Weekly Index Ranking
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Weekly News
Guoneng Automobile Obtains Production License from MIIT
On November 5th, the Ministry of Industry and Information Technology (MIIT) announced the 313th batch of licensed automobile, motorcycle, and three-wheeled vehicle manufacturers and products. Guoneng New Energy Automobile Co., Ltd. was included, making it a company with dual qualifications issued by the National Development and Reform Commission and MIIT.
Established in 2015, Guoneng Automobile broke ground in June of the same year in the Binhai New Area of Tianjin, aiming to develop and produce pure electric vehicles and extended-range electric vehicles. They introduced Saab to produce new energy vehicles. In June 2017, Guoneng Automobile launched the NEVS brand. In June 2018, the company invested 20 billion yuan in Shanghai to build a new energy industry chain integrating research and development, production, testing, final assembly, and sales.
Earlier this month, Guoneng Automobile officially started pre-sales of its first vehicle, the Guoneng 93, at a subsidized price of 169,800 yuan. The Guoneng 93 is based on the Saab 9-3 and remains almost unchanged in terms of design and platform. It is equipped with a 45 kWh ternary lithium-ion battery with a range of 355 km and supplied by CATL. In terms of power, the Guoneng 93 is powered by a permanent magnet synchronous motor with a maximum power of 130 kW and a maximum torque of 280 N·m. The maximum speed is 140 km/h.
## Gotion is one of the few dual-licensed new energy vehicle companies in China. However, building its own factory may face more challenges compared to the “subcontracting” production method. The Saab, which used to “fly low”, has now become an electric car with a maximum speed of only 140 km/h. Without speed and noise, it is estimated that few Saab fans will buy it with only the face of a 9-3. But with a price of less than 170,000 yuan after subsidies, Gotion obviously wants to make this slightly emotional new energy vehicle more accessible to the general public.
Taiwan-based technology company Thunder Power, dedicated to developing top-notch electric cars, is proud of its exclusive BMS (Battery Management System) and TMS (Thermal Management System). This relatively unknown company has already obtained more than 200 patents and is a technology enthusiast. Recently, Thunder Power Automotive and the SOGEPA Fund in Belgium reached an important consensus after months of negotiations. SOGEPA’s total investment in the first phase is 175 million euros, which is used to develop and manufacture a pure electric car designed specifically for the European market. In addition, Thunder Power’s car factory in Jiangxi Province is also under construction and will achieve mass production of its first model next year. Its first car model is positioned as a three-box sports coupe, which in addition to its self-developed BMS and TMS, will also use its modular chassis, four-wheel drive, mount a 110 kWh battery pack, have a maximum range of 650 km, and a maximum power of 465 kW.
On November 8th, the official website of Ministry of Industry and Information Technology released the “Notice of Six Ministries on Strengthening the Management of Low-Speed Electric Vehicles”. This Notice approved by the State Council is jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Public Security, the Ministry of Transport, and the General Administration of Market Supervision. The Notice requires that the governments of provinces, autonomous regions, and municipalities directly under the Central Government conduct clean-up and rectification of low-speed electric vehicle production and sales enterprises in three stages.# The Three Stages of Rectification for Low-Speed Electric Vehicles
The first stage is the investigation stage; the second stage is the rectification stage; the third stage is the cleanup and reorganization stage. The “Notice” also points out that all levels of government should stop formulating and issuing policies that encourage the development of low-speed electric vehicles, stop formulating and issuing low-speed electric vehicle access conditions, stop approving or filing low-speed electric vehicle investment projects, stop building new low-speed electric vehicle enterprises, expanding production plants, and other infrastructure projects, and stop adding new low-speed electric vehicle models.
In addition, according to the specific situation in the local area, low-speed electric vehicle disposal methods should be formulated, and a certain transition period should be set up. Accelerating the elimination of illegal and substandard low-speed electric vehicles in use through replacement, repurchase, and other methods.
Low-speed electric vehicles have developed rapidly in recent years, especially in third-tier and below cities and rural areas, where they are simple in structure and backward in technology. Most of them are made in small workshops, and there are great hidden safety hazards.
In addition, low-speed electric vehicles have always been in a regulatory gray area. They can be driven on the road without license plates and licenses, and can violate traffic rules at will, which affects the personal and property safety of urban traffic and other traffic participants. According to traffic control departments, in the past five years, there have been 830,000 low-speed electric vehicle traffic accidents nationwide, with more than 200,000 injuries and deaths. In response to the widespread call for action, six ministries jointly issued the “Notice,” bringing us hope for rectifying low-speed electric vehicles and providing a safer traffic environment for the public.
Tesla Chairman Appointed, First Female Chairman Takes Office
On November 8th, Tesla’s board of directors nominated independent director Robyn Denholm as chairman, and the appointment took effect immediately, while Elon Musk continued to serve as Tesla CEO.
In August of this year, the lively Musk tweeted about privatizing Tesla, and the subsequent events are well known. Later, Musk settled with the SEC, but as a condition, the chairman’s position was to change hands.
Robyn Denholm became an independent director of Tesla in 2014 and has also served as Toyota’s finance chief. She is the only executive among the members of the Tesla board of directors who has worked for other large automotive groups. She is currently also the chief financial officer of Telstra, Australia’s largest telecommunications company, but plans to resign from her position at Telstra after becoming Tesla’s chairman. Robyn Denholm expressed great confidence in helping Musk and the Tesla team achieve sustained profitability.
Although Musk lost the chairmanship, he is still the one who will lead Tesla forward, and Robyn Denholm belongs to Musk’s core team, so she will not interfere with Musk’s decisions.
In addition, Musk stated in a statement: Robyn Denholm has extensive experience in the technology and automotive industries. She has served as a Tesla director for the past four years and has made significant contributions to our transformation into a profitable company. As we continue to accelerate the development of sustainable energy, I look forward to closer collaboration with Denholm. The atmosphere is harmonious and Tesla is still Musk’s Tesla.
Tesla introduces “Track” mode, turning Model 3 into a drifting machine
Recently, Tesla hopes to fully utilize the instant torque of the electric motor on the track by introducing the new driving mode “Track Mode”, making the Model 3 into a drift machine.
Compared to internal combustion engines, the biggest advantage of electric power systems is that they can quickly obtain torque. Tesla hopes to use this advantage to allow vehicles to naturally turn through corners at high speeds, similar to accelerating forward.
This function will first be used on the Model 3 with dual motors. Its main function is to control torque transmission. With the cooperation of Tesla’s new vehicle power controller, when entering “Track” mode, the controller will continuously monitor the vehicle and predict the driver’s intentions and the vehicle’s rotation.
When the turning angle is not sufficient, the system will automatically transmit more torque to the rear wheel. When the turning angle is excessive, the torque will be transferred to the front wheel. In this mode, the energy recovery strength of the vehicle’s braking will be enhanced. Tesla said that this can allow drivers to better control the vehicle with a single pedal, while improving the durability of the braking system and saving electricity.
In addition, cooling parameters will change in this mode. Because high output power will generate more heat, the system will lower the battery temperature and lower the motor temperature than usual.
Losing the roar of the engine and the sound of the exhaust, many people think that electric cars have lost the joy of driving. But don’t jump to conclusions just yet. Tesla’s new mode makes drifting easier, and perhaps you can easily drift past Takumi Fujiwara with it. Technological progress will not be at the expense of losing the fun, and electric cars will surely become more and more fun.
FUKANG MAKES A COMEBACK WITH AN EMOTIONAL THEME
As one of the “old three” brands, Fukang always has something to talk about. Both the older generation and we young people have a deep impression of Fukang. And now, Fukang is back, but it’s no longer the familiar appearance.
On November 9th, Dongfeng Fukang’s first pure electric vehicle, Dongfeng Fukang ES500, was officially launched in Wuhan. After subsidies, the price ranges from CNY 138,600 to CNY 148,600, and it will be sold through Dongfeng Citroen’s sales channels.
The design of the whole vehicle is the same as that of Dongfeng Fengshen E70, with only a few details changed and a new blue badge from Dongfeng added. It is equipped with a three-element lithium-ion battery provided by CATL, with a capacity of 49 kWh and a comprehensive cruising range of 351 km. In terms of power, it is equipped with a maximum power of 90 kW electric motor, with a top speed of 145 km/h. In addition, the vehicle also supports OTA upgrades.
The name “Fukang” is a memory of two generations. It is down-to-earth and has a beautiful meaning. It, like Guoneng 93 mentioned earlier, takes emotional themes. Without the square shape and the double-letter logo, this Fukang is not the same as what it used to be. But with its pure electric power and spacious space together with the price range of CNY 145,000, it is still a car that ordinary people can afford. In this aspect, Fukang has not changed.
NIO RELEASES Q3 FINANCIAL REPORT
On November 7th, NIO released its financial report for the third quarter. This is also the first financial report since NIO’s listing. The report shows that NIO achieved revenue of CNY 1.4696 billion in Q3, with revenue from car sales at CNY 1.4269 billion and revenue from other sales at CNY 42.7 million.
Although NIO has achieved over CNY 1.4 billion in revenue, it still has a deficit. The operating loss in Q3 was CNY 2.8099 billion, an increase of 118.2% year-on-year. One of the reasons for the substantial increase in operating, sales and management costs was the increase in the number of employees in product, software development, user development, and service teams. In addition, NIO delivered 3,268 ES8 cars in Q3, which was higher than expected. In Q4, it is expected to deliver 6,700 to 7,000 ES8 cars.
NIO is at the forefront of the new car-making forces, whether it is brand building or mass delivery, as can be seen from their financial reports. However, with the increase in revenue comes a corresponding rise in expenses. NIO’s various considerate services require a lot of manpower and financial support. After establishing a good brand image, how these services can enter a virtuous cycle, how to cope with delivery pressure and improve software development and mass production, all present greater challenges to NIO.
Without the roar of the engine and the sound of the exhaust, many people think that electric cars lose the joy of driving. However, before making a conclusion, Tesla’s new model makes drifting easier. Perhaps you can easily drift over Takumi Fujiwara with it. Technological progress will not come at the cost of losing joy. Electric cars will definitely become more fun.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.