Category: Tesla

China NEV insurance registrations for week ending May 14: BYD 46,892, Tesla 9,990, NIO 1,200

Post author By Phate Zhang/CnEVPost
Post date May 17, 2023

NIO's sales appear to continue to be dampened by the upcoming new ES6, as potential consumers may be waiting for this more cost-effective SUV.

The main channels that previously shared weekly auto insurance registrations in China stopped sharing these numbers, but multiple reliable sources that we track on a daily basis shared last week's numbers.

For the week of May 8 to May 14, insurance registrations for all passenger vehicles in China were 365,000, up 43.5 percent year-on-year, but down 11.8 percent from the previous week.

Insurance registrations for conventional internal combustion engine vehicles were 245,000 last week, up 29.8 percent year-on-year but down 20.3 percent from the previous week.

New energy vehicles (NEVs) were 120,000 units last week, up 82.7 percent year-on-year and 12.8 percent from the previous week.

In terms of NEV insurance registrations, BYD (OTCMKTS: BYDDY) continues to hold the distant lead with 46,892 units last week, up from 45,789 units the week before.
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During the week of May 1 to May 7, the first three days were the Labor Day holiday in China, although May 6 was a Saturday but a weekday. The holiday ran from April 29 to May 3.

Tesla (NASDAQ: TSLA) registered 9,990 insurance units in China last week, up from 5,928 the week before.

NIO (NYSE: NIO) had 1,200 insurance registrations last week, up from 1,100 the week before. These numbers are not precise to the single digit, as the sources tracked by CnEVPost did not share more detailed figures.

NIO's sales appear to be continuing to be dampened by the upcoming new ES6, as potential consumers may be waiting for the more cost-effective SUV.

The company announced yesterday that the new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries to begin on May 25.

This will be its fastest model from launch to delivery, perhaps because of the lessons learned from the long waiting period for models including the ET5 that led to the loss of potential orders.

The continued product switchover led to months of sluggish NIO deliveries, which fell further to 6,658 vehicles in April. The company will report first-quarter earnings on June 9, when it is expected to provide guidance on second-quarter deliveries.

Li Auto (NASDAQ: LI) continued its strong trend with 6,670 insurance registrations last week, up from 4,543 the previous week.

Li Auto is currently untroubled by product switches and its three models are competitive compared to their class, allowing it to maintain strong sales.

To show off that it is leading the pack of new car makers, Li Auto has shared weekly insurance registration figures for the past two months, but stopped sharing them this month.

On May 15, Li Auto founder, chairman and CEO Li Xiang said on Weibo that their sharing of weekly data was complained about by some of their peers, so they were unable to continue sharing them.

Li Auto guided for second-quarter deliveries between 76,000 and 81,000 vehicles when it reported first-quarter earnings on May 10. Considering it delivered a record 25,681 vehicles in April, that guidance means it expects to deliver a total of 50,319 to 55,319 vehicles in May and June.

XPeng (NYSE: XPEV) had 1,500 insurance registrations last week, up from 870 the week before.

XPeng, similar to NIO, is facing a product switch, with potential consumers perhaps watching the upcoming launch of the new SUV G6.

It previously said the G6 would be officially launched and delivered by the end of the second quarter, with a price range of RMB 200,000 ($28,660) - RMB 300,000.

XPeng's monthly sales target for the G6 is two to three times that of the P7, its chairman and CEO He Xiaopeng said during a March 17 analyst call after the company announced its fourth-quarter earnings.

XPeng delivered 7,079 vehicles in April, down 21.36 percent from 9,002 a year ago but up 1.1 percent from 7,002 in March.

It will report first-quarter earnings on May 24, when it is expected to provide guidance on second-quarter deliveries.

($1=RMB 6.9787)

Data table: China NEV weekly insurance registrations

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Tags Li Auto, Tesla

Electric Green Hirings/Firings/Layoffs Tesla

Tesla shareholders grapple with ‘life after Musk’ succession planning

Post author By Chris Teague
Post date May 16, 2023

Filed under: Green,Hirings/Firings/Layoffs,Tesla,Electric

Continue reading Tesla shareholders grapple with 'life after Musk' succession planning

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Tags Electric, Green, Hirings/Firings/Layoffs, Tesla

China Electric eMobility eV Giga Shanghai Tesla

Tesla applies to expand Shanghai plant, to add pouch-type battery cell capacity, report says

Post author By Phate Zhang/CnEVPost
Post date May 16, 2023

The potential expansion would give the Shanghai factory the capacity to produce 1.75 million powertrains per year, up from the current 1.25 million, according to Reuters.

(Image: Tesla China video screenshot.)

Tesla has applied for regulatory clearance to expand its Shanghai plant and to begin producing pouch-type battery cells for the first time, according to a Reuters report today.

The potential expansion would give the Shanghai factory the capacity to produce 1.75 million powertrain units a year, up from the current 1.25 million, the report said, citing an undated public notice.

It's not clear whether Tesla is committed to moving forward with the expansion or is simply seeking approval for potential, future capacity, the report noted.

Tesla is seeking permission to produce pouch battery cells, and a trial production line would have an initial annual capacity of 20,000 amp-hour cells, the equivalent of one Model Y battery pack, according to the report.

It's not clear how Tesla would use the pouch batteries, which it hasn't used in electric vehicles before, the report noted.

Tesla is also looking to ramp up production of cylindrical 4680 battery cells in China and has brought in new suppliers to reduce costs, according to the Reuters report.

Giga Shanghai is Tesla's largest plant in the world, producing the Model 3 and Model Y, with an annual capacity of about 1.1 million vehicles.

CATL is Tesla's power battery supplier in China, and has a factory near Giga Shanghai that makes battery packs for the EV maker.

Earlier today, Bloomberg cited people familiar with the matter as saying that Tesla is nearing the final stages before starting trial production of its revamped Model 3 sedan in Shanghai.

On April 9, Tesla signed a deal with Shanghai's Lingang authorities to build a new Megafactory in the area, which will be dedicated to Megapack, Tesla's energy storage product.

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

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

It is not clear whether the pouch battery cells mentioned in the Reuters report are related to the Megafactory.

Tesla's revamped Model 3 nears final trial production in Shanghai, report says

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Tags CATL

China Electric eMobility eV Giga Shanghai Tesla Tesla Model 3

Tesla’s revamped Model 3 nears final trial production in Shanghai, report says

Post author By Phate Zhang/CnEVPost
Post date May 16, 2023

The revamped Model 3 is slightly longer and sportier than earlier versions and has a sleeker interior design, according to Bloomberg.

Tesla's revamped Model 3 nears final trial production in Shanghai, report says-CnEVPost

(Image credit: CnEVPost)

Tesla is nearing the final stages before starting trial production of its revamped Model 3 sedan in Shanghai, a Bloomberg report today said, citing people familiar with the matter.

The revised Model 3 is slightly longer, sportier and has a sleeker interior design than earlier versions, the people said, according to the report.

Since the beginning of this month, some production staff at Tesla's Shanghai plant have been asked to keep their phones in special lockers outside the factory's production line to prevent potential photo leaks, one of the people said.

Production lines in the first phase of the factory could be shut down for a few days at the end of the month for adjustments, though those plans could still change, the report said.

On March 1, Reuters reported that Tesla had been working to retool its Shanghai assembly plant for a revamped version of the Model 3, a project codenamed Highland by Tesla.

The Highland version of the Model 3 is expected to go into production in Shanghai in September, the Reuters report said, citing a person familiar with the matter.

With the Highland, Tesla aims to cut production costs and boost the appeal of the electric sedan, which debuts in 2017, people involved in the project said.

Appearance and powertrain performance will also be changed, with a focus on production efficiency, they said, according to the report.

Giga Shanghai is Tesla's largest plant in the world, producing the Model 3 and Model Y, with an annual capacity of about 1.1 million vehicles.

Tesla sold 75,842 China-made vehicles in April, including 35,886 units exported, according to the China Passenger Car Association (CPCA).

Model 3 sales in China in April were 13,196 units, up 2,290.58 percent from 552 units in the same month last year, but down 39.26 percent from 21,726 units in March.

Model Y sales in China in April were 26,760 units, up 2,687.50 percent from 960 units in the same month last year, but down 51.29 percent from 54,937 units in March.

This is due to the fact that Tesla's sales in China fell sharply last April due to the Covid lockdown in Shanghai, and its pattern of producing vehicles primarily for export in the first half of each monthly quarter.