Tag: Li Auto

Li Auto delivers record 28,277 vehicles in May

Post author By Phate Zhang/CnEVPost
Post date June 1, 2023

This article is being updated, please refresh later for more content.

Li Auto's revenue exceeded RMB 10 billion ($1.4 billion) in May, the first time it has achieved that level of monthly revenue.

Li Auto provided guidance for second-quarter deliveries of 76,000 to 81,000 units when it reported first-quarter earnings on May 10.

The May deliveries announced today mean that it is expected to deliver between 22,042 and 27,042 units in June.

Li Auto's revenue exceeded RMB 10 billion ($1.4 billion) in May, the first time it has achieved that level of monthly revenue, said Li Xiang, founder, chairman, and CEO of Li Auto, adding that it lays a solid foundation for the company to surpass its revenue target of RMB 100 billion in 2023.

From January to May, Li Auto delivered 106,542 vehicles, up 124.87 percent from 47,379 vehicles in the same period last year.

By the end of May, Li Auto's cumulative deliveries since its inception were 363,876 units.

Li said on May 24 on Weibo that he set a goal for his team to reach 20,000 monthly sales of the company's five-seat SUV, Li L7, in October.

"Vendor partners, please trust us to keep up with capacity! " Li wrote.

On May 30, he said on Weibo that Li Auto's order and delivery volume exceeded 1,000 units per day for three consecutive weeks.

Li Auto's next major task is to boost supply chain availability, as the supply target set at the beginning of the year was a bit low, he said at the time.

($1 = RMB 7.1154)

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Tags Li Auto

China Electric eMobility eV Nio NIO ES6 Wait Times

NIO App stops showing wait time for new ES6

Post author By Phate Zhang/CnEVPost
Post date May 30, 2023

NIO has produced some new ES6 vehicles based on designer-recommended configuration combinations, and deliveries of customized vehicles will begin in mid-June.

(Image credit: CnEVPost)

NIO's (NYSE: NIO) mobile app has stopped showing the wait time for the new ES6, which previously showed an expected delivery date in May.

The electric vehicle maker officially launched the new ES6 in China on May 24, when it announced a starting price of RMB 368,000 ($51,920) including batteries.

Deliveries of the new ES6 started in 13 regions of China on the night of the launch on May 24, NIO announced on Weibo in the early morning hours of May 25.

This is NIO's fastest model from launch to delivery as it has changed its strategy to produce some vehicles earlier for quicker delivery.

NIO began production of the new ES6 based on designer-recommended configuration configurations, and if consumers purchase these vehicles, deliveries would officially begin on May 25, according to a May 24 post on the NIO App.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June.

Notably, NIO appears to still be in the process of ramping up capacity for the new ES6, and deliveries of the model appeared to be limited last week.

NIO vehicles had 1,600 insurance registrations last week, according to figures shared by its local peer Li Auto today.

This means that NIO's cumulative sales for the month through last week were about 5,300 units. NIO's numbers for the first three weeks of May were 1,100, 1,200 and 1,400 units, respectively.

Expected delivery dates for NIO's other models remain unchanged today, with the new ES8 set to begin delivery in June, the ES7 with a wait time of about 4 weeks, the EC7 with 5-7 weeks, the ET7 with about 3 weeks and the ET5 with 2-3 weeks.

($1 = RMB 7.0874)

Data table: Latest wait times for NIO models

(Screenshots on May 30.)

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Tags Li Auto, NIO

China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Neta Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending May 28: Li Auto 7,100, XPeng 2,100, NIO 1,600

Post author By Phate Zhang/CnEVPost
Post date May 30, 2023

NIO's cumulative sales so far this month were around 5,300 units, with the company launching and starting deliveries of the new ES6 on May 24.

For the week of May 22 to May 28, Li Auto (NASDAQ: LI) sold 7,100 vehicles, continuing to lead among China's new car brands, the company said today on Weibo.

Li Auto didn't explain what that sales volume was based on, but apparently, they were insurance registrations. The company had suspended sharing those numbers earlier this month, but has now resumed sharing them.

Last week's numbers mean that Li Auto sold 25,413 vehicles from May 1 to May 28. In the first three weeks of May, Li Auto's numbers were 4,543, 6,670 and 7,100 vehicles.

Li Auto is currently untroubled by the product switch, and its founder, chairman and CEO Li Xiang said on Weibo on May 24 that the company's five-seat SUV, Li L7, is expected to reach 20,000 monthly sales in October.

All of Li Auto's models currently on sale are extended-range electric vehicles (EREVs), with the other two models being the six-seat Li L9 and Li L8.

NIO (NYSE: NIO) sold 1,600 units last week, according to figures shared by Li Auto.

This means that NIO's cumulative sales for the month through last week were about 5,300 units. NIO's numbers for the first three weeks of May were 1,100, 1,200 and 1,400 units, respectively.

NIO officially launched the new ES6 on May 24, after the wait for the model by potential consumers seemed to have been holding down its sales.

Deliveries of the new ES6 began on the evening of May 24, although the vehicles were produced by NIO in advance rather than customized by consumers to their liking.

NIO began production of the new ES6 based on designer-recommended configuration combinations, and if consumers purchase these vehicles, official deliveries will begin on May 25, according to a May 24 post on the NIO App.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June.

XPeng (NYSE: XPEV) vehicles sold 2,100 units last week, up from 1,500 units the week before. The numbers were 870 and 1,500 in the first two weeks of May, respectively.

Since May 1, XPeng vehicles have sold 5,970 units this month.

Tesla (NASDAQ: TSLA) sold 12,800 units in China last week, up from 10,200 the week before, according to figures shared by Li Auto.

That figure for Tesla was 5,928 and 9,990 in the first two weeks of May and 38,918 cumulatively so far this month.

Zeekr was at 1,900 last week, down from 2,000 the week before and up from 1,500 in the second week of May. Its numbers for the first week of May are not available.

Neta sold 2,100 units last week, up from 1,500 the week before. That figure was 1,000 and 1,700 units in the first two weeks of May, for a cumulative total of 6,300 units so far this month.

Leapmotor sold 3,600 units last week, up from 3,000 the week before. That figure was 2,200 and 2,500 units in the first two weeks of May, and 11,300 units so far this month.

China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

The post China NEV insurance registrations for week ending May 28: Li Auto 7,100, XPeng 2,100, NIO 1,600 appeared first on CnEVPost.

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Tags Li Auto, Neta, NIO, Tesla, XPeng, Zeekr

China Electric eMobility eV MPV XPeng XPeng X9

XPeng CEO teases MPV model called X9

Post author By Phate Zhang/CnEVPost
Post date May 26, 2023

XPeng will open up the MPV market to a younger demographic with the X9, said He Xiaopeng, chairman and CEO of the EV maker.

XPeng (NYSE: XPEV) is starting to warm up for the company's first MPV (multi-purpose vehicle) model, after previously mentioning plans to build such a model.

In addition to the G6, XPeng has recently been building a new MPV, the X9, the Chinese electric vehicle (EV) maker's chairman and CEO He Xiaopeng said today on Weibo.

"We will open up the MPV market for the younger demographic with this product," Mr. He said.

Mr. He's Weibo didn't mention anything more, but was accompanied by a picture showing the logo of the MPV's name.

XPeng had mentioned last year that the company would launch its first MPV in 2023, and provided more details during its earnings call on May 24.

XPeng will launch a 7-seat all-electric MPV, internally codenamed X9, in the fourth quarter of this year, the company's management said in the call.

Mr. He's Weibo today implies that the model is being finally named X9.

XPeng is defining the 7-seat MPV thinking about how young people associate with MPVs and will go into more detail about the logic of young people buying MPVs at its launch at the end of the year, the company said.

In the second half of the year, gross margin levels will steadily improve with deliveries of the G6, P7i and the MPV, the company said in the Wednesday call.

There are few good MPVs to choose from in the Chinese market before 2022, with the most well-known being the Buick GL8 and the Toyota Alphard. There are even fewer new-energy MPVs.

Dongfeng Motor's EV subsidiary Voyah launched its MPV model Voyah Dreamer in China on May 7, 2022.

BYD's premium brand Denza launched its D9 MPV on May 16, 2022, and Zeekr launched its Zeekr 009 MPV on November 2.

Li Auto (NASDAQ: LI) is also expected to roll out its first MPV by the end of the year, though NIO (NYSE: NIO) has stressed several times that it has no plans to build such a model in the near future.

It's worth noting that the MPV market has been a niche segment in China.

Retail sales of passenger cars in China in April were 1,623,568 units, with 779,511 sedans, 748,503 SUVs and 95,554 MPVs, according to the China Passenger Car Association (CPCA).

This means that MPVs contributed only 5.9 percent of China's passenger car sales in April.

China Apr auto sales breakdown: Sedan 779,511, SUV 748,503, MPV 95,554

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Tags BYD, Li Auto, NIO, XPeng, Zeekr

China Electric eMobility eV Li Auto Smart Driving

Li Auto rapidly expanding smart driving and chip teams, report says

Post author By Lei Kang/CnEVPost
Post date May 25, 2023

Li Auto is hiring talent in China as well as abroad, and some of its core executives recently visited Silicon Valley, according to local media. | Li Auto US | Li Auto HK

(Image credit: CnEVPost)

Li Auto (NASDAQ: LI) is ramping up its R&D investment at a time when its major local peers are struggling with weak sales.

Li Auto's smart driving and chip teams are expanding rapidly, and the extended-range electric vehicle (EREV) maker is hiring talent in China and abroad, according to a report today in local media outlet 36kr.

Some of Li Auto's core executives, including senior vice president Fan Haoyu, smart driving vice president Lang Xianpeng, and product strategy chief Zhang Xiao, recently visited Silicon Valley and launched recruiting presentations at universities, the report said, citing industry sources.

As part of its efforts to ramp up recruitment of talent for its smart driving R&D team, Li Auto even asked employees to recommend resumes, according to the report.

In addition to its smart driving team, Li Auto's chip development team is also expanding, with a new chip lead, Luo Min, already on board to fill the position, which was vacant, the report said.

Li Auto's chip team had fewer than 100 people last year, and the company plans to expand it to about 200 this year, according to the report.

Li Auto invited some of Zeku's employees to talk about onboarding after cell phone maker OPPO shut down the chip design unit, the report said.

As China's new energy vehicle (NEV) industry enters 2023 with weak sales, NIO (NYSE: NIO) and XPeng (NYSE: XPEV) were seeing sales decline due to product switches.

In contrast, Li Auto maintained strong sales, delivering 25,681 vehicles in April, another monthly high and the second consecutive month over the 20,000-delivery mark.

Li Auto's 5-seat SUV, the Li L7, delivered more than 10,000 units in April, its first full month of deliveries.

On April 18, Li Auto unveiled its all-electric solution on the first day of the Shanghai auto show, along with its latest generation of assisted driving system, AD Max 3.0, and said the software will be free for life.

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 at the time.

Li Auto CEO predicts China NEV penetration to exceed 80% by Dec 2025

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Tags Li Auto, NIO, XPeng

China Electric eMobility eV Li Auto Nio NIO ES6

NIO’s local peers react to launch of new ES6

Post author By Phate Zhang/CnEVPost
Post date May 25, 2023

The launch of the new ES6 has triggered rare reactions from several of NIO's local counterparts, highlighting the fierce competition in China's EV market.

(Image credit: CnEVPost)

New model launches by local automakers rarely trigger reactions from their peers, and the new NIO ES6 is apparently one of those rare ones.

NIO officially launched the new ES6 in China last night, with its event starting at 7 pm and ending around 8:10 pm after announcing the price.

About a half hour after the event, Li Xiang, founder, chairman and CEO of Li Auto (NASDAQ: LI), said on Weibo that he had set a small goal in advance for his team to reach 20,000 monthly sales of the company's five-seat SUV, the Li L7, in October.

"Supplier partners, please trust us to keep up with capacity! " Li wrote at 8:40 pm yesterday.

Although Li did not mention NIO, he seemed to be reacting to the launch of the ES6, as the two models are seen as competitors in China, even though the ES6 is purely electric and the Li L7 is an extended-range electric vehicle (EREV) that can be refueled.

In contrast to that Li Auto CEO's hint, an executive from HiPhi, another local car company, commented directly on the launch of the new ES6.

"Congratulations to NIO on the launch of the new ES6! Also sharing some information with those who follow HiPhi," HiPhi's brand and communications manager Xu Bin said on Weibo at 8:52 pm yesterday.

HiPhi is in the process of finalizing the pricing for the HiPhi Y series, with the 560 km range version expected to be set at a starting price of RMB 369,000 ($52,220), he said.

The HiPhi Y is HiPhi's third model and will be the brand's cheapest all-electric vehicle, with Xu revealing a price just RMB 1,000 higher than the starting price of the NIO ES6.

"HiPhi Y will open for delivery in July this year. If you are in a hurry to buy a car, you can go test drive the ES6, and if you are not in a hurry, you can wait for HiPhi Y," he wrote.

Compared to the comments of the two above, the words of a SAIC-GM-Wuling executive were more friendly, probably because the company is not in direct competition with NIO.

"Another new car went on sale this evening, the model costs more than RMB 300,000 and no one says it's expensive," Zhou Jinkai, deputy general manager of SAIC-GM-Wuling's brand department, wrote on Weibo at 11:38 pm last night.

"It seems we still have to build up the brand, the product, the technology, all around," he said.

SAIC-GM-Wuling will launch a new mini EV model, the Baojun Yep, later today.

($1 = RMB 7.0663)

NIO officially launches new ES6, potentially lifting key factor holding back sales

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Tags Li Auto, NIO

China Electric eMobility eV Nio NIO ES6

NIO counting down to new ES6 launch, deliveries ready to go

Post author By Phate Zhang/CnEVPost
Post date May 24, 2023

Some auto bloggers on Weibo said NIO is gearing up for deliveries of the new ES6, which could start even as soon as the launch event is over.

NIO (NYSE: NIO) is counting down to the launch of the new ES6, with the model that will be key to reversing its weak sales trend less than eight hours away from its official launch.

Visitors to NIO's website can see the countdown, and as of press time, the launch event for the new ES6 is 7 hours, 30 minutes, and 30 seconds away.

The launch event of the new ES6 will begin at 7:00 pm Beijing time on May 24 (7:00 am US Eastern time on May 24), and viewers will be able to watch a live video stream on channels including the NIO App, NIO.com, and NIO Weibo.

NIO announced on May 16 that test drives of the new ES6 will be available starting on launch day and deliveries will begin on May 25.

This will be NIO's fastest model from official launch to delivery, as its local peers, including Li Auto (NASDAQ: LI), have proven that efficient delivery is critical to success in the highly competitive Chinese EV market.

Some auto bloggers on Weibo said that NIO is already preparing for deliveries of the new ES6, which could start even at the end of the launch event.

NIO originally said deliveries of the new ES6 would start on May 25, but because buyers want to get their hands on the new car as soon as possible, deliveries could start tonight, according to Wu Ying, an auto blogger with 970,000 followers on Weibo.

"What I know so far is that there are already a few cars in Shenzhen that are being readied and will be available for delivery at the end of the launch tonight," he said.

(Image credit: Wu Ying on Weibo)

Notably, NIO has not yet announced the price of the new ES6, which is expected to be below RMB 400,000 yuan ($56,700).

NIO gave the new ES6 its debut on the first day of the Shanghai auto show on April 18, when it began allowing consumers to pay an RMB 5,000 deposit to reserve the model.

On May 11, a large number of NIO App users received a push message from NIO containing a questionnaire asking them to vote on what they thought was a reasonable price for the new ES6.

NIO offered six options in that questionnaire: below RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and RMB 398,000 or more.

On May 20, NIO announced that the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.

On May 22, it said the model was available in more than 330 NIO stores in 100 cities.

NIO's showrooms include the flagship NIO Houses as well as the smaller NIO Spaces, and they numbered 110 and 270 in China, respectively, as of April 30, according to data it released on May 1.

NIO released its first-generation ES6 in December 2018 and began delivering the model in China in June 2019.

Available data for 2022 show that from January to August, 32,877 ES6 units were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period.

The wait for the new ES6 by potential consumers may have depressed NIO's deliveries.

In the first three weeks of May, insurance registrations for NIO vehicles were 3,700, according to data from earlier this month.

($1 = RMB 7.0554)

China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

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Tags Li Auto, NIO

China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Neta Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

Post author By Phate Zhang/CnEVPost
Post date May 23, 2023

This article is being updated, please refresh later for more content.

Tesla vehicles registered 10,200 insurance units in China last week, bringing the number to 26,118 for the first three weeks of May.

Li Auto founder, chairman and CEO Li Xiang said last week that they had been complained about by some of their peers and therefore could not continue to share the weekly insurance registration numbers.

Interestingly, however, the company resumed sharing those numbers today to continue to show that it leads the pack among Chinese new energy vehicle (NEV) startups.

For the week of May 15 to May 21, Li Auto sold 7,100 units, far outpacing other new car brands and reigning as the weekly sales leader for new automaking brands in the Chinese market, the company said today on Weibo.

Li Auto did not explain on what basis the sales were counted, but apparently, they were insurance registrations.

Li Auto surpassed all other traditional luxury brands except Mercedes-Benz, BMW and Audi to remain in the top five luxury brands in the Chinese market in terms of sales, the highest-ranked Chinese brand on the list, it said.

In the first two weeks of May, Li Auto vehicles had 4,543 and 6,670 insurance registrations, respectively. This means that from May 1 to May 21, Li Auto sold about 18,313 vehicles.

The tables Li Auto shared today show that NIO vehicles had 1,400 insurance registrations last week. This means that NIO had 3,700 insurance registrations for the first three weeks of May.

NIO deliveries continue to be curbed by the upcoming launch of the new ES6, with insurance registration figures of 1,100 and 1,200 in the first and second weeks of May, respectively.

NIO will officially launch the new ES6 on May 24, and its deliveries will start on May 25.

The company is getting the ES6 to market with unprecedented delivery efficiency, and as of May 20, the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.

XPeng registered 1,500 insurance units last week, the same as the previous week. In the first three weeks of May, XPeng vehicles had 3,870 insurance registrations.

XPeng deliveries were also dampened by the new model G6, which is expected to officially launch and begin deliveries at the end of next month.

Insurance registrations for Tesla vehicles in China were 10,200 last week, bringing the figure to 26,118 for the first three weeks of May. The number was 5,928 and 9,990 in the first two weeks of May.

Data table: China NEV weekly insurance registrations

The post China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400 appeared first on CnEVPost.

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Tags Li Auto, NIO, Tesla, XPeng

China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Neta Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

Post author By Phate Zhang/CnEVPost
Post date May 23, 2023