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China Electric eMobility eV Industry News price war Tesla

Chinese industry regulator says automakers should not compete with abnormal prices

Auto industry players should not disrupt fair competition with abnormal prices and should avoid cutting prices in a reckless manner, a MIIT official said.

(Image credit: CnEVPost)

Price wars are clearly not what China's main industry regulator wants to see.

An official from China's Ministry of Industry and Information Technology (MIIT) said at the 2023 China Auto Forum in Shanghai on July 6 that participants in the country's auto industry should not compete with abnormal prices, according to a report on state broadcaster CCTV today.

So far this year, the Chinese auto industry has seen the largest wave of price cuts in its history, including more than 100 models from more than 30 brands, some at any cost, the report noted.

In response to the phenomenon, the MIIT source said that the development of China's auto industry has entered a new phase, with new energy vehicles (NEVs) forming a certain lead and auto companies should regulate their marketing activities, the report said.

Auto industry players should not disrupt fair competition with abnormal prices and should avoid reckless price cuts, while strengthening technological innovation and improving product quality, the MIIT official Miao Changxing was quoted as saying in the report.

Yesterday, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers jointly signed a pledge to maintain fair market order in the auto industry.

The 16 car companies include , , , , , SAIC, and Great Wall Motor, who pledged to maintain a fair competition order and not to disrupt the order in the market with abnormal prices.

The initiative is just the beginning, and further restraint on bad behavior, including malicious price cuts, will depend on self-regulation and regulatory means, Fu Bingfeng, executive vice-president and secretary general of the CAAM, was quoted by CCTV in the report today.

Separately, Xu Changming, vice director of the National Information Center, said yesterday at the 2023 China Auto Forum that Tesla's average profit per vehicle is high enough that it has ammunition if it wants to fight price wars.

Tesla has previously cut its price in China by RMB 30,000 yuan ($4,140), and its average profit per vehicle is $10,426, leaving room for a 40,000 yuan price cut if the price war continues, Xu said, according to a video circulating on social media.

The calculation is based only on Tesla's 1.31 million global deliveries last year, and if it reaches its 1.8 million delivery target this year, then costs are expected to fall further, Xu noted.

Tesla's average profit per vehicle is 8.5 times that of BYD, whose figure last year was RMB 8,854 yuan per vehicle, according to Xu.

($1 = RMB 7.2401)

Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market

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BYD CAAM China Electric eMobility eV Industry News Li Auto Nio Tesla XPeng

Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market

These car companies have pledged to regulate their marketing activities and not to disrupt the order of fair competition in the market with abnormal prices.

(Image credit: CnEVPost)

More than 10 car companies, including major electric vehicle (EV) startups, have pledged to jointly maintain a fair market order in China's auto market, at a time when the EV industry is growing rapidly.

At the 2023 China Auto Forum in Jiading, Shanghai, today, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers signed a pledge to uphold fair market order in the automotive industry.

This is to maintain a good auto market order, jointly create a good consumer environment, and actively stabilize and promote auto consumption, they said at the conference.

The car companies that signed the commitment include:

China FAW, Dongfeng Motor, SAIC, Changan Automobile, BAIC, GAC, China National Heavy Duty Truck, Chery, JAC, , Great Wall Motor, , , , , and .

The following is the main content of the commitment letter:

First, we will abide by the rules and regulations of the industry, regulate marketing activities, maintain a fair competition order, and not disrupt the fair competition order of the market with abnormal prices.

Second, we will pay attention to marketing methods, will not exaggerate or conduct false marketing, not to mislead consumers to attract attention and increase customer acquisition.

Third, we will put quality first, use quality-oriented, high-quality products and services to meet the people's needs for a better life.

Fourth, we will actively fulfill our social responsibility, and take an active role in helping to stabilize economic growth, increase confidence and prevent risks, and work together to make a contribution to national economic growth.

It should be noted that the commitment is self-regulatory and not legally binding, and it was signed after the price war at the beginning of the year and the emergence of a war of words between several EV companies and their supporters.

Since early March, a rare price war has erupted in China's auto industry, which has not boosted sales but has instead triggered a wait-and-see mood among consumers, resulting in car sales not seeing an increase.

On March 22, the CAAM called for the hype about price cuts in China's auto industry to cool down to return the industry to normal operation and ensure healthy and stable development of the industry throughout the year.

After that, the price war in China's auto industry gradually subsided.

It is worth noting that although these car companies pledged today not to disrupt the fair order with abnormal prices, it does not mean that they cannot cut prices when facing future challenges.

Local brands expected to capture over 50% of China's auto market for 1st time this year, AlixPartners says

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China Deliveries Electric eMobility eV EV Data Monthly Data Zeekr

Zeekr delivers 10,620 vehicles in Jun, begins offering large purchase benefits

is offering customers who buy the Zeekr 001 at least RMB 28,000 worth of option benefits in the third quarter, as it aims to deliver about 140,000 vehicles this year.

's premium electric vehicle (EV) brand Zeekr is back above the 10,000-unit mark in monthly deliveries and is starting to offer limited-time benefits for its flagship model to meet annual delivery targets.

Zeekr delivered 10,620 units in June, up 146.86 percent year-on-year and up 22.38 percent from May, according to data released today.

This is the fifth sequential increase in monthly deliveries for Zeekr. It delivered above 10,000 units each month in the fourth quarter of last year, but deliveries fell to 3,116 units in January, due in part to a plant shutdown for an upgrade.

In the second quarter, Zeekr delivered 27,399 vehicles, up 154.42 percent year-on-year and up 79.85 percent from the first quarter.

In the first half of the year, Zeekr delivered 42,633 vehicles, up 124.27 percent from 19,010 vehicles in the same period last year.

Zeekr aims to double its deliveries this year from last year to about 140,000 units, which means it will need to deliver an average of about 16,230 vehicles per month in the second half of this year.

At the end of June, Zeekr's cumulative deliveries since its inception stood at 120,581 vehicles, according to data monitored by CnEVPost.

Zeekr was officially launched as an independent company in March 2021, with its first model, the Zeekr 001, launched on April 15, 2021, and deliveries beginning in October 2021.

On November 1, 2022, Zeekr's second model, the Zeekr 009 MPV, was launched, and its deliveries began on January 15.

On April 12, Zeekr launched its third model, the Zeekr X, and its deliveries in China began on June 12.

To meet full-year sales targets and to address the increasingly competitive EV market, Zeekr today announced the start of a limited-time free option benefit for the Zeekr 001, valid from July-September.

Chinese consumers will receive a free blue exterior trim valued at RMB 6,000 ($830) with the purchase of the entire Zeekr 001 model line.

The Zeekr 001 is currently available in four versions -- WE with a 100-kWh battery pack, WE with an 86 kWh battery pack, ME with a 100 kWh battery pack and YOU with a 100 kWh battery pack, with starting prices of RMB 300,000, RMB 300,000, RMB 349,000 and RMB 349,000 respectively.

Customers who purchase the WE version in the third quarter will receive a free option fund worth RMB 28,000 to receive upgrades including a 100-kWh battery pack, dual-motor 4WD, or air suspension.

Customers who purchase the Zeekr 001 ME Edition will receive a free optional air suspension package worth RMB 28,000.

Customers who purchase the YOU Edition model will receive a free optional Z-Sport package worth RMB 35,000, according to Zeekr.

In addition, customers who purchase the Zeekr 001 YOU Edition can also receive free lifetime charging rights or one-time credits worth RMB 12,000.

Zeekr also offers limited-time loan offers for all models, including a 2-year 0 percent interest, or 5-year 1.99 percent low-interest finance package capped at RMB 200,000.

($1 = RMB 7.2523)

Zeekr deliveries in Jun: 10,620

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China Electric eMobility eV HK Listing Industry News RoboSense

LiDAR maker RoboSense files for HK listing

In 2022, RoboSense had 953 customers, including , , Great Wall Motor, , Lotus and Lucid.

(Image credit: RoboSense)

RoboSense Technology has filed for a Hong Kong IPO and is expected to become the second Chinese LiDAR maker to go public after Hesai Group.

RoboSense's prospectus was made public on the HKEX website today, with JPMorgan and China Renaissances as co-sponsors.

The number of shares RoboSense plans to issue or the amount of capital it plans to raise has not been announced, but the prospectus provides details about its business.

RoboSense was founded in 2014 and its RS-LiDAR-M1 was the world's first mass-produced solid-state LiDAR, with mass production and delivery beginning in June 2021.

In 2022, RS-LiDAR-M1P, an upgraded version of RS-LiDAR-M1, achieves mass production.

Sales of RS-LiDAR-M1 and RS-LiDAR-M1P were 36,600 units and 4,300 units respectively in 2022.

RoboSense demonstrated the new product RS-LiDAR-E1 at its Tech Day event on November 7, 2022, and will begin mass production in the second half of 2023.

As of March 31, RoboSense has received expected orders for 52 models of LiDAR from 21 car companies and Tier 1 suppliers, of which 9 models have already started production, according to its prospectus.

In 2022, RoboSense has 953 customers, including primarily Geely, GAC Aion, Great Wall Motor, Xpeng, Lotus, and Lucid.

Since inception, RoboSense has delivered more than 100,000 LiDARs cumulatively as of the end of the first quarter.

RoboSense's revenues for 2020 to 2022 were RMB171 million ($23.5 million), RMB331 million, and RMB530 million, respectively.

Like many other tech startups, RoboSense is still in the red.

From 2020 to 2022, RoboSense recorded net losses of RMB 220 million, RMB 1.65 billion, and RMB 2.09 billion, respectively.

Its adjusted net losses for these three years were RMB 59.9 million, RMB 108 million, and RMB 563 million, respectively. These adjustments include the exclusion of share-based compensation, changes in the value of financial instruments issued to investors, and listing expenses.

RoboSense entered into a supply partnership with at the end of 2021 and announced on February 6 this year a supply partnership agreement with Toyota to supply LiDARs for a number of the latter's models.

RoboSense is set to become the second Chinese LiDAR maker to go public, after its local counterpart Hesai was listed in the US on February 10.

Hesai, also founded in Shanghai in late 2014, initially focused on developing high-performance laser sensors and has been exploring driverless LiDAR products since 2016.

($1 = RMB 7.2689)

Shanghai auto show: EVs take center stage, nearly 40 models equipped with LiDARs

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China Electric eMobility eV Insights Policy Research Note

China’s extended tax breaks should facilitate steady EV sector growth, Fitch says

PHEVs get the same tax exemption as BEVs, and the extension of the tax break will attract more automakers to the market, Fitch said.

(Image credit: CnEVPost)

China last week extended tax incentives for new energy vehicles (NEVs) for four years, a move that in the view of international credit rating agency Fitch Ratings could help renew electrification momentum.

China's extension of tax breaks for electric vehicle (EV) purchases should facilitate steady growth in the sector, while the continued coverage of subsidies for plug-in hybrid electric vehicles (PHEVs) reinforces Fitch's view that such vehicles will be a key catalyst for China's transition to EVs, analyst Jing Yang's team said in a June 28 research note.

On June 21, China's Ministry of Finance announced that NEVs with a purchase date between January 1, 2024, and December 31, 2025, will continue to be exempt from vehicle purchase tax, but the exemption will not exceed RMB 30,000 yuan ($4,340) per vehicle.

For NEVs with a purchase date between January 1, 2026 and December 31, 2027, the vehicle purchase tax will be levied at half the normal rate, with a tax reduction of no more than RMB 15,000 per vehicle.

"We believe the renewal of tax waivers for consumers purchasing EVs until end-2025 aligns with market expectations. Purchase taxes will be halved in 2026-2027 and then return to normal levels," Fitch said.

Sales of PHEVs, including extended-range electric vehicles (EREVs), will continue to grow rapidly under the updated policy, with these vehicles receiving the same tax exemption as battery electric vehicles (BEVs), the note said.

PHEVs are a close substitutes to traditional internal combustion engine vehicles because drivers do not suffer from mileage anxiety or charging inconvenience, and are therefore widely seen as a transitional product before the market shifts completely to BEVs, Fitch said.

PHEVs' share of China's EV market soars from 17 percent in 2021 to 28 percent in January-May 2023, Fitch said.

Competition in the PHEVs segment has intensified, and the extension of tax breaks will attract more automakers to the market, according to the note.

Plug-in hybrids are an easier sub-segment for traditional automakers to compete in than BEVs, with Great Wall Motor, and Changan Automobile all launching competitively priced plug-in hybrids this year, Fitch said.

Joint venture brands, despite having a firmer foothold in the market, have been slowed due to their global parent companies' focus on BEVs and less attractive pricing, the note said.

Tax breaks for high-end EVs will remain in place, which could ease local automakers' concerns about upgrading to premium EV brands, did not expect the waivers to be renewed, and should incentivize traditional luxury carmakers to transition faster toward EVs, Fitch said.

The latest program exempts consumers who buy battery swap-enabled EVs from the battery tax for the first time, Fitch noted, saying it expects this to benefit EV brands selling high-end BEVs with battery swap capability and to encourage automakers to adopt the model.

Overall, Fitch believes the subsidy extension will have little impact on EV sales in China in 2023 and continues to forecast EV deliveries to grow by more than 30 percent during the year and EV market penetration to reach 35 percent.

However, the extension could reduce front-loaded purchases in the fourth quarter of 2023, as consumers will no longer be eager to take advantage of expiring tax breaks, Fitch said.

($1 = RMB 7.2506)

China's Ministry of Finance explains in detail how consumers will enjoy NEV tax breaks in 2024-2027

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China Electric eMobility eV Zeekr Zeekr 001 Zeekr Europe Zeekr X

Zeekr starts pre-sales of Zeekr 001 and Zeekr X in Europe, deliveries to start within this year

's first direct offline stores will open in the Netherlands, Sweden by the end of the year, and it will be in most of Western Europe by 2026.

(Zeekr 001. Image credit: CnEVPost)

Holding Group's premium electric vehicle (EV) brand Zeekr has started pre-sales of two models in Europe, after announcing plans to enter the market two months ago.

Zeekr is bringing the Zeekr 001 shooting brake as well as the Zeekr X city SUV to Europe with starting prices of 59,490 euros ($65,150), and 44,990 euros, respectively, according to a press release today.

Both models will go on sale first in Sweden and the Netherlands, with first deliveries expected to begin within the year, Zeekr said.

Similar to its local counterpart (NYSE: Nio), Zeekr will bring its direct sales model from China to Europe.

Zeekr's first direct offline stores will open in Stockholm, Sweden, and Amsterdam, Netherlands, by the end of the year, and it will be in most of Western Europe by 2026, according to the release.

(Zeekr X. Image credit: CnEVPost)

Zeekr was officially launched as an independent company in March 2021, with its first model, the Zeekr 001, launched on April 15, 2021, and deliveries in China starting in October 2021.

The Zeekr 001 is currently offered in four versions in China with starting prices of RMB 300,000 ($41,410), RMB 300,000, RMB 349,000 and RMB 386,000 respectively.

On November 1, 2022, Zeekr's second model, the Zeekr 009 MPV, was officially launched, and its delivery started on January 15.

On April 12, Zeekr unveiled its third model, the Zeekr X, and its deliveries in China began on June 12.

The Zeekr X is currently offered in three versions in China, with starting prices of RMB 189,800, RMB 209,800 and RMB 209,800 respectively.

On April 18, Zeek announced its European strategy on the first day of the Shanghai auto show, stating that its European headquarters will be located in Amsterdam.

In the Netherlands, Zeekr offers three versions of the Zeekr 001 with starting prices of 59,490 euros, 62,490 euros and 67,490 euros respectively. Zeekr X is offered in two versions in the Netherlands with starting prices of 44,990 euros and 49,490 euros respectively.

In Sweden, the Zeekr 001 is available in three versions starting at 677,000 SEK ($62,760), 707,000 SEK and 757,000 SEK. The Zeekr X is available in two versions in Sweden starting at 550,000 SEK and 595,000 SEK.

The Zeekr 001 and Zeekr X were developed at Zeekr's global design and development center in Gothenburg, Sweden, the company said in April.

Zeekr's European team of more than 1,500 engineers and designers is already in place and has produced multiple models for the Geely. Their long-standing experience has been a core strength of Zeekr's successful entry into Europe, the company said.

Zeekr delivered 8,678 vehicles in May, bringing January-May deliveries to 32,013, up 117.66 percent from the same period last year, according to figures released earlier this month.

The company is aiming to double deliveries this year from last year's 71,941 units to about 140,000.

($1 = 0.9131 euros, $1 = RMB 7.2445, $1 = 10.7870 SEK)

Zeekr starts delivery of Zeekr 001 with CATL Qilin Battery, CLTC range up to 1,032 km

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China Deliveries Electric eMobility eV Industry News Smart Smart #3

Smart begins Smart #3 deliveries in China 20 days after launch

The first Smart #3 vehicles were delivered in 41 cities. To date, Smart has completed 164 offline stores in China.

(Image credit: CnEVPost)

The tight pace of new models from launch to delivery is one of the most important features of the highly competitive Chinese electric vehicle (EV) market.

Smart Automobile, a joint venture between and Mercedes-Benz, began deliveries of the Smart #3 in China yesterday, just 20 days after the model's official launch.

Smart announced on Wednesday that the first Smart #3 vehicles were delivered in 41 cities, including Shanghai, Beijing, Nanjing, Chengdu and Xi'an, without disclosing the exact number of vehicles delivered.

(Image credit: Smart)

Smart officially launched the Smart #3 in China at an event on June 1, its second model after the Smart #1 following its electrification transition.

The Smart #3 is available in three regular versions -- Pro+, Pulse and Premium -- starting at RMB 209,900 ($29,240), RMB 239,900 and RMB 255,900 respectively.

The model is also available in a limited edition Brabus Performance version of only 1,999 units at RMB 289,900.

The car is positioned as a coupe SUV with a length, width and height of 4,400/4,542 mm, 1,844 mm and 1,556 mm respectively, and a wheelbase of 2,785 mm.

The Smart #1 measures 4,270 mm in length, 1,822 mm in width and 1,636 mm in height, and has a wheelbase of 2,750 mm.

This means that the Smart #3 is longer and wider than the Smart #1, but lower.

The Smart #3 is available with two power options, a single-motor version with 200 kW peak motor power and a dual-motor version with 115 kW and 200 kW peak front and rear motors, respectively.

It accelerates from 0 to 100 km/h in 5.4 seconds for the single-motor version and 4.3 seconds for the dual-motor version, and from 0 to 100 km/h in 3.6 seconds for the Brabus Performance version.

The model is available in three range versions with CLTC ranges of 520 km, 555 km and 580 km, and its battery pack is a ternary lithium battery from CALB and Sunwoda.

On June 18, Smart announced the opening of its flagship experience center in Shanghai, its fifth after Chengdu, Hangzhou, Guangzhou and Beijing.

Smart now has 17 stores in Shanghai, including one brand flagship center, four service centers and 12 retail showrooms. This year, Smart will add an additional eight stores in East China, it said.

To date, Smart has built 164 offline outlets in China, and the number is expected to exceed 200 by the end of this year, covering more than 60 first-tier, new first-tier and second-tier cities, it said.

Smart delivered 2,624 vehicles in China in May, down 40.23 percent from 4,390 units in April, according to data it released earlier this month.

Smart has delivered a cumulative total of 28,923 electric vehicles in China since last September, data monitored by CnEVPost show.

($1 =RMB 7.1795)

Chinese Lithium giant Tianqi reportedly mulling stake in Mercedes-Geely JV Smart

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China Deals Electric eMobility eV Industry News Meizu Polestar

Polestar partners with Geely’s Meizu to make in-car operating system that caters to Chinese consumers

Polestar will own 49 percent of the joint venture, with Xingji Meizu holding the remaining 51 percent.

(Image credit: CnEVPost)

After acquiring smartphone maker Meizu last year, is integrating it with car brands under its umbrella.

Swedish electric vehicle (EV) maker Polestar said today it has formed a joint venture with Xingji Meizu to build an operating system for Polestar cars sold in China.

Polestar will own 49 percent of the joint venture, with Xingji Meizu holding the remaining 51 percent, according to a statement.

The joint venture will build on Xingji Meizu's existing operating system, Flyme Auto, for Polestar's smart operating system, Polestar OS, for the Chinese market.

The system can be integrated with cell phones, augmented reality smart terminals and user service applications to create a borderless digital ecosystem, Polestar said.

China is one of the fastest-growing EV markets in the world, with distinct consumer trends, notably the deep integration of consumer electronics and cars, said Polestar CEO Thomas Ingenlath.

Through this partnership, Polestar and Xingji Meizu will provide Chinese customers with an experience that exceeds expectations, he said.

Originally a brand acquired by Volvo Cars, Polestar became independent with joint funding from Geely and Volvo, focusing on premium EVs and based in Gothenburg, Sweden.

In June 2022, Polestar went public on NASDAQ through a merger with a SPAC (Special Purpose Acquisition Company).

Currently, Polestar's models are all produced in Chinese factories.

Meizu was one of the first smartphone manufacturers in China, founded in 2003, and became one of the best-known phone makers in the smartphone era. However, the company's market share has declined severely over the past few years.

On July 4, 2022, Hubei Xingji Shidai Technology, a cell phone company founded by Eric Li, founder and chairman of carmaker Zhejiang Geely Holding Group, announced the completion of its acquisition of a majority stake in Meizu.

Xingji acquired a 79.09 percent controlling interest in Meizu and gained sole control of the company.

Last November, Meizu released the system, called Flyme Auto, saying it was a continuation of the Flyme mobile operating system for the smart cockpit.

In March, the Xingji Meizu Group was officially launched, and its executives announced at the time that the company would focus on mobile and in-car systems, XR technology and forward-looking technologies going forward.

With the new joint venture, Polestar is no longer an EV company, but a technology company with multiple smart terminals, including cars and phones, Xingji Meizu CEO Shen Ziyu said today.

Polestar 4 launched in China with starting price of $50,870

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China Electric eMobility eV Nio Nio ET5 Touring Research Note

NIO ET5 Touring pricing ‘a pleasant surprise,’ says Morgan Stanley

While touring cars might be relatively niche compared to sedans, some comparable offerings in the market can still deliver monthly sales of about 10,000 units on a consistent basis, Tim Hsiao's team said.

(Image credit: CnEVPost)

(NYSE: NIO) officially launched the ET5 Touring yesterday, and its pricing looks competitive to analysts.

"Pricing of ET5 Touring is more competitive than we thought -- on par with the incumbent ET5 sedan at Rmb 298k+," Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors yesterday.

While the segment could be relatively niche, NIO management believes the ET5 Touring is likely to outsell its sedan version, the team noted.

In China, the available versions and pricing of the ET5 Touring are identical to those of the regular ET5 sedan.

Including the battery, the 75-kWh version starts at RMB 298,000 ($41,890) and the 100-kWh version at RMB 356,000.

Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.

Compared to the regular ET5, the ET5 Touring has more rear-seat headroom, and more vertical space in the trunk, while it also has a lower driving position, and the option for electrochromic sunroofs, Hsiao's team noted.

"Such retrofits will help increase the TAM of the ET5 family by attracting users who attach greater value to the in-car space," the team said.

It's worth noting that in China, derivatives of sedans are a niche market.

However, the unexpected success of the 001, the first model of 's Zeekr brand, has made such models increasingly popular.

For the full year 2022, Zeekr delivered 71,941 Zeekr 001s, reaching its goal of delivering 70,000 vehicles for the year.

While touring cars might be relatively niche compared to sedans, some comparable products in the market still manage to deliver monthly sales of about 10,000 units on a consistent basis, according to Hsiao's team.

In China, the competitive landscape in the touring market is relatively benign, with the main comparables coming mainly from foreign brands such as the Audi S4, Mercedes-Benz CLA and Volvo V60, according to the team.

Whether NIO can successfully ramp up sales of the ET5 Touring in the coming months to meet its goal of reaching 20,000 units per month in the second half of the year remains to be seen, the team said, adding that the company's management expects the ET5 family to contribute about 30 percent of sales.

The ET5 sedan, ET5 Touring and the new ES6 will dominate NIO's sales, Hsiao's team said.

NIO launched the new ES6, the most important model in its history, in China on May 24, with deliveries starting on launch night.

As with the new ES6, NIO produced some ET5 Touring vehicles in advance based on a combination of designer-recommended configurations, and its deliveries officially began today.

($1 = RMB 7.1136)

NIO launches ET5 Touring in China with same pricing as regular ET5

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China Deliveries Electric eMobility eV Zeekr Zeekr X

Zeekr begins deliveries of 3rd model, Zeekr X

Nearly 20 percent of 001 and Zeekr 009 owners have opted to buy an additional Zeekr X, Zeekr said.

(Image credit: Zeekr)

Zeekr, 's premium electric vehicle (EV) brand, has begun deliveries of the Zeekr X, its third production vehicle, which was officially launched two months ago.

Zeekr delivered the Zeekr X to its first owners in 25 cities in China today, according to a press release.

Zeekr was officially launched as an independent company in March 2021 with two other models, the Zeekr 001 hatchback and the Zeekr 009 MPV, currently on sale.

The company delivered 8,678 vehicles in May, up 7.12 percent from 8,101 vehicles in April and its fourth sequential increase.

By the end of May, Zeekr's cumulative deliveries since inception stood at 109,961 vehicles, data monitored by CnEVPost show.

Zeekr launched the Zeekr X on April 12, and the model is produced at one of Geely's plants in Chengdu, Sichuan province in southwestern China, rather than the Ningbo plant in Zhejiang province where the Zeekr 001 and Zeekr 009 are produced.

The Zeekr X is available in three versions, one starting at RMB 189,800 ($26,580) and the other two at RMB 209,800.

The Zeekr X has been available for pre-order since launch, and the model is targeting 40,000 deliveries this year. Zeekr is aiming to double its overall deliveries this year from last year to about 140,000 units.

Nearly 20 percent of Zeekr 001 and Zeekr 009 owners have chosen to purchase an additional Zeekr X to meet the travel needs of different family members, the company said today.

The average order amount for the Zeekr 001 was RMB 336,000 and for the Zeekr 009 RMB 527,000, it said when it announced May delivery figures on June 1.

The Zeekr X is available in both a four-seat version and a five-seat version, and the company said today that 70 percent of consumers are now opting for the four-seat version.

($1 = RMB 7.1417)

Zeekr launches Zeekr X SUV to gain further share from market dominated by German luxury automakers

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