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CnEVPost Newsletter: NIO, XPeng may use large die-casting machines; NIO sets up insurance unit
Exclusive: NIO, XPeng may use large die-casting units from their common supplier - CnEVPost — cnevpost.com NIO, XPeng's supplier Guangdong Hongtu saw the 6,800-ton integrated die-casting machine come off the production line and started developing a 12,000-ton die-casting unit.
Guosheng Securities initiates coverage on NIO with Buy rating and $50 price target - CnEVPost The team said NIO is a first mover in the premium electric vehicle market and is bullish on its potential for intelligence and the expansion of its user base with lower-priced products.
NIO ET5 to arrive in several markets, including Norway, in spring 2023, CEO says - CnEVPost NIO will start delivering the ET5 in China in September 2022.
NIO sets up insurance brokerage firm with registered capital of about $8 million - CnEVPost NIO recently incorporated an insurance brokerage company in Hefei, Anhui Province, where its China headquarters is located.
Why is NIO setting up an insurance unit? - CnEVPost Industry sources said that carmakers can integrate insurance services and sales by setting up their own insurance business, which can also maintain a closer relationship with users.
NIO opens new lines under Power Up Plan, second this year - CnEVPost To date, NIO has opened a cumulative total of 19 power supply lines under the Power Up Plan.
Guosheng Securities initiates coverage on XPeng with Buy rating and $66.7 price target - CnEVPost The team expects XPeng's sales to reach 190,000 units in 2022 and 550,000 units in 2025 with a 7 percent market share in China.
Dongfeng Motor delivers first 50 EVs with solid-state batteries - CnEVPost The vehicles, the Dongfeng E70, will enter service in cab markets in Jiangxi, Guangzhou, Zhejiang and Jiangsu.
Hozon, which owns Neta brand, reportedly seeks pre-IPO financing at $7 billion valuation - CnEVPost Hozon is seeking to raise about $500 million ahead of a potential Hong Kong IPO this year, valuing it at RMB 450 ($7.1 billion), Bloomberg reports.
Robot vacuum maker Roborock founder's car-making project reportedly gets Tencent investment and rejects NIO Capital - CnEVPost Rox Motor received $100 million in financing in late 2021, with Tencent's investment amounting to more than $50 million, according to local media.
Emergency charging pod put into operation in China to ease resource constraints on highways - CnEVPost During non-holiday periods, these facilities can be relocated to charging stations in urban areas where charging demand is high.
Shanghai leads in China's NEV sales in 2021 - CnEVPost Tesla Model Y and Model 3 both sold more than 20,000 units in Shanghai in 2021, making them the most popular models among local residents. The NIO ES6 is ranked fifth with 6,228 units.