New Energy Vehicles (NEVs) in China

tphuang

tphuang

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I'd suggest everyone take a look at past day's Moneyball_R's tweets about store visits.
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Quite sobering actually. All the dealers are seeing fewer visits due to covid.

From what I can see, XPeng is in huge trouble. They are having trouble selling and have to offer discounts. People are just not buying.

Lixiang is seeing 50% lower store visits and lower test drive conversion. I'd be shocked if their wait time isn't decreasing.

NIO visits at 60-70% of 2021, which isn't as bad, but still not good. Looks like aside from ET5, everything else is available with no wait time.

BYD looks to be doing the least bad since it's down just 20 to 30%. And my guess is that they are also having fewer per store visit because their stores have been increasing. Still, it's not normal for BYD to have cars available in stock.

Aito is an even bigger disaster with visit down 70%. Huawei is going to lose a lot of money if this keeps up.

yeah, dealers are not doing well
https://twitter.com/i/web/status/1600332864725188608
I think different brand are going to have to fail or close down some dealers. Too much competition in China. You can't have everyone rushing in and not create over capacity.
 
Gloire_bb

Gloire_bb

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tphuang said:
I think different brand are going to have to fail or close down some dealers. Too much competition in China. You can't have everyone rushing in and not create over capacity.
Click to expand...
Elephant in the room：2022 was simply more prone to closures than 2021.
As late as 2 days ago Beijing malls were ghost towns.
Hard to expect normal visitor traffic in such conditions.
 
K

KYli

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Gloire_bb said:
Elephant in the room：2022 was simply more prone to closures than 2021.
As late as 2 days ago Beijing malls were ghost towns.
Hard to expect normal visitor traffic in such conditions.
Click to expand...
Auto sales are doing relative well compare with other retail sales. So when some companies are doing well and other companies are doing poorly, then you can't blame it on the economy.
 
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MortyandRick

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Gloire_bb said:
Elephant in the room：2022 was simply more prone to closures than 2021.
As late as 2 days ago Beijing malls were ghost towns.
Hard to expect normal visitor traffic in such conditions.
Click to expand...
It's takes some time to adjust. When we opened up in north America it still took some time to get people to come out. But one people realize they will get covid regardless, there will be more traffic.
 
sunnymaxi

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The first pre-series
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of
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Anhui rolled off the production line on Wednesday in Hefei, the capital of east China's Anhui Province. The mass production of its first new energy model is scheduled for 2023, said Erwin Gabardi, CEO of Volkswagen Anhui.

Image
Image
 
H

henrik

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tphuang said:
I'd suggest everyone take a look at past day's Moneyball_R's tweets about store visits.
Please, Log in or Register to view URLs content!
Quite sobering actually. All the dealers are seeing fewer visits due to covid.

From what I can see, XPeng is in huge trouble. They are having trouble selling and have to offer discounts. People are just not buying.

Lixiang is seeing 50% lower store visits and lower test drive conversion. I'd be shocked if their wait time isn't decreasing.

NIO visits at 60-70% of 2021, which isn't as bad, but still not good. Looks like aside from ET5, everything else is available with no wait time.

BYD looks to be doing the least bad since it's down just 20 to 30%. And my guess is that they are also having fewer per store visit because their stores have been increasing. Still, it's not normal for BYD to have cars available in stock.

Aito is an even bigger disaster with visit down 70%. Huawei is going to lose a lot of money if this keeps up.

yeah, dealers are not doing well
https://twitter.com/i/web/status/1600332864725188608
I think different brand are going to have to fail or close down some dealers. Too much competition in China. You can't have everyone rushing in and not create over capacity.
Click to expand...

There is little choice now, but to move sales from honda/toyota to xpeng. GAC's Japanese joint ventures need to moves suppressed. Why would they allow an adversary to make money, when their own EV maker needs help? xpeng is making decent products, and there are many Chinese automobile KOL on Chinese social networks, who are already promoting Chinese EVs over foreign brands.
 
tphuang

tphuang

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BYD Atto 3 is now on sale in Malaysia. The big release party from today
https://twitter.com/i/web/status/1600807422263644161
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They are investing 500m MYR (over $100 million) to build up their show room network in Malaysia. That gives an idea of the amount of investment that BYD is putting in when it enters new international market. I think this is part of the reason their margins isn't higher. It costs money to build your sales network. So sounds like 40 showrooms by end of 2024. Seal and Dolphin to enter the market in Q4 of 2023. It is said that part of the investment is toward building EV infrastructure. They did enter Malaysia a little later than other ASEAN markets. I wonder if it required more work to get the infrastructure into place for this.

From what I can see, the only major market left for them in ASEAN region is Vietnam and Indonesia.
 
tphuang

tphuang

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supercat

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tphuang said:
https://twitter.com/i/web/status/1600662392350085121
This is confirmed I guess. I'm not sure if 30 GWh is enough for all of future BMW vehicles in America, but I guess it is a good starting point.
Click to expand...
1 GWh can power 10,000-15,000 passenger EVs. So 30 GWh is enough for 300,000-450,000 EVs.

Tesla will cut production in China by 17.4%?
https://twitter.com/i/web/status/1600821084995158016

While China's domestic market is affected by COVID restrictions, its export seems doing well.
https://twitter.com/i/web/status/1600771832944070657

BYD is contemplating to build a battery plant in the U.S. first before selling passenger NEVs.
https://twitter.com/i/web/status/1600685110516670465
BYD Plans to Set up Battery Plant in US
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123 GWh from 2024-2030:

Honda to procure EV batteries from CATL​

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https://twitter.com/i/web/status/1599837256918835201
 
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