Li Auto was doing only EREVs previously (range extended vehicles).
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Category: Li Auto
By 2025, Li Auto's product portfolio will include a super flagship model, five EREVs and five BEVs. | Li Auto US Li Auto HK
(Image credit: CnEVPost)
Li Auto (NASDAQ: LI) today officially unveiled its all-electric solution, following the success of its extended-range electric vehicles (EREVs) in China.
The company's all-electric solution, based on the 800 V high-voltage platform, enables a battery electric vehicle (BEV) to get 400 kilometers of range on a 10-minute charge, it announced today at an event on the first day of the Shanghai auto show.
With the launch of this solution, Li Auto will officially enter a phase of parallel development of its EREV and BEV product lines.
By 2025, Li Auto's product array will include one super flagship model, five EREVs, and five BEVs, it said.
By then, Li Auto's models for the market priced above RMB 200,000 will fully meet the needs of family users, the company said.
Li Auto's first all-electric model will be the world's first to feature CATL's 4C Qilin Battery, it said today.
C refers to the battery's charge multiplier, and 4C means that the battery pack can theoretically be fully charged in one-fourth of an hour.
CATL officially launched the Qilin Battery, or CTP (cell to pack) 3.0 battery, on June 23 last year, claiming to bring a new level of battery system integration to a new level.
The Zeekr 009 is the world's first Qilin Battery-equipped MPV, and deliveries of the MPV equipped with this battery began yesterday. Li Auto previously said that its first BEV will also be an MPV.
The core technology of Li Auto's 800V solution is a high-voltage electric drive system based on third-generation power semiconductors, and the 4C supercharger pile will reach a maximum output of 480 kW.
By the end of May, Li Auto's first 25 supercharging stations will open for trial operation and be available to all electric vehicle owners, it announced today.
(Image credit: CnEVPost)
Each station will be equipped with three regular fast-charging piles and one 4C super-fast charging pile, it said.
By the end of this year, Li Auto will have completed the construction of more than 300 supercharging stations located along highways, it said.
By 2025, Li Auto will have 3,000 supercharging stations covering 90 percent of China's highway miles and major cities, the company said.
In addition to announcing the all-electric solution, Li Auto today also unveiled its latest-generation assisted driving system, AD Max 3.0, and said the software will be free for life.
Li Auto's current assisted driving systems include AD Max and AD Pro.
AD Max 2.0 is powered by NVIDIA's Orin X chip and Hesai's LiDAR, while AD Pro 2.0 is powered by Horizon Robotics' Journey 5 chip.
AD Max 3.0's all-scenario Navigation on ADAS (NOA) will kick off internal testing this quarter and will cover more than 100 cities by the end of the year, Li Auto said.
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While auto shows have generally started to lose some significance as automakers turn to dedicated launch events, this year's Shanghai auto show could be an exception, said Deutsche Bank analyst Edison Yu's team.
(A file photo taken by CnEVPost at the Shanghai auto show two years ago shows an ET7 wrapped in a blanket.)
The Shanghai auto show will begin in less than 10 hours, and it will be interesting to know what analysts expect from the event.
"While auto shows have generally started to lose some significance as OEMs shifted to dedicated launch events, this year's Shanghai Auto Show (starts officially tomorrow) could be an exception," Deutsche Bank analyst Edison Yu's team said in a research note sent to investors today.
Most notably, this will be the first auto show since Covid reopened, bringing together many executives and industry observers from overseas for the first time in years, the team said.
Product cycles for electric vehicles are significantly faster compared to internal combustion engine vehicles, as automakers struggle to maintain customer attention and loyalty, meaning many of the vehicles unveiled at the show will begin delivery in short order, the team noted.
NIO (NYSE: NIO), XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) all have new announcements coming this week, with NIO set to officially unveil its new ES6, historically its best-selling SUV, Yu's team wrote.
NIO's sales have been sluggish in recent months due to customer expectations of a platform changeover, so the new ES6 will be a very important product, with deliveries likely to begin in June, the team said.
In addition to the new ES6, NIO will also unveil the new ET7 at the Shanghai auto show, the flagship sedan whose sales in the past few months have been well below its performance in the second half of last year.
The updated version of the NIO ET7 will feature some improvements to its interior and deliveries are expected to begin in a few months, Yu's team said.
For XPeng, it will unveil its G6 SUV at the show, which Yu's team believes is the most important model for the company's ambition to reignite volume growth.
"Pricing details will likely not be finalized though as management gauges the initial consumer response. Deliveries are set to begin in June," the team wrote.
Li Auto will launch its dual-energy strategy by unveiling its all-electric solution tomorrow.
The company's first BEV will be a premium MPV and production is expected to begin by the end of this year, Yu's team noted.
Li Auto management recently said it plans to spend RMB 10 billion yuan to build 3,000 supercharging stations by 2025, and further details of this roadmap are to be expected, the team said.
In addition to these three Chinese upstarts, traditional Chinese OEMs have been very active over the past year, the team said.
So far, GAC and Zeekr have been the most consistent in terms of volume, according to the team.
Zeekr plans to bring the recently launched Zeekr X compact SUV to Europe along with the Zeekr 001 shooting brake model, and more details on the European strategy will be provided this week.
Also, BYD has been quite active, showing off its new Yangwang U9 electric supercar with the new DiSus-X body control system last week.
This week, BYD will unveil the Song L BEV and also begin taking pre-orders for the U8, a premium off-road SUV.
" The company is clearly trying to move upmarket by establishing bold 'halo' vehicles for its new brand," Yu's team wrote.
BYD also announced that the Dolphin and Seal BEVs will be available in Europe later this year. Both models will be smaller and cheaper and should compete more effectively in the low end of mass market, the team said.
In addition to local Chinese carmakers, global OEMs are also showing off new products, and upcoming new models will include the Polestar 4, Smart #3, Lexus LM and Maybach SUV BEV, the team noted.
Shanghai auto show: Full schedule of 150 press conferences for exhibitors
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NIO will hold 2 press conferences on April 18 from 10:00-10:20 and on April 19 from 14:00-14:30.
As the first major auto show after the Covid opening in China, the Shanghai auto show, which will start next week, is highly anticipated, with more than 100 press conferences by car companies and supply chain players on media days.
The show will be held at the National Exhibition and Convention Center from April 18-27, with media days from April 18-19 and professional visitor days from April 20-21, while the general public can enter from April 22-27.
From April 18 to April 19, car companies and other exhibitors will hold 150 press conferences, according to information released yesterday by Shanghai auto show organizers.
NIO (NYSE: NIO), whose booth is 6A01 in Hall 6.1, will hold one press conference on April 18 from 10:00-10:20 and one on April 19 from 14:00-14:30, according to the information, which has not been officially announced by NIO.
XPeng (NYSE: XPEV), whose booth is 6A08 in Hall 6.1, will hold its press event on April 18 from 09:40-10:00.
XPeng announced yesterday that it will debut its next production model on the morning of April 18, with a live broadcast to air from 09:40 - 10:00 am Beijing time.
XPeng didn't mention the model's name, but it's apparently the G6, an SUV that will compete with the Tesla Model Y.
Li Auto (NASDAQ: LI), whose booth is 6A04, also located in Hall 6.1, will hold a press event on April 18 from 09:20 - 09:40.
BYD (OTCMKTS: BYDDY) will be at booth 7A06 in Hall 7.1, and will hold a presentation on April 18 from 10:20-10:40.
BYD's high-end Yangwang brand's booth is 8A05 in Hall 8.1, and it will hold its event on April 18 from 09:40-10:00.
Zeekr's booth is 6A07, located in Hall 6.1, and it will hold a presentation on April 18 from 10:40-11:00.
Neta's booth is 6A11, located in Hall 6.1, and it will launch on April 18 from 11:20-11:40.
The auto show attracted more than 1,000 companies with a total exhibition area of over 360,000 square meters.
Thirteen indoor halls of the National Exhibition and Convention Center were used, including nine passenger car halls -- 3H, 4.1H, 5.1H, 6.1H, 6.2H, 7.1H, 7.2H, 8.1H and 8.2H.
Automotive technology and supply chain companies are in 3 halls -- 1.2H, 2.1H , 2.2H. 5.2H is the media area.
Below table is the schedule of all 150 conferences compiled by CnEVPost based on the information provided by the organizers of Auto Shanghai 2023.
Shanghai auto show exhibitors' press conference schedule
| Hall | Exhibitor | Booth | Date | Time |
|---|---|---|---|---|
| Hall 1.2 | Antolin | 1BC010 | 18-Apr | 15:00-15:30 |
| Hall 1.2 | Changan | 1BC013 | 18-Apr | 14:00-14:30 |
| Hall 1.2 | Mingxin Automotive | 1BC016 | 19-Apr | 14:00-14:20 |
| Hall 1.2 | Baosteel | 1BF003 | 19-Apr | 9:30-10:00 |
| Hall 1.2 | Forvia | 1BF005 | 19-Apr | 10:00-10:30 |
| Hall 1.2 | ZF | 1BF006 | 18-Apr | 13:00-13:30 |
| Hall 1.2 | Midea Welling | 1BF019 | 19-Apr | 10:00-10:30 |
| Hall 1.2 | Sunwoda | 1BH002 | 18-Apr | 15:00-15:30 |
| Hall 1.2 | Sunwoda | 1BH002 | 20-Apr | 15:00-15:30 |
| Hall 1.2 | ElringKlinger | 1BH008 | 19-Apr | 14:00-14:30 |
| Hall 2.1 | Didi Autonomous Driving | 2AC008 | 18-Apr | 10:00-11:00 |
| Hall 2.1 | Global Technology | 2AF008 | 20-Apr | 9:00-12:00 |
| Hall 2.1 | Bynav Technology | 2AH002 | 20-Apr | 10:30-11:00 |
| Hall 2.2 | Raythink | 2BA006 | 19-Apr | 14:00-14:30 |
| Hall 2.2 | Benewake | 2BA008 | 19-Apr | 10:00-10:30 |
| Hall 2.2 | LiangDao | 2BA012 | 19-Apr | 11:00-11:30 |
| Hall 2.2 | LeiShen Intelligence | 2BA013b | 19-Apr | 11:30-12:00 |
| Hall 2.2 | LeiShen Intelligence | 2BA013b | 20-Apr | 10:30-11:00 |
| Hall 2.2 | Mxnavi | 2BAO16B | 20-Apr | 14:00-14:30 |
| Hall 2.2 | Leekr | 2BB001 | 18-Apr | 13:30-14:00 |
| Hall 2.2 | EVK | 2BB007B | 18-Apr | 11:30-11:50 |
| Hall 2.2 | Valeo | 2BC 005 | 19-Apr | 12:00-12:30 |
| Hall 2.2 | Continental | 2BC 007 | 19-Apr | 9:40- 10:10 |
| Hall 2.2 | Mobis | 2BC 009 | 19-Apr | 10:30-11:00 |
| Hall 2.2 | Westwell | 2BC001 | 18-Apr | 10:00-10:30 |
| Hall 2.2 | NavInfo | 2BC003 | 18-Apr | 14:30-15:00 |
| Hall 2.2 | Webasto | 2BC006 | 18-Apr | 13:00-13:30 |
| Hall 2.2 | Desay SV | 2BC008 | 18-Apr | 10:30-11:00 |
| Hall 2.2 | Zhuzhou CRRC Times Electric | 2BD001 | 18-Apr | 9:30-10:00 |
| Hall 2.2 | Autoliv | 2BD003 | 19-Apr | 13:00-13:30 |
| Hall 2.2 | Schaeffler | 2BD005 | 18-Apr | 13:30-14:00 |
| Hall 2.2 | BorgWarner | 2BD006A | 18-Apr | 14:00-14:30 |
| Hall 2.2 | Freetech | 2BD010 | 19-Apr | 13:30-14:00 |
| Hall 2.2 | Highly New Energy | 2BE002 | 18-Apr | 11:00-11:30 |
| Hall 2.2 | Chuhang Technology | 2BF003A | 19-Apr | 15:00-15:30 |
| Hall 2.2 | Hongjing Drive | 2BF013 | 19-Apr | 10:00-10:30 |
| Hall 2.2 | Appotronics | 2BF022 | 18-Apr | 15:30-16:00 |
| Hall 2.2 | Appotronics | 2BF022 | 19-Apr | 11:30-12:00 |
| Hall 2.2 | Appotronics | 2BF022 | 19-Apr | 15:30-16:00 |
| Hall 2.2 | Tanway | 2BG003 | 19-Apr | 10:00-10:30 |
| Hall 3 | SAIC Maxus | 3A03 | 18-Apr | 11:10-11:30 |
| Hall 3 | IM Motors | 3A04 | 18-Apr | 10:00-11:00 |
| Hall 3 | IM Motors | 3A04 | 18-Apr | 14:00-14:30 |
| Hall 3 | Rising Auto | 3A06 | 18-Apr | 13:30-14:00 |
| Hall 3 | SAIC MG | 3A07 | 18-Apr | 13:00-13:30 |
| Hall 3 | SAIC Audi | 3A10 | 18-Apr | 11:30-11:50 |
| Hall 4.1 | Smart | 4A01 | 18-Apr | 11:40-12:00 |
| Hall 4.1 | Denza | 4A03 | 18-Apr | 11:20-11:40 |
| Hall 4.1 | Bejing Hyundai | 4A04 | 18-Apr | 10:20-10:40 |
| Hall 4.1 | Jiangling | 4A05 | 18-Apr | 09:20-09:40 |
| Hall 4.1 | Shenlan | 4A06 | 18-Apr | 10:00-10:20 |
| Hall 4.1 | Mercedes-Benz | 4A07 | 18-Apr | 10:40-11:00 |
| Hall 4.1 | Mercedes-EQ | 4A07 | 18-Apr | 11:00-11:20 |
| Hall 4.1 | Arcfox | 4A08 | 18-Apr | 09:40-10:00 |
| Hall 4.1 | BAIC Group | 4A09 | 18-Apr | 09:00-09:20 |
| Hall 4.1 | BAIC Foton | 4A09 | 18-Apr | 13:30-14:00 |
| Hall 4.1 | Skyworth Auto | 4A11 | 18-Apr | 14:00-14:30 |
| Hall 4.1 | Visteon | 4A13 | 18-Apr | 14:30-15:00 |
| Hall 5.1 | Hongqi | 5A01 | 18-Apr | 09:00-09:20 |
| Hall 5.1 | Volkswagen | 5A02 | 18-Apr | 09:20-09:40 |
| Hall 5.1 | Changan Mazda | 5A03 | 18-Apr | 10:40-11 :00 |
| Hall 5.1 | Toyota Boshoku | 5A04 | 19-Apr | 14:00-14:30 |
| Hall 5.1 | Jetta | 5A05 | 18-Apr | 10:20-10:40 |
| Hall 5.1 | Audi | 5A06 | 18-Apr | 09:40-10:00 |
| Hall 5.1 | Geely Auto | 5A07 | 18-Apr | 10:00-10:20 |
| Hall 5.1 | China Mobile | 5A08 | 18-Apr | 11:00-11:20 |
| Hall 5.1 | Unity China | 5A09 | 20-Apr | 10:30-11:00 |
| Hall 6.1 | NIO | 6A01 | 18-Apr | 10:00-10:20 |
| Hall 6.1 | NIO | 6A01 | 19-Apr | 14:00-14:30 |
| Hall 6.1 | Lynk & Co | 6A03 | 18-Apr | 11:00-11:20 |
| Hall 6.1 | Li Auto | 6A04 | 18-Apr | 09:20-09:40 |
| Hall 6.1 | Ora | 6A05 | 18-Apr | 09:00-09:20 |
| Hall 6.1 | Ora | 6A05 | 19-Apr | 10:30-11:00 |
| Hall 6.1 | Zeekr | 6A07 | 18-Apr | 10:40-11:00 |
| Hall 6.1 | XPeng | 6A08 | 18-Apr | 09:40-10:00 |
| Hall 6.1 | Hycan | 6A10 | 18-Apr | 10:20-10:40 |
| Hall 6.1 | Neta | 6A11 | 18-Apr | 11:20-11:40 |
| Hall 6.1 | Innovusion | 6A12 | 18-Apr | 13:30-14:00 |
| Hall 6.1 | FinDreams | 6A13 | 18-Apr | 14:00-14:30 |
| Hall 6.1 | FinDreams | 6A13 | 19-Apr | 11 :00-11:30 |
| Hall 6.2 | Dongfeng M Hero | 6B01 | 18-Apr | 10:00-10:20 |
| Hall 6.2 | Jaguar Land Rover | 6B02 | 18-Apr | 09:00-09:20 |
| Hall 6.2 | Lexus | 6B03 | 18-Apr | 09:40-10:00 |
| Hall 6.2 | Voyah | 6B04 | 18-Apr | 10:40-11:00 |
| Hall 6.2 | Wey | 6B05 | 18-Apr | 11:20-11:40 |
| Hall 6.2 | Tank | 6B05 | 18-Apr | 11:40-12:00 |
| Hall 6.2 | Tank | 6B05 | 18-Apr | 16:00-16:30 |
| Hall 6.2 | Tank | 6B05 | 19-Apr | 10:00-10:30 |
| Hall 6.2 | Genesis | 6B06 | 18-Apr | 10:20-10:40 |
| Hall 6.2 | Polestar | 6B07 | 18-Apr | 09:20-09:40 |
| Hall 6.2 | Avatr | 6B09 | 18-Apr | 11:00-11:20 |
| Hall 6.2 | Lincoln | 6B10 | 18-Apr | 12:00-12:30 |
| Hall 6.2 | Horizon Robotics | 6B12 | 18-Apr | 13:00-13:30 |
| Hall 6.2 | Horizon Robotics | 6B12 | 19-Apr | 09:00-10:00 |
| Hall 6.2 | Horizon Robotics | 6B12 | 19-Apr | 14:00-15:00 |
| Hall 7.1 | Mini | 7A01 | 18-Apr | 09:40-10:00 |
| Hall 7.1 | BMW | 7A02 | 18-Apr | 09:20-09:40 |
| Hall 7.1 | HiPhi | 7A03 | 18-Apr | 10:00-10:20 |
| Hall 7.1 | Yuanhang | 7A04 | 18-Apr | 09:00-09:20 |
| Hall 7.1 | Haval | 7A05 | 18-Apr | 11:00-11:20 |
| Hall 7.1 | Great Wall Cannon | 7A05 | 19-Apr | 11:00-11:30 |
| Hall 7.1 | BYD Auto | 7A06 | 18-Apr | 10:20-10:40 |
| Hall 7.1 | Bosch | 7A09 | 18-Apr | 13:00-13:30 |
| Hall 7.1 | Brabus | 7A10 | 18-Apr | 13:30-14:00 |
| Hall 7.1 | SemiDrive | 7A11 | 19-Apr | 13:30-14:00 |
| Hall 7.1 | Zhilu Space | 7A12 | 19-Apr | 10:30-11:00 |
| Hall 7.1 | SemiDrive | 7All | 19-Apr | 10:00-10:30 |
| Hall 7.2 | Nissan | 7B01 | 18-Apr | 11:00-11:20 |
| Hall 7.2 | Nissan | 7B01 | 19-Apr | 10:00-10:30 |
| Hall 7.2 | Dongfeng Motor | 7B02 | 18-Apr | 09:00-09:20 |
| Hall 7.2 | iCAR | 7B03 | 18-Apr | 10:40-11:00 |
| Hall 7.2 | Honda | 7B04 | 18-Apr | 12:30-13:00 |
| Hall 7.2 | JAC Group | 7B06 | 18-Apr | 11:20-11:40 |
| Hall 7.2 | JAC Group | 7B06 | 18-Apr | 12:00-12:30 |
| Hall 7.2 | Jetour | 7B09 | 18-Apr | 14:00-14:30 |
| Hall 7.2 | Chery | 7B10 | 18-Apr | 10:00-10:20 |
| Hall 7.2 | Chery | 7B10 | 18-Apr | 13:00-13:30 |
| Hall 7.2 | Exeed | 7B11 | 18-Apr | 10:20-10:40 |
| Hall 7.2 | Dongfeng Peugeot | 7B12 | 18-Apr | 09:40-10:00 |
| Hall 7.2 | REPT | 7B13 | 18-Apr | 13:30-14:00 |
| Hall 7.2 | REPT | 7B13 | 19-Apr | 10:30-11:00 |
| Hall 8.1 | Ducati | 8A01 | 18-Apr | 16:00-16:30 |
| Hall 8.1 | Mansory | 8A02 | 18-Apr | 14:00-14:30 |
| Hall 8.1 | Bentley | 8A03 | 18-Apr | 11:00-11:20 |
| Hall 8.1 | Lorinser | 8A04 | 18-Apr | 12:30-13:00 |
| Hall 8.1 | Yangwang | 8A05 | 18-Apr | 09:40-10:00 |
| Hall 8.1 | Honda Motorcycle | 8A06 | 18-Apr | 13:30-14:00 |
| Hall 8.1 | Porsche | 8A07 | 18-Apr | 10:20-10:40 |
| Hall 8.1 | Horwin | 8A08 | 18-Apr | 15:30-16:00 |
| Hall 8.1 | Speed Auto | 8A11 | 18-Apr | 13:00-13:30 |
| Hall 8.1 | Jinghang | 8A16 | 18-Apr | 15:00-15:30 |
| Hall 8.1 | Harley-Davidson | 8A17 | 18-Apr | 12:00-12:30 |
| Hall 8.1 | Maserati | 8A20 | 18-Apr | 09:20-09:40 |
| Hall 8.1 | Lamborghini | 8A21 | 18-Apr | 10:40-11:00 |
| Hall 8.1 | Kede | 8A23 | 18-Apr | 14:30-15:00 |
| Hall 8.1 | Rolls-Royce Motor Cars | 8A24 | 18-Apr | 10:00-10:20 |
| Hall 8.1 | Lotus | 8A25 | 18-Apr | 11 :40-12:00 |
| Hall 8.1 | Bufite | 8A26 | 19-Apr | l1 6:00-16:30 |
| Hall 8.2 | Subaru | 8B01 | 18-Apr | 11:00-11:20 |
| Hall 8.2 | FAW Bestune | 8B02 | 18-Apr | 10:20-10:40 |
| Hall 8.2 | Changan | 8B03 | 18-Apr | 11:40-12:00 |
| Hall 8.2 | Ford Motor | 8B04 | 18-Apr | 10:40-11:00 |
| Hall 8.2 | CATL | 8B05 | 18-Apr | 15:00-15:30 |
| Hall 8.2 | CATL | 8B05 | 19-Apr | 10:00-10:30 |
| Hall 8.2 | GAC Trumpchi | 8B06 | 18-Apr | 09:20-09:40 |
| Hall 8.2 | GAC Aion | 8B07 | 18-Apr | 09:40-10:00 |
| Hall 8.2 | Toyota | 8B08 | 18-Apr | 09:00-09:20 |
| Hall 8.2 | Livan | 8B09 | 18-Apr | 11:20-11:40 |
| Hall 8.2 | Kia | 8B10 | 18-Apr | 10:00-10:20 |
| Hall 8.2 | Black Sesame | 8B12 | 18-Apr | 13:00-13:30 |
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Starting this week, insurance registration data will no longer be available, with Li Auto's sharing a surprise exception.
The major sources that provide insurance registration data for China's auto industry have stopped sharing the data, but Li Auto (NASDAQ: LI) has shared content that allows us to still have access to some of the data.
For the week of April 3 to April 9, Li Auto sold 4,177 units, far outpacing other new car brands and again becoming the weekly sales leader for new brands in the Chinese market, the automaker said yesterday on Weibo.
Li Auto didn't specify what the sales figure was based on, though they were apparently insurance registrations. Previously, we had access to those numbers every Tuesday, and Li Auto's practice for the past two weeks has been to share some of them on Wednesdays.
The tables shared by the extended-range electric vehicle (EREV) maker show that NIO (NYSE: NIO) vehicles had 1,316 insurance registrations last week, and XPeng (NYSE: XPEV) had 904.
Neta vehicles had 1,526 insurance registrations last week, Zeekr had 1,476 and Leapmotor had 1,157.
Li Auto's tables also provided insurance registrations for vehicles from luxury brands in China last week, with Mercedes-Benz in the top spot with 14,817, BMW in second with 13,506, and Audi in third with 10,573.
Tesla came in fourth with 6,973 units and Li Auto in fifth. Lexus was No. 9 with 1,493 units, and NIO was No. 10.
The vendor that provided us with the data said they will not be able to continue to provide such data, saying it was the decision of the data source.
The bloggers who previously shared the data on Weibo have also stopped sharing such data.
China NEV insurance registrations for week ending April 2: BYD 46,218, Tesla 14,275, NIO 2,730
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Li Auto will let two technology lines develop in parallel, including optimizing the range extender for greater efficiency and making pure electric vehicle technology better, its CEO said last month. Li Auto US | Li Auto HK
(Image credit: Li Auto)
Li Auto (NASDAQ: LI) is making the transition to pure electric vehicles, and that day may come sooner than many expected.
On April 18, the first day of the Shanghai auto show, Li Auto's all-electric solution will be officially unveiled with the launch of a "dual-energy strategy," the new energy vehicle (NEV) maker announced on its social media platforms late last night.
The upcoming biennial Shanghai auto show will be held at the National Exhibition and Convention Center from April 18-27, with press days from April 18-19 and professional visitor days from April 20-21, while the general public can enter from April 22-27.
Li Auto did not provide any additional information on its all-electric solution, saying only that those interested can visit its booth #6A04 in Hall 6.1 during the Shanghai auto show to learn more.
"We'll be waiting for you at the Shanghai auto show from April 18-April 27, 2023," Li Auto said.
Here's a map of its booth location at the Shanghai auto show, as announced by Li Auto.
Li Auto's current vehicles on sale -- Li L7, Li L8 and Li L9 -- are all extended-range electric vehicles (EREVs) with an electric range of around 200 kilometers and can be refueled.
In terms of product form, SUVs with extended-range technology are a more appropriate choice, and Li Auto's future pure electric models will bring products that are completely different from any other form currently on the market and will not impact existing products, Li Xiang, founder, chairman and CEO of Li Auto, said on Weibo last June.
For pure electric models, Li Auto will launch a product similar to the L series to meet demand in the RMB 200,000 ($2,9100) - $500,000 price range, the company's management said in a call with analysts on February 27 after announcing its fourth-quarter earnings.
Infrastructure is critical for future all-electric models, and users will need a charging experience close to that of a fuel car. Li Auto will use 800 V technology and has built its own silicon carbide module factory, its management said.
Real-world measurements show that Li Auto's products can save about 15 percent of battery capacity compared to mainstream 400 V, IGBT module products, resulting in significant cost reductions, according to the call.
Li Auto will allow two technology lines to develop in parallel, including optimizing the range extender for higher efficiency and making pure electric vehicle technology better, Li said in a March 2 media communication.
Early last month, one of Li Auto's under-construction 800 V charging stations was seen at a highway service area in China, sparking widespread discussion in the Chinese community.
On March 10, 36kr cited sources familiar with the matter as saying that Li Auto's infrastructure build-out will see an "NIO pace" and that the company has set a goal of building about 300 supercharging stations within the year, with about 10 already deployed in highway service areas.
The move is in preparation for the launch of Li Auto's first all-electric model, which will be an all-electric MPV expected to be released by the end of 2023, and ultra-fast charging will be one of the highlights of the vehicle, according to the report.
($1 = RMB 6.8758)
Li Auto to build charging stations at 'NIO pace', report says
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In the past five weeks, NIO vehicles had 11,929 insurance registrations. The company delivered 10,378 vehicles in March.
China's new energy vehicle (NEV) sector saw continued improvement last week, with most major players posting sales increases.
In the week ending April 2, insurance registrations for all vehicles in China were 465,500, up 46.9 percent year-on-year and up 19.9 percent from the previous week, according to data shared today by several auto bloggers.
Of these, 139,500 were NEVs, up 44.7 percent year-on-year and up 9.28 percent from the previous week, with a penetration rate of 29.96 percent.
Gasoline vehicles were 326,000 units, up 47.9 percent year-on-year and up 25.1 percent from the previous week.
BYD vehicles continued to register the highest number of insurance units last week at 46,218, up from 43,490 the previous week.
In the past five weeks -- February 27 to April 2 -- BYD NEVs had 204,195 insurance registrations in China.
As a comparison, BYD sold 207,080 wholesale NEVs in March, including 13,312 units sold overseas, according to data it released on April 2.
Insurance registrations for Tesla vehicles in China last week were 14,275, slightly lower than the previous week's 15,886.
In the past five weeks, Tesla vehicles had 79,171 insurance registrations in China.
Tesla sold 88,869 China-made vehicles in March, including exports, according to data released earlier today by the China Passenger Car Association (CPCA).
Those numbers mean that Tesla's Shanghai plant may have exported only a few thousand vehicles in March, with the rest for deliveries to Chinese consumers.
Tesla's pattern is to produce cars for export in the first half of the quarter and for the local market in the second half.
Insurance registrations for NIO vehicles were 2,730 last week, up from 1,909 the previous week.
In the past five weeks, NIO vehicles had 11,929 insurance registrations.
NIO delivered 10,378 vehicles in March, including 3,203 SUVs, and 7,175 sedans, according to data released by the company on April 1.
Li Auto (NASDAQ: LI) vehicles had 6,185 insurance registrations last week, up from 5,081 in the previous week.
In the past five weeks, Li Auto vehicles saw 24,169 insurance registrations. For comparison, it delivered 20,823 vehicles in March.
XPeng (NYSE: XPEV) vehicles had 2,034 insurance registrations last week, up from 1,564 the previous week.
XPeng's total for the past five weeks was 7,950, and the company delivered 7,002 vehicles in March.
Zeekr vehicles had 2,571 insurance registrations last week and a cumulative total of 7,555 over the past five weeks. It delivered 6,663 vehicles in March.
Neta had a figure of 3,740 vehicles in the last week and a total of 12,286 vehicles in the last five weeks. It delivered 10,087 vehicles in March.
BMW had 2,598 NEV insurance registrations last week, for a total of 9,959 over the past five weeks.
China's Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show
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Wang Xing has cashed out HK$420 million in the past half month by cutting his stake in Li Auto, but remains the NEV maker's largest external shareholder. | Li Auto US | Li Auto HK
Li Auto's (NASDAQ: LI) largest external shareholder is cutting holdings as the new energy vehicle (NEV) maker continues to see strong delivery performance.
Wang Xing, co-founder and CEO of Chinese food delivery giant Meituan, has cut his stake in Li Auto's Hong Kong-traded shares six times in the past half month and cut his holdings in the automaker's US-traded ADRs three times, according to a Hong Kong Stock Exchange document.
Since March 21, Wang has cashed in about HK$310 million from his cuts in Li Auto's Hong Kong shares and about $14.07 million ($110 million) from his cuts in the automaker's ADRs, for a total of about HK$420 million.
Wang, a non-executive director of Li Auto, saw his stake in Li Auto drop to 22.35 percent after those reductions, still the automaker's top outside shareholder.
After Wang's move generated a lot of attention, Li Auto tried to downplay it.
It was a personal move by Wang, representing a very small percentage of his stake in Li Auto and not involving Meituan's holdings, local media Cailian reported yesterday, citing a response from the carmaker.
It is worth noting that Wang also reduced his stake in Li Auto several times at the end of March last year.
On March 29 and March 30, 2022, Wang cashed in about HK$210 million by reducing his holdings in Li Auto's Hong Kong and US shares.
Wang was one of the earliest backers of Li Auto, leading the car company's Series C funding round in 2019 with a personal contribution of up to $285 million.
In June 2020, Li Auto received $550 million in Series D funding, $500 million of which was led by Meituan.
At the time of Li Auto's US IPO, Meituan subscribed $300 million and Wang personally subscribed $30 million.
Wang and the entities he controls own a total of 22.82 percent of Li Auto, the automaker's 2022 interim report showed.
Li Auto delivered 20,823 vehicles in March, the second time it has exceeded 20,000 after last December, figures it released on April 1 showed.
The deliveries were the second highest for a single month since Li Auto's inception, after a record high of 21,233 vehicles last December.
Li Auto delivered 52,584 vehicles in the first quarter, up 65.8 percent year-on-year and up 13.53 percent from the fourth quarter of last year.
Li Auto was down 3.85 percent to HK$93.7 in Hong Kong at press time. The company is up about 11 percent so far this year in Hong Kong.
($1 = HK$7.8490)
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