Car NewsTop 10 sales of electric cars in China in March 2024
Come April 2024, many car brands have already announced their March sales. Let’s take a look at China’s electric car sales rankings in March 2024.
1. BYD sold 302,459 cars in March
In March, BYD sold a total of 302,000 cars, including 287,000 Wangchao/Ocean Network cars, 10,000 Denza cars, 1,090 Yangwang cars, and 3,550 Fangchengbao cars. While many competitors saw declines in sales, BYD’s sales remained strong, maintaining a significant lead. It has to be said that the Honor Edition launched at the beginning of the year has been extremely successful. However, the fact that the combined sales of Yangwang and Fangchengbao are less than 10,000 shows that BYD still needs time to establish itself as a high-end brand.
2. Wuling sold 39,520 cars in March (estimated)
In March, Wuling Motors sold a total of 42,956 cars, with electric cars accounting for 92%. Estimated electric car sales are 39,520 units. Among them, Wuling Rongguang sold 11,190 units, the Baojun sold 12,694 units, and the Hongguang MINI EV sold 16,046 units. Except for the Hongguang MINI EV and the Baojun, Wuling Rongguang also surpassed the ten-thousand mark in sales. It has to be said that Wuling is truly a mass-market manufacturing machine. As long as the price is low enough, Wuling is the people’s choice.
3. GAC Aion sold 32,530 cars in March
Compared to the continuous monthly sales of 45,000 cars in the second half of last year, the recent decline in sales of GAC Aion is quite noticeable. The incremental growth in the ride-hailing market is slightly insufficient, and Hyper, which mainly targets C-end consumers, has not successfully increased its sales volume. These are all the problems that GAC Aion has to face in the recent period.
In addition, with the hot sale of Xiaomi SU7, the competitive pressure on Hyper GT is very high. Hyper’s response has been swift, decisively launching limited-time discounts. Counterattack is necessary, and it remains to be seen how the market will respond!
4. AITO delivered 31,727 cars in March
This time, AITO became the first brand to announce sales figures on April Fool’s Day! Despite most of its competitors failing to meet sales expectations, AITO continues to maintain considerable popularity. With a delivery volume of 31,700 units, AITO has once again surpassed Li Auto. To put it plainly, it’s still a matter of pricing. Both are extended-range SUVs, and the AITO M7 does offer excellent value for money. Now, it remains to be seen how Li Auto will respond.
5. Li Auto delivered 28,984 cars in March
The delivery volume of 28,900 units is honestly not bad. However, what’s frustrating is that Li Auto has been consistently overshadowed by AITO recently. Every time Li Auto announces its weekly delivery figures, it indirectly advertises for AITO. In Li Xiang’s recent apology letter, he also acknowledged the marketing chaos during the launch of the Mega. Regardless, let’s hope that Li Auto can regain its momentum soon!
6. Leapmotor delivered 14,567 cars in March
Among the new forces in the 2014 cohort, aside from Li Auto, Leapmotor has performed the best. The C10 released by Leapmotor some time ago is gradually showing its power. With an 8,295 seat-cabin chip and an integrated central electronic electrical architecture, coupled with a relatively affordable price, the C10 can be said to have almost no shortcomings except for the lack of an 800V charging function. Its good sales are quite normal given its excellent value for money.
7. Changan DEEPAL delivered 13,048 cars in March
DEEPAL is a sub-brand of Changan Automobile, and DEEPAL’s performance last month was quite impressive, with cost-effectiveness being its outstanding competitive advantage. With the launch of the DEEPAL G318, a new category of extended-range off-road vehicles has been created. With the subsequent delivery of the G318, DEEPAL’s sales will have even more growth potential.
8. ZEEKR delivered 13,012 cars in March
The delivery volume of 13,000 units is actually lower than expected. After all, last year’s ZEEKR 007 with 800V was launched, and now the ZEEKR 001 is also equipped with 800V across the board, demonstrating considerable product strength. As for why ZEEKR’s sales haven’t taken off, it’s probably largely related to the Xiaomi SU7. Many people have been waiting for the SU7 to be released and are mostly in a wait-and-see mode. Now that the SU7 mystery has been revealed, ZEEKR dealership orders have also started to increase. It is estimated that for a long time to come, ZEEKR and Xiaomi will be true competitors.
9. Geely Geometry/Geely Galaxy sold 12,882/10,185 cars in March
Geely‘s electric car sub-brands, whether it’s Geometry or Galaxy, have both achieved sales exceeding ten thousand units. Geometry mainly targets the B-end market, with relatively stable order sources, while Galaxy, as Geely’s main C-end passenger car brand, offers quite good value for money. Especially the recently launched Galaxy E8, with its C-class pure electric, 800V architecture, and a price of only 175,900 RMB, it can be considered a strong competitor to Xiaomi SU7. It has to be said that having multiple sub-brands is good for fighting. It proves very useful when besieging individual competitors.
10. NIO delivered 11,866 cars in March
With nearly 12,000 deliveries, it’s better than February. However, to completely break free from the “NIO monthly sales only 10,000” curse, NIO clearly finds it challenging with its existing product lineup alone. That’s why NIO must grit its teeth and roll out the latest Bass policy, offering more discounts to car owners, while also launching the “ONVO” sub-brand. However, ONVO is positioned around 200,000 RMB, coincidentally clashing with Xiaomi SU7. Moreover, Li Bin admitted in a selfie video with Lei Jun that SU7 is too competitive, causing significant pricing difficulties for ONVO. Whether ONVO can rejuvenate NIO depends on Li Bin’s courage in the future.
11. Xpeng delivered 9,026 cars in March
Despite the cheerful appearance of He Xiaopeng attending the Xiaomi SU7 launch event, the truth is that the launch of Xiaomi SU7 poses a significant challenge for Xpeng. The product positioning and pricing overlap considerably. However, Xpeng still has the potential to strike back. Its advanced autonomous driving technology remains the most advanced in the industry. Moreover, with the mid-term upgrade of the Xpeng P7 lineup to full 800V, Xiaopeng has the capability to compete head-to-head with SU7. Xpeng must act swiftly; time is of the essence!
12. Neta delivered 8,317 cars in March
Recently, there have been continuous rumors circulating online about Neta ceasing production, indicating possible operational difficulties. Whether it was Zhang Yong’s live broadcast with Zhou Hongyi a few days ago or the recent announcement of delivery volume, it has been proven that Neta is still alive. The fact that the video of Zhou Hongyi criticizing Zhang Yong could be released also indicates that Neta sincerely hopes for change. Let’s hope that perseverance pays off.
13. Voyah delivered 6,122 cars in March
Voyah, which used to be the first to announce delivery volumes, waited until the end of the month to release them this time. With sales of 6,122 units, it’s still a decent performance compared to previous results. However, for Voyah to further increase sales, it needs to advance 800V technology in its high-end vehicle series and introduce more entry-level models.
14. GWM Ora/WEY brand sold 6022/3608 cars in March
According to the production and sales bulletin released by Great Wall Motors, the group sold a total of 100,000 vehicles in March, which is a decent performance overall. However, when it comes to pure new energy vehicle brands, GWM Ora sold 6,022 units, while WEY sold 3,608 units, which appears to be somewhat dismal. This indicates that Great Wall Motors is more inclined towards choosing traditional fuel-powered vehicle products. Now, Wei Jianjun has already had the Xiaomi SU7 MAX that Lei Jun gave him delivered to the headquarters for careful analysis. It remains to be seen whether this will provide any inspiration to Great Wall Motors.
15. Avatr delivered 5,016 cars in March
As a brand priced at over 300,000 RMB, Avatr‘s performance with 5,016 units is not too bad. However, with the entry of the Xiaomi SU7 into the battlefield, especially the MAX version, it will pose a considerable challenge to Avatr 12. With the 2024 model of the Avatr 12, a more competitive price has been promptly offered in response. It’s no wonder that some netizens in the comments section have expressed, “Thanks to Xiaomi, my Avatr 12 has dropped by 20,000 RMB.”
Car NewsWhat are the three versions of Xiaomi SU7?
On the evening of March 28th, Beijing time, Xiaomi’s sub-brand Xiaomi Automobile officially launched its model, the Xiaomi SU7. The price range for this car is from 215,900 to 299,900 RMB, with a total of 3 configurations available. As the first product of Xiaomi Automobile, the Xiaomi SU7 is positioned as a C-class pure electric coupe. In this article, we will discuss in detail the configuration choices. If you are struggling to decide which of the 3 configurations to choose after watching the launch event, then after reading this article, you will surely gain some insights.
Xiaomi SU7
Let’s start by discussing the first version, the Xiaomi SU7, also known as the base model, priced at 215,900 RMB. Lei Jun emphasized multiple times during the launch event that the entry-level version of the SU7 is not without its merits. But is it really the case? Let’s interpret its configuration. It features a 400V platform, a peak power of 220kW motor, a 73.6kWh lithium iron phosphate battery, 19-inch low-drag wheels, Orin chips, and Xiaomi Pilot Pro, to name a few. Honestly, such configurations are indeed respectable, but by today’s standards in 2024, they are not exceptional. Fortunately, the 7.1-inch LCD instrument panel, 16.1-inch central control screen, and Qualcomm 8295 chip are standard across the lineup, which helps to salvage the situation for this configuration.
Personally, I don’t think the base model offers great value for money. It’s only suitable for those who are willing to pay for the appearance of the Xiaomi SU7. If you just want to experience Xiaomi’s first car, then there’s nothing wrong with opting for this version.
Xiaomi SU7 Pro
Next up is the Xiaomi SU7 Pro, priced at 245,900 RMB. This configuration adds a LiDAR on top of the base model, and the computing chips are upgraded to 2 Orin X chips, resulting in a significant increase in computing power compared to the previous version. However, the actual experience of Xiaomi Pilot Max is still unknown. At the same time, this version also increases the battery capacity, achieving a pure electric range of 830 kilometers. Taking a comprehensive perspective, excluding those who pursue extreme performance, I personally believe that this version of the Xiaomi SU7 should be suitable for the majority of people.
Xiaomi SU7 Max
Finally, we have the top-of-the-line model, the Xiaomi SU7 Max, priced at 299,900 RMB. This configuration builds upon the previous version with updates including 25 speakers, 19-inch sport wheels, active side wings for the main driver, front Brembo four-piston calipers, air springs, CDC adaptive damping suspension, electric tail wing, electric suction doors, and a 56-inch HUD heads-up display. More importantly, this version is the only one in the lineup with dual motors, with a front motor maximum power of 220 kW and a rear motor maximum power of 275 kW, achieving an acceleration time of 2.78 seconds per hundred kilometers.
To be honest, the configuration of this version is quite impressive, but with it comes a further increase in price by several tens of thousands RMB. If you have a sufficient budget, seek further performance and driving experience, and are also a fan of Xiaomi, then this version is certainly worth considering.
Xiaomi dares to challenge the sports coupe segment with its first car model, which deserves applause for CEO Lei Jun. For those who follow the automotive market, it’s clear that this segment has always been lukewarm. As a newcomer in this field, Xiaomi undoubtedly has high expectations internally for this product. For friends who are waiting to make a purchase decision, you can also leave a comment below to let me know which version of the Xiaomi SU7 you would buy.
Car NewsHow is the sales performance of Zeekr 007?
Sales volume
On February 1, 2024, Zeekr announced exciting new delivery data: In January, Zeekr delivered a total of 12,537 vehicles, a remarkable 302% increase compared to the same period last year, achieving a strong start to the new year. The cumulative delivery volume of Zeekr brand vehicles is also approaching 210,000 units, and all models have achieved outstanding safety performance with “zero spontaneous combustion,” once again setting a new benchmark for global electric vehicle safety.
International market performance
The Zeekr 007 has not only sparked a craze in the Chinese market but has also shone brightly on the international stage. At the highly anticipated CES 2024 exhibition, the Zeekr 007 attracted countless international attention with its unique “ZEEKRSTARGATE” integrated smart screen design, combining innovation with cutting-edge technology. This perfect fusion of design and technology has positioned the Zeekr 007 as a leader in the pure electric intelligent field, earning widespread praise and acclaim internationally.
What are the highlights of Zeekr 007?
The Zeekr 007 demonstrates outstanding performance, safety, and intelligence across multiple areas. Its impressive performance is highlighted by its acceleration from 0 to 100 km/h in just 2.84 seconds, a maximum range of 870 kilometers, and the ability to increase range by 610 kilometers with just 15 minutes of charging. In terms of safety, the Zeekr 007 features an integrated cast aluminum rear body design and has passed industry-leading safety tests, equipped with eight layers of battery safety protection measures, providing users with rock-solid safety assurance.
Zeekr services in China
In addition, while perfecting its product lineup, Zeekr is also continuously strengthening the construction of its user service ecosystem. Currently, Zeekr has established 357 directly operated stores worldwide, among which 5 Zeekr Centers have won multiple international design awards for their unique urban cultural space designs. In terms of charging networks, Zeekr insists on independently researching, building, and operating ultra-fast charging networks. It has already deployed nearly 140 cities and 888 stations nationwide and plans to accelerate the implementation of the “thousands of stations and tens of thousands of piles” plan to meet the growing charging needs of users.
Zeekr’s product line
It is worth mentioning that models such as the Zeekr X, Zeekr 009, and Zeekr 001 have recently completed their value upgrades, further enhancing their competitiveness. Among them, the Zeekr X brings users a brand-new driving experience with its clear design, intelligent control, and great value. The Zeekr 009 unlocks a higher level of luxury experience for users through comprehensive upgrades in luxury product capabilities. Meanwhile, the Zeekr 001 sets a new benchmark for the value of luxury pure electric vehicles in the 300,000 RMB price range with the introduction of limited-time benefits.
With its innovative products and continuously improving service ecosystem, Zeekr is leading the development trend of the global new energy vehicle market. In the future, Zeekr will continue to bring users more high-quality, high-performance new energy vehicle products, contributing more Chinese power to global green travel.
Car NewsWhat is the current status of the electric car industry in Ethiopia?
Ethiopia has taken a significant step towards sustainable transportation and environmental protection, as evidenced by the growth in the number of electric cars. The Ethiopian Ministry of Transport recently announced that the country’s electric car fleet has surpassed the milestone of 100,000 vehicles, marking a notable achievement in Ethiopia’s efforts to promote clean energy and reduce carbon emissions.
Baru Haksan, Deputy Minister of Transport of Ethiopia, pointed out that the government’s tax incentives and proactive transformation of the automotive industry have greatly facilitated the proliferation of electric cars in Ethiopia. These policies have not only spurred the growth of electric car imports but also encouraged domestic and foreign investors to invest in renewable energy projects in Ethiopia, serving as effective measures to combat the increasingly severe air pollution problem.
Electric car charging station
To support the use of electric cars, cities like Addis Ababa have established 60 charging stations to meet the growing demand for electric cars. The deployment of these charging stations not only provides convenience for electric car users but also demonstrates the Ethiopian government’s commitment to promoting green transportation.
Looking ahead, Baru Haksan revealed that the Ethiopian government plans to further expand the electric car charging network to more cities in regional states. Additionally, the government plans to introduce a range of new electric car models with longer range capabilities to meet the needs of different users. These measures are expected to further accelerate the development of electric car industry in Ethiopia and contribute to the country’s sustainable development efforts.
Car NewsChery sets up factory in Thailand to produce electric cars
Who is the best-selling Chinese automaker overseas? Most people might say SAIC, BYD, or Geely. However, from the perspective of a single brand, Chery is undoubtedly the “king of overseas markets.”
Data shows that in 2023, Chery Group’s annual sales reached 1.8813 million vehicles, a year-on-year increase of 52.6%, ranking just below BYD and Changan among domestic brands. Of particular note is Chery Automobile‘s performance in overseas markets, with exports reaching 937,100 vehicles, a year-on-year increase of 101%, far exceeding the industry average growth rate.
Recently, Chery announced their next move in the Thai market.
Chery in Thailand
Chery has announced plans to establish a new electric vehicle assembly plant in Rayong, Thailand, with completion and official operation slated for 2025. This new electric vehicle assembly plant will be regarded by Chery as a production hub for right-hand drive models in the Southeast Asian region. Additionally, it will export vehicles to markets beyond Southeast Asia, including Australia, neighboring Pacific island nations, and Middle Eastern countries.
According to Thai media citing Chery International’s Vice President for the Southeast Asia Region, Mr. Qi Jie, Chery plans to divide the factory establishment plan into two phases. The first phase is expected to commence in 2025 with an estimated annual production capacity of 50,000 vehicles, while the second phase aims to expand the production lines to reach an annual capacity of 80,000 vehicles by 2028.
Mr. Qi also mentioned that 70% of the production at this electric vehicle assembly plant will be dedicated to Chery’s own brand, including electric vehicles from its subsidiary brand Omoda. The remaining 30% of production will be allocated to produce plug-in hybrid electric vehicles (PHEVs) from another Chery subsidiary brand, Jaecoo.
Incentive policies of the Thai government
The Thai government has introduced an electric vehicle subsidy policy called EV3.5 to promote the widespread adoption of electric vehicles in the country. Under this policy, the Thai government will waive import duties and domestic taxes on electric vehicles from 2024 to 2027. Chery has explicitly stated that this move by the Thai government will effectively drive the development of the electric vehicle sector in the country. It is also one of the reasons that prompted Chery to establish a factory locally.
Car NewsWhen is the official release date for the Xiaomi SU7?
Time
March 12th news, this morning, Xiaomi Motors officially announced that the Xiaomi SU7 will be officially launched on March 28th. In other words, we can earliest buy the Xiaomi SU7 on March 28th.
In the official announcement on Weibo, Xiaomi Motors stated, “Fulfilling the promise of three years, listing means delivery, and delivery means volume.” With the release date confirmed, the only key information remaining about the Xiaomi SU7 is its price.
City
Meanwhile, Xiaomi also announced that pre-orders are now available in 29 cities nationwide, including Beijing, Shanghai, Guangzhou, and Shenzhen, with a total of 59 stores opening simultaneously. Users can now register to obtain the first batch of test drive qualifications. The test drive event will start on March 28th.
As Xiaomi’s first car model, it has attracted considerable attention since its debut. The new car is positioned as a coupe model with a highly sporty exterior design. It also performs well in terms of technology, power, and other aspects.
SU7 Highlights
Based on the currently disclosed information, the new car has dimensions of 4997/1963/1440mm (length/width/height) and a wheelbase of 3000mm. Its drag coefficient is an excellent 0.195Cd. In terms of interior configuration, the SU7 is built on the Xiaomi Smart Life concept and is powered by the Qualcomm Snapdragon 8295 chip. Additionally, it features Xiaomi HyperOS, a 16.1-inch screen with 3K resolution, and supports CarPlay and AirPlay. Furthermore, the SU7 will be equipped with a flip-up dashboard, HUD (head-up display), and rear seats that support mounting a Xiaomi tablet for expanded functionality.
Xiaomi SU7 Power
In terms of powertrain options, the Xiaomi SU7 will offer two variants: single-motor and dual-motor. The single-motor version will provide 299 horsepower, accelerate from 0 to 100 km/h in 5.28 seconds, and feature a 73.6 kWh battery with a range of 668 km under CLTC conditions. The dual-motor version, on the other hand, will deliver a maximum power of 672 horsepower, achieve a 0-100 km/h acceleration in 2.78 seconds, and come with a 101 kWh lithium-ion battery, offering a range of 800 km under CLTC conditions.
Price
With the announcement of the release date, the biggest suspense surrounding the Xiaomi SU7 now revolves around its price. However, this also happens to be the greatest challenge facing Xiaomi’s entry into the automotive industry. How much does it cost to buy Xiaomi SU7? This remains to be seen, and we will continue to closely follow developments in this regard.
Xiaomi SU7 picture during transportation
The following are pictures of Xiaomi SU7 taken on the road during transportation.
Car News2024: A Pivotal Year for IM Motors
Nowadays, information in the automotive industry updates so rapidly. What used to dominate the headlines for days might only stay in the spotlight for a day or even just a few hours now. Amidst all the recent major news, there’s one piece of information worth highlighting, and that’s IM Motors securing over 8 billion yuan in Series B equity financing. This should be the largest new car financing deal of 2024 so far.
8 billion yuan is no small amount. It’s something that struggling new players in the automotive industry dream of. However, for IM Motors, backed by SAIC Group, money isn’t the most crucial factor.
As the saying goes, “Love flows to those who don’t lack love, and money flows to those who don’t lack money.”
The reality is just that cruel.
1. Behind the 8 Billion Financing
Compared to the 8 billion financing amount, what’s more crucial is the roles of the various parties involved in the financing. By delving deeper, you’ll uncover more interesting information.
IM Motors’ Series B financing is led by Zhongyin Asset, a subsidiary of Bank of China, with participation from Nongyin Investment, Lingang Group, and others. SAIC Group, Gongyin Investment, Jiaoyin Investment continue to invest, with follow-up investment from technology companies such as CATL, Momenta, and Qingtao Energy.
Here we see both continued confidence from Chinese state-owned capital and deep integration with technology enterprises. We mainly focus on the latter.
CATL
Contemporary Amperex Technology Co., Limited is well-known to everyone as the leader in the global power battery field. Their involvement in IM Motors at this critical stage of new car entry into the elimination round implies a strong vote of confidence from them towards IM Motors.
Previously, SAIC Group deeply participated in the growth of CATL (investment) and established a joint venture company to deepen cooperation. Now, investing in IM Motors also signifies that both parties have completed a deeper level of interest and resource binding.
Momenta
Similarly, there’s the autonomous driving startup, Momenta. IM Motors has had a long-standing cooperation with Momenta, jointly developing the IM AD intelligent driving system. Additionally, SAIC Group has twice invested in Momenta. Now, Momenta’s investment in IM Motors will help both parties further deepen their cooperation in the field of intelligent driving.
Qingtao Energy
Another company worth mentioning is Qingtao Energy. Many people are not familiar with this company. Qingtao Energy is also a battery supplier, specializing in solid-state batteries.
SAIC Group has a very close cooperation with Qingtao Energy, having participated in multiple investments in the latter. As of the end of August 2023, SAIC Group had invested approximately 2.9835 billion yuan in Qingtao Energy, indirectly holding about 15.29% of its shares, making it its largest shareholder.
The two parties also established a joint venture, SAIC Qingtao, in August last year to develop a new generation of semi-solid-state batteries. These batteries will be used in IM Motors’ flagship model L6, which will be launched this year, and the maximum range of the CLTC will exceed 1,000 kilometers. Now, with Qingtao Energy investing in IM Motors, it’s another mutually beneficial choice.
Therefore, this financing is not just a simple financial investment, but more about resource binding. It is conducive to forming strategic synergy between the upstream and downstream of the industry chain, continuously expanding IM Motors’ ecosystem, helping IM Motors better integrate resources, and enhancing its competitiveness.
Plan
Regarding how this money will be used, IM Motors has outlined several points:
1) Used for the development of next-generation intelligent vehicles.
2) Research and development of advanced intelligent driving and future smart cabin technologies.
3) Accelerating expansion of market channels.
4) Venturing into overseas markets.
This year will be a crucial year for IM Motors to break through.
2. Product Refresh and New Releases
IM Motors’ true development started with the LS6, which was IM Motors’ first hit model. In its first month on the market (October), it sold 3,627 units, and sales rose to 8,156 units and 9,878 units in November and December, respectively.
By February of this year, the IM Motors LS6 had been the best-selling “mid-to-large-sized pure electric SUV” for four consecutive months.
In late February, the all-new IM Motors L7 was officially launched with a starting price of 299,900 yuan. It is equipped with the “only class-leading full-time four-wheel intelligent control chassis”, upgraded across the board to 5D luxury executive seats, and comes with laser radar + Orin X chip as standard.
In addition, there’s an 8,000 yuan deduction discount, a value of 54,300 to 55,800 yuan in configuration upgrades, and the IM AD intelligent driving full-function package valued at 36,800 yuan is also available for free for life. Even the entry-level model has high specifications and is very competitive, showing IM Motors’ sincerity.
Furthermore, the all-new IM Motors L6, which integrates advanced intelligent electrification technology, will also be launched this year. It accelerates from 0 to 100 km/h in less than 2 seconds and has a maximum range of over 1,000 km according to CLTC.
With the LS6 already performing so well, expectations are even higher for the L6.
In terms of sales, IM Motors sold 38,253 vehicles last year. This year, IM Motors has set a target of 120,000 to 130,000 units for itself, aiming high.
Clearly, both the L6 and LS6 bear heavy responsibilities.
In addition to refreshing and releasing new products, IM Motors has also begun to seek sales overseas.
3. Rapidly Going Global
In February of this year, IM Motors made its first appearance at the Geneva Motor Show, marking its first step towards internationalization.
Unlike other brands that need to start from scratch to establish sales and service systems in overseas markets, IM Motors will fully leverage SAIC Group’s existing network of over 2,000 channels covering more than 100 countries’ mainstream segmented markets to efficiently enter overseas markets.
Specifically, in 2024, the IM Motors L7 and LS7 will debut in emerging markets such as Mexico, the Middle East, South America, and Southeast Asia. In 2025, the IM Motors LS6 and L6 will enter the global market.
Why is it said that IM Motors has this capability?
In terms of overseas exports, SAIC has always been a leader, ranking first in the domestic industry for eight consecutive years. With SAIC Group’s strong overseas marketing network, mature operational management model, and good international cooperation relationships, IM Motors can save a lot of time and costs and enter overseas markets more quickly, accelerating the brand’s globalization process. At the same time, expanding into overseas markets can also enhance IM Motors’ international influence, thereby benefiting its domestic market development.
A very typical case is the MG brand. In 2007, MG launched its “global strategy” for going global. In 2009, 2011, and 2017, MG’s global annual sales surpassed the thresholds of 10,000, 50,000, and 150,000 units respectively. 2019, MG’s global sales reached 300,000 units, and it became the “China’s single-brand overseas sales champion” for the first time. In 2023, MG’s global sales reached 840,000 units, ranking first in China’s single-brand exports for five consecutive years. This year, MG is aiming to challenge annual sales of 1 million.
IM Motors’ task
Now, the focus of going global has shifted to IM Motors. IM Motors’ task is clear: to tell the IM Motors story to overseas users and establish a high-end brand image in overseas markets, leading SAIC Group’s globalized products into the high-end intelligent automobile market in major overseas markets.
However, achieving this goal is not easy.
4. Intelligent Breakthrough
The efforts made by IM Motors in advancing its intelligent strategy are evident to all.
Regarding the NOA (Navigate on Autopilot) on highways and expressways, the functionality was officially launched in April 2023 and achieved nationwide coverage by December of the same year, in just 8 months.
As for urban NOA, on January 23rd, the IM Motors urban NOA was officially launched, with the main urban areas of Shanghai being the first to open. Not only is the landing speed fast, but IM Motors’ advanced intelligent driving experience is also excellent, and its usability is very high.
This means that IM Motors’ NOA for highways and expressways, as well as urban NOA, are both steadily leading the industry.
IM Motors managed to catch up with competitors who had 9 years of intelligent driving experience in just over 2 years, a speed that is not common in the entire industry.
Future plan
According to IM Motors, 2024 will be the “harvest year” for IM AD advanced intelligent driving:
In the first quarter, the nationwide public beta of the urban commuting mode will be launched.
In June, the map-free urban NOA will be launched to accelerate city openings.
Throughout the year, commuting mode will be opened in hundreds of cities.
Throughout the year, advanced intelligent driving functions such as one-button AI driving 2.0, memory parking, and parking in stereo parking garages will also be rolled out one after another.
However, considering that the intelligent driving of leading players has already begun to be “able to drive across the country,” IM Motors’ actions need to be even faster.
In addition, IM Motors has become one of the first Chinese brands to obtain an L3 road test license. From the current trend and policy orientation, this year is likely to be the first year of L3 autonomous driving landing. IM Motors has started early positioning and layout, which is very forward-looking.
Smart cabins and smart controls
In addition to intelligent driving, IM Motors has also made advancements in smart cabins and smart controls. About cabins, it brings a variety of innovative features such as full-domain digital vision filling the blind spot, rain and night mode, and one-button AI driving, while also adding large models to the car. In terms of smart controls, IM Motors will launch the “ICS intelligent comfort braking” function in the first quarter of this year, integrating IM Motors’ self-developed algorithms with high-performance braking hardware to bring better braking performance and improve driving experience.
How diligent was IM Motors last year? The IM Motors vehicle system was iterated 13 times throughout the year, with as many as 8 major OTA updates, making it one of the car companies with the most software iterations.
This new round of financing will also accelerate the research and development of IM Motors’ advanced intelligent driving, smart cabin, and smart control technologies, creating deeper and wider “moats” for the brand’s long-term development.
Intelligence is becoming one of the key factors in IM Motors’ breakthrough.
5. Conclusion
Let’s summarize IM Motors’ three major tasks for this year:
1) Achieve annual sales of 120,000 units.
2) Expand overseas.
3) Maintain industry leadership in intelligence.
Each task is extremely challenging.
At the same time, 2024 is destined to be an extraordinary year. The special aspect is that at this point in time, your most feared opponent, Apple, is not participating, and all other contenders have already entered the arena. The window for new car manufacturing has officially closed, and at the same time, the price war is intensifying. This will be a fierce battle in the new car market, determining winners and losers, and even life and death.
Securing an 8 billion yuan financing, IM Motors has made a good start for itself this year. Next, it remains to be seen how IM Motors will accomplish its own counterattack and evolution.
Car NewsTop ten sales rankings of automobile manufacturers in February 2024
On March 8th, the China Passenger Car Association released the automotive market situation for February. The data indicates that in February, retail sales of passenger vehicles reached 1.095 million units, down 21% year-on-year and down 46.2% month-on-month. Meanwhile, on the wholesale level, passenger car manufacturers across the country wholesaled 1.295 million units in February, marking a 19.9% year-on-year decrease and a 38% month-on-month decrease.
Retail and wholesale sales of passenger vehicles both declined in February.
Indeed, that’s a common occurrence. February marks the Chinese Lunar New Year, during which people in China typically take time off to celebrate. Additionally, February has the fewest days of any month in the year. Let’s take a look at the specific ranking.
Automobile Manufacturers Retail Sales Ranking
From the perspective of manufacturer rankings, February saw two champions. BYD Auto topped the list in retail sales, selling 119,000 units, while Chery Automobile claimed the top spot in wholesale sales with 138,000 units sold.
The second and third places in retail sales were held by Geely Auto and Changan Automobile, with sales of 87,000 units each. FAW-Volkswagen and SAIC Volkswagen ranked fourth and fifth respectively, with sales of 85,000 units and 63,000 units.
The sixth to tenth places in retail sales are respectively held by Chery Automobile (57,000 units), SAIC-GM-Wuling (46,000 units), GAC Toyota (43,000 units), BMW Brilliance (40,000 units), and Dongfeng Nissan (39,000 units).
Automobile Manufacturers Wholesale Sales Ranking
Although ranking only sixth in retail sales, Chery Automobile tops the wholesale sales, surpassing BYD Auto, which ranks second with 122,000 units, and Geely Auto, which ranks third with 111,000 units.
The fourth to tenth ranking car companies are Changan Automobile (84,000 units), FAW-Volkswagen (76,000 units), SAIC Volkswagen (63,000 units), Great Wall Motors (61,000 units), Tesla China (60,000 units), SAIC-GM-Wuling (49,000 units), and BMW Brilliance (42,000 units).
It is worth noting that three car companies with significant differences between retail and wholesale sales are Chery Automobile, Great Wall Motors, and Tesla China. Based on past experience, more than half of the sales of Chery Automobile and Tesla China are exported to overseas markets.
Although overall sales declined in February, exports continued to grow. The data shows that in February, exports of passenger vehicles (including complete vehicles and CKD) reached 298,000 units, an increase of 18% year-on-year but a decrease of 17% month-on-month.
The China Passenger Car Association predicts that due to various industries quickly returning to normal operations after the Chinese New Year holiday, March is expected to see a rapid month-on-month growth in production and sales.
Car NewsWhat upgrades have been made to the 2024 model of the Zeekr 001?
The Zeekr 001 has just released its 2024 model. Compared to the 2023 model, there are not many changes in appearance, but there have been many upgrades in configuration. Let’s take a look at the changes in the 2024 model.
Appearance
According to Zeekr‘s official statement, the new Zeekr 001 still chooses to retain the hunting style of the previous 001 model, making only more sporty changes to details such as the front and rear bumpers and wheels. Does this count as a generational change?
Battery upgrade
Where the changes are not visible or minor, the Zeekr 001 has made significant advancements elsewhere. Firstly, out of approximately 2000 “assembly-level” components in the electric vehicle, the new Zeekr 001 has upgraded 1118 components. Additionally, in response to the market’s obsession with “800V,” the new Zeekr 001 also utilizes a full-stack 800V high-voltage system, with upgrades in charging efficiency, battery capacity, and thermal management systems. We also see the introduction of the 100kWh Kirin battery and the 95kWh CATL battery. The new Zeekr 001 equipped with the Kirin battery has a range of 750km, while the four-wheel-drive version equipped with the CATL battery can reach a range of 675km.
Of particular note is that the maximum charging rate of the 100kWh Kirin battery is 4C, requiring only 15 minutes to charge from 10% to 80%. The maximum charging rate of the 95kWh CATL battery is 5C, requiring only 11.5 minutes to charge from 10% to 80%. With fast charging speeds, there must also be better thermal management. The second-generation all-round thermal management system of the new Zeekr 001 improves the overall vehicle heat dissipation performance by 40% and reduces heating energy consumption by 13.4%.
Driving experience
The Zeekr family has always pursued excellence in handling and performance, and the newly launched Zeekr 001 continues this trend. Building on the technical foundation of the previous 001 FR, both the rear-wheel-drive and four-wheel-drive versions of the new Zeekr 001 have improved their zero-to-hundred acceleration compared to previous models. The four-wheel-drive version with a maximum power of 580kW and maximum torque of 810 N·m outperforms a 6.7L V12 engine.
To make the Zeekr 001 suitable for more scenarios, features like dual-chamber air suspension and CCD electromagnetic damping system are present in the new model. Additionally, the Zeekr 001 can analyze road conditions such as road undulations and speed bumps ahead using the front camera and LiDAR, adjust the suspension stiffness, and provide consumers with a better driving experience.
Assisted driving functions
As mentioned earlier, LiDAR is now standard across the entire Zeekr 001 lineup. With the help of LiDAR, the new Zeekr 001’s intelligent driving solutions are enhanced, greatly increasing the recognition rates of vehicles, pedestrians, and non-motorized vehicles. In addition, intelligent parking and high-speed NZP functions in intelligent driving have also been improved to varying degrees.
Configuration in the cockpit
Inside the car, in addition to installing the Qualcomm Snapdragon 8295 chip, the entire Zeekr 001 lineup is also equipped with a Yamaha sound system consisting of 28 speakers. In the 15.05-inch OLED central control screen, the new Zeekr 001 also introduces the “Super Sense 5D Movie” experience mode, where the audio, air conditioning, seats, ambient lighting, and fragrances can interact with the movie plot, making in-car entertainment more vivid and interesting.
Furthermore, the new Zeekr 001 also provides the “Health Decompression Chamber” for the interior, the smart adaptive seats in the Z-Sport version, and the LV partition dimming skylight. These features and configurations also provide consumers with a different user experience. With a full-stack 800V system, new batteries, and more powerful performance, coupled with the use of the 8295 chip in the car, these features and configurations alone can make the Zeekr 001 feel “new.” Although there haven’t been many changes to the exterior appearance, the many internal configuration upgrades of the new Zeekr 001 will surely attract more consumers who prefer the hunting style model.
Car NewsWhich car company is the ultimate winner of MPVs in 2023?
Introduction of MPV
MPV (multi-purpose Vehicles), multi-purpose vehicles, is evolved from the touring car, which combines the wide passenger space of a station wagon, the comfort of a sedan, and the functions of a van in one, generally for the two-compartment structure, can sit 7-8 people.
Strictly speaking, MPV is a model mainly for family users, Wisdom Research Data Research Centre, with the changes in the family structure and the increase in fuel prices, MPV-type multi-purpose vehicles have become a new type of car family-style consumption. This increase in family-style consumption will greatly accelerate the MPV into the family car market, and family car purchase has become a new focus of the MPV market car purchase.
MPV expectations
New energy vehicles have set the whole MPV market on fire, of course, the hottest is still the middle and high-end MPV models, the main reason is that the new energy technology has solved the problem of MPV high-end, such as the power system, user experience and intelligent applications, etc., so the emergence of Denza D9, Voyah dreamer and Xpeng X9 and other outstanding models, and the main market in China’s first-tier and second-tier cities at present. Cities in China.
China’s MPV market reached a sales peak of 2.5 million units in 2016, but it is dominated by low- and mid-range passenger and business models in the A0 and A classes.
How much will the MPV market change in 2023?
Over the past few years, this market has continued to shrink to around 1 million units due to fuel vehicle technology upgrades and consumer upgrades. The large space advantage of MPVs is a very clear and well-defined user demand, but only due to the fact that there is not yet a good supply of technology and products.
Now look, electrification intelligent technology to redefine MPV, take the lead in the high-end new energy MPV market to achieve a breakthrough, will activate the entire MPV market, and not only in the middle and high-end market, maybe in the middle and lower end of the market will have more space for development and value.
We believe that MPVs at this stage will first break through the high-end and then move to the low-end market through technological affirmative action, which will bring the user’s demand for large space back to the third-tier and following cities.
The MPV market will enter into a phase of rapid development in 2023; in the past, impressions of MPV models were dull, giving people a common feeling but no desire to buy. But from 2023, MPV models injected with new energy technology after the appearance of the design have changed a lot.
Observed that the market in the middle and high-end new energy MPV, the overall design is obviously free from the shackles of fuel vehicles, in the appearance of the design above the change into a simple front face shape, such as Xpeng X9 mecha wind design, Zeekr 009 luxury front air grille.
Innovative design can undoubtedly inject more vitality and freshness into MPV models, which will naturally attract more attention. At the same time, the new energy MPV also pays close attention to the inherent functionality and technology. Li MEGA and Xpeng X9 are both equipped with the 800V super-charging platform, and even the high-end MPV model also adopts the integrated die-casting technology, which is only found in sedans and SUVs before.
MPV car sales in 2023
With the arrival of 2024, various car companies have released their 2023 final “report card.” 2023 MPV, in the first place, which car company?
Denza brand is also BYD’s pioneering model in laying out the mid-to-high-end MPV market, and the Denza D9 has shown a high degree of enthusiasm since it entered the market.
Denza Automotive’s December 2023 sales have been announced, and Denza D9 has emerged as the top seller in the domestic full-category MPV market in 2023, with cumulative sales of 119,182 units from January to December.
Next is the Xpeng X9, which was recently launched and also announced the order book as exceeding 30,000 units.
The third is the BUICK brand, with overall sales of 131,258 BUICK MPVs in 2023.
Another strong player in the MPV segment is the GAC Trumpchi, with sales of 164,159 GAC Trumpchi MPVs in 2023, a 59 per cent increase. To achieve such a result, GAC has naturally relied on the full force of a number of MPV models, including the Trumpchi M8, M6, E8 and E9.
What will be the MPV market trend in 2024?
The increasing popularity of new energy MPVs is a fact, as can be seen through the market results of hot-selling MPVs such as Denza D9, Buick GL8 and Trumpchi M8.
Judging from the market results of major models in the MPV market, it is estimated that the overall architecture of the MPV market will not change much in 2024. The bigger change is the model design; maybe it will be more sci-fi or smarter. But no matter what, the market play will not change, only the strength of the models in place to attract consumers.
Summary
2023 Autonomous new energy MPVs have been slowly invading the market share of traditional fuel MPVs, but fuel MPVs are still firmly dominant in the market thanks to years of cultivation.It is expected that all major car companies will learn from the market experience of these models and bring more hybrid MPVs in the future.