Tag: CATL

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CATL China Deals Electric eMobility eV

CATL reaches deal to supply energy storage systems to US firm HGP

The 450-MWh battery storage project will be deployed in Texas and is expected to begin commercial operations in 2024.

(Image credit: )

CATL recently entered into a 450 MWh supply agreement with US battery storage project developer HGP, the battery giant's latest similar agreement with a US company.

The battery storage project will be deployed in Texas and is expected to begin commercial operations in 2024, a CATL press release said yesterday.

CATL will provide HGP with the EnerC, an outdoor premade pod system that offers high safety, long life, and high integration for a variety of weather extremes, according to the release.

The partnership leverages CATL's strengths in battery technology and HGP's strengths in energy infrastructure and storage resource development and will provide a more convenient solution for the market, the release said.

This helps meet the growing demand for clean energy in Texas and North America and highlights CATL's and HGP's commitment to achieving sustainable development, the Chinese battery giant said.

The two companies will also establish a long-term partnership to drive the implementation of utility-scale and distributed energy storage projects up to 5 GWh in size, according to the release.

HGP is based in Dallas, Texas, and has decades of market experience deploying grid investment-grade energy storage assets.

This is CATL's latest agreement with a US company for the supply of energy storage systems.

Last September, CATL announced that it had entered into a partnership agreement with FlexGen, a US provider of energy storage technology platforms and solutions, to supply the latter with 10 GWh of energy storage products over a three-year period.

CATL will supply FlexGen with EnerC, a containerized liquid-cooled energy storage product that can withstand a wide range of weather extremes and keep the system running safely and reliably for 20 years, the power battery giant previously said.

In October 2022, CATL entered into an agreement with Primergy Solar LLC, a US utility and distributed PV and energy storage operator, to exclusively supply batteries for the latter's Gemini PV and energy storage project.

Located near Las Vegas, Nevada, the project will have 690 MWac/966 MWdc solar panels and a 1.416 GWh energy storage system and will be one of the largest PV storage projects in the US when completed, CATL said at the time.

CATL has begun mass production of Qilin Battery, report says

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China Electric eMobility eV Industry News Product Launch Rising Auto Rising Auto F7

SAIC’s Rising Auto launches battery swap-enabled mid to large-size sedan F7

The Rising F7 starts at a price range of RMB 209,900 ($30,490) to RMB 301,900, or RMB 145,900 in battery rental mode.

(Image credit: Rising Auto)

SAIC Group's Rising Auto has officially launched the battery swap-enabled mid to large-size sedan, the F7, its second model.

The Rising F7 is available in six versions with a starting price range of RMB 209,900 ($30,490) to RMB 301,900, about half the price of the ET7, according to information announced by Rising Auto at last night's launch event.

The car supports battery swap as NIO's models and allows consumers to purchase the vehicle body and rent a battery.

If consumers choose to purchase the car without the battery, the Rising F7 will start at RMB 145,900.

The car is an all-electric mid to large-size sedan with a length, width and height of 5,000 mm, 19,53 mm and 1,494 mm respectively, and a wheelbase of 3,000 mm.

For comparison, the NIO ET7 measures 5,101 mm in length, 1,987 mm in width and 1,509 mm in height, with a wheelbase of 3,060 mm, and has a starting price of RMB 458,000 including the battery.

The Rising F7 is available in 64-kWh, 77-kWh and 90-kWh battery packs, providing CLTC ranges of 500 km, 576 km, 600 km and 666 km.

The car is available in single-motor rear-wheel drive and dual-motor four-wheel drive versions, with the single-motor model having a peak motor power of 250 kW and a peak torque of 400 Nm and accelerating from 0 to 100 km/h in 5.7 seconds.

The dual-motor model has a maximum total motor power of 400 kW and a peak torque of 700 Nm, accelerating from 0 to 100 km/h in 3.7 seconds.

The car's smart cockpit system, Rising OS, is powered by a Qualcomm Snapdragon 8155 chip and features a 43-inch integrated screen inside the car, including LCD instrument screen, an OLED center console and a passenger seat screen.

Like Rising Auto's first model, the Rising R7 SUV, the Rising F7 also supports battery swap, which can be completed in 2.5 minutes under ideal conditions.

It is worth noting that Rising Auto is in the beginning stages of infrastructure development, with only three battery swap stations in Shanghai and over 50 battery swap stations under construction in 10 cities.

For comparison, as of March 27, NIO had 1,325 battery swap stations in China.

Rising Auto, previously known as R Auto, launched the Rising R7 on September 28, 2022, its first model since rebranding. Deliveries of the model began in October last year.

In early September 2022, SAIC announced that it had joined hands with Sinopec, China National Petroleum Corp (CNPC), and Shanghai Automobile City to form a company specializing in battery swap services.

SAIC said at the time that its Rising Auto, Roewe, MG and Maxus brands would launch battery swap-enabled models.

Rising Auto delivered 1,501 and 1,523 vehicles in November and December, respectively, according to information it previously announced. The company did not announce deliveries this year.

($1 = RMB 6.8851)

SAIC's Rising Auto officially launches battery swap-enabled R7 SUV with subsidized starting price of $40,130

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CATL China Electric eMobility eV Li Auto Lithium Lithium Carbonate Lithium Prices Nio Zeekr

CATL to reach new price agreement with automakers as soon as end of Mar, report says

The price of lithium, a raw material for batteries, has accelerated its decline, with industrial-grade lithium carbonate falling RMB 7,500 per ton to RMB 302,500 per ton today.

New price agreements between Chinese power battery giant and some local automakers are expected to be reached this month, at a time when battery raw material prices continue to fall.

CATL's lithium rebate policy is progressing steadily, and it is now at the practical stage of signing agreements with some car companies, local media Cailian said today, citing sources close to the battery maker.

These agreements are expected to be reached by the end of this month at the earliest, the source said.

CATL's plan was first reported on February 17 by local media outlet 36kr, which said it is not aimed at all customers, but rather at several strategic customers, including (NYSE: NIO), (NASDAQ: LI), and .

The core terms of the partnership include that CATL will settle a portion of the price of power battery supply with car companies at a rate of RMB 200,000 ($28,970) per ton of lithium carbonate for the next three years.

At the same time, car companies signing the partnership will be required to commit about 80 percent of their battery purchases to CATL, according to the report.

CATL management first acknowledged the move during the company's earnings call on March 9.

CATL's lithium sharing plan is not for the purpose of lowering prices, but rather the company already has some mineral resources and does not want to reap windfall profits, its management said.

CATL wants to be able to share with long-term strategic customers and is moving forward with communications to that end, the company said.

Prior to that, Li Auto and NIO both said that they had ongoing discussions with CATL when asked about the topic in their respective earnings calls.

CATL's move comes as lithium carbonate has been falling for months.

Today's quotes for industrial-grade lithium carbonate and battery-grade lithium carbonate in China were both down RMB 7,500 per ton, with the latest average prices at RMB302,500 per ton and RMB 340,000 per ton, respectively, according to My Steel.

($1 = RMB 6.9040)

CATL confirms it's negotiating new prices with EV makers

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BAIC CATL China Deals Electric eMobility eV

CATL, BAIC sign deal to jointly develop battery products

will participate in the vehicle development and production of BAIC-affiliated NEV companies, and provide power battery products and services.

(Image credit: CATL)

BAIC Group, which has lagged behind many of its local counterparts in the transition to electrification, appears to be stepping up its efforts.

CATL and BAIC signed a strategic cooperation agreement on March 13, in which they plan to jointly develop power battery products and tap into the new energy vehicle (NEV) market, according to a press release from the power battery giant yesterday.

CATL will participate in the vehicle development and production of BAIC-affiliated NEV companies and provide power battery products and services, according to the press release.

The two sides will build a close strategic partnership and cooperate fully in power batteries, the release said.

BAIC's efforts in the NEV market are mainly carried out by its subsidiary Beijing Electric Vehicle Co Ltd (BJEV), but its performance has been lukewarm.

BJEV sold 50,179 units for the full year 2022, up 92.06 percent from 26,127 units in 2021, but lags behind most Chinese electric vehicle startups, according to data released by its parent company BAIC BluePark New Energy Technology Co.

In the first two months of this year, BJEV sales were 4,812 units, up 42.16 percent from 3,385 units in the same period last year.

In August 2022, Bloomberg reported that smartphone giant Xiaomi was in talks with BAIC Group to collaborate on the production of electric vehicles, which could see vehicles built by BAIC BluePark and co-branded with .

BAIC Group later told local media that the company had "not heard of this."

That comes after BAIC BluePark announced on July 15 that it plans to raise up to 8 billion yuan ($1.16 billion) in additional shares to no more than 35 specific targets.

The stock offering is intended to increase the company's capital strength, as it continues to increase the size of its business and invest in product development amid the rapid growth of China's NEV industry, BAIC BluePark said at the time.

BAIC BluePark's share price has been weak over the past year and is currently down about 40 percent from its high last June.

($1 = RMB 6.8715)

Xiaomi reportedly in talks with BAIC to jointly build EVs

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BAIC CATL China Deals Electric eMobility eV

CATL, BAIC sign deal to jointly develop battery products

will participate in the vehicle development and production of BAIC-affiliated NEV companies, and provide power battery products and services.

(Image credit: CATL)

BAIC Group, which has lagged behind many of its local counterparts in the transition to electrification, appears to be stepping up its efforts.

CATL and BAIC signed a strategic cooperation agreement on March 13, in which they plan to jointly develop power battery products and tap into the new energy vehicle (NEV) market, according to a press release from the power battery giant yesterday.

CATL will participate in the vehicle development and production of BAIC-affiliated NEV companies and provide power battery products and services, according to the press release.

The two sides will build a close strategic partnership and cooperate fully in power batteries, the release said.

BAIC's efforts in the NEV market are mainly carried out by its subsidiary Beijing Electric Vehicle Co Ltd (BJEV), but its performance has been lukewarm.

BJEV sold 50,179 units for the full year 2022, up 92.06 percent from 26,127 units in 2021, but lags behind most Chinese electric vehicle startups, according to data released by its parent company BAIC BluePark New Energy Technology Co.

In the first two months of this year, BJEV sales were 4,812 units, up 42.16 percent from 3,385 units in the same period last year.

In August 2022, Bloomberg reported that smartphone giant Xiaomi was in talks with BAIC Group to collaborate on the production of electric vehicles, which could see vehicles built by BAIC BluePark and co-branded with .

BAIC Group later told local media that the company had "not heard of this."

That comes after BAIC BluePark announced on July 15 that it plans to raise up to 8 billion yuan ($1.16 billion) in additional shares to no more than 35 specific targets.

The stock offering is intended to increase the company's capital strength, as it continues to increase the size of its business and invest in product development amid the rapid growth of China's NEV industry, BAIC BluePark said at the time.

BAIC BluePark's share price has been weak over the past year and is currently down about 40 percent from its high last June.

($1 = RMB 6.8715)

Xiaomi reportedly in talks with BAIC to jointly build EVs

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Blade battery BYD BYD Battery China Deals Electric eMobility eV Tesla

BYD says report that Tesla won’t extend battery supply partnership with it untrue

A spokesperson, responding to CnEVPost's request for comment, said the information was untrue and did not correspond to reality.

BYDDY.US | BYD HK | TSLA.US

(File photo shows BYD's blade battery. Credit: BYD)

will not continue to use BYD's batteries after its contract with the latter expires, according to a report in a South Korean media outlet yesterday. BYD denied it today.

Tesla has decided not to use BYD's batteries due to quality issues arising from a series of fire accidents with the latter's LFP (lithium iron phosphate) batteries, South Korea's Korea Economic Daily said in a report yesterday.

Tesla first used BYD's 10 GWh batteries last year for its low-end models in Europe, according to the report.

Earlier this year, Tesla did not request the additional supply of BYD batteries for the standard, low-cost trim version of the Model 3 after its contract to supply them expired, the report said, citing industry sources.

Fires in electric vehicles where BYD applied its own batteries have occurred several times in China, triggered by quality problems, the report said.

Contrary to BYD's explanation, there is no reason for Tesla to use BYD batteries as accidents become more frequent, a source from the battery industry said. That seems to be the reason for it, he said.

Tesla's reliance on LG Energy Solution, which is accelerating the development of LFP batteries for electric vehicles at Tesla's request, is expected to grow, according to the report.

Tesla uses LG Energy Solution and in Europe and Panasonic products in North America. Existing companies will most likely fill BYD's vacancy, the report noted.

A BYD spokesperson, responding to CnEVPost's request for comment, said the information was untrue and did not correspond to reality.

In February 2022, rumors surfaced that Tesla had officially placed an order with BYD's battery manufacturing division, FinDreams Battery, for blade batteries for 204,000 vehicles per year.

In early June 2022, BYD executive vice president Lian Yubo said in an interview with state-owned media outlet CGTN host Kui Yingchun that BYD would soon be supplying batteries to Tesla.

Lian provided no further details at the time, and a video of that interview posted on Weibo was subsequently deleted.

On August 10, 2022, Sina Tech cited multiple sources familiar with the matter as saying that BYD's blade battery supplies to Tesla had already begun to be delivered to the latter's plant in Berlin, Germany, the first Tesla Gigafactory to use BYD batteries.

Tesla's competitive relationship with BYD is also one of the reasons it will not extend its contract in Europe, according to Korea Economic Daily. Tesla asked LG Energy Solution to develop LFP batteries to keep its electric vehicle rival in check, the report said.

In October 2022, Steve Westly, a former Tesla board member and founder of Westly, said the only one that can truly compete with the US electric vehicle giant on a global scale is BYD.

"For the first time, I think there is a real challenger and that challenger's name is BYD," Westly said in a CNBC interview that aired on October 20 of last year.

"BYD will likely hit one million EV units produced and sold this year. That's something that should keep your eye on," he said, adding, "In contrast, it is good to compare, Ford, probably has 60,000 units and GM struggling to hit 50,000 units. They are barely 4 to 5 percent of Tesla."

So right now, it looks like it's Tesla and the Chinese battle, Westly said.

BYD sold 1,863,494 new energy vehicles (NEVs) in 2022, including 946,239 plug-in hybrid passenger cars, 911,140 pure electric passenger cars, and 6,115 commercial vehicles, according to data monitored by CnEVPost.

For comparison, Tesla delivered 1,313,851 vehicles worldwide in 2022, with 439,770 delivered to Chinese consumers.

Charlie Munger, a renowned US investor, said on February 15 that Tesla pales in comparison to BYD in China.

"Tesla last year reduced its prices in China twice. BYD increased its prices. We are direct competitors. BYD is so much ahead of Tesla in China, it's almost ridiculous," Munger said.

In addition to being an NEV giant, BYD is also one of the world's largest power battery manufacturers.

BYD installed 5.8 GWh of power batteries globally in January, up 78.8 percent from 3.3 GWh in the same month last year, according to a report released by South Korean market research firm SNE Research on March 6.

BYD ranked second globally with a 17.6 percent market share, up from the 11.6 percent share in the same period last year.

CATL installed 11.2 GWh of batteries globally in January, continuing to rank first with a 33.9 percent market share, but lower than the 37.6 percent share in the same month last year.

LG Energy Solution installed 4.3 GWh of power batteries in January, ranking third with a 13.0 percent market share, up from 10.1 percent in the same month last year.

BYD so far ahead of Tesla in China that 'it's almost ridiculous,' says Charlie Munger

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Battery Data Battery News BYD CABIA CALB CATL China Electric eMobility eV Gotion High-Tech LFP Batteries Monthly Data Ternary Batteries

China Feb EV battery installations: Total volume up 36% from Jan, CATL share down slightly

's share in February was essentially unchanged from January, while CALB's share grew significantly.

China's power battery installed base rebounded in February compared to January, though 's share declined slightly and CALB's share increased significantly.

In February, China's power battery installed base was 21.9 GWh, up 60.4 percent year-on-year and up 36.0 percent from January, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).

CATL's power battery installed base in February was 9.60 GWh, continuing to rank first with a 43.76 percent share, but down from 44.41 percent in January.

BYD installed 7.50 GWh of power batteries in February, ranking second with a 34.19 percent share, essentially unchanged from January's 34.12 percent share.

CALB saw significant market share gains in February, as the company installed 1.62 GWh of power batteries in the month, ranking third with a 7.39 percent share, up 2.46 percentage points from 4.93 percent in January.

Gotion High-tech ranked fourth with an installed base of 0.78 GWh and a 3.58 percent share in February, while Eve Energy ranked fifth with an installed base of 0.71 GWh and a 3.25 percent share.

China's ternary Li-ion battery installed base in February was 6.7 GWh, accounting for 30.6 percent of total installed base, up 15.0 percent year-on-year and up 23.7 percent from January.

The installed base of LFP batteries was 15.2 GWh, accounting for 69.3 percent of the total installed base, up 95.3 percent year-on-year and up 42.2 percent from January.

In the ternary Li-ion battery market, CATL ranked first with 65.53 percent of the total installed base of 4.40 GWh in February.

CALB and LG Energy Solution ranked second and third in the ternary battery market with 10.93 percent and 7.49 percent shares, respectively.

In the LFP battery market, BYD installed 7.50 GWh in February, topping the list with a 49.37 percent share, the second consecutive month it ranked first in this segment.

BYD's power batteries are mainly LFP batteries, which are mainly used in the company's own new energy vehicle (NEV) models.

CATL ranked second in the LFP market with 34.19 percent of the total installed base of 5.20 GWh in February.

CALB and Gotion High-tech ranked third and fourth in the LFP battery market with 5.84 percent and 4.82 percent shares, respectively.

CATL's share in global EV battery market slips in Jan, BYD rises

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CATL China Electric eMobility eV Li Auto Lithium Lithium Prices Nio Zeekr

CATL confirms it’s negotiating new prices with EV makers

's lithium sharing program is not for price reduction purposes, but rather the company already owns some mineral resources and doesn't want to reap windfall profits, its management said.

Last month it was reported that CATL was pushing a lithium rebate program to electric vehicle (EV) makers to drive down the cost of battery purchases for a handful of customers. Now, for the first time, the power battery giant has acknowledged the move.

CATL's lithium-sharing program is not for the purpose of lowering prices, but rather the company already owns some mineral resources and doesn't want to reap windfall profits, its management said Thursday.

The company released its 2022 annual report Thursday and held an investor call afterward in which its management made those comments, according to a meeting minutes it released today.

CATL hopes to be able to share with long-term strategic customers and is moving forward with relevant communications, the company said.

On February 17, local media outlet 36kr first reported on CATL's plan, saying it was not for all customers, but for several strategic customers including (NYSE: NIO), (NASDAQ: LI), and .

The core terms of the partnership include that CATL will settle a portion of the price of power battery supply with car companies at a rate of RMB 200,000 ($28,720) per ton of lithium carbonate for the next three years.

At the same time, automakers signing the partnership will be required to commit about 80 percent of their battery purchases to CATL, according to the report.

CATL did not confirm the report at the time, though Li Auto and NIO both mentioned the program in their respective subsequent earnings calls.

In response to the rumored new pricing arrangement, Li Auto and CATL were in negotiations, the EV maker said during an analyst call following the February 27 announcement of its fourth-quarter earnings.

Whether it's lithium price concessions or battery prices linked to raw materials, it would be good news if battery prices could be brought back to a rational range, Li Auto's management said.

Asked about the topic during a conference call on March 1, NIO's management said the company is also in the process of discussions with CATL.

"Of course, we will maintain a long-term strategic relationship with CATL, and we are discussing some new pricing mechanisms with them," said William Li, NIO founder, chairman and CEO.

Battery makers also recognize that they must share the price volatility of battery materials with car companies, Li said at the time.

Back at CATL, the company's annual report, released yesterday, showed it posted a 39 percent quarter-on-quarter increase in net profit in the fourth quarter and further improved gross margins to 22.57 percent.

CATL's management, when asked about the lithium industry overhaul in Yichun, Jiangxi, said it had essentially no impact on the company, and its projects there are moving forward as planned.

The overhaul is mainly aimed at correcting the chaos in local lithium mining, which is beneficial to compliant companies in the long run, CATL's management said.

In Yichun, nicknamed the "lithium capital of Asia," local lithium miners have shut down production for an industry-wide overhaul, Yicai reported on February 26.

Analysts fear that this may bring disruption to the lithium supply, thus halting the downward trend in lithium prices. But such fears have not materialized.

Lithium carbonate prices have continued to fall over the past two weeks, with battery-grade lithium carbonate falling to RMB 367,000 per ton on March 9 and industrial-grade lithium carbonate falling to RMB 332,500 per ton, both one-year lows.

($1 = RMB6.9643)

CATL reportedly cutting battery costs significantly for some clients including NIO, Li Auto

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CATL China Earnings Electric eMobility eV

CATL sees Q4 net profit up 39% QoQ, gross margin improves further to 22.57%

's capacity utilization was 83.4 percent in 2022, down from 95 percent in 2021.

CATL saw a solid performance in the fourth quarter, with its key businesses seeing strong growth.

The Chinese power battery giant achieved revenue of RMB 118.25 billion ($16.98 billion) in the fourth quarter, up 107.49 percent year-on-year and up 21.44 percent from the third quarter, according to its annual report released Thursday.

The company's net profit attributable to shareholders reached RMB 13.14 billion in the fourth quarter, up 60.64 percent year-on-year and up 39.49 percent from the third quarter.

CATL's gross margin further improved to 22.57 percent in the fourth quarter, up from 19.27 percent in the third quarter.

Previously, CATL's gross margin continued to decline in 2021, dropping to 14.48 percent in the first quarter of 2022 due to a large increase in battery raw material prices.

CATL's revenue for the full year 2022 was RMB 328.59 billion, up 152 percent year-on-year, and net profit was RMB 30.73 billion, up 92.89 percent year-on-year.

The company's gross margin in 2022 were 20.25 percent, a decrease of 6.03 percentage points from 2021.

CATL's revenue mainly comes from its power battery systems business, energy storage systems business and battery materials and recycling business.

Its power battery systems business generated revenue of RMB 236.6 billion in 2022, up 158.6 percent year-on-year, contributing 72 percent of the company's revenue.

CATL's actual battery systems capacity in 2022 was 390 GWh, up 128.9 percent year-on-year. It has 152 GWh of capacity under construction.

It had 325 GWh of battery system production in 2022, up 100 percent year-on-year, with full-year sales reaching 289 GWh, up 116.6 percent year-on-year.

It has a battery inventory of 70 GWh in 2022, up 75.2 percent year-on-year.

Notably, with rapid capacity expansion, CATL's capacity utilization rate was 83.4 percent in 2022, down from 95 percent in 2021.

CATL's energy storage systems business generated revenue of RMB 44.98 billion in 2022, up 230.16 percent year-on-year, contributing 13.69 percent of total revenue.

Its energy storage systems business saw a large decline in gross margin, which was 17 percent in 2022, 11.51 percentage points lower than in 2021, a much larger decline than other businesses.

This is because energy storage orders are mostly long-term orders, and compared to power batteries, energy storage batteries are more sensitive to price fluctuations, making it difficult to negotiate directly with customers for price increases in the short term.

CATL's battery materials and recycling business generated revenue of RMB 26.03 billion in 2022, up 94.7 percent year-on-year, contributing 7.92 percent of total revenue.

The battery materials and recycling business gross margin remained largely stable, declining only 2.36 percentage points to 21.23 percent in 2022.

Citi analyst Jack Shang said in a research note that CATL's reported results were in line with previous forecasts, and they are bullish on the company's strong pricing power and overseas customer channel as a leader in the battery industry.

Citi raised its earnings forecast for CATL by 4 percent for this year and 2 percent for next year to RMB 39 billion and RMB 49 billion, respectively, maintaining it as a top pick in the industry.

Citi expects CATL's battery sales could reach 402 GWh this year, up 39 percent year-on-year.

($1 = RMB 6.9648)

CATL's share in global EV battery market slips in Jan, BYD rises

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China Electric eMobility eV Regulatory Filing Tesla XPeng XPeng G6

Regulatory filing: Here’s what XPeng G6 SUV looks like and core specs

Previous reports suggested that the new new SUV would start at RMB 200,000-250,000 and is expected to be unveiled at this year's Shanghai auto show.

XPEV.US | 9868.HK

The latest regulatory filings reveal XPeng's (NYSE: XPEV) new SUV, which is expected to be released in a few months, as the electric vehicle (EV) maker looks to accelerate its new product launches this year.

China's Ministry of Industry and Information Technology (MIIT) today announced the latest batch of models that will be allowed to be sold in China, and XPeng's new SUV, the G6, is included in the list.

The public can submit feedback on the list between March 9 and March 15. Entry into the catalog is the last major regulatory process before a model is allowed to be sold in China.

There are three versions of the XPeng G6 in the catalog, including two single-motor versions and one dual-motor version.

One of the two single-motor versions will be powered by a lithium iron phosphate battery pack, while the other single-motor version and the dual-motor version will both be powered by the more costly ternary lithium batteries.

The XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, according to these filing pages.

The model appears to be the one previously mentioned by XPeng management to compete with 's (NASDAQ: TSLA) Model Y, which measures 4,750 mm in length, 1,921 mm in width, 1,624 mm in height and has a wheelbase of 2,890 mm.

Both single-motor versions of the XPeng G6 are equipped with a motor with 218 kW peak power, while the dual-motor version has an additional 140 kW peak power motor.

All three versions of the XPeng G6 will be equipped with battery cells supplied by 's local competitor CALB, and the battery packs will be manufactured at XPeng's plant in Wuhan, Hubei.

XPeng management said during an earnings call on August 23, 2022 that the company will release a B-segment vehicle in the first half of 2023 that will compete with the Tesla Model Y.

The model was previously seen as possibly being named the G7 or G5, although spy photos shared by some local media last month showed that it will be called the G6.

XPeng chairman and CEO He Xiaopeng said in a January 28 internal all-staff letter that the company will release two new models and revamp three existing older models in 2023, with a goal of delivering 200,000 vehicles for the year, according to a previous report by LatePost.

That report said at the time that the new XPeng SUV would start at RMB 200,000 ($28,680)-250,000 and was expected to be unveiled at this year's Shanghai auto show.

XPeng's current models on sale include the G3i, P5, P7 and G9, and the company has officially unveiled the P7i, a facelift of the P7, on March 6, but not the price. Earlier today, a media report said that XPeng may officially let the P7i go on sale and announce the price on March 10.

($1 = RMB 6.9711)

XPeng aims to deliver 200,000 vehicles in 2023, report says

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