Tag: Tesla

From June 16 to June 30, Chinese consumers can receive an RMB 8,000 insurance subsidy if they purchase a rear-wheel drive version of the Model 3 that has already been produced.

(Image credit: CnEVPost)

Tesla (NASDAQ: TSLA) first started offering insurance subsidies in China last September, and cut its prices about a month later.

Now the electric vehicle (EV) maker is offering the subsidy again, but this time the situation may be more complicated.

From June 16 to June 30, Chinese consumers who buy and complete delivery of an already produced rear-wheel drive version of the Model 3 will be eligible for an insurance subsidy of RMB 8,000 ($1,120), according to a poster by Tesla on Weibo today.

Tesla has a factory in Shanghai that produces the Model 3 sedan and the Model Y SUV. The Model 3 is available in two versions -- a rear-wheel drive version and a dual-motor all-wheel drive Model 3 Performance, starting at RMB 231,900 and RMB 331,900 respectively.

For customized vehicles, the expected delivery dates for both versions of the Model 3 are 1-4 weeks, consistent with previous information on Tesla's China website.

In addition to the RMB 8,000 insurance subsidy, Chinese consumers who purchase the Model 3 rear-wheel drive version in stock now can also receive a loan option with a lower interest rate, Tesla's poster shows, without providing details.

On September 16, 2022, Tesla began offering subsidies for owners to purchase vehicle insurance in China after the wait times for Model 3 and Model Y custom vehicles saw multiple reductions in the previous two months.

At that time, the subsidy was valid from September 16 to September 30, and consumers who chose to purchase insurance in a Tesla store could receive a subsidy of RMB 8,000 for new Model 3 and Model Y vehicles.

On October 1, 2022, as the subsidy expired, Tesla extended it to the end of last year.

On October 24, 2022, Tesla cut the prices of the entire Model 3 and Model Y lineup in China, with the entry-level Model Y dropping below RMB 300,000 to take advantage of the then-available state subsidy.

It is worth noting that the latest move by Tesla may involve the upcoming launch of an improved version of the model.

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

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

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

On May 16, a Bloomberg report cited people familiar with the matter as saying that Tesla was nearing the final stages before starting trial production of its updated Model 3 sedan in Shanghai.

Tesla sold 42,508 units at retail in China in May, ranking third in the country's new energy vehicle market with a 7.3 percent share, according to data released by the China Passenger Car Association (CPCA) on June 9.

Model 3 retail sales in China in May were 11,454 units, up 189.97 percent year-on-year, but down 13.20 percent from April.

Model Y retail sales in China in May were 31,054 units, up 428.58 percent year-on-year and up 16.05 percent from April.

The Model Y was the best-selling SUV in China in May, ahead of the second-place BYD Yuan Plus with 26,072 units and the third-place BYD Song Plus with 22,079 units.

Tesla Model Y best-selling SUV in China in May with 31,054 units sold

($1 = RMB 7.1301)

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Tags BYD, Tesla

Battery Swap CATL China Electric eMobility eV Industry News Research Note Tesla Trucks

Analysts expect 16% of heavy trucks sold in China to be electric by 2025

Post author By Lei Kang/CnEVPost
Post date June 15, 2023

At present, 89 percent of the new energy heavy trucks are pure electric models, and half of them support battery swap.

(Image: Screenshot from a CATL video)

China's electrification transition involves not only regular passenger cars, but heavy trucks as well.

By 2025, sales of electric heavy trucks in China are expected to reach 190,000 units, with a penetration rate of about 16 percent, said CITIC Securities analyst Yuan Jiancong's team in a research note today.

In China, the singularity for accelerated penetration of electric heavy trucks has arrived, with penetration expected to reach 35 percent by 2030, the team said.

The acceleration of new energy heavy truck penetration in China from 2021 onward was largely driven by China's restrictions on carbon emissions from high-emitting companies, according to the team.

In 2022, retail sales of new energy heavy trucks in China were 25,000 units, up 142 percent year-on-year, with a penetration rate of about 5 percent, CITIC Securities said, citing data from China Automotive Technology and Research Center (CATARC).

At present, 89 percent of new energy heavy trucks are pure electric models, and half of them support battery swap, according to the team.

Heavy-duty trucks have larger batteries and take longer to recharge at the same charging rate, and battery swap meets the efficiency requirements of these models, the team said.

From 2021 to 2022, the percentage of battery swap-enabled heavy-duty trucks ramped up, the team said, adding that they expect such electric heavy-duty trucks to become the industry's dominant product form in the near term.

On June 12, CATL unveiled Qiji Energy, a battery swap solution for heavy-duty trucks. Similar to the Chinese power battery giant's EVOGO solution for passenger cars released last year, Qiji Energy supports flexible use of the number of batteries.

With a capacity of 171 kWh in a single battery block, heavy trucks can choose to use 1-3 blocks, and the entire battery replacement process takes only a few minutes, CATL said.

In the vehicle-battery separation model, a heavy truck can save RMB 30,000 ($4,190) to RMB 60,000 in annual costs, CATL said.

CATL's move is expected to further boost the electrification of heavy trucks, CITIC Securities said in the research note today.

The penetration of electric heavy trucks is expected to accelerate in areas with higher requirements for range and economy, the team said.

The note also said that Tesla's first electric heavy truck, the Semi, which began deliveries on December 2, 2022, has a range of 800 km at 37 tons fully loaded and has met the criteria for wide-scale commercial operation.

Electric heavy-duty trucks have shown good economic performance in both the US and China, and the Tesla Semi could help the industry grow more rapidly in the US, the team said.

In China, electric heavy-duty trucks will be adopted preferentially in the short term in scenarios including coal industrial parks, steel industrial parks, and sanitation trucks, driven by policy.

By 2025-2030, market forces will drive more growth in the sector as electric heavy trucks improve in economy and range, according to the team.

($1 = RMB 7.1551)

CATL launches battery swap solution Qiji Energy for heavy-duty trucks

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Tags CATL, Tesla

China City NGP Electric eMobility eV Smart Driving Tesla XNGP XPeng XPeng NGP

XPeng rolls out Tesla FSD-like assisted driving feature in Beijing

Post author By Phate Zhang/CnEVPost
Post date June 15, 2023

City NGP feature is expected to cover dozens of additional cities within the year, XPeng said.

(Image credit: CnEVPost)

XPeng's (NYSE: XPEV) Advanced Driver Assistance System (ADAS) similar to Tesla's FSD (Full Self-Driving) is now available in Beijing, making the company the first to launch the feature in the Chinese capital city.

The XPeng feature, called City NGP (Navigation Guided Pilot), is open in Beijing for users participating in a public test and is currently available on Beijing's ring roads and major highways, according to a press release today.

In addition to public test users, the feature will soon be available for general users of the Max version of XPeng's flagship G9 and P7i with the Xmart OS 4.3.0 system update, it said.

XPeng P5's P-version models will also be able to use the City NGP feature in Beijing after upgrading to Xmart OS 3.5.0, according to the company.

City NGP is an ADAS feature similar to Tesla's FSD, which allows the vehicle to perform driving tasks when it is activated and navigation destinations are set.

This includes cruising at a safe distance from the vehicle ahead, changing lanes due to navigation or vehicle overtaking decisions, handling merging and lane splitting, and going around stationary vehicles or obstacles.

On September 17, 2022, the City NGP feature became available on a pilot basis in Guangzhou, where XPeng is headquartered. One month later, XPeng officially opened the feature to all eligible P5 cars in Guangzhou on October 21.

When XPeng launched its flagship SUV, the G9, on September 21, 2022, it said the model would feature a second-generation assisted driving system called XNGP.

XNGP is a full-scenario assisted driving system, and XPeng aims to have it provide driving assistance in all scenarios including highways, city roads, internal campus roads, and parking lots.

On October 24, 2022, XPeng said at its annual Tech Day event that XNGP for G9 Max will enable support for City NGP in Guangzhou, Shenzhen and Shanghai in the first half of 2023.

On March 31 of this year, XPeng announced that XNGP achieved the first phase of capability, covering the G9 Max and P7i Max versions, to gain City NGP capability in Shanghai, Shenzhen and Guangzhou, three cities with high precision map coverage.

Phase 2 of XNGP, which XPeng will launch in the second half of 2023, will see full lane-changing, overtaking and left/right turn capabilities extended to major Chinese cities without high-precision maps, while full-scenario ADAS is planned for 2024, the company said at the time.

When the full rollout of the XNGP system is completed in 2024, it will enable full-scenario ADAS from start to stop, the company said.

Based on XNGP's ability to iterate quickly, the improved capabilities of City NGP brought by the Xmart OS 4.3.0 upgrade will allow vehicles to handle tasks including lane changes, detours and following vehicles with greater ease, XPeng said today.

(Image credit: XPeng)

City NGP under the XNGP system has powerful AI learning capabilities that will allow driving skills to improve faster and also allow it to cover more cities at a faster pace, according to XPeng.

In addition to Beijing, Shanghai, Guangzhou and Shenzhen, the City NGP feature is expected to cover dozens of additional cities within the year, XPeng said.

The latest XNGP will also bring next-generation Highway NGP capabilities that perform closer to L4 assisted driving, with almost 0 takeover in highway scenarios, the company said.

City NGP has gained the equivalent of one year of driving experience for human drivers on average each quarter since its launch in October 2022, XPeng said.

In the second half of 2023, XPeng will gradually release ADAS features for Chinese cities or urban areas without HD map coverage, it said, adding that it also plans to offer customized NGP features for daily commutes across the country.

These initiatives will cater to a wider range of driving scenarios and provide users with a more intelligent driving experience in a variety of environments, XPeng said.

XPeng is seen as one of the strongest in China in terms of assisted driving capabilities, though its local counterparts are also making rapid progress on their own.

NIO's similar feature is called NOP (Navigate on Pilot), though it doesn't yet cover urban areas. The company began allowing owners of all its NT 2.0 platform vehicles to apply for a trial of an improved version of the system, NOP+ Beta, on February 20.

NOP+ Beta covers 95 percent of China's core highways and urban fast roads, and offers significant improvements in safety and comfort of experience in scenarios including following, lane changing and overtaking, and ramp passing, NIO said on April 10.

NOP+ will gradually switch and upgrade to BEV architecture in 2023, and the hardware capability and algorithm architecture will help NOP+ cover more road scenarios, the company said at the time.

In addition, starting in the second half of 2023, the feature will support pilot navigation to battery swap stations along highways and automatic replacement of fully charged batteries, according to NIO.

NIO's assisted driving software covering urban areas is called NAD (NIO Autonomous Driving), and the system is not yet available.

Li Auto (NASDAQ: LI) unveiled its latest generation of assisted driving system, AD Max 3.0, on the first day of the Shanghai auto show on April 18. The system'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.

XPeng says G6 gets over 25,000 orders 72 hours after pre-sale starts

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Tags Li Auto, NIO, Tesla, XPeng

China China Auto Market CPCA Electric eMobility eV Industry News Tesla Weekly Data

China NEV retail sales in Jun 1-11 at 160,000, down 4% from same period last month, CPCA data show

Post author By Lei Kang/CnEVPost
Post date June 14, 2023

From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month.

(Image credit: CnEVPost)

The Chinese passenger car market was weak in the first two weeks of June, while the new energy vehicle (NEV) market performed slightly better.

From June 1 to June 11, retail sales of passenger NEVs in China were 160,000 units, up 18 percent year-on-year but down 4 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).

So far this year, China's retail sales of passenger NEVs were 2,581,000 units, up 39 percent year-on-year.

From June 1 to June 11, wholesale sales of passenger NEVs in China were 144,000 units, up 18 percent year-on-year and up 3 percent from the same period last month, according to the CPCA.

Wholesale sales of passenger NEVs so far this year were 2,927,000 units, up 45 percent year-on-year.

From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month, the CPCA said.

So far this year, cumulative retail sales of passenger cars in China were up 3 percent year-on-year to 8.057 million units.

This means that from June 1 to June 11, the penetration of NEVs at retail in China was 37.6 percent, and 32.03 percent so far this year.

In the first week of June -- June 1-4 -- the average daily retail sales of passenger cars in China were 31,000 units, down 9 percent from a year ago and 42 percent lower than the same period last month.

In the second week of June -- June 5 to 11- - average daily retail sales of passenger cars were 43,000 units, down 10 percent year-on-year and down 14 percent compared to the same period in May.

The decline in sales in early June was mainly due to a high base from last year brought about by stimulus policies.

On May 31, 2022, China announced a 50 percent reduction in vehicle purchase tax for passenger vehicles of 2.0 liter and below displacement with a purchase date between June 1, 2022 and December 31, 2022 and with a vehicle price not exceeding RMB 300,000 ($ 41,900).

Before the policy took effect, China's purchase tax rate for internal combustion engine (ICE) vehicles was 10 percent, while the purchase of NEVs was exempt from purchase tax.

The stimulus policy left car sales high at the beginning of June last year, while the same period this year was a normal sales time, so a decline in sales is natural, the CPCA said today.

The CPCA did not release sales figures for specific car companies, but Li Auto shared some numbers yesterday.

Li Auto sold 11,900 units from June 1 to June 11, figures shared yesterday by the extended-range electric vehicle (EREV) showed. The company did not specify, though the figures are based on vehicle insurance registrations.

Tesla (NASDAQ: TSLA) sold 26,000 units in China from June 1-11, while NIO (NYSE: NIO) had 2,800 and XPeng (NYSE: XPEV) had 2,200, according to Li Auto.

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Data table: China auto sales in 1st 2 weeks of Jun

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Tags Li Auto, NIO, Tesla, XPeng

China China Auto Market CPCA Electric eMobility eV Industry News Tesla Weekly Data

China NEV retail sales in Jun 1-11 at 160,000, down 4% from same period last month, CPCA data show

Post author By Lei Kang/CnEVPost
Post date June 14, 2023