Motors Tracker

  Evergrande Health Industry Group, which is spearheading Chinese property developer Evergrande Group's foray into the electric vehicle sector, will change its name to China Evergrande New Energy Vehicle Group before the Hong Kong stock market opens on Sept. 1, the firm said yesterday .   The company's stock ticker [HKG:0708] will remain unchanged, it added. The firm has become the country's most valuable emerging NEV maker with a market cap of HKD222.9 billion (USD28.7 billion), more than rival Nio which was worth USD21.1 billion as of the close of markets yesterday. Evergrande Health is developing its NEV business at full speed and aims to become the world's largest and most powerful green energy car company within the next three to five years, the Guangzhou-based firm said on July 27.   The firm unveiled six vehicle prototypes on Aug. 3. Pricing and other details have yet to be revealed.

China's largest new energy vehicle battery maker Contemporary Amperex Technology swallowed an 8-percent decline in its first-half net profits as the Covid-19 pandemic pummeled the macro economy, triggering a decline in NEV sales volume. CATL reported CNY18.8 billion (USD2.7 billion) in first-half operating revenue in an annual 7.08 percent drop, and realized net profit of CNY1.9 billion, according to the company's half-year earnings report it issued yesterday. The Ningde, Fujian province-based firm did not issue its customary first-half and third-quarter forecasts this year. China produced 350,000 NEVs and sold 336,000 units domestically in the first six months, down a respective 42 percent and 44 percent on the year. CATL's operating revenue from power battery sales plummeted 21 percent to CNY13.5 billion over the period in consequence. Shipments have increased markedly as the pestilence eases and the macro economy gradually recovers, it added. The news came as no great su...

  German auto giant Volkswagen will begin road testing self-driving cars in VW's first such pilot in the globe's largest car market to run eventual travel services in Hefei in East China from next month, with the passenger-bearing tests to open to the public at large next year, Shanghai Securities News reported. The government of Hefei, a relatively less developed city in China's Yangtze River Deltawhich is the capital of Anhui province, issued its first autonomous vehicle test license to Beijing-based Volkswagen Group China yesterday. China is a fertile ground for driverless vehicle pilots. Toyota-invested Pony.ai, Baidu, Nissan-backed WeRide and Didi Chuxing are all trialing self-driving cars in various cities there as carmakers and tech firms plow billions into the new technology, Reuters reported yesterday. The fleet serving the testing project comprises VW brand Audi's e-tron electric sport utility vehicles. The 16 square-kilometer trial area, which includes a 80-k...

去年开始的车市普降，叠加今年新冠肺炎疫情影响，热闹繁荣的汽车市场，就像选秀节目进行到了中期公演，加速淘汰。 造车新势力纷纷遭遇流动性危机， 赛麟汽车创始人远遁美国，拜腾汽车令员工无限期休假，博郡汽车多位高管离职。 而资本市场对那些已经经过验证的头部造车企业，从不吝啬，美国电动车制造企业特斯拉股价从年初的 800 美元突破 2000 美元，市值超过其他美国上市车企市值之和，蔚来汽车股价也从 3.72 美元增长至 14.12 美元，市值达 USD16.72 billion 。 市场渴望来自汽车领域的新鲜血液，造车企业也期待用公开市场上资本的力量来武装自己，按照成立以来交付量算得上新造车企业前三名的小鹏汽车加速进入公开资本市场。 据小鹏汽车向纽交所提交的报告，小鹏汽车有意发行 8500 万股的美国存托股票，每股每股美国存托股票相当于两股 A 类普通股，售价在 11-13 美元 / 股，募集 11.1 亿美元。如果按照 13 美元每股的价格，小鹏汽车的市值将达 91.7 亿美元。 招股书披露，小鹏汽车创始人何小鹏持有约 3.92 亿股，约占总股本的 31.6% ，为小鹏汽车最大股东。小鹏汽车联合创始人、总裁夏珩持股 4.9% ；董事和高管共计持股 40.9% 。此外，倩碧控股持股 26.4% 、淘宝中国控股 14.4% ，其他主要股东还有 IDG 资本、纪源资本、晨兴资本等。   今年上半年，小鹏汽车营收 10.03 亿元，净亏损为 7.96 亿元， 2019 年全年，小鹏汽车实现营收 23.21 亿元，净亏损 36.92 亿元人民币； 2018 年全年，小鹏汽车营收为 970 万元，净亏损 13.99 亿元。从 2018 年迄今，小鹏汽车亏损 58.87 亿元，但今年上半年亏损有所减少。 2018 年 11 月，小鹏汽车推出首款 SUV 车型小鹏 G3 ，由海马汽车代工生产，迄今共交付了 18,741 辆，今年 6 月开交付的轿车小鹏 P7 ，在于今年 5 月建成的肇庆工厂生产，如今交付了 1966 辆。 尽管中国汽车市场竞争激烈，何时盈利具有不确定性，且中美之间的不确定性可能影响其境外上市估值，但鉴于市场上同类企业并不多且表现不错，小鹏会受到投资者的追捧。

Xpeng, a Chinese smart electric vehicle producer, seeks to raise USD1.1 billion from its initial public offering on the New York Stock Exchange  with a ticker ‘ XPEV ’, being the 3 rd  Chinese carmaker to get listed in the  world ’ s largest capital market  after Nio and Li Auto.  The Guangzhou-based firm is selling 85 million American depository shares (ADS) with a price between USD11 and USD13, according to the firm’s files submitted to the US Stock Exchange Commission  yesterday . XPeng ’ s market capitalization is expected to be USD9.17 billion if the share price is fixed at USD13.  BofA Securities, Credit Suisse Securities (USA) and J.P. Morgan Securities are acting as joint book-running managers of the offering and as representatives of the underwriters.  Simplicity Holding Limited holds 2 6.4  percent of XPeng, the e-commerce giant Taobao China Holding holds 14.4  percent, IDG entity has 6.2 percent, while the executive team has 4...

China’s Contemporary Amperex Technology, the world’s biggest power battery maker, and Mercedes-Benz are upgrading their partnership with the aim of giving the German carmaker’s new EQS luxury sedan mileage of over 700 kilometers and double the charging speed of current models. The arrangement includes the full range of battery technologies, including cells and entire battery systems, along with the shared development of cutting-edge technology, Ningde, Fujian province-based CATL said in a statement yesterday. “Mercedes invented the car more than 130 years ago and has developed its technology with countless innovations,” CATL founder and Chief Executive Robin Zeng said. “This combined with CATL's expertise in battery, will be a decisive step to both parties' electrification strategies.” The collaboration will make CATL a leading supplier of Mercedes-Benz, under Stuttgart-based auto giant Daimler, to guarantee the battery supplies of the EQ series in the n...

Didi Chuxing, China’s biggest car-hailing firm, is taking the lead in preparing the world’s first operational and safety rules for the entry of self-driving taxis into the mass market, the 21st Century Business Herald reported today. Other big players in the autonomous vehicle sector, such as Baidu, Tencent Holdings and BAIC Motor, as well as government departments, experts and research institutions are all contributing to the discussions, it added. The first meeting was held online two weeks ago, a participant told the newspaper. It discussed standards for the management of vehicles, passenger safety and requirements for test drivers. Didi Chuxing, which has eight years of experience in online car-hailing operations, is in a better position than most to give advice and can compile a mass of data for simulation training, an industry insider said. Robotaxis are already available along certain routes in some Chinese cities. Didi Chuxing has a fleet in Shanghai that it introduced in J...

SAIC Motor’s sales were up 4 percent year on year in July, marking the third month in a row that China’s biggest automaker saw growth despite the challenges posed by the Covid-19 pandemic. SAIC sold 457,558 vehicles in July, according to data released by the Shanghai-based firm today. One of its joint ventures with the US’ General Motors spearheaded the gains, with SAIC-GM-Wuling shifting 130,000 autos, almost 20 percent more than the same period last year. Its JV with Germany’s Volkswagen, however, saw sales drop 7.6 percent to 134,000 vehicles. Production was cranked up by 23 percent in July from the same period last year, with the automaker churning out 474,581 units that month.

BAIC Bluepark New Energy Technology, the new energy vehicle arm of China’s state owned carmaker, is set to raise CNY5.5 billion (USD 788.8 million) via a private   placement, with proceeds to go to various electric and automatic driving vehicle projects to hone the competitiveness of its high-end Arcfox electric vehicle marque. Its major shareholder BAIC Group and two of its units plan to buy 39 percent of new shares worth CNY2.137 billion the company will issue, the Beijing based electric vehicle maker said in a statement it sent to the Shanghai Stock Exchange yesterday. BAIC Bluepark [SHA:600733] closed up 3.01 percent at CNY7.19 (USD1.03) at lunch. Other investors in the private placement are as yet undetermined, it added. The firm will also apply the funds raised to develop its data system, improve its fifth-generation wireless internet connectivity and automatic driving technology, and develop a plug-in power cell system, as well as recharging working capital, it said. BAIC la...

Evergrande Health Industry Group, which has not sold a single car yet, has become the most valuable auto company listed in China due to a more than five-fold stock price increase over the past two months.  Evergrande Health's shares [HKG: 0708] closed at HKD34.80 (USD4.50) yesterday, giving the firm a HKD300.7 billion (USD38.8 billion) market cap. That exceeds established Chinese automakers BYD and SAIC Motor by more than USD6 billion. Today, Evergrande Health fell 2.6 percent to HKD33.90. The Guangzhou-based company, which intends to change its name to Evergrande New Energy Vehicle Group, reflecting its shift in focus to the auto sector, unveiled six Hengchi-branded car models on Aug. 3, including sport-utility vehicles and compact multi-purpose vehicles for mass production. Global investors have been keen to pour money into the electric car sector this year. Tesla's share price [NASDAQ: TSLA] has sailed past many historic highs to become the world's most valuable automake...

Xiaopeng Motors, one of China's leading electric vehicle startups, has raised USD300 million in its expanded C+ round of funding, led by Alibaba Group Holding and participated by sovereign wealth fund Qatar Investment Authority, according to an insider. "The [fundraising] process is basically finalized," tech news outlet 36Kr reported, citing an insider who wished to remain anonymous. The Hangzhou-based tech giant delivered most of the fresh funds, the person added. Alibaba has participated in the company's previous rounds of funding. The Guangzhou-based target firm has declined to comment on the development. Chinese tech companies have been keen to invest in new energy vehicle startups as Tencent Holdings is the second-largest shareholder of Nio, Meituan Dianping was the biggest shareholder of Li Auto before its recent initial public offering, and Baidu has a stake in WM Motor Technology. Founded in 2014, Xpeng Motors raised nearly USD500 million previously as part o...

A unit of Chinese real estate giant Evergrande Group unveiled an impressive six new energy vehicle prototypes under its Hengchi brand today at special events held in Shanghai and Guangzhou. Healthcare service firm Evergrande Health Industry Group, which is shifting its main line of business to the electric vehicle sector, revealed a range of high-end, ultra-luxurious, pure electric sedans, sports utility vehicles and multi-purpose vehicles numbered Hengchi 1 to Hengchi 6. The cars are designed by Denmark’s Anders Warming, the US’ Michael Robinson and Japan’s Maruyama Satomi, part of a global automotive design alliance formed last year by group Chairman Xu Jiayin. Mass production of the vehicles will begin next year, the Shenzhen-based firm said. Evergrande’s NEV production base plant in Guangzhou, southern Guangdong province, will go into operation in September or October, according to tech media 36Kr. The firm intends to build 10 vehicle manufacturing and core technology parts plants ...

Hyundai Motor Group will resume sales of imported vehicles in China after a three-year hiatus that was due to poor performance at its joint ventures in the country, Yicai Global learned from the South Korean auto giant. Hyundai will begin presales of the first model, the Palisade sport utility vehicle, at the Beijing International Automotive Exhibition next month, the Seoul-based company said on Aug. 1. Hyundai will also build its first sales network in China to replace dealers. The Palisade debuted in November 2018, and last year sold 100,000 units worldwide, mainly in South Korea and the US. The firm has not revealed the latest pricing of the vehicle in Chinese market. Hyundai entered China in 2002 by setting up two joint ventures, Beijing-Hyundai Auto and Dongfeng Yueda Kia. Sales at both fell last year, with Beijing-Hyundai Auto suffering a 9.4 percent drop to 716,000 units and Dongfeng Yueda Kia down 22 percent at 289,000, driven by an overall market slump. China’s imported car sa...