is HiPhi's third model and will be the brand's cheapest all-electric vehicle, with Xu revealing a price just RMB 1,000 higher than the starting price of the NIO ES6.

"HiPhi Y will open for delivery in July this year. If you are in a hurry to buy a car, you can go test drive the ES6, and if you are not in a hurry, you can wait for HiPhi Y," he wrote.

Compared to the comments of the two above, the words of a SAIC-GM-Wuling executive were more friendly, probably because the company is not in direct competition with NIO.

"Another new car went on sale this evening, the model costs more than RMB 300,000 and no one says it's expensive," Zhou Jinkai, deputy general manager of SAIC-GM-Wuling's brand department, wrote on Weibo at 11:38 pm last night.

"It seems we still have to build up the brand, the product, the technology, all around," he said.

SAIC-GM-Wuling will launch a new mini EV model, the Baojun Yep, later today.

($1 = RMB 7.0663)

NIO officially launches new ES6, potentially lifting key factor holding back sales

The post NIO's local peers react to launch of new ES6 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Deliveries Electric eMobility eV Nio NIO ES6

NIO starts delivery of new ES6 on night of launch day

Deliveries of the new ES6 began in 13 regions on the night of its launch on May 24, although officially announced that deliveries would begin on May 25.

(Image credit: NIO)

NIO (NYSE: NIO) previously said that deliveries of the new ES6 would begin the next day after its launch. But as it turned out, the new SUV was delivered to its first owners on the same night it went on sale.

Deliveries of the new ES6 started in 13 regions of China the night of its launch on May 24, NIO announced on Weibo early this morning.

The electric vehicle (EV) maker shared several images showing some of the scenes from the model's first deliveries on the night of May 24.

NIO officially launched the new ES6 during an event that began at 7 pm Beijing time on May 24, and pricing information for the model was only announced near the end of the event at around 8 pm.

The new ES6 is available in only one version, unlike the three previously offered versions of the first-generation ES6.

Including the battery, the new ES6 with the 75-kWh standard range battery pack starts at RMB 368,000 ($52,220), and for the 100-kWh version, the starting price will be RMB 426,000.

If consumers choose to purchase the car using NIO's BaaS (battery as a service) program, the new ES6 starts at RMB 298,000, with monthly rental fees of RMB 980 for the 75-kWh pack and RMB 1,680 for the 100-kWh.

For owners who get delivery of the new ES6 on the day of launch, they may be big fans of NIO and are not price sensitive, and getting delivery as early as possible is what they would prefer.

NIO has already begun production of the new ES6 based on designer-recommended configuration combinations, and deliveries would begin on May 25 for consumers who purchase these vehicles, a post on the NIO App said yesterday.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June, it said.

($1 = RMB 7.0473)

NIO officially launches new ES6, potentially lifting key factor holding back sales

The post NIO starts delivery of new ES6 on night of launch day appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Nio NIO ES6 Product Launch

NIO officially launches new ES6, potentially lifting key factor holding back sales

has produced a batch of the new ES6 and deliveries will begin on May 25. Deliveries of customized vehicles will begin in mid-June.

(Image credit: CnEVPost)

NIO (NYSE: NIO) today officially launched the new ES6 in China, potentially lifting a key factor that has held back its sales over the past few months.

The electric vehicle maker is allowing consumers to lock in orders for the new ES6 starting today, and those interested can make appointments to test drive the model today, with first deliveries set to begin tomorrow.

Like NIO's other models based on the latest NT 2.0 platform, the new ES6 features strong power and assisted driving hardware. As NIO's least expensive SUV, the new ES6 has competitive pricing.

Including the battery, the new ES6 with a 75-kWh standard range battery pack starts at RMB 368,000 ($52,220), and for the 100-kWh version, it starts at RMB 426,000.

If consumers choose to purchase the car using NIO's BaaS (battery as a service) program, then the new ES6 starts at RMB 298,000, with a monthly rental fee of RMB 980 for the 75-kWh pack and RMB 1,680 for the 100-kWh.

Notably, that price is at the low end of the price range in a questionnaire NIO sent to some NIO App users on May 11 to solicit pricing opinions for the new ES6.

Its previous action was more like an intentional expectation management move so that potential consumers would not be disappointed with the final pricing.

Many other local automakers have similar strategies, such as (OTCMKTS: BYDDY), which typically announces pre-sale prices for new models and then announces lower final prices.

The new ES6 is also less expensive than the first generation of the model based on the NT 1.0 platform, which was previously offered in three versions with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

NIO has begun production of the new ES6 based on the designer's recommended configuration combinations, and deliveries will begin on May 25 for consumers who purchase these vehicles, a post on the NIO App today said.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries for these vehicles will begin in mid-June.

The new ES6 can accelerate from 0 to 100 km/h in 4.5 seconds under half-load conditions, with a distance of 34.5 meters from 100 km/h to the brake.

The new ES6 has a range of 490 km with the 75-kWh standard range battery pack and 625 km with the 100-kWh pack.

NIO's 150-kWh semi-solid-state battery pack, which will be put into use in July, will give the new ES6 a range of 930 km, according to William Li, the company's founder, chairman and CEO.

NIO is scaling back the benefits it offers consumers, announcing on April 10 that from June 1, consumers who purchase the NIO ET7, EC7, ES7 and ET5 will no longer continue to receive free home chargers, and the free battery swap benefit will be adjusted to four per month.

NIO has been providing consumers with free home chargers and four free battery swaps per month for the past several years. If consumers choose to forgo the free home charger, they will receive 6 free battery swaps per month under its current policy.

For the new ES6 and the new ES8, these benefit changes will begin on August 1.

For NIO, the new ES6 is crucial, as it is the least expensive of NIO's SUVs and has been its main seller for the past several years.

NIO launched the first-generation ES6 in December 2018 and began delivering the model in China in June 2019.

In 2019, NIO delivered 20,565 vehicles, including 9,132 ES8s and 11,433 ES6s, with the ES6 contributing 55.59 percent, according to data monitored by CnEVPost.

In 2020, the company delivered 43,728 vehicles, including 10,861 ES8s, 27,945 ES6s and 4,922 EC6s, with a 63.9 percent contribution from the ES6.

In 2021, NIO delivered 91,429 vehicles, including 20,050 ES8s, 41,474 ES6s and 29,905 EC6s, with a 45.36 percent contribution from the ES6.

Available data for 2022 show that from January to August, 32,877 units of ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units during this period.

Potential consumers' wait for the new ES6 over the past few months may have been a critical factor in dampening NIO's sales, causing its April deliveries to fall to 6,658 units.

In the first three weeks of the month, NIO vehicles registered just 3,700 insurance units in China, data monitored by CnEVPost shows.

($1 = RMB 7.0473)

New NIO ES6 launch: Live updates

The post NIO officially launches new ES6, potentially lifting key factor holding back sales appeared first on CnEVPost.

For more articles, please visit CnEVPost.