CnEVPost Newsletter: China NEV insurance registrations; Non-stop sell-off of lithium carbonate

Mar 21, 2023

China NEV insurance registrations for week ending Mar 19: BYD 38,414, Tesla 18,712, NIO 1,775

Last week's insurance registrations for NEVs were 112,650, up 4.53 percent from the previous week.

BYD reportedly reduces shifts at two EV plants

BYD has asked some workers at its Xi'an plant to work only four days a week and shifts at its Shenzhen plant have been reduced from three shifts a day to two shifts a day, according to a report from Reuters.

China EV industry sell-off creates opportunity, says Morgan Stanley

Li Auto leads the pack with superior execution, but risk-reward increasingly favors XPeng and NIO after a drastic sell-off this year, Morgan Stanley said.

Panic selling of lithium carbonate just won't stop

Lithium carbonate prices continue to decline, leading to a heavy wait-and-see mood among downstream customers, who are reluctant to place large orders.

Beijing, Xi'an latest cities to offer subsidies to encourage residents to buy NEVs

Beijing is offering subsidies of up to RMB 10,000 for residents to purchase NEVs, while Xi'an is offering subsidies of up to RMB 6,000 for NEV purchases and RMB 10,000 for the installation of charging piles.

CATL has begun mass production of Qilin Battery, report says

Deliveries of Zeekr's Zeekr 009 MPV, the world's first vehicle to be powered by the Qilin Battery, are expected to begin in the second quarter.

Qiantu inks deal with Mullen to tap US market, K50 supercar to be rebranded as Mullen GT and GTRS

Mullen has acquired Qiantu's North and South American intellectual property and distribution rights, allowing the assembly and distribution of the Qiantu K50 in the Americas.