Tag: Chinese EV Market

  • Strong NEV Sales Boost BYD in April – Continued Growth Anticipated

    Strong NEV Sales Boost BYD in April – Continued Growth Anticipated

    BYD had a remarkable performance in April 2024, as the company reported robust sales figures. They managed to sell an impressive 313,245 new energy vehicles (NEVs) last month, marking a substantial year-on-year growth of 48.96%. This brings their total NEV sales for 2024 to 939,508 units, showing a healthy year-on-year increase of 23.24%. In addition, BYD’s overseas NEV sales also showed strength in April, reaching 41,011 units.

    BYD’s Strong Sales Performance

    BYD’s performance in April 2024 continued to impress with significant year-on-year growth in NEV sales and a notable increase in overseas sales.

    The company is also ramping up its battery production, with their total installed capacity for new energy vehicle power batteries and energy storage batteries reaching around 12.559GWh in April. This has contributed to a total capacity of 42.295GWh for 2024 so far.

    Other Automakers’ Positive Results

    In the same period, Geely Automobile witnessed positive outcomes, selling 153,267 vehicles in April, showing a year-on-year increase of 39%. SAIC Group also achieved strong sales, selling 285,000 NEVs from January to April, marking a year-on-year increase of over 35%. GAC Aion reached global sales of 28,113 units in April.

    BYD continues to lead the Chinese EV market, with other emerging Chinese automakers also making significant sales strides. Hongmeng Zhixing maintained its position as a top performer among new Chinese players by delivering 29,632 vehicles in April. Leapmotor experienced substantial growth with 15,005 delivered vehicles, reflecting a notable year-on-year increase of 72%. Li Auto delivered 25,787 vehicles in April, with a slight year-on-year increase of 0.4%, while Ji Krypton saw significant growth, delivering 16,089 vehicles in April, marking a 99% year-on-year increase. Xpeng Motors also delivered 9,393 vehicles, showing a year-on-year increase of 33%.

    Established automakers with a presence in the NEV market, such as SAIC-GM, also saw positive results. SAIC-GM delivered 8,762 NEVs in April, displaying a substantial year-on-year increase of 93.1%.

    New Entrants and Steady Growth

    New entrants like Xiaomi showed promising initial sales, with the Xiaomi SU7 delivering 7,058 units since its launch on April 3rd. Lantu Auto maintained steady growth, delivering 4,003 vehicles in April, demonstrating a year-on-year increase of 20%. Their year-to-date delivery volume reached 20,348 vehicles, reflecting a similar year-on-year increase of 20%.

    Strong NEV Sales Boost BYD in April - Continued Growth Anticipated
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  • Xiaomi Plans to Launch New SUV Post SU7, Reveals Report

    Xiaomi Plans to Launch New SUV Post SU7, Reveals Report

    Fresh from the triumphant debut of their SU7 electric sedan, Xiaomi is reportedly expediting the production of their next electric vehicle, an SUV, slated for release by the year's end. This move signals Xiaomi's intent to establish itself as a serious player in the automotive industry.

    Competition in the Chinese EV SUV Market

    The information, originating from an unnamed Chinese source, highlights Xiaomi's entry into the SUV segment, a market already populated by several successful Chinese EV manufacturers. While Xiaomi's dominance in the tech sector is well-known, the swift timeline for the SUV launch is considered ambitious given the traditional pace of the automotive sector.

    Strategic Shift towards SUVs

    With many prominent Chinese EV startups prioritizing SUV models, such as Nio, Li Auto, and XPeng, Xiaomi's foray into the SUV market seems strategic. The earlier introduction of the SU7 sedan might have been a calculated move to carve out a niche initially, but venturing into SUVs appears to be the logical progression for Xiaomi.

    Anticipated Success in the EV Market

    The remarkable sales performance of the SU7 sedan, with over 50,000 orders received within the first 27 minutes, underscores the strong consumer demand for Xiaomi's EV offerings. Building on their reputation for feature-rich yet affordable products, an SUV from Xiaomi could potentially achieve even greater success in the market.

    While the validity of the report remains speculative due to the absence of official confirmation and the ambitious timeline, Xiaomi's commitment to the EV sector is evident. Stay updated on further developments from Gizmochina as Xiaomi continues to make strides in the electric vehicle industry.

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  • Explore Xiaomi SU7’s Large EV Factory Before Launch – Exclusive Peek

    Explore Xiaomi SU7’s Large EV Factory Before Launch – Exclusive Peek

    Excitement is building as the launch date of Xiaomi's SU7 electric car approaches, marking the company's entry into the electric vehicle market. Xiaomi CEO Lei Jun recently offered a sneak peek into the production hub for the SU7, generating anticipation for the vehicle's upcoming release.

    Anticipation Builds for the SU7 Launch

    The debut of Xiaomi's highly anticipated electric vehicle is less than 10 days away, with consumers eagerly awaiting the chance to explore the SU7. Beginning March 25th, select stores in 29 Chinese cities will showcase the car's exterior, allowing potential buyers to examine its design and size firsthand. Test drives will be available from March 28th onwards, coinciding with the official unveiling.

    Competitive Pricing and Specifications

    While Xiaomi has not disclosed official pricing details, local media reports have provided estimated price ranges between 250,000 RMB and 370,000 RMB (approximately $35,000 – $51,400 USD) for the SU7. This positions the vehicle as a strong competitor against Tesla's Model 3, offering a larger size. Rumors also suggest a potential top-tier variant, the "SU7 Max," priced above the benchmark set by the Huawei-backed Aito M5 SUV.

    Potential Impact on the Market

    With a price range comparable to Tesla's Model 3, the SU7 has the potential to make a significant impact in the Chinese electric car market. The larger size of the SU7 may appeal to buyers seeking more space, but the final pricing and detailed specifications will be key factors to monitor. Xiaomi's brand reputation and technological expertise could prove instrumental in the success of the SU7.

    In conclusion, the upcoming launch of the Xiaomi SU7 signifies a new chapter in the competitive landscape of Chinese electric vehicles, promising an intriguing development in the market.

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