Filed under: Government/Legal,Green,Ford,GM,Tesla,Electric
White House says Tesla chargers available for federal dollars — as long as they include CCS originally appeared on Autoblog on Fri, 9 Jun 2023 14:49:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Design/Style,Green,Plants/Manufacturing,Rumormill,Tesla,Truck,Electric
Continue reading Leaked document shows significant early issues with Tesla Cybertruck
Leaked document shows significant early issues with Tesla Cybertruck originally appeared on Autoblog on Fri, 9 Jun 2023 10:20:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsAccording to the data released by the China Passenger Car Association (CPCA), the Chinese market witnessed the sale of 1.742 million new cars in May 2023. This represents a 7% increase compared to the previous month. Notably, among these sales, 388,000 were electric vehicles (EVs), and 192,000 were plug-in hybrid electric vehicles (PHEVs), collectively known […]
The post Top-selling cars in May 2023 in China – BYD first, Volkswagen second, Toyota third appeared first on CarNewsChina.com.
Filed under: Earnings/Financials,Green,GM,Tesla,Electric
Continue reading Tesla stock jumps on EV charging tie-up with GM
Tesla stock jumps on EV charging tie-up with GM originally appeared on Autoblog on Fri, 9 Jun 2023 08:29:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsXPeng's stock traded in Hong Kong continues to rally after the announcement of the G6's pre-sale price, currently up about 5 percent.
XPeng (NYSE: XPEV) shares traded in Hong Kong rallied quickly after pre-sales of the new SUV G6 began, suggesting investors may be bullish on the pricing.
At press time, XPeng was up 5.03 percent to HK$34.45 in Hong Kong.
XPeng's local peer NIO (NYSE: NIO) is now down about 0.08 percent in Hong Kong, while Li Auto (NASDAQ: LI) is up 0.8 percent. Hong Kong's Hang Seng Index is up 0.58 percent.
XPeng opened up more than 2 percent in Hong Kong, but then fell quickly, giving back all of its gains at about 10:20 am.
The company announced at 10:16 am today that the G6 was up for pre-sale, with a starting pre-sale price of 225,000 yuan ($31,610). Its stock price continued to move higher after that.
The pre-sale starting price for the XPeng G6 is RMB 38,900 less than its direct competitor, the Tesla Model Y, and RMB 84,900 less than the RMB 309,900 starting price for XPeng's flagship SUV, the G9.
It is important to note that the pre-sale price is not the final price and XPeng may provide new pricing based on consumer feedback when the G6 is officially launched.
G6 show cars are already available at XPeng stores, and the model will be officially launched on June 29, with deliveries starting in July, the company said.
Analysts believe the G6 will be critical for XPeng as the company continues to face weak sales and financial performance.
"With margins and cash burn looking materially worse following 1Q earnings, we believe management may be making its last stand with the G6," Deutsche Bank analyst Edison Yu's team said in a May 30 research note.
The team's previous view assumed XPeng could see stable natural margin improvement from the sharp drop in battery input prices, but those savings were mostly offset by incremental promotional activity and a poor mix.
" Therefore, the importance of the upcoming G6 has become even GREATER," the team wrote.
Weak delivery performance over the past year has dampened XPeng shares, and they are down about 11 percent year to date.
XPeng begins pre-sales of G6 with starting price significantly lower than Tesla Model Y
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While the overall trend is for FSD to enter China, there are still two major issues before it becomes a reality -- data collection eligibility and supercomputing centers, according to CITIC Securities.
(Image credit: CnEVPost)
A Chinese official's remarks a month ago sparked much anticipation for Tesla to bring FSD (Full Self-Driving) to China.
However, Tesla still has a lot of work to do if it makes this a reality. A team of local analysts shared their views in a new research note.
The trend of Tesla FSD entering China is becoming clearer, which is expected to accelerate the progress of intelligence in local electric vehicles (EVs), said a team of CITIC Securities analyst Lian Yixi in a research note today.
While the overall trend is for FSD to enter China, it is still two major issues away from becoming a reality -- data collection eligibility and supercomputing centers, according to the team.
Under China's current regulations, high-precision map mapping can only be conducted by qualified entities, and only 19 currently hold the qualification, the team noted.
Moreover, the compilation of electronic maps for navigation is currently open only to local companies, and the transmission of mapping data outside of China must also be approved in advance, the team said.
Map data is highly sensitive and related to national security, and exactly how Tesla should obtain the qualification is still unknown, the team said.
Viable options for Tesla include forming a joint venture with a Chinese company or moving the process forward in Shanghai on a pilot basis, but it would be difficult for it to roll out the effort on a large scale any time soon, according to the team.
In addition to map-related qualifications, Tesla would need to build a supercomputing center in China.
The pure vision route for autonomous driving relies more on massive data collection and model training for image processing, so Tesla built Dojo, a supercomputing center in the US, and developed its own D1 chip to improve the training efficiency of FSD, CITIC Securities noted.
And in China, even if Tesla obtains the data acquisition qualification, the probability is that it can only train the model locally in China and the data may not be allowed to be transmitted back to the US, the team said.
This means that to achieve the same training efficiency as in the US, Tesla would need to establish a supercomputing center in China similar to Dojo, which would require a certain development cycle and cost, according to the team.
Despite these two major issues, CITIC Securities believes that if Tesla succeeds in bringing FSD to China, it will benefit the overall intelligence of China's EVs, helping to strengthen consumer education, expand the market, and accelerate the process of letting the best win out.
The entry of FSD into China is likely to significantly strengthen consumers' awareness of the intelligence of cars and develop their daily needs and habits for smart driving, which is expected to allow the market to expand significantly in China, the team said.
It is also important to note that if Tesla introduces the highly profitable FSD to China, it has the potential to further reduce the prices of its vehicles and could launch a lower-priced Model 2/Q, with pricing likely in the RMB 150,000 ($21,070) to RMB 200,000 range, according to the team.
If such a scenario emerges, cost pressures on local low- and mid-range models would be further exacerbated, when obtaining a low-priced but qualified smart driving software from a third-party supplier could become a mainstream option for car companies with weaker R&D capabilities, the team said.
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Shanghai official hints at support for Tesla's FSD rollout in China
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The G6's pre-sale starting price is RMB 38,900 lower than the Tesla Model Y and RMB 84,900 lower than XPeng's flagship SUV, the G9.
(Image credit: CnEVPost)
XPeng (NYSE: XPEV) has begun pre-sales of its highly anticipated new SUV, the G6, at a price significantly lower than the rival Tesla Model Y.
Pre-sales for the G6 start at RMB 225,000 ($31,610), XPeng announced today on Weibo.
For comparison, the model's direct competitor, the Tesla Model Y, is currently offered in China in three versions starting at RMB 263,900, RMB 313,900, and RMB 363,900 respectively.
This means that the XPeng G6 starts at RMB 38,900 less than the Model Y. The G6 is also RMB 84,900 less than the XPeng flagship SUV, the G9, which starts at RMB 309,900.
It is important to note that the pre-sale price is not the final price and XPeng may offer new pricing based on consumer feedback when the G6 is officially launched.
Consumers who pay RMB 2,000 to reserve the XPeng G6 now will receive an RMB 5,000 discount when they pay for the car.
The XPeng G6 will be officially launched in June, with volume deliveries starting in July, and production capacity will climb rapidly, its management said in a May 24 analyst call after announcing first-quarter earnings.
The G6 will be a hot seller in China's new energy SUV market priced in the RMB 200,000 to 300,000 range, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.
The G6 has been set aside about two months from the start of production to delivery, and XPeng expects the model to reach more than double the sales of the P7i, its management said.
That means XPeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on May 30.
XPeng will likely price the G6 significantly lower than the Model Y, hoping to attract consumers with a sleeker design and updated interior, the team said, adding that the Zeekr X is already taking that approach with a starting price of just RMB 190,000.
XPeng unveiled an architecture called SEPA (Smart Electric Platform Architecture) 2.0 at a technology conference in Shanghai on April 16, saying the G6 will be the first model built on it.
On April 18, XPeng officially unveiled the G6 on the first day of the Shanghai auto show, saying that the G6 is the ultimate form of car before fully autonomous driving is achieved.
The model is based on the 800 V high-voltage platform and can get a 300-kilometer range in as little as 10 minutes on a charge, XPeng said at the time. The company's other 800 V-based model is the G9.
XPeng cites the Tesla Model Y as its main competitor to the G6. The vehicle is positioned as an all-electric midsize SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.
For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm and a wheelbase of 2,890 mm.
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The G6's pre-sale starting price is RMB 38,900 lower than the Tesla Model Y and RMB 84,900 lower than XPeng's flagship SUV, the G9.
(Image credit: CnEVPost)
XPeng (NYSE: XPEV) has begun pre-sales of its highly anticipated new SUV, the G6, at a price significantly lower than the rival Tesla Model Y.
Pre-sales for the G6 start at RMB 225,000 ($31,610), XPeng announced today on Weibo.
For comparison, the model's direct competitor, the Tesla Model Y, is currently offered in China in three versions starting at RMB 263,900, RMB 313,900, and RMB 363,900 respectively.
This means that the XPeng G6 starts at RMB 38,900 less than the Model Y. The G6 is also RMB 84,900 less than the XPeng flagship SUV, the G9, which starts at RMB 309,900.
It is important to note that the pre-sale price is not the final price and XPeng may offer new pricing based on consumer feedback when the G6 is officially launched.
Consumers who pay RMB 2,000 to reserve the XPeng G6 now will receive an RMB 5,000 discount when they pay for the car.
The XPeng G6 will be officially launched in June, with volume deliveries starting in July, and production capacity will climb rapidly, its management said in a May 24 analyst call after announcing first-quarter earnings.
The G6 will be a hot seller in China's new energy SUV market priced in the RMB 200,000 to 300,000 range, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.
The G6 has been set aside about two months from the start of production to delivery, and XPeng expects the model to reach more than double the sales of the P7i, its management said.
That means XPeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on May 30.
XPeng will likely price the G6 significantly lower than the Model Y, hoping to attract consumers with a sleeker design and updated interior, the team said, adding that the Zeekr X is already taking that approach with a starting price of just RMB 190,000.
XPeng unveiled an architecture called SEPA (Smart Electric Platform Architecture) 2.0 at a technology conference in Shanghai on April 16, saying the G6 will be the first model built on it.
On April 18, XPeng officially unveiled the G6 on the first day of the Shanghai auto show, saying that the G6 is the ultimate form of car before fully autonomous driving is achieved.
The model is based on the 800 V high-voltage platform and can get a 300-kilometer range in as little as 10 minutes on a charge, XPeng said at the time. The company's other 800 V-based model is the G9.
XPeng cites the Tesla Model Y as its main competitor to the G6. The vehicle is positioned as an all-electric midsize SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.
For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm and a wheelbase of 2,890 mm.
($1 = RMB 7.1187)
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Filed under: Green,GM,Tesla,Technology,Electric,Infrastructure
Continue reading GM partners with Tesla for Supercharger access, adoption of NACS
GM partners with Tesla for Supercharger access, adoption of NACS originally appeared on Autoblog on Thu, 8 Jun 2023 17:25:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsThe Mustang Mach-E team will be integrated back into Ford China and the separate entity running the project will be written off in the future, according to local media.
(Image credit: Ford Mustang Mach-E Weibo)
Ford once had high hopes for the Mustang Mach-E's performance in China and set up a separate entity to run the line.
Now, after a long period of weak sales, the US auto giant is reportedly scaling back its ambitions for the program.
Ford China is recently undergoing an organizational restructuring that will see the Mustang Mach-E team integrated back into Ford China and the separate entity that runs the program written off in the future, local media outlet Jiemian said today, citing several sources familiar with the matter.
The organizational restructuring will involve more than 2,000 employees and is expected to be completed in July, according to the report.
Because Mustang Mach-E sales are so poor, the separate company will have trouble taking on losses for long, a person familiar with the matter said.
The integration of the team does not mean the Mustang Mach-E will be withdrawn from China, and the model will continue to be produced by Changan Ford, Ford's joint venture in China, according to the report.
Ford launched the Mustang Mach-E in China in April 2021, with the first deliveries coming on December 26 of the same year.
Zhu Jiang, then head of the program, joined Ford China in June 2020 and was responsible for Mach-E-related operations and management of marketing, PR, sales, service and customer experience.
Zhu joined NIO as vice president of user development in March 2017 and left in March 2020.
In November 2021, Zhu left Ford to join Jidu Auto, Baidu's car-building arm, and earlier today, Jiemian reported that Zhu had left Jidu to join Lucid Motors.
Ford had high hopes for the Mustang Mach-E, setting up a company called Ford Electric Mach Technologies, or FMeT for short, in September 2022.
It was the first independent company in the Chinese market to be established by a foreign auto brand with a deep focus on the development and operation of smart electric vehicles to fully accelerate electrification and intelligence development, Ford said at the time.
Ford will build on its strong R&D capabilities to create products that meet the needs of Chinese consumers, it said.
But Mustang Mach-E sales in China have been weak, well below those of China's major electric vehicle startups.
Mustang Mach-E sales peaked at 1,535 units last December and then declined, selling just 332 units in April, less than a fraction of rival Tesla's Model Y, Jiemian's report said.
Notably, last December's sales peak appears to have been driven by incentives introduced by Ford.
On October 24, 2022, Tesla lowered the prices of the entire Model 3 and Model Y lineup in China, with the entry-level, rear-wheel-drive Model Y's subsidized starting price dropping to RMB 288,900 ($40,610), down from the previous 316,900.
A few days later, on October 31, Ford announced a price cut for the entire Mustang Mach-E lineup in China, with the subsidized starting price dropping from RMB 275,900 to RMB 249,900.
China's purchase subsidies for NEVs expired at the end of 2022 and had not been renewed.
($1 = RMB 7.1140)
Ford offers up to $5,740 discount on Mustang Mach-E in China
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