Nio is confident of doubling sales next year and aims to be profitable by 2026. The third brand is officially named Firefly and its first model will begin deliveries in the first half of 2025. Read more…
Category: CnEVPost
Nio posts lower-than-expected Q3 revenue, gross margin improves
Nio’s net loss was essentially flat in the third quarter compared to the second quarter, and gross margins improved to 10.7 percent. Read more…
China NEV retail at 581,000 in Nov 1-17, up 7% from same period last month
Retail sales of all passenger cars in China totaled 1.11 million units in the November 1-17 period, up 30 percent from a year earlier and up 3 percent from a month earlier. Read more…
China to have 3.6 million public chargers by end of 2024, nearly 70% of global total, says TrendForce
Global public EV charging pile deployment is constrained by land availability and grid planning, coupled with slowing NEV market growth, TrendForce said. Read more…
China BEV export growth to slow this year on EU tariffs and lower demand, says Canalys
China’s export growth for BEVs is expected to slow to 9 percent this year, with its contribution to passenger car exports falling to 19.0 percent in 2024 from 22.5 percent in 2023, Canalys said. Read more…
CATL in talks to set up battery recycling operations in Europe
CATL is in talks to set up a battery recycling business in Europe, discussing possible plant sites with European governments including Hungary, according to Bloomberg. Read more…
Huawei’s HIMA unit to double model offerings in 2025 with Aito M8 to rival Li L9, report says
HIMA’s available models will exceed 10 next year, and one of the key models will be the Aito M8, which will compete with Li Auto’s Li L9. Read more…
China starts pilot transportation of EV batteries by rail with participation of CATL, BYD
Currently 90 percent of China’s power batteries are transported by road, and rail transportation is expected to reduce costs and improve efficiency. Read more…
Xpeng posts 25% revenue growth in Q3 over Q2, gross margin hits record high of 15.3%
Xpeng reported a record gross margin of 15.3 percent in the third quarter, compared to negative 2.7 percent in the same period in 2023 and 14.0 percent in the second quarter of 2024. Read more…
BYD reportedly developing its own smart driving chip
BYD is developing a smart driving chip with a computing power of 80 TOPS that will be used in the company’s models priced between RMB 80,000 ($11,060) and RMB 300,000, according to local media. Read more…
China EV insurance registrations for week ending Nov 17: Nio 3,800, Tesla 17,100, Xiaomi 5,700, BYD 94,700
Li Auto had 12,300 insurance registrations last week, Xpeng 6,300, Zeekr 6,000, Leapmotor 8,500 and Aito 7,200. Read more…
Wuling to build logistics cars based on CATL’s battery swap solution
SAIC-GM-Wuling has entered into a partnership with CATL to use the latter’s Choco-SEB battery swap solution in the logistics vehicle segment. Read more…
Tesla Model 3 wait time in China further shortened to 1-3 weeks
Tesla Model 3 wait time in China has been shortened from 2-4 weeks previously to 1-3 weeks, while the Model Y remains unchanged at 1-3 weeks. Read more…
Nio still hopes to expand global presence to up to 25 countries and regions by 2025
Nio hopes to enter more than 90 percent of overseas markets in the next five to ten years. Read more…
BYD’s Dynasty lineup set to sell 2 million units this year, exec says
In the January-October period, sales of the Dynasty lineup exceeded 1.58 million units, contributing about half of the BYD brand’s sales in the same period. Read more…
Xiaomi reports $1.3 billion in revenue from EV business in Q3 with 39,790 deliveries
In the third quarter, Xiaomi’s innovation business, which includes EVs, had a gross margin of 17.1 percent and an average vehicle sales price of RMB 238,650. Read more…
Nio Onvo aims to have up to 1,000 stores by end of 2025, report says
Onvo aims to have at least 500 stores by March next year and 800-1,000 by the end of 2025, according to local media. Read more…
Xiaomi says SU7 deliveries have exceeded 100,000, reveals new target of 130,000 for 2024
The new target means that Xiaomi is set to deliver 30,000 units in the next less than one and half months. Read more…
Porsche recalls 15,906 Taycan EVs in China due to battery fire risk
A short circuit may occur inside the power battery module of some of the vehicles included in this recall, which in extreme cases may lead to thermal runaway of the battery module. Read more…
BYD reaches 10 millionth NEV production milestone
BYD was founded in February 1995 with an initial workforce of around 20 employees. Now it has become one of China’s largest automakers, with a total workforce of more than 900,000. Read more…
