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Weekly News
Tesla Acquires Battery Manufacturer Maxwell
On Feb 4th, American battery technology company Maxwell Technologies announced that its board of directors had agreed to Tesla’s acquisition offer. According to the terms of the deal, each share of Maxwell will be exchanged for a small portion of Tesla stock, valued at $4.75 per share, which is a 55% premium over last week’s closing price of $3.07 per share. The market value of Maxwell will reach $217.9 million.
Quick Review: Maxwell mainly produces and sells supercapacitors and high-voltage capacitors, which can provide excellent energy storage and power transmission solutions for various industries. It seems that Tesla’s intentions are very clear.
Evergrande’s Subsidiary NEVS Forms Joint Venture with Koenigsegg
On Jan 29th, Evergrande Health announced that its subsidiary, NEVS, acquired a 20% stake in Koenigsegg’s parent company for 150 million euros. NEVS and Koenigsegg signed an agreement to establish a joint venture project company dedicated to researching, developing, and manufacturing the world’s top new energy vehicles. NEVS holds 65% of the project company’s shares, while Koenigsegg holds 35%.
Quick Review: Evergrande has invested 30 billion yuan in the automotive field. Hope Evergrande’s funding and Koenigsegg’s technology can combine to create excellent products and a superior brand.
Tesla Adjusts Model S/X Options on U.S. Website
On Jan 10th, Elon tweeted that Tesla would cease production of the 75 kWh battery versions of Model S/X, leaving a large gap in price between the top-of-the-line Model 3 and the base Model S/X. On Jan 30th, Tesla’s U.S. website updated the selection options for Model S/X.Elon used the old trick to lock part of the battery power through software and launched the Model S/X with EPA ranges of 310 miles and 270 miles respectively, with prices reduced to $85,000 and $88,000. Customers can choose to add Extended Range for an additional $8,000, which can increase the range by 8%. At the same time, the acceleration from 0 to 60 mph for the Performance version decreased to 3.0 seconds and 3.5 seconds respectively. To achieve acceleration results of 2.4 and 2.8 seconds respectively, customers need to pay an additional $20,000 to choose the Ludicrous Mode.
Quick Comment: The earliest 60 kWh version of Model S also used a 75 kWh battery. Tesla limited the available power to 60 kWh through software. This time, they used a similar approach. One pack, two powertrains, and four car models. Elon Musk is really good at playing tricks, but this also shows that software will become increasingly important in future car models.
Adjustments of subsidies by multiple factories affecting price or subsidy strategy
On February 1st, NIO announced the subsidy plan for customers who ordered cars in February. Details are as follows:
Also on February 1st, XPeng Motors adjusted the unified national price after comprehensive subsidies. The details of the changes are as follows:
Quick Comment: After the price adjustment, the selling prices of products from various new automakers have risen. The price of XPeng G3 is significantly higher. With a range of less than 400 km in 2019, it is somewhat embarrassing to sell at such a price. Fortunately, XPeng has some highlights in intelligentization. As for other models, such as the WM EX5, if the subsidy is reduced by more than 10,000 yuan, customers who purchase a car through the end of March only need to pay an additional 10,000 yuan, and the rest will be covered by WM, which means that the car price has increased by 10,000 yuan compared to 2018.### NIO launches external charging service for electric cars
On January 31, NIO announced that its charging cars can provide charging services for other brands of electric vehicles while meeting the charging needs of ES8 owners, providing an additional charging option for other pure electric vehicle owners. The cost starts at CNY 380/time during the trial operation period, and the cities opened are: Beijing, Shanghai, Guangzhou, Shenzhen, Suzhou, Hangzhou, Nanjing, Wuhan, Hefei, Zhengzhou, Xi’an, Ningbo, Shijiazhuang, Jinhua, Tianjin, Changsha, Xiamen, Qingdao, Chongqing, and Wenzhou, totaling 12 cities.
Quick comment: The price of CNY 380 per use is not cheap, but it provides a Plan B for the majority of pure electric vehicle owners. Compared with getting stranded, I believe that CNY 380 is worth it.
Porsche Taycan owners can charge for free for three years at Electrify America charging stations
On January 29, Porsche Cars North America announced an agreement with Electrify America, where Porsche Taycan owners can charge for free for three years at Electrify America charging stations.
Quick comment: It is not enough to just produce an excellent electric vehicle. The related supporting facilities are also crucial. Electrify America is Volkswagen’s remedy for its behavior after the diesel emissions scandal. It is expected that the number of fast charging stations will reach 484, and the number of fast charging piles will reach 2,000 by July 2019. For reference, Tesla has 1,422 Supercharger stations and 12,011 Superchargers in North America.
Personnel changes in Byton’s management, president position eliminated
Dr. Carsten Breitfeld, Co-Founder and CEO of Byton, will no longer serve as CEO, but will remain Chairman of the Board. Dr. Daniel Kirchert, co-founder and former president of Byton, will serve as the new CEO, and Byton will no longer have a president’s position.# Bi Fukang will be responsible for shareholder relations coordination, mid-term strategic planning customization, presiding over board meetings and shareholder meetings, supporting product strategy customization, and representing Byton in public events to enhance its reputation and popularity. Dai Lei will be responsible for supporting the daily operation of the company’s business, including all departments and implementing major decisions of the board of directors. He will also be responsible for regularly reporting the company’s business situation to the Byton Board of Directors on behalf of the management.
Quick Comment: Byton has been in our sight for a long time. The 48-inch large screen left a deep impression on me. As time goes on, Byton’s first experience center has already opened in Shanghai. Mass production of cars will officially begin in Q4 of this year. Looking forward to it.
New Cars of the Week
Tesla Model 3 RWD
On February 1st, Tesla quietly launched the RWD version of Model 3 on its official website. The previous front and rear dual motors have become a rear single motor with a 0-100km/h acceleration of 5.4 seconds and a comprehensive range of more than 600km. The price is CNY 433,000.
Quick Comment: After seeing this price and range, I am really worried about the NIO ES6 which is also in this price range. Which one will you choose?
- Evergrande acquires NEVS; Tesla releases plan to reduce costs|E Weekly News* NIO’s annual deliveries exceeded 10,000; Model S/X 75D discontinued | E Weekly News
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.