CnEVPost Newsletter: NIO, JAC to establish joint venture; Tesla VP says charging is best way to replenish energy

NIO, JAC to establish joint venture with NIO holding 49% of shares - CnEVPost — cnevpost.com The company plans to have a registered capital of 500 million yuan ($77 million ), with JAC contributing 51 percent and NIO 49 percent.

This is why NIO is forming a joint venture with JAC - CnEVPost — cnevpost.com JAC Motors announced Thursday that it will form a joint venture with NIO Holdings Ltd., sparking speculation that the latter is going into the mass market. But that may not actually be the case.

NIO Q4 revenue in line with expectations, adjusted loss per ADS higher than expected - CnEVPost — cnevpost.com Chinese electric vehicle maker NIO reported revenue of RMB 6.64 billion in the fourth quarter of 2020, in line with analysts' expectations of RMB 6.64 billion, and up 46.7 percent from the third quarter of 2020.

NIO earnings call: Creating new brand to enter mass market is a possibility - CnEVPost — cnevpost.com Chinese electric vehicle maker NIO reported unaudited financial results for the fourth quarter and full-year of 2020. The company’s executives held a conference call after that. Here is what they said.

NIO's first 2nd-gen battery swap station may open in Beijing on April 15 - CnEVPost — cnevpost.com Some customers and NIO staff have already worked together to experience the battery swap process, which takes 2-3 minutes.

Deutsche Bank reiterates $70 price target on NIO, says recent stock weakness buying opportunity - CnEVPost — cnevpost.com The team raised its full-year sales estimate for NIO by 6,000 units to 96,000 units.

CICC maintains $85 price target for NIO, says sales expected to remain high in 2021 - CnEVPost — cnevpost.com CICC said it expects NIO to sell 93,000 units in 2021 and is bullish on the company's medium- to long-term volume growth.

NIO to enter Europe in H2 this year - CnEVPost — cnevpost.com After entering Europe, NIO plans to start selling in other international markets in 2022.

NIO delivers 5,578 vehicles in February, down 22.8% from January - CnEVPost — cnevpost.com It's worth noting that January through February is traditionally a slow period in the Chinese auto market, and the Chinese New Year holiday during this period can make deliveries volatile.

Li Auto delivers 2,300 Li ONEs in February, down 57 percent from January - CnEVPost — cnevpost.com It's worth noting that the Chinese auto market is traditionally slow from January to February and that the Chinese New Year holiday during that period can make deliveries fluctuate.

XPeng delivers 2,223 units in February, down 63% from January - CnEVPost — cnevpost.com XPeng Motors delivered 2,223 cars in February, down 63 percent from January, which is traditionally a slow sales month due to the Chinese New Year holiday.

XPeng launches P7 and G3 models with lithium iron phosphate batteries, deliveries to begin in next two months - CnEVPost — cnevpost.com XPeng announced Wednesday the launch of the P7 and G3 models with lithium iron phosphate batteries, both of which will be available for sale now, with deliveries of the former expected to begin in May and the latter in April.

XPeng says users drive over 1 million km with NGP in February - CnEVPost — cnevpost.com XPeng said users drove approximately 1.13 million kilometers with Navigation Guided Pilot (NGP) in February, reflecting their acceptance and trust in the driver assistance feature.

Tesla VP says charging is best way to replenish energy, hints battery swap will be replaced - CnEVPost — cnevpost.com NIO plans to have 500 battery swap stations in China by the end of 2021, and currently has about 200.

Tesla China's move sparks speculation it may support battery swap, a model central to NIO - CnEVPost — cnevpost.com Tesla sources said the company will not adopt the battery swap model.

Tesla surpasses 6,000 Superchargers in Chinese mainland - CnEVPost — cnevpost.com The 6,000th Tesla Supercharger in the Chinese mainland has come online, reaching a new milestone, the company announced today.

BYD sells 10,355 NEVs in February, down over 48 percent from January - CnEVPost — cnevpost.com BYD announced data on Thursday showing that its new energy vehicle sales in February were 10,355 units, down 48.68 percent from 20,178 units in January.

Analysts explain why BYD NEV sales drop sharply in February - CnEVPost — cnevpost.com BYD's NEV sales dropped sharply in February compared with January, and the Chinese New Year holiday is a very important reason. Beyond that, analysts believe there are other factors behind the decrease, but they will all be short-lived.

BYD brings its flagship SUV with blade battery to Norway - CnEVPost — cnevpost.com BYD Europe's official website announced product details of its blade battery-powered SUV, the 2021 BYD Tang, on March 1, and announced the vehicle's entry into the Norwegian market.

Geely aims to launch flying cars in Chinese market by 2024 - CnEVPost — cnevpost.com Chinese automaker Geely is aiming to launch a flying car in the Chinese market by 2024, built by its subsidiary Aerofugia and German company Volocopter, according to Jing Chao, CEO of Aerofugia.

Baidu's car-making arm completes registration, operations begin to get on track - CnEVPost — cnevpost.com The company has been named as JIDU Auto (集度汽车), with a registered capital of RMB 2 billion, according to corporate information provider Qichacha.

First EV made by Huawei and BAIC BluePark to be unveiled in April - CnEVPost — cnevpost.com BAIC BluePark announced on March 2 that its first electric vehicle jointly built with Huawei, the ARCFOX αS HBT, will be unveiled at the Shanghai Auto Show in April.

This hottest-selling model in China is also world's top-selling electric car - CnEVPost — cnevpost.com The WulingHongguang Mini EV, the top-selling electric car in China, was also the world's monthly electric car sales leader in January.

Wuling Hongguang Mini EV sales reach 200,000 units after 200 days on the market - CnEVPost — cnevpost.com That means the model is selling an average of 1,000 units per day, setting a global record for sales of a small new energy vehicle.

China ranks No. 1 in production and sales of EVs for 6 consecutive years - CnEVPost — cnevpost.com China has ranked first in the world in new energy vehicle production and sales for six consecutive years, with cumulative sales of 5.5 million units, Chinese officials said today.

China's government work report stops mentioning new energy vehicles, but that could be a good thing - CnEVPost — cnevpost.com This year's lack of mention has sparked widespread concern, but experts believe there is no need to worry.

China's government work report says to steadily increase auto consumption - CnEVPost — cnevpost.com China will steadily increase auto consumption and remove unreasonable restrictions on used car trading, according to the government work report delivered to the delegates of the National People's Congress as part of the annual "two sessions" for their review and approval.

China's estimated auto sales in February fell 42 percent from January, association data show - CnEVPost — cnevpost.com China's auto sales estimate for February stood at 1.452 million units, down 42 percent from January, the China Association of Automobile Manufacturers said Friday.

Auto chip shortage expected to last six months to nine months - CnEVPost — cnevpost.com In January, the impact of the shortage of chips was shown in China's decreased auto production.

Expert downplays impact of chip shortage on China's auto industry - CnEVPost — cnevpost.com As domestic companies gradually increase the production of chips, I believe the shortage of automotive chips in the industry at present did not cause too big a shortage impact, the future impact will also gradually dissolve, Cui said.