Chinas Pioneering Moves in the Global EV-Landscape

ℹ️ The article was first published on LinkedIn on 27.02.2024.

Welcome to the engaging eleventh edition of China EV Pulse,

marking our eleventh expedition into the evolving world of electric mobility. Your passion and dedication to uncovering the advancements of Chinas electric vehicles in Europe continue to be a driving force.

I am wholeheartedly committed to delivering you comprehensive and insightful analysis of the Chinese EV market, with a focus on the latest trends, breakthrough technologies, and the dynamic shifts within this exhilarating sector.

Join me as we explore the future of electric vehicles in this latest issue of China EV Pulse. Enjoy your read!

A car transport ship chartered by Chinese automaker BYD made its maiden voyage to a German port, docking in Bremerhaven on Sunday. Starting Monday, the first of approximately 3000 vehicles, predominantly electric, began disembarking, according to a spokesperson from the logistics service provider BLG. The "Explorer No. 1," which is the first in a planned fleet of eight ships for BYDs auto transport from China to Europe, previously stopped in Vlissingen, Netherlands. It is scheduled to stay in Bremerhaven until Thursday before heading to Zeebrugge in Belgium and then returning to China. While it's currently uncertain whether Bremerhaven will be a regular stop for BYD, BLG anticipates it might be.

Neta Auto, under its parent company Hozon New Energy Automobile founded in 2014, is gearing up for its Initial Public Offering (IPO) in Hong Kong in the last quarter of 2023, with cornerstone investments already surpassing 280 million US-Dollar.

Since launching the Neta brand in 2018, the company has undergone at least 10 financing rounds. Despite not providing additional details at the moment, Neta has received production qualification from Chinas National Development and Reform Commission in April 2017 and launched its first model, the N01, in November 2018.

The company has seen significant financial activity, including a Crossover financing round in August 2023, which is typically the last before going public. Netas lineup includes the Aya, X, S, and GT models, with the S being its flagship sedan and the GT an electric sports car. However, the company saw a 16% decrease in vehicle deliveries in 2023, totaling 127,496 units, attributed by CEO Yong Zhang to factors such as product transition issues, overpriced new model launches, and inadequate marketing.

IM Motors, one electric vehicle brand of SAIC Motor Corp, is venturing into the extended-range electric vehicle (EREV) market, aiming to address the current limitations of "poor" battery range and lack of fast-charging capabilities in existing EREVs.

The companys co-CEO, Liu Tao, announced that their fifth model will incorporate extended-range technology, significantly enhancing its appeal by overcoming the battery range limitation.

Currently, Li Auto is the sole brand in China fully dedicated to EREV technology, with its first battery electric vehicle (BEV) set to hit the market on March 1. IM Motors, which until now has focused on BEVs including the L7 sedan and LS6 and LS7 SUVs, is expanding its portfolio with the upcoming launch of the L6, an all-electric sedan. The move towards EREVs, evidenced by the success of Li Auto and the introduction of EREVs by other companies like Neta Auto and Leapmotor, reflects a broader industry trend recognizing the value of EREVs in the transition towards vehicle electrification.

Dongfengs luxury brand Voyah is set to enter the Spanish and Portuguese markets, a move highlighted by a recent visit from a Chinese delegation led by Sergio Ribeiro, the CEO of the Portuguese holding company Salvador Caetano. Voyahs CEO, Lu Fang, announced via social media that the brand plans to launch two models, the Dream van and the Free SUV, in both Spain and Portugal within the year. Voyah has already established its presence in Switzerland and Finland and is planning to expand further into the European market, targeting countries like Germany, France, and Italy. This expansion is seen as a strategic move into the heart of Europes automotive market.

Nio has taken a significant step in Europe by initiating frequency regulation services at its battery swap station in Denmark, a move that Nio Powers Vice President Shen Fei heralds as a transformative moment for the battery swap business model.

This initiative allows the station to act as an energy storage unit, contributing to grid stability by participating in grid frequency regulation. This service not only showcases the potential for additional revenue streams, with estimates reaching tens of thousands of euros annually for a station equipped with 21 batteries and 500 kW power, but also emphasizes the role of battery swap stations in supporting the integration of renewable energy sources into the power grid.

The Chinese electric car manufacturer Xpeng is setting an ambitious pace in the electric vehicle industry, planning to unveil 30 new models within just three years. This move, which includes both facelifts and entirely new models, is part of Xpengs major expansion and innovation strategy.

The company is gearing up to introduce new models on two new electric platforms this year, targeting a wide price range between 12,900 and 51,900 Euro.

Alongside the introduction of new models, Xpeng is committed to creating 4,000 new jobs this year and plans to invest 450 Millionen Euro in artificial intelligence and autonomous driving technologies. The company also aims to elevate its brand and marketing efforts to become a leader in the industry swiftly.

Once a relatively obscure city in Chinas province, Hefei has transformed into a bustling hub of electromobility and modern economy, located 450 kilometers west of Shanghai.

Volkswagen is keen on leveraging Hefeis innovative environment to catch up with Chinese manufacturers, who have gained a significant lead in recent years. The developments in China are initially intended for the local market, but successful technologies could be integrated into Volkswagens global operations. The company is investing about one billion euros in a new research and development center in Hefei, its largest outside of Germany, in collaboration with a local elite university. This initiative aims to create a dedicated platform for entry-level vehicles in China, reducing the gap with leading Chinese manufacturer BYD.

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Sebastian | China EV Pulse