ARROW’s News Digest on the Chinese Auto Industry

Today’s news focuses on the development of domestic manufacturers and suppliers. Great Wall Motors has acquired Mercedes-Benz’s Brazilian factory, CATL has settled in Shanghai, and Leapmotor has raised 4.5 billion yuan in financing. Meanwhile, XPeng Motors’ Phase II factory in Zhaoqing has begun construction.

Moving forward, the Supercharging Daily will join the “daily new car” section, focusing on the latest trends in popular new cars.

CATL Signs Strategic Cooperation Agreement with Shanghai Government

On August 18th, CATL signed a strategic cooperation framework agreement with the Shanghai municipal government.

According to the agreement, the two sides will promote CATL (Shanghai) Innovation Center, International Headquarters, High-end Manufacturing Base, and Future Energy Research Institute, etc. to land in Shanghai.

In terms of technical cooperation, the two sides will deepen their cooperation in fields such as cutting-edge new energy technology research and innovative application, urban traffic electrification transformation, and high-end new energy talent cultivation.

Editor’s comments: As a leading company in the new energy industry chain, CATL’s choice to collaborate deeply with Shanghai, the city with the highest sales of new energy vehicles in the country, is undoubtedly a win-win choice. With Tesla as a major customer, as CATL’s supply to Tesla continues to grow, we can continue to look forward to further price reductions.

XPeng Motors’ Zhaoqing Phase II Project Commences, with an Annual Output of 200,000 Vehicles

Recently, XPeng’s second-phase intelligent new energy vehicle project in Zhaoqing High-Tech Zone officially signed a contract and commenced construction. After reaching production capacity, XPeng’s vehicle manufacturing capacity in Zhaoqing will reach 200,000 units per year.

After the second phase of XPeng’s Zhaoqing factory is put into operation, the vehicle design annual production capacity will increase from 100,000 units to 200,000 units. The XPeng Intelligent Manufacturing Base in Zhaoqing is fully built in accordance with the Industry 4.0 standard, with Internet of Things technology and monitoring technology throughout the entire production process, creating a highly transparent and digitized intelligent factory.

Editor’s comments: XPeng’s July sales have already surpassed 8,000 units. With the G3i and P5 starting to be delivered, XPeng’s sales will further increase, and building more factories will help better address market demand.

Leapmotor Announces the Completion of 4.5 Billion Yuan Financing

Leapmotor announced that it has completed a new round of financing worth a total of 4.5 billion yuan. This round of financing was led by CICC Capital, with support from CITIC Securities, CITIC Dameng, and Hangzhou Municipal Government.

According to the plan, Leapmotor is expected to submit an IPO application in the second half of this year and is expected to be listed on the Sci-Tech Board at the end of 2021 or early 2022.

Leapmotor’s latest delivery data shows that there were 6,540 orders in July and a cumulative total of 28,055 orders in 2021. In July, 4,404 new cars were delivered, with a total of 26,148 deliveries. Among them, the Leapmotor T03 had 6,125 orders in July and delivered 4,283.

Recently, Leapmotor announced its 2.0 development strategy goals for the next five years: to achieve an annual sales volume of 800,000 vehicles by 2025.

In terms of products, Leapmotor will launch 8 models, covering the price range of less than 350,000 RMB, and will enter overseas markets in 2022.

Editor’s Comment: The 4.5 billion yuan financing undoubtedly brings ample “ammunition” for Leapmotor to achieve its subsequent strategic goals. However, compared with the top three new car-making forces such as NIO, the positioning of Leapmotor’s products is obviously more affordable. As for whether Leapmotor can achieve the goal of annual sales of 800,000 vehicles by 2025, let’s wait for time to give the answer.

After reading the domestic industry news, let’s turn our attention to the international news.

Great Wall Motors acquires Mercedes-Benz Brazil factory with annual capacity of 100,000 vehicles

On August 18th, Great Wall Motors Co., Ltd. and Daimler AG officially signed an agreement on the acquisition of the Brazil Iracemapolis factory. Great Wall Motors will acquire assets such as land, plant, and machinery and equipment of the Mercedes-Benz Brazil Iracemapolis factory, but there is no personnel transfer involved.

The official stated that after the acquisition of the Brazil Iracemapolis factory, Great Wall Motors will promote its products covering the domestic and other South American markets.

The delivery of the factory is expected to be completed before the end of 2021 after transformation. The annual capacity of the factory will reach 100,000 vehicles, creating nearly 2,000 jobs locally.

Editor’s Comment: Asking which domestic automaker is strong overseas? Great Wall Motors is undoubtedly an existence that cannot be ignored. Great Wall Motors has already built factories in Russia, acquired GM’s Thailand factory and India business, and this acquisition of the Brazilian factory will definitely add to its competition in the South American market.

Next is today’s “Daily New Car” section. Genesis, a high-end brand of Hyundai, has launched its first electric SUV, the GV60, and WM Motor has released the official picture of its new car “Champion”.

Official Image of the Genesis GV60 Released

Genesis has officially released the official image of its first all-electric SUV, the GV60.

The new car is based on the E-GMP architecture of Hyundai Motor Group. The currently released Hyundai IONIQ 5 and Kia EV6 are also products under this architecture.

In terms of power, there will be two versions: single motor and dual motor, with different battery capacities and 350 kW super fast charging. It is reported that the new car may be officially unveiled and launched overseas in 2022.

Regarding the configuration, the official has not released more information, but in terms of power parameters, you can refer to the sister models of GV60, IONIQ 5 and EV6. We expect that the Genesis GV60 will have two motor versions: single motor and dual motor.

For the single motor, rear-wheel drive model, the maximum power may have two options: 169 horsepower and 217 horsepower, while the maximum power of the dual motor, four-wheel drive model may reach 305 horsepower. In addition, the new car is expected to be equipped with battery packs of 58.0 kWh and 77.4 kWh. Under the WLTP condition, the estimated range is up to 483 kilometers.

Editor’s comment: As a high-end brand under Hyundai, Genesis just entered the Chinese market recently, and two models, G80 and GV80, have been released in China. After the brand-new design, Genesis has a family-style design both inside and outside. However, in this GV60, the family design seems less obvious. Whether this car will enter the Chinese market in the future still needs the official’s further announcement.

From 0 to 100 kilometers per hour in just 1.8 seconds: WM Motor Champion Official Image Released

On August 19th, we obtained the official image of WM Motor’s new car, WM Motor Champion from the official website. The new car will be officially unveiled at the 24th Chengdu Motor Show opening on August 29th. According to the official, the car can reach 0 to 100 kilometers per hour in just 1.8 seconds.

According to the official statement, this car is based on the fully “armed upgrade” of the WM W6, and its name “Champion” comes from the brand name of WM Weltmeister, which means World Champion in German. The new car adopts a large amount of aerodynamic design, with a closed front grille and an exaggerated three-stage air intake below, making the car look very dynamic.

In terms of power, the new car uses a 1400 kWh high-performance battery pack developed exclusively for the FIA, combined with carbon fiber composite structural components and a water cooling system, which not only significantly reduces weight but also ensures system safety. At the same time, it is equipped with a 400-volt high-voltage motor specially customized for the racetrack, using a dual-motor four-wheel drive system, with a maximum output power of 600 kW. In conjunction with the track-level hot-melt tire, it ensures strong grip and friction and guarantees smooth and quick launch.

Editor’s comment: Judging from the parameters, WM’s “Champion” is probably a performance modified version of a model designed to show off power, and is unlikely to be officially launched and sold.

Finally, let’s take a look at the latest news about China’s high-speed roads. I know that many friends envy Germany’s unlimited speed highways, but have never had the opportunity to experience it in person. Now, it’s here!

China’s First “Unlimited Speed Highway” is Expected to Open in 2022

According to media reports, China’s first “Unlimited Speed Highway” will be opened next year, connecting Hangzhou and Ningbo, and will be named Hangshao Ning expressway. The highway will be 161 kilometers long, with no toll stations and will use a self-flow charging method.

However, unlimited speed does not mean driving as fast as you want.

It is reported that this highway adopts the construction standards of Germany, where there is no speed limit, and Italy, where the speed limit is 150 kilometers per hour. The fastest speed that vehicles can reach is 140-150 km/h.

At present, the highway is in the middle of construction and is expected to be opened to traffic in 2022. After completion, it will alleviate the traffic pressure on the current Hangzhou–Ningbo expressway and greatly increase efficiency.

Editor’s comment: When I read this news, I was really moved- finally, we can experience faster speeds on the highway! But I would like to remind everyone that safety is always the top priority. Safe driving is the best way to protect our families.

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.