EV direct is to blame for this one. No where else in the world are people being fleeced like this.
New Energy Vehicles (NEVs) in China
- Thread starter supercat
- Start date
EV direct is to blame for this one. No where else in the world are people being fleeced like this.
Some people are more optimistic than I am when it comes to NEV penetration. 70% penetration + 50 million units by 2024
Interesting, looks like battery waste and recycling could be a large business in a few years
Changan seems to be feeling the heat and it had sales of 2.3 million in 2021. So, a 30 to 40% drop in 2023 would be huge. ICE cars are getting slammed.
It's kind of ridiculous for them to say that they need government guidance on when to eliminate ICE cars when the market is doing all the work. Who still wants ICE cars in China by 2030?
I feel like Chery will be a major part of the NEV export story. They are not battling at the top. They have a nice little product in Chery QQ ice cream and they also have the EV version of Chery Omoda 5 coming. They are mostly dependent on international market these days.
Interesting, looks like battery waste and recycling could be a large business in a few years
Changan seems to be feeling the heat and it had sales of 2.3 million in 2021. So, a 30 to 40% drop in 2023 would be huge. ICE cars are getting slammed.
It's kind of ridiculous for them to say that they need government guidance on when to eliminate ICE cars when the market is doing all the work. Who still wants ICE cars in China by 2030?
I feel like Chery will be a major part of the NEV export story. They are not battling at the top. They have a nice little product in Chery QQ ice cream and they also have the EV version of Chery Omoda 5 coming. They are mostly dependent on international market these days.
supercat
Major
China's NEVs captured 68% of global market in July.
CATL will launch condensed matter batteries next year, which have a new battery chemistry, unlike the Qilin batteries that were just launched.
CATL will launch condensed matter batteries next year, which have a new battery chemistry, unlike the Qilin batteries that were just launched.
I think ICE development is still important, if only for hybrid development capabilities. A high efficiency ICE like Geely with 43% Carnot efficiency is more energy efficient than a pure EV running off of 33% efficient coal electricity.
A series plug-in hybrid (or a hybrid drivetrain capable of running in serial mode) will still have advantages over ICE cars like a highly simplified transmission. They will also have the weight to power ratio of a standard ICE vehicle which is important for commercial and military vehicles.
Remember an ICE engine and gas tank don't weigh much, a standard engine just weighs 350-400 lbs (~180 kg) + a 15 gallon gas tank which weighs 45 kg, vs a pure EV battery pack which weighs 1200 lbs (700 kg), and the engine + gas tank has more energy stored.
BYD's H1 earnings triple y-o-y in sign of China's NEV prowess
By Global Times Published: Aug 30, 2022 12:53 AM
Workers work on the assembly line at a factory of vehicle manufacturer BYD Auto in Xi'an, Northwest China's Shaanxi Province, February 25, 2020. File Photo: Xinhua
Chinese automaker BYD saw its first-half net profit triple the number last year, according to the new-energy vehicle (NEV) champion's financial report on Monday, in a fresh sign of the country's NEV prowess.
BYD recorded 3.6 billion yuan ($521.26 million) in earnings in the first half of the year, a surge of 206.35 percent year-on-year. The Monday figures hit the top end of its previous forecast in mid-July.
BYD accounted for 24.7 percent of the country's NEV sales in the first half, with its market share increasing 7.5 percentage points from the previous year, according to the company's filing with the Shenzhen Stock Exchange on Monday, citing data from the China Association of Automotive Manufacturers.
BYD sat atop the domestic NEV sales rankings and once again topped the global NEV sales list to spearhead the rise of China's homegrown NEV brands, the Shenzhen-based automaker said.
The Warren Buffett-backed Chinese carmaker dethroned US electric vehicle giant Tesla as the top NEV brand in the first six months.
BYD sold more than 640,000 vehicles in the first half, a surge of 314.9 percent year-on-year, while Tesla delivered just over 560,000 vehicles globally during the period, according to media reports.
BYD was the world's first automaker to bid farewell to production of fossil fuel-powered vehicles in March.
The company's rise to global prominence mirrors the country's growing dominance in the global NEV sphere.
In a posting on his public WeChat account on Monday, Cui Dongshu, secretary general of the China Passenger Car Association, revealed that China's share of global NEV sales rose to 68 percent in July.
In the first seven months, the country accounted for 60.6 percent of worldwide passenger NEV sales, according to Cui.
The stellar numbers came on the back of the country's strong push for NEV sales as part of wide-ranging efforts to prop up the Chinese economy.
From Chinese social media.
BYD has a purposefully built factory in Xi'an for supplying externally. Doesn't look like it has done to well in the 2 years it had been operational. Main customers included ChangAn, BAIC, Ford and Huawei. Last year, 1/4 of the business was for Huawei storage system. In the H1 report, it made 539 million RMB, probably due to DM-i sales.
In the second half, Fudi will be supply more customers. Q4 will be supplying Tesla and Toyota for mass production. In Q1, it will supply Daimler and Nuro (I'm not sure if this refers to Mercdez Benz or some other division). After that, it will supply GM, PSA Group (Stellantis maybe?) and Renault. In 2024, it will supply Xiaomi and NIO. So while CATL and other Chinese battery makers have won large market share, so has BYD. You may only have heard about LG and Panasonic building factories in America, but it sounds like Chinese battery manufacturers have all the European automakers cornered now.
BYD has a purposefully built factory in Xi'an for supplying externally. Doesn't look like it has done to well in the 2 years it had been operational. Main customers included ChangAn, BAIC, Ford and Huawei. Last year, 1/4 of the business was for Huawei storage system. In the H1 report, it made 539 million RMB, probably due to DM-i sales.
In the second half, Fudi will be supply more customers. Q4 will be supplying Tesla and Toyota for mass production. In Q1, it will supply Daimler and Nuro (I'm not sure if this refers to Mercdez Benz or some other division). After that, it will supply GM, PSA Group (Stellantis maybe?) and Renault. In 2024, it will supply Xiaomi and NIO. So while CATL and other Chinese battery makers have won large market share, so has BYD. You may only have heard about LG and Panasonic building factories in America, but it sounds like Chinese battery manufacturers have all the European automakers cornered now.
byd needs more overseas factories. LG and panasonic need to be displaced.
BYD's H1 earnings triple y-o-y in sign of China's NEV prowess
By Global Times Published: Aug 30, 2022 12:53 AM
Workers work on the assembly line at a factory of vehicle manufacturer BYD Auto in Xi'an, Northwest China's Shaanxi Province, February 25, 2020. File Photo: Xinhua
Chinese automaker BYD saw its first-half net profit triple the number last year, according to the new-energy vehicle (NEV) champion's financial report on Monday, in a fresh sign of the country's NEV prowess.
BYD recorded 3.6 billion yuan ($521.26 million) in earnings in the first half of the year, a surge of 206.35 percent year-on-year. The Monday figures hit the top end of its previous forecast in mid-July.
BYD accounted for 24.7 percent of the country's NEV sales in the first half, with its market share increasing 7.5 percentage points from the previous year, according to the company's filing with the Shenzhen Stock Exchange on Monday, citing data from the China Association of Automotive Manufacturers.
BYD sat atop the domestic NEV sales rankings and once again topped the global NEV sales list to spearhead the rise of China's homegrown NEV brands, the Shenzhen-based automaker said.
The Warren Buffett-backed Chinese carmaker dethroned US electric vehicle giant Tesla as the top NEV brand in the first six months.
BYD sold more than 640,000 vehicles in the first half, a surge of 314.9 percent year-on-year, while Tesla delivered just over 560,000 vehicles globally during the period, according to media reports.
BYD was the world's first automaker to bid farewell to production of fossil fuel-powered vehicles in March.
The company's rise to global prominence mirrors the country's growing dominance in the global NEV sphere.
In a posting on his public WeChat account on Monday, Cui Dongshu, secretary general of the China Passenger Car Association, revealed that China's share of global NEV sales rose to 68 percent in July.
In the first seven months, the country accounted for 60.6 percent of worldwide passenger NEV sales, according to Cui.
The stellar numbers came on the back of the country's strong push for NEV sales as part of wide-ranging efforts to prop up the Chinese economy.
Is there one for market share by revenue?