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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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China Electric eMobility eV Giga Shanghai Tesla Tesla Team

Tesla reportedly laying off some battery workers at Shanghai plant

Earlier this week, began notifying some employees on the battery cell assembly lines at the first phase of its plant in Shanghai about that layoff, according to Bloomberg.

(Image: Screenshot from a Tesla China video.)

Tesla (NASDAQ: TSLA) is laying off some battery production workers at its Shanghai plant, amid heavy discounts on cars from all manufacturers, Bloomberg reported today.

Earlier this week, Tesla began notifying some employees on the battery cell assembly lines at the first phase of its plant in Shanghai about the layoffs, the report said, citing people familiar with the matter.

Some employees have been allowed to move to another shop, such as stamping, painting or general assembly, the people said. It's unclear how many battery workers may be let go, or the specific reasons behind the layoffs, according to the report.

Tesla employs about 20,000 people at its Shanghai plant, which can produce about 1 million vehicles a year, the report noted.

While Tesla uses batteries made by LG Energy Solution and in its vehicles, those battery cells must be made into battery modules and packs before they can be installed in the cars, a process that is done for the most part in Tesla's battery workshop.

Some automation equipment that could help replace human labor on the battery production line is in the design and construction stages, one of the people said, according to the report.

The report did not provide more details on the layoff plan, though a local media outlet reported yesterday that more than 50 percent of the phase one battery assembly line workforce would be cut.

The layoffs are partly due to the US government's ban on subsidies for batteries imported from China, requiring local car companies to use US-made batteries, Chinese media outlet Shifang Zhixing said in a report yesterday, citing an insider.

In addition, the ample battery assembly capacity at Tesla's Shanghai plant is also a major reason for the layoffs, according to the report.

The battery assembly line in phase two has a capacity of 870 batteries on a single shift, while the day shift plus the night shift in the two battery plants can provide 3,400 batteries, more than the amount needed for vehicle production, according to the report.

Vehicle manufacturing-related jobs have not been affected by the layoffs yet, after all, Tesla vehicle sales are still strong, the report said.

Tesla sold 93,680 China-made vehicles in June, including exports, the second highest on record after 100,291 in November 2022, according to data released by the China Passenger Car Association (CPCA) on July 4.

Tesla's Shanghai plant produces the Model 3 and Model Y, and their breakdown sales figures are currently unknown.

In May, Tesla sold 42,508 vehicles in China, ranking third in China's new energy vehicle (NEV) market with a 7.3 percent share, according to the CPCA. Tesla's Shanghai plant exported 35,187 vehicles in May.

Model Y retail sales in China in May were 31,054, making it the best-selling SUV in China that month, according to the CPCA's rankings.

From January to May, Model Y retail sales in China were 152,461 units, also the best-selling SUV in China during that period.

Yesterday, 16 car companies, including Tesla, , , and , signed a pledge in Shanghai to jointly maintain order in China's auto market and not to disrupt fair competition with abnormal prices.

Earlier today, Tesla ramped up referral incentives for the Model 3 and Model Y in China to boost sales of the two models.

Tesla to equip revamped Model 3 in China with CATL's new battery, report says

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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 Electric eMobility eV Tesla Wait Times XPeng XPeng G6

Xpeng works to boost capacity as G6 wait time exceeds 10 weeks

As of July 5, 's US-traded ADR was up about 75 percent cumulatively since June 9, when the G6 began pre-sales.

(Image credit: CnEVPost)

Xpeng's (NYSE: XPEV) new SUV, the G6, has received good initial acceptance and now the company has an important task: ramping up production capacity as soon as possible.

Customers have been very enthusiastic about the G6, and those who order it now will have to wait about 10 weeks, Brain Gu, Xpeng's vice chairman and president, told English-language media reporters, including CnEVPost, at an online conference Wednesday night.

Xpeng wants shorter and shorter delivery cycles for the G6, but right now the model still needs capacity ramp-up, Gu said.

He mentioned that the G6 has received a significant number of orders, which would help Xpeng see monthly deliveries reach 15,000 units in the third quarter and 20,000 units in the fourth quarter.

Xpeng officially launched the G6 in China on June 29 with a starting price of RMB 209,900 ($28,980), significantly lower than the starting price of RMB 263,900 for the (NASDAQ: TSLA) Model Y, its main competitor, in China.

The company began pre-sales for the G6 on June 9 and later announced that the model had received more than 25,000 orders within 72 hours.

At the launch event on June 29, Xpeng chairman and CEO He Xiaopeng said the G6 had more than 35,000 pre-sales orders as of June 28 since the pre-sale.

The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said at the time.

In an interview with local media following the G6 launch, Mr. He said the G6's monthly sales target is at least 10,000 units.

CnEVPost's latest look at the Xpeng app shows that the G6's lower-priced Pro versions all currently have an estimated wait time of 10 weeks, while the Max versions all have 12 weeks.

As the electric vehicle industry in China becomes more competitive, quick deliveries are important to capitalize on the initial hype of new models.

Xpeng's local peer (NASDAQ: LI) has proven this to be true, with its three models -- the Li L7, Li L8 and Li L9 -- all currently having 2-4 week wait times.

(NYSE: NIO) also learned its lesson when it launched several new models this year, with deliveries of the new ES6 starting the night it was launched on May 24 and the ET5 Touring on June 16, the day after its launch.

Although the G6 is seen as critical to Xpeng, the company's management believes a car company cannot bet its future on just one model.

In the auto industry, carmakers need to think long-term and be systematically competitive, Mr. He said earlier this month.

Investors are clearly bullish on the G6's potential, with Xpeng's US-traded ADRs up about 75 percent cumulatively as of July 5 since the G6 began pre-sales on June 9.

($1 = RMB 7.2433)

Xpeng delivers 8,620 vehicles in Jun, Q2 deliveries exceed guidance range

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

China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900

The Model Y was the best-selling new energy SUV and the Model 3 was the best-selling new energy sedan in China last week.

(NASDAQ: LI) yesterday shared the insurance registrations of some of the car companies last week to showcase its leadership among the new car-making brands.

Local auto media outlet Dongchedi then shared the rankings they produced, providing more details.

It should be noted that the two shared slightly different data on a few of the car companies' numbers, although the differences were minor, which may have to do with their rounding practices.

In the week between June 26 and July 2, (OTCMKTS: BYDDY) had the highest number of new energy vehicle (NEV) insurance registrations in China at 54,000, according to what Dongchedi shared.

Tesla was in second place at 17,300 units. Tesla was 17,400 units in the data shared by Li Auto yesterday.

was in third place with 11,600 units last week, and Li Auto was fourth with 6,500 units.

Volkswagen's NEV sales were 3,900 units last week, ranking 8th, according to Dongchedi.

When considering only Chinese brands, BYD, GAC Aion and Li Auto were the top three, with (NYSE: NIO) in sixth place.

The Tesla Model Y was the best-selling new energy SUV in China last week with 10,800 units sold. BYD Yuan Plus and BYD Song Plus DM-i were second and third, respectively, with 6,200 and 5,700 units sold.

Li Auto's Li L7 sold 2,800 units last week, ranking 7th.

Nio's ES6 was No. 10 at 1,900 units. The new ES6 was officially launched on May 24 and still seems to be in the capacity ramp-up phase.

The Tesla Model 3 sold 6,400 units last week and was the best-selling new energy sedan in China, according to data shared by Dongchedi.

BYD Dolphin came in second with 6,100 units and GAC Aion S was third with 6,000 units.

China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100

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China Electric eMobility eV Li Auto Nio Sales Target XPeng

Li Auto raises H2 sales forecast to about 240,000 units, report says

has given its supply chain a full-year sales forecast of 240,000 units, according to local media.

(Image credit: CnEVPost)

(NASDAQ: LI) has updated its second-half sales forecast after seeing strong growth in the first half of the year, a new report said.

Li Auto has told its supply chain that it is raising its second-half sales forecast to about 240,300 units, local media outlet 36kr reported today.

The extended-range electric vehicle (EREV) maker expects average monthly sales of more than 35,000 units in the third quarter and more than 42,000 units in the fourth quarter, according to the report.

Li Auto is on track to see sales of more than 380,000 units for the full year, far exceeding the 300,000 sales target set at the beginning of the year, considering it delivered 139,000 units in the first half of the year, according to the report.

Li Auto's three SUVs currently on sale -- the Li L7, Li L8 and Li L9 -- are all EREVs, which are essentially plug-in hybrids aimed at a larger market than pure electric vehicles.

In June, Li Auto delivered 32,575 vehicles, bringing first-half deliveries to 139,117 units, up 130.31 percent year-on-year, according to data released earlier this month.

Last week -- June 26 to July 2 -- Li Auto sold 6,500 units, down 13.33 percent from 7,500 units the week before, according to data shared by the company yesterday.

The drop in sales last week was due to its factory being closed for two days during the week of the Dragon Boat Festival, one more day than normal, resulting in 6,388 units produced that week, Li Auto founder, chairman and CEO Li Xiang said on Weibo yesterday.

This year's Dragon Boat Festival holiday was from June 22 to June 24.

Li Auto's current vehicles are produced at its factory in Changzhou, Jiangsu province, which Li previously mentioned has six days of production per week as well as one day of overhaul.

A total of 7,500 vehicles per week is the limit of Li Auto's current production, and the reduced production from the holiday was reflected in last week's deliveries, he said.

Starting in the second week of July, Li Auto will increase its weekly production capacity from 7,500 to 8,000 units, and the change in deliveries from this will come in the third and fourth weeks of July, he said.

Late last month, a 36kr report said Li Auto had raised its full-year sales target to 400,000 units from the original 300,000, but this was later denied by Li.

Li Auto finished the first half of the year with more than 130,000 units sold and does not have any ability to make it to 400,000 units for the full year, he said at the time.

Li Auto's battery-electric vehicle (BEVs)-focused local peers Nio (NYSE: NIO) and (NYSE: XPEV) have both largely completed product switches recently and are expected to see higher sales in the second half of the year.

Nio has given its supply chain a full-year sales forecast of 240,000 units, the 36kr report said today.

Nio management has previously said the company was aiming to double its sales this year compared to last year. It sold 122,486 vehicles last year and sold 54,561 vehicles in the first half of this year.

Nio will need to sell an average of at least 31,000 vehicles per month in the second half of the year if it is to achieve full-year sales of 240,000 vehicles.

Xpeng has previously mentioned that the goal is to see cumulative deliveries of more than 450,000 vehicles by the end of this year, implying a sales target of about 200,000 vehicles this year.

The company has seen weak sales over the past year, though deliveries have been improving month by month so far this year, with 8,620 vehicles delivered in June.

Xpeng delivered 41,435 vehicles in the first half of the year, and to see full deliveries reach 200,000 would mean it would need to deliver an average of more than 26,000 vehicles per month in the second half.

Xpeng officially launched its new SUV, the G6, on June 29, and its chairman and CEO, He Xiaopeng, said the monthly sales target for the model is at least 10,000 units.

Li Auto delivers record 32,575 vehicles in Jun, aims for 40,000 monthly deliveries in Q4

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Battery Data Battery News BYD CALB CATL China Electric eMobility eV Gotion High-Tech Monthly Data SNE Research Tesla

Global EV battery market share in Jan-May: CATL 36.3%, BYD 16.1%

's battery installed base grew 59.6 percent year-on-year in January-May, while 's grew 107.8 percent year-on-year, according to SNE Research.

China's CATL and BYD (OTCMKTS: BYDDY) continued to dominate the global power battery market in the January-May period, the latest figures show.

From January to May, total global battery consumption for electric vehicles (EVs) was 237.6 GWh, up 52.3 percent from 156.0 GWh in the same period last year, according to data released today by South Korean market research firm SNE Research.

CATL installed 86.2 GWh of batteries in January-May, up 59.6 percent from 54.0 GWh in the same period last year.

The Chinese power battery giant continues to rank first in the world with a 36.3 percent share and remains the only battery supplier in the world with a market share of more than 30 percent.

This is up from its 34.6 percent share in the same period last year and up from its 35.9 percent share in the January-April period.

CATL's batteries are installed in many major passenger EV models in China's domestic market, such as the Model 3, Model Y, SAIC Mulan, Y, and ET5, as well as Chinese commercial vehicle models, and continue to grow steadily, SNE Research said.

BYD installed 38.1 GWh of power batteries from January to May, up 107.8 percent from 18.4 GWh in the same period last year.

The company ranked second with a 16.1 percent share from January to May, up from 11.8 percent in the same period last year and unchanged compared to January-April.

BYD has gained popularity in China's domestic market with its competitive pricing by establishing a vertically integrated supply chain management, including battery self-sufficiency and vehicle manufacturing, SNE Research said.

With the launch of the Atto 3 model, BYD showed explosive growth by expanding its market share outside of China in Asia and Europe, SNE Research said.

LG Energy Solution installed 33.0 GWh of power batteries from January to May, up 56.0 percent year-on-year.

The South Korean company ranked third in the world with a 13.9 percent share, slightly up from 13.6 percent a year ago and down from 14.1 percent in the January-April period.

Panasonic of Japan ranked fourth with an 8.0 percent share, SK On of South Korea ranked fifth with 5.2 percent share and CALB of China ranked sixth with a 4.3 percent share.

Samsung SDI of South Korea, China's Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth respectively, with 4.2 percent, 2.2 percent, 2.2 percent, and 1.6 percent shares in January-May.

It is worth noting that CALB's power battery installed base of 10.2 GWh continued to be higher than Samsung SDI's 9.9 GWh in January-May.

From January to March, CALB's 5.7 GWh was lower than Samsung SDI's 6.5 GWh. From January to April, CALB's 8.4 GWh exceeded Samsung SDI's 7.5 GWh.

In 2023, Chinese companies are expected to push into overseas markets such as Europe, preparing for a gradual decline in growth in China's domestic market, SNE Research said.

Europe is the largest EV market after China and is aggressively implementing environmental policies, so it is highly likely to be the biggest battleground in the future, according to SNE Research.

In the future, the proportion of LFP batteries in Europe is expected to increase as Chinese companies enter the European market in earnest, the report said.

Nio starts to get cells from WeLion, as deliveries of 150-kWh batteries set to begin in Jul

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China Electric eMobility eV Nio NIO Europe

Nio opens innovation center in Berlin to boost local R&D of software

Berlin innovation center will help 's electric vehicles get smarter in Europe and worldwide, the company said.

(Image credit: Nio)

Nio (NYSE: NIO) has opened an innovation center in Berlin, Germany, as the Chinese electric vehicle (EV) company ramps up its European presence.

The innovation center, which officially opened on July 4, is located at Rotherstraβe 19, 10245 Berlin and covers 1,500 square meters, according to an announcement posted yesterday on Nio's mobile app for Europe.

This is the first Nio R&D center in Europe, and five different teams will work on software development for Nio products and technologies from now on, according to the announcement. The company has a global design center in Munich.

The innovation center is also responsible for localization and software testing, with focus areas including autonomous driving, digital systems, digital architecture, digital cockpit, user experience, user interface and in-car voice assistance system NOMI, according to Nio's announcement.

The new innovation center in Berlin complements existing software development centers in Beijing and San Jose, where Nio has developed about 50 percent of its software.

The innovation center's development team consists of more than 25 employees from 11 different countries, Nio said. Late last month, the company said Nio employs more than 1,300 people in Europe, most of them located in Germany.

The innovation center in Berlin will also serve as a research and development center for Nio Power and as an operations control center for all European battery swap stations, Nio said.

Nio is bringing its entire service system from China to Europe, including the iconic battery swap stations. As of June 30, Nio had 18 battery swap stations in Europe.

On September 16, 2022, Nio announced that its Nio Power Europe Plant in Budapest, Hungary, saw the first battery swap station roll off the assembly line.

The Berlin innovation center location was specifically chosen to attract Europe's top talent in software development, machine learning, artificial intelligence and voice systems.

With Nio's smart technology and the Berlin innovation center, the company's EVs will become smarter not only in Europe, but also worldwide, said Zhang Hui, vice president of Nio Europe.

Users can give feedback to NOMI directly from inside the vehicle, and the Berlin innovation center will help better respond to the desires of German and European customers, Nio's announcement said.

Nio is strengthening its partnerships with local suppliers to deliver better infotainment systems.

In the video-on-demand space, Nio has expanded its partnerships with companies such as Spotify, Nvidia, Bosch and Qualcomm. With a software over-the-air update, Nio now welcomes ScreenHits as a video-on-demand technology for European users, it said.

ScreenHits TV, a UK-based streaming provider, gives users in Europe access to video-on-demand content in 59 countries and 30 languages, according to Nio.

NIO's William Li attends high-level Sino-German meetings as Chinese Premier visits Europe

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China Electric eMobility eV Nio NIO ES6 NIO ES7 Nio ET5 Touring NIO ET7 Wait Times

Nio ES6 wait time gets longer, ES7, ET7, ET5 Touring gets shorter

had sales of 4,100 units last week, up 28.13 percent from 3,200 units the week before.

(Image credit: CnEVPost)

Nio's (NYSE: NIO) new ES6 has a slightly longer wait time in China, while the three other models are slightly shorter.

Customers locking in orders for the Nio ES6 are now expected to get deliveries in 3-6 weeks, slightly higher than the previous 3-4 weeks, information from the Nio App monitored by CnEVPost shows.

Nio officially launched the new ES6, its lowest-priced SUV, in China on May 24, with a current starting price of RMB 338,000 ($46,800), and its deliveries began on the night of the launch.

The last change in the Nio ES6 wait time was on June 26, when it went from about 5 weeks to 3-4 weeks.

Wait times for both the Nio ES7 SUV as well as the ET7 sedan both changed to 6-7 weeks today, slightly lower than the previous 6-8 weeks.

Nio launched the ES7 on June 15, 2022, with the first delivery on August 28, 2022.

The ES7 is Nio's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on this second-generation platform, with a starting price of RMB 438,000 including battery.

Originally launched at the Nio Day 2020 event on January 9, 2021, the Nio ET7 is the company's first sedan, with deliveries beginning on March 28, 2022.

On the first day of the Shanghai auto show on April 18, Nio launched the 2023 ET7, with prices currently starting at RMB 428,000. Deliveries of the new ET7 began on May 19.

On June 26, the wait time for both the ES7 and ET7 went from about 3 weeks to 6-8 weeks.

The latest wait time for the ET5 Touring is about 3 weeks, slightly lower than the previous 3-4 weeks.

Nio officially launched the ET5 Touring in China on June 15 with the same price as the regular ET5, starting at RMB 298,000.

ET5 Touring deliveries in China started on June 15.

Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, although down 17.39 percent from 12,961 in the same month last year, according to figures it announced on July 1.

Last week -- June 26 to July 2 -- Nio sold 4,100 units, up 28.13 percent from 3,200 units the week before, according to data shared by (NASDAQ: LI) yesterday.

($1 = RMB 7.2218)

Data table: Latest wait times for Nio models after Jul 5 changes

(Screenshots on July 5, 2023)

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China Electric eMobility eV GAC Aion Hyper GT Product Launch

GAC Aion’s Hyper brand launches Hyper GT sedan, offers battery swap-enabled version

The battery swap-enabled trim of the Hyper GT starts at RMB 239,900, which Hyper claims can replace the battery in as little as two minutes.

(Image credit: CnEVPost)

Hyper -- a new brand launched by last September -- has introduced the Hyper GT sedan, one version of which supports battery swap.

Hyper officially rolled out the Hyper GT in China on Monday, the brand's first production model and the 20 millionth new energy vehicle produced in China.

The Hyper GT is available in five versions with starting prices of RMB 219,900 ($30,370), RMB 245,900, RMB 239,900, RMB 259,900, and RMB 339,900 respectively.

The version with a starting price of RMB 239,900 supports battery swap, which Hyper claims can replace the battery in as little as two minutes.

Consumers can purchase the car using a battery rental model similar to , which reduces the price of the car by RMB 70,000, and pay a monthly battery lease fee of RMB 980.

The Hyper GT is an all-electric mid-size sedan based on the new AEP 3.0 platform from GAC Group, of which GAC Aion is a subsidiary.

The model measures 4,880 mm in length, 1,885 mm in width and 1,455 mm in height, and has a wheelbase of 2,920 mm.

The Hyper GT is powered by a single electric motor with a maximum power of 250 kW and a peak torque of 434 Nm, and accelerates from 0 to 100 km/h in 4.9 seconds.

The two higher-priced versions of the car support 800 V high-voltage fast charging for a range of 450 km on a 15-minute charge. The model has a maximum range of 710 km.

The Hyper GT comes with the L2++ Adigo Pilot 4.0 intelligent driving system for all-weather, all-road city and highway kilometer assisted driving, Hyper said.

GAC Aion previously offered mainly the Aion series, targeting the mass market, such as the Aion S sedan with a price range of RMB 139,800 to RMB 172,800.

On September 15, 2022, the company unveiled its new premium brand Hyper, and its first model, the Hyper SSR supercar, to enter the higher end of the market.

GAC Aion is offering two versions of the Hyper SSR, with the regular version priced at RMB 1.286 million pre-sale and capable of accelerating from 0 to 100 km/h in 2.3 seconds.

The other version, Hyper SSR Ultimate, is priced at RMB 1,686,000 and can accelerate from 0 to 100 km/h in 1.9 seconds.

The model, the fastest accelerating car on the planet, will begin mass production and delivery in October 2023, GAC Aion said at the time.

($1 = RMB 7.2407)

GAC Aion sells 45,013 vehicles in Jun, 4th straight month over 40,000

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