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NIO produces its 50,000th mass-produced vehicle
On July 18th, NIO’s 50,000th mass-produced vehicle rolled off the assembly line at its factory in Hefei. To date, NIO has produced the most vehicles among China’s new energy vehicle startups.
It took NIO 783 days from the debut of its first mass-produced vehicle on May 27, 2018, to the production of its 50000th vehicle on July 18, 2020. Based on 365 days per year, it took the company around two years and two months to achieve this milestone.
Quick Comment:
NIO achieved mass production of 50,000 vehicles in 783 days. Looking at the second quarter of this year alone, the company sold more than 10,000 electric vehicles, increasing 168% from the previous quarter. Among them, the mainstay NIO ES6 sold 2,464 units in June, winning the top spot in China’s pure electric SUV market for ten consecutive months.
Next, NIO’s third mass-produced model, a midsize all-electric SUV, the EC6, is expected to release its configuration and pricing information during the Chengdu Auto Show on July 24th and the company will start deliveries in September. So, you can guess the price, and we will bring you first-hand information from the show.
Polestar 2 becomes the fastest electric car in Zhejiang Speed TestOn July 18th, Polestar announced that the Polestar 2 became the fastest electric car at Zhejiang International Circuit. The tested model was the top-of-the-line model of the Polestar 2, equipped with a high-performance package which costs an additional 42,000 yuan and includes Brembo front brakes, Ohlins DFV suspension, 20-inch forged wheels, and orange seat belts.
The Zhejiang International Circuit is 3.2 km in length, with a temperature of 30℃ on the day of the test and a dry environment. Eventually, the Polestar 2 completed the test with an effective time of 1 minute 47 seconds and 8 tenths, ranking 37th on the Zhejiang International Circuit list, and currently the fastest electric car in Zhejiang.
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During the media test drive event, the Ohlins DFV suspension in the high-performance package of the Polestar 2 left a deep impression on me: 22 sections can be adjusted front and rear, with Polestar’s engineers recommending a setting of 5 in the front and 5 in the rear at Zhejiang Circuit, which provides better support and road feel on the track. For everyday use, the recommended setting is 10 in the front and 10 in the rear, but users can also adjust it manually according to different road conditions.
It is worth mentioning that this suspension, although manually adjustable, does not require a lifting machine and can be adjusted by hand, giving users a fun hands-on experience. The lap time of the Polestar 2 is impressive, but I am still looking forward to seeing the Model 3 Performance at Zhejiang Circuit to see if it can break this record.
BMW iX3 officially released
On July 14th, BMW officially released its second all-electric car iX3. The iX3 is equipped with the fifth-generation BMW eDrive electric drive technology, with a maximum output power of 210 kW, a maximum torque of 400 N·m, and an acceleration of 6.8 seconds per hundred kilometers.
For the first time ever, BMW integrated the electric motor, electric control, gearbox, and inverter as a single unit in the iX3, increasing power density by up to 30% compared to existing BMW electric models. The drive unit adopts an excited synchronous motor and does not use rare earth elements.Battery-wise, the iX3 adopts 811 nickel-cobalt-manganese ternary lithium battery with a capacity of 80 kWh and actual usable capacity of 74 kWh. The energy density of the battery pack system is 154 Wh/kg and it can run up to 500 kilometers under working conditions. The maximum charging power of the battery is 100 kW and it takes only 45 minutes for 0-80% charging.
Quick Comment:
With the official release of the BMW iX3, the first pure electric SUV from BBA has been unveiled. The Audi e-tron and Mercedes-Benz EQC, which were unveiled as early as 2019, have already begun official deliveries. As a latecomer, the pricing strategy of the BMW iX3 is crucial.
Currently, the gasoline version of the BMW X3 is priced between 3.898-4.798 million yuan. What do you think the price of the BMW iX3 will be?
Xpeng Completes Nearly $500 Million in Series C+ Financing
On July 20th, Xpeng Motors announced the completion of nearly $500 million in series C+ financing, with participation from well-known investment institutions such as Aspex, Coatue, Hillhouse Capital, and Sequoia China.
The previous round of financing for Xpeng was a series C investment from Xiaomi Group, with a $400 million investment in December 2019. According to Qichacha, Xpeng Motors has raised a total of approximately RMB 15.4 billion in financing so far.
Quick Comment:
On December 16, 2019, He XPeng revealed at the 10th Global New Energy Vehicle Conference that Xpeng Motors was undergoing a series C+ financing. Since then, Xpeng Motors has launched its second model – the P7, an intelligently positioned sedan, in April this year. In May, Xpeng Motors obtained production qualification at its factory in Zhaoqing. After experiencing the epidemic in the first half of the year, Xpeng Motors has secured series C+ financing.
Now, the Xpeng P7 has been delivered in various places. With production capacity ramping up, the monthly sales of Xpeng P7 will be the next focus.
Dongfeng Motor releases its brand new electric brandOn July 17th, Dongfeng Motor launched its new high-end electric brand, “Voyah,” at the Big House Contemporary Art Center in Wuhan. With similar pronunciation to “Blue Map,” Voyah is positioned by the company as a “truly zero-worry high-end intelligent electric brand.”
In fact, the Voyah brand has been planned by Dongfeng for some time as it was formerly the “h” business unit established by Dongfeng in 2018. The brand first came into public view in May of this year, and two months later, it was officially launched as Voyah.
Interestingly, Voyah’s internal organization adopts the OKR goal management method widely used in technology companies to establish a more efficient, innovative, pragmatic, and flat management operating mode.
Commentary:
During the half-hour launch event, Dongfeng Motor, in addition to announcing the name and logo of the new electric brand “Voyah,” stated its different approach from new players in the carmaking field. With more than 50 years of experience in car manufacturing, Dongfeng Motor presented Voyah automobiles as a new force in the electric vehicle market in China.
Finally, to avoid having the public’s stereotypical impression of Dongfeng Motor, the organization elected to use OKR management in its internal organization, and during the introduction of Voyah’s core management team, Mr. You Zheng, Deputy General Manager of the Dongfeng Motor Group and member of the Party Leadership Group, mentioned that: “This is a strategic choice that we are making with new organization, new mechanisms, and new models to promote the Dongfeng company’s brand.”
Traditional automakers may be a bit late to enter the electric vehicle market. The first step in achieving its own “Voyah” relying on its existing resources will be critical, and the public is eagerly anticipating the launch of Voyah’s first car.
Article by Lewis Changhao, Edited by Lewis Changhao
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.