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CnEVPost Newsletter: China EV insurance registrations; Xpeng Q3 earnings

Published 5 days ago • 1 min read

CnEVPost Newsletter: Daily Recap

Nov 19, 2024

​China EV insurance registrations for week ending Nov 17: Nio 3,800, Tesla 17,100, Xiaomi 5,700, BYD 94,700​

Li Auto had 12,300 insurance registrations last week, Xpeng 6,300, Zeekr 6,000, Leapmotor 8,500 and Aito 7,200.

​Xpeng Q3 revenue beats estimates, gross margin hits record high​

Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations.

​Nio still hopes to expand global presence to up to 25 countries and regions by 2025​

Nio hopes to enter more than 90 percent of overseas markets in the next five to ten years.

​BYD reportedly developing its own smart driving chip​

BYD is developing a smart driving chip with a computing power of 80 TOPS that will be used in the company's models priced between RMB 80,000 ($11,060) and RMB 300,000, according to local media.

​Tesla Model 3 wait time in China further shortened to 1-3 weeks​

Tesla Model 3 wait time in China has been shortened from 2-4 weeks previously to 1-3 weeks, while the Model Y remains unchanged at 1-3 weeks.

​Wuling to build logistics cars based on CATL's battery swap solution​

SAIC-GM Wuling has entered into a partnership with CATL to use the latter's Choco-SEB battery swap solution in the logistics vehicle segment.

​China starts pilot transportation of EV batteries by rail with participation of CATL, BYD​

Currently 90 percent of China's power batteries are transported by road, and rail transportation is expected to reduce costs and improve efficiency.

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