Category: EV vehicles

  • In January 2024, Tesla only managed to sell a single unit of its complete EV range in South Korea, as per reports.

    In January 2024, Tesla only managed to sell a single unit of its complete EV range in South Korea, as per reports.

    In January 2024, Tesla recorded just a single EV sale in South Korea. The company sold just a single unit of the Model Y SUV, highlighting growing concerns in Korea relating to EVs manufactured in China. There are also pricing challenges and a lack of charging infrastructure negatively affecting demand in Korea.

    Worst-Ever Sales Performance

    Since July 2022, the sale of a single Tesla EV last month in Korea is the worst-ever sales performance by the American company. It is noted that the data put together by researcher Carisyou and the Korean Trade Ministry indicate an 80% decline in the number of new EV registrations in January when compared with December 2023. Higher interest rates and inflation are believed to be among the factors dampening consumer demand for EVs in the country. There are also issues relating to EV fires due to battery overheating, as well as a dearth of fast chargers in Korean cities. The China-made Tesla Model Y was one of the top-selling brands in 2023.

    Perceived Links to China

    While overall demand for EVs is on a decline in Korea generally, the dip in sales by Tesla could also be affected by its perceived links to China. A recent survey indicates that most Koreans who wanted to buy Tesla cars have bought one, but some people recently started disliking Tesla after finding that some of the models were manufactured in China. Korean consumers are concerned about the quality of manufacturing in China, the survey indicated. The low January sales could also be connected to the seasonal behavior of the Korean consumer. January is not the best time to buy EVs as consumers await the government’s announcement of subsidies. A Tesla spokesperson in Korea also stated that consumers delayed EV purchases before the confirmation of subsidies.

    Pricing Challenges

    The cost of the Model Y was fixed at 56.99 million won ($43,000) in July 2023 and this made it qualify for a full government subsidy. However, a recent announcement by the regulator has further lowered the threshold for government subsidies to EVs priced below 55 million won, which will result in up to a 50% decline in allowable subsidy for the Model Y. It is unclear whether there will be a reaction by Tesla to the new subsidy regime but the company remains upbeat that demand in Korea will pick up.

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  • Announcement: Ola Electric S1 X Unveils Upgraded Version with Enhanced Battery and Extended Range

    Announcement: Ola Electric S1 X Unveils Upgraded Version with Enhanced Battery and Extended Range

    Ola Electric, a major player in the Indian electric two-wheeler market, has launched an upgraded version of its S1 X electric scooter with an extended range. The new S1 X is equipped with a bigger 4kWh battery, offering up to 190km of range on a single charge. Ola Electric is also introducing extended warranty programs for the battery of the new S1 X 4kWh.

    Expanding Infrastructure

    As Ola Electric continues to introduce new variants of the Ola S1 electric scooters, the company is also expanding its infrastructure. It plans to increase its service centers in India by 50% and aims to have more than 600 service centers by April 2024. Additionally, Ola Electric is improving its charging network, with 10,000 stations set to be available by June 2024.

    Faster Charging Technology

    Ola Electric has made advancements in charging technology, offering faster charging than home chargers. The new chargers can provide about 75% faster charging and deliver up to 31 miles of range in just 20 minutes of charging.

    Pricing and Warranty

    Ola Electric is offering its new fast chargers for home use at a price of Rs. 29,999 ($360). The company also provides a standard warranty program for its battery, covering up to 8 years or 80,000km. Customers have the option to extend the warranty to 100,000km for Rs. 4,999 ($60) or 125,000km for Rs. 12,999 ($157).

    S1 X Specifications and Pricing

    The Ola S1 X is available in multiple two-tone colorways and is expected to expand its market beyond India. The scooter has a top speed of 90km/h and comes with a 4kWh battery. It can accelerate from 0 to 40km/h in just 3.3 seconds. However, it lacks some premium features found in the top models of the S1 X lineup, such as the S1 X+. The new version of the S1 X is priced affordably at Rs. 109,999 ($1,325).

    Announcement: Ola Electric S1 X Unveils Upgraded Version with Enhanced Battery and Extended Range
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  • Record-breaking January Sales in China for Tesla

    Record-breaking January Sales in China for Tesla

    Tesla, the electric vehicle giant, has started off the year 2024 with a significant accomplishment in China, solidifying its position as a leader in the electric vehicle (EV) sector. In January, the company reported an 8% increase in wholesale shipments of its China-made Model 3 and Model Y vehicles, totaling 71,447 units. This growth not only represents a number but also demonstrates Tesla’s enduring appeal in the competitive Chinese market.

    Tesla’s success in China can be attributed to its operations at the Tesla Giga Shanghai, the world’s largest all-electric car manufacturing plant. In 2023 alone, the plant produced nearly 950,000 vehicles, establishing itself as the core hub for Tesla’s activities in China. It caters to local demand and handles significant export volumes. Although the figures for January were lower compared to November and December 2023, Tesla achieved its best January on record.

    The preliminary data from the China Passenger Car Association (CPCA) emphasizes Tesla’s resilient market position. The introduction of the upgraded Model 3, known as Highland, and the enhancements made to the Model Y have kept consumer interest high. Notably, the Model Y emerged as the top-selling all-electric model in China for 2023, highlighting Tesla’s ability to innovate and lead in the market.

    This sustained success is particularly important for Tesla, considering the temporary slowdown in production during the third quarter of 2023. The swift ramp-up to full production capacity for the updated Model 3 showcases Tesla’s efficiency and underscores the strategic significance of the Shanghai factory in its global operations.

    This achievement further solidifies Tesla’s dominance in the EV sector and its commitment to meeting the growing demand for electric vehicles in China. With its continued success in the Chinese market, Tesla is well-positioned to maintain its leadership in the global electric vehicle industry.

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  • Li Auto Employees Celebrate Big Rewards Following Exceeding 2023 Sales Goals

    Li Auto Employees Celebrate Big Rewards Following Exceeding 2023 Sales Goals

    Li Auto, a rising star in China‘s electric vehicle (EV) market and a formidable competitor to Tesla, has made headlines by generously rewarding its employees for surpassing the company’s 2023 sales targets. Amidst the fiercely competitive EV landscape, Li Auto’s strategy of offering significantly larger bonuses than the industry average underscores its commitment to recognizing and incentivizing the hard work of nearly 20,000 staff members.

    Bonuses will be as huge as four to eight months’ salary for employees

    The Beijing-based automaker announced plans to distribute bonuses equivalent to four to eight months’ salary, a notable increase from the standard two months’ pay seen across the sector. This move not only highlights Li Auto’s exceptional performance in 2023 but also reflects a culture of appreciation and motivation that is central to the company’s ethos. CEO Li Xiang, sharing insights on Weibo, emphasized the shift from modest rewards following 2022’s missed targets to this year’s substantial bonuses, mirroring the company’s sales triumph.

    Li Auto’s success story

    Li Auto’s success story is marked by delivering 376,030 premium EVs to customers, marking a staggering 182% growth from the previous year and crushing the set goal of 300,000 vehicles. This achievement positioned Li Auto as a close second to Tesla in China’s premium EV market, showcasing the brand’s robust appeal among affluent drivers.

    Product diversification and expansion

    The company’s rise to fame is also attributed to its strategic product diversification. After years of relying on its sole model, the Li One, Li Auto expanded its portfolio in mid-2022 with the introduction of three luxury SUVs—the L7, L8, and L9. These models, featuring advanced technology like intelligent four-wheel-drive systems and expansive entertainment screens, quickly took over China’s middle class.

    Future goals and competition

    Looking ahead, Li Auto sets its sights even higher, aiming to deliver 800,000 units in 2024—a bold objective reflecting both ambition and confidence in the face of a decelerating market and cutthroat competition. Time will tell if Li Auto can compete against BYD and Tesla – until then, the company continues to grow.

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  • Introducing the 2025 Porsche Taycan: Enhanced Charging, Extended Range, and Innovative Tech Features

    Introducing the 2025 Porsche Taycan: Enhanced Charging, Extended Range, and Innovative Tech Features

    Porsche Sets New Standards with the 2025 Taycan

    Porsche is taking electric vehicle (EV) technology to new heights with the 2025 Taycan, pushing the boundaries of performance, charging speed, and driving dynamics. In a rapidly evolving EV landscape, Porsche is not content to rest on its laurels. The latest version of the Taycan, Porsche’s flagship EV, is a clear indication that the company is adapting to meet the demands of the EV market.

    A Range of Models to Suit Every Driver

    The 2025 Taycan is available in both sports sedan and Cross Turismo wagon body styles, offering a choice of four powertrain options and rear- and all-wheel drive configurations. This diverse range of models is designed to cater to the preferences of various drivers. The entry-level sedan starts at $101,395, while the top-tier Cross Turismo model is priced at $213,695. One notable feature of this year’s models is the introduction of a new 105kWh battery option under the Performance Battery Plus package, promising extended range and enhanced performance.

    Lightning-Fast Charging Speeds

    Charging speed is a crucial factor for any EV, and Porsche has made significant advancements with the Taycan. The vehicle can charge from 0 to 80 percent in just 18 minutes at 800-volt DC charging stations, putting it at the forefront of charging technology. This improvement is not just about speed; it’s about making electric driving more convenient and seamlessly integrating it into drivers’ lives.

    Enhanced Efficiency and Performance

    The 2025 Taycan achieves enhanced efficiency through several technical advancements. A new rear-axle motor, a modified pulse inverter, a more powerful battery, revised thermal management, and an upgraded recuperation system all contribute to a more efficient and dynamic driving experience. These improvements enable the Taycan to accelerate from zero to 60 mph even faster, with the Turbo S model accomplishing this feat in just 2.3 seconds, making it the quickest production car ever offered by Porsche.

    Design and Technological Updates

    Porsche’s innovation extends beyond performance and efficiency. The 2025 Taycan introduces design and technological updates, including new headlights and taillights, refreshed front fenders, and the option for a high-quality, leather-free interior. Additionally, Porsche is enhancing the digital experience inside the Taycan, with a deeper integration of Apple CarPlay and new video streaming capabilities on the vehicle’s displays.

    Exciting Times Ahead

    The 2025 Taycan represents Porsche’s commitment to pushing the boundaries of electric vehicle technology. With its impressive charging speed, enhanced efficiency, and cutting-edge design and technology, the Taycan is setting new standards in the EV market. Are you excited for the 2025 Taycan? Let us know in the comments below!

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  • The Revealed BYD YangWang U7 EV Boasting an 800km Range and a Remarkable 135.5kWh Battery

    The Revealed BYD YangWang U7 EV Boasting an 800km Range and a Remarkable 135.5kWh Battery

    Prolific Chinese EV manufacturer BYD is working on the YangWang U7, a sedan packing a 135.5kWh battery that delivers up to 800km of range. The new BYD EV will offer two CLTC cruising ranges – 720km and 800km. The new detail was culled from the latest catalog of NEVs exempted from vehicle purchase tax. The catalog was released by the Chinese Ministry of Industry and Information Technology. Recall that the company recently announced the YangWang U8.

    Preparing for Market Launch

    The U7 is being prepared for its market launch in China, having earlier applied for the sales license last month. BYD is the world’s biggest new energy vehicle maker and the YangWang brand is a luxury unit of the carmaker. YangWang currently sells the UB EREV offroader and the U7 will expand the YangWang portfolio. YangWang is also reportedly working on two other models apart from the U7. These are the U9 sports car and a fastback crossover whose name has not been revealed.

    Battery Details and Performance

    The Ministry’s catalog indicates that the YangWang U7 has an LFP battery manufactured by BYD’s FinDreams with a capacity of 135.5kWh. The battery weighs 903kg which translates to about a third of the electric sedan’s full weight of 3095kg. The substantial weight of the battery is due to its chemistry and configuration. There are several other batteries with higher capacity and less weight than the U7. The difference in the CLTC cruise ranges is due to the drag coefficient, as the curb weight and combined power output are similar. The U7 comes with four electric motors with a total power output of 960kW and a top speed of 270km/h.

    Design and Features

    The YangWang U7 will come with optional side-view cameras in place of traditional mirrors. It will also feature aerodynamic wheel covers and optional bumpers. With its full complement of aerodynamic elements in place, the U7 can achieve a drag coefficient of 0.195 Cd. It runs on the e4 platform (also called the YiSiFang) and implements the brand’s three-screen layout. The interior offers either four or five seats and the dimensions of the U7 are 5265 x 1998 x 1517 mm with a wheelbase of 3160mm.

    Pricing & Availability

    The YangWang U7 is expected to debut in China later this year but the release specifics and pricing details are lacking at this time.

    The Revealed BYD YangWang U7 EV Boasting an 800km Range and a Remarkable 135.5kWh Battery
    BYD YangWang U7
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  • Rivian Sets March 7 as Official Reveal Date for New R2 Electric SUV

    Rivian Sets March 7 as Official Reveal Date for New R2 Electric SUV

    March 7 will mark a key day for Rivian, the electric vehicle innovator based out of California, as it pulls the curtain back on its latest endeavor, the R2 electric SUV. This reveal comes over two years after the debut of its initial offerings, the R1T pickup and the R1S SUV, setting the stage for Rivian’s ambition to solidify its reach in the electric vehicle sector.

    The R2 is rumoured to be priced lower than the R1T and R1S

    Rivian’s journey began with the R1T and R1S, vehicles that combined uniqueness with a fun driving experience but carried a price tag starting at over $73,000, making them a dream beyond the reach of many. In contrast, the R2 series aims to be a game-changer by targeting a more expansive audience with a more palatable price point envisioned between $45,000 and $50,000.

    The upcoming R2 takes aim at the electric SUV market

    The upcoming R2, a mid-size SUV or crossover, will look to challenge the likes of the Tesla Model Y, Hyundai Ioniq 5, and Kia EV6. Rivian’s strategy is clear: tap into America’s crossover craze to compete in a segment where the Model Y has seen significant success. The R2’s potential to disrupt this market will hinge on several factors, including its price, range, fast charging capabilities, and Rivian’s capacity to meet demand.

    Rivian’s commitment to accessibility and expansion

    Rivian’s commitment to making electric vehicles more accessible is evident in its plans to produce the R2 series at a new $5 billion facility in Georgia, supplementing its production capabilities beyond its original plant in Normal, Illinois. Moreover, embracing Tesla’s NACS charging connector for the R2 models underscores Rivian’s forward-thinking approach, ensuring compatibility with an extensive network of charging stations. Will the R2 carve out a niche in the competitive electric SUV market? Only time will tell, but the anticipation is undeniably high.

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  • Nio’s exploration of range diversity in the face of arduous market conditions

    Nio’s exploration of range diversity in the face of arduous market conditions

    Nio Gears Up for Update, Introduces New Variants with Shorter Ranges

    Nio, the Chinese electric vehicle (EV) manufacturer, is preparing for a significant update next month. In an effort to tackle headwinds in the competitive market, the company is introducing new variants with shorter ranges for its existing models. This move comes after China’s Ministry of Industry and Information Technology (MIIT) included Nio’s eight on-sale models in a regulatory catalog, making them eligible for vehicle purchase tax reductions.

    New Options with Lower Ranges

    While the available battery packs for Nio’s models will maintain their capacities, ranging from 70-kWh to 150-kWh, the introduction of new options with significantly lower ranges is noteworthy. The standard range options will include the 70-kWh and 75-kWh packs, which utilize Li-ion ternary battery technology. On the other hand, the 100-kWh pack will cater to long-range capabilities. It’s important to note that the 150-kWh pack, a semi-solid-state battery, is not yet integrated into the battery swap system.

    Strategic Move to Lower Range and Price

    The adjustment in the minimum Chinese Long-Term Cruising (CLTC) range for various models indicates a strategic move by Nio to potentially lower both the range and price of their vehicles. There have been reports suggesting that Nio might offer battery packs with a 50-kWh capacity, referred to as “city-class range.” These packs would be derived from the standard range battery packs. This strategic decision aims to reduce the barrier to purchase, allowing for increased sales without causing significant dissatisfaction among existing customers.

    Challenges in the Chinese EV Market

    Nio faced a challenging January, with its stock declining by 38%. Despite this, the company managed to deliver over 10,000 vehicles, reflecting an 18.21% increase compared to the previous year. The decline in stock prices can be attributed to intense competition in the Chinese EV market, with larger players like Tesla and BYD initiating price wars that impact the pricing power of smaller players.

    Record Deliveries and Market Conditions

    In December 2023, Nio, along with XPeng and Li Auto, reported record deliveries of nearly 88,500 units. This marked a third consecutive monthly record. However, the positive delivery results did not prevent a decline in stock prices, as investors chose to sell the news. The current market conditions, characterized by a slowdown in China’s economic recovery, have affected consumer spending on expensive electric cars.

    Future Outlook for Nio

    Nio’s challenges and opportunities in the evolving Chinese EV market are crucial for its long-term success. The company has seen a positive trend in weekly registrations, indicating efforts to sell inventories before the anticipated business hiatus during the upcoming Lunar New Year holiday. This strategic move aims to capitalize on the current market conditions and maintain a steady sales momentum.

    Nio’s upcoming update, featuring new variants with shorter ranges, showcases the company’s determination to adapt to the competitive landscape and cater to a wider range of customers. By introducing more affordable options, Nio aims to attract a larger consumer base and solidify its position in the Chinese EV market.

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  • China’s Plug-in Sales Soar by 46% in 2023, Driving Electric Car Market Growth

    China’s Plug-in Sales Soar by 46% in 2023, Driving Electric Car Market Growth

    China has once again proven itself as the global powerhouse in the electric vehicle (EV) sector, with a whopping 8 million new plug-in electric cars hitting the roads in 2023. This achievement not only sets a new benchmark for the country but also underscores the rapidly growing appetite for greener transportation options among Chinese consumers.

    Electric cars now account for 37% of all car sales in China

    The latest data reveals a significant 46% surge in plug-in car sales compared to the previous year, highlighting the unrelenting momentum of China’s EV market. This surge is fueled by a remarkable blend of all-electric cars (BEVs) and plug-in hybrids (PHEVs), both registering record highs in sales. BEVs, leading the charge, witnessed about a 31% increase, while PHEVs, with their growing popularity due to larger battery capacities, saw an astounding 80% jump in registrations.

    BYD is the leading Chinese EV maker

    The electric revolution in China isn’t just about numbers; it’s a clear sign of the country’s commitment to reducing carbon emissions and making electric mobility mainstream. With electric cars now accounting for 37% of all new car sales in China, the country is setting the pace for the global transition to sustainable transportation.

    The dominance of domestic brands like BYD, which has captured a significant share of the market, alongside international players like Tesla, showcases a competitive and vibrant EV ecosystem. Models such as the BYD Song Plus and Tesla Model Y have become consumer favorites, topping the sales charts and driving the market forward.

    Continued growth and a greener future

    As we look ahead, expectations are high for continued growth, albeit at a more measured pace. The industry is optimistic about reaching a new milestone of 10 million sales in 2024, reflecting confidence in the enduring appeal and potential of electric vehicles. With each passing year, China is driving closer to a greener, more sustainable future on the roads, demonstrating what’s possible with innovation, investment, and a shared vision for a cleaner planet.

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  • Appotronics strengthens international footprint in electric vehicle sector, partnering with BYD and Huawei

    Appotronics strengthens international footprint in electric vehicle sector, partnering with BYD and Huawei

    Shenzhen-based laser display technology innovator, Appotronics, is set to make a significant impact in the electric vehicle (EV) industry through its strategic partnerships with BYD, BMW, and Huawei Technologies. As a leading player in the market, Appotronics is expanding its production capabilities to meet the growing demand for intelligent EVs.

    Strategic Partnerships

    Appotronics has formed key alliances with BYD, BMW, and Huawei Technologies, which will help drive its success in the EV market. These partnerships bring together Appotronics’ laser display technology expertise with the automotive and technology prowess of these industry giants.

    Expanding Production Capacities

    To meet the increasing demand for intelligent EVs, Appotronics is strategically expanding its production capabilities. This move will enable the company to manufacture a larger volume of EV components and contribute to the growth of the EV industry.

    Appotronics on China’s Nasdaq-style Star Market

    Appotronics is listed on China’s Nasdaq-style Star Market, which provides a platform for high-growth technology companies. This listing further enhances Appotronics’ credibility and visibility in the market, attracting more investors and opportunities for growth.

    Overall, Appotronics’ strategic partnerships and expansion plans position the company as a key player in the EV industry. With its innovative laser display technology and strong market presence, Appotronics is well-equipped to contribute to the advancement of intelligent EVs.

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