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Tesla surpasses 1 trillion US dollar valuation
After Tesla’s (NASDAQ: TSLA) stock price exceeded $1,000 per share, the company officially reached a market valuation of 1 trillion US dollars.
Following a massive deal with car rental company Hertz to purchase 100,000 Model 3s as rental cars for $4.3 billion, Tesla’s stock rose over 12% on Monday morning, reaching as high as $1,020. At market close yesterday, Tesla’s stock price had risen to $1,077.04.
Tesla may become the sixth company to surpass a valuation of 1 trillion US dollars, following Apple, Microsoft, Saudi Arabian Oil Company, Alphabet (Google’s parent company), and Amazon. Additionally, Tesla will become the first car company to surpass a valuation of 1 trillion US dollars.
Quick Comment:
Compared to traditional fossil fuel cars, the maintenance and upkeep costs of electric cars are relatively lower. This can potentially lead to significant profits for rental companies.
For Tesla, becoming the first car company to surpass a valuation of 1 trillion US dollars, while also being a new energy vehicle enterprise, demonstrates that new energy vehicle models may create a market breadth previously unattainable by traditional fossil fuel cars on a global scale.
XPeng, Ideal, and NIO October delivery volumes announced
The delivery volumes for XPeng in October are as follows:
- P7 delivery volume of 6,044 units
- G3i delivery volume of 3,657 units
- P5 delivery volume of 437 units
Overall, a total of 10,138 units were delivered, breaking 10,000 deliveries for two consecutive months.See what’s happening with the Ideal. On November 1st, the Ideal announced the delivery data for October 2021. A total of 7,649 Ideal ONE vehicles were delivered, an increase of 107.2% compared to the delivery data for October 2020, with a month-on-month increase of 7%. As of October 2021, the total delivery volume of Ideal cars reached 62,919.
NIO delivered 3,667 vehicles in October, a year-on-year decrease of 27.5%. The vehicle delivery volume of each model is as follows:
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218 ES8
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2,528 ES6
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921 EC6
Comment:
Xpeng’s current sales leader is still the P7, and its delivery volume has also surpassed the milestone of 6,000. The redesigned G3i has also broken through the sales situation that was previously fluctuating around 2,000 vehicles. In addition, with the newly launched P5, Xpeng’s overall sales trend is still optimistic.
Looking at the Ideal, compared with the sales data of the previous month, there was a small increase, but it still did not reach the sales data of nearly 10,000 in August.
Regarding the decline in NIO’s delivery volume in October, NIO officials stated that it was mainly due to the production line being shut down for renovation and preparation for the production of new cars from September 28th to October 15th.
The 100,000th Ideal ONE offline
On October 28, 2021, the 100,000th Ideal ONE officially rolled off the production line at the Ideal Changzhou Base. Following NIO and Xpeng, Ideal also ushered in its first 100,000 in the new energy vehicle market. It is also the first model produced in the new energy vehicle market with a single product over 100,000 in quantity.
Previously, Ideal had revealed its future product plans:
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In 2022, a full-size SUV based on the X platform will be launched, which is the new car with the code name X01 that was exposed some time ago, and the power system will still be an extended range structure.
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In 2023, two other extended range SUVs will be launched based on the X platform, and two high-voltage all-electric vehicle models based on the Whale and Shark platforms will also be launched. Ideal plans to launch at least two pure electric vehicles every year from 2023 onwards.
Comment:
Since the start of formal deliveries in December 2019, it took Ideal ONE 708 days to reach 100,000 in total. It can be seen that Ideal ONE’s positioning towards families is still able to gain recognition from Chinese consumers. After the Beijing factory is put into production in 2023, it is believed that the development speed of Ideal will be pushed forward again.### China Insurance Research Institute (中保研) releases latest crash test results, including Changan Ford Territory, Changan Mazda CX-30, SAIC Volkswagen ID.4 X, Changan UNI-K, and Guangzhou Honda Acura RDX
After updating to the 2020 edition of the collision regulations, the first batch of China Insurance Research Institute (中保研) test cars released their scores. The test models were:
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Changan Ford Territory
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Changan Mazda CX-30
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SAIC Volkswagen ID.4 X
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Changan UNI-K
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Guangzhou Honda Acura RDX
The test results are shown in the graph provided. In terms of non-repair parts, except for Acura RDX which received an A in the driving assistance safety category, the other 4 models received an overall G rating.
Quick comment:
SAIC Volkswagen ID.4 X performed well in this test, being the only model to receive 4 Gs, which is the highest possible rating. From the current results, it can be seen that the test vehicles have achieved a relatively satisfactory level of protection for both passengers and pedestrians. The main differences lie in driving assistance safety and repair economy.
Overall, in the low-speed collision test for repair economy conducted on the 5 cars, none of the airbags were triggered, a significant improvement compared to the repair economy results of previous models.
IM L7 performance results announced
On November 1, 2021, IM Automobile’s first mass-produced model, the IM L7, achieved strong performance results in the tests conducted by the National Motor Vehicle Quality Inspection and Testing Center (Shanghai), with an acceleration time of 0-100 km/h in 3.87 seconds, a brake distance of 32.69 meters from 100 km/h to stop, and a maximum lateral acceleration of 0.968G.
In addition, the IM L7’s original equipment custom Pirelli P ZERO performance tires were selected, in collaboration with the Williams Advanced Engineering team, with tire size and formula tailored to match the IM L7. This optimizes sports performance while also considering comfort and noise reduction, and is equipped with the PNCS (Pirelli Noise Cancelling System).
The excellent handling of IM L7 also provides convenience in daily use. Thanks to the suspension structure of rear-drive full-ball head five-link, IM L7 can achieve two-way steering of the rear wheels, with a turning diameter of 10.8 meters, surpassing cars of a size similar to C class and offering very rare configuration among cars of the same class.
Quick comment:The performance data and configuration of IM L7 in terms of driving dynamics are impressive. With the support of William’s calibration and four-wheel steering technology, combined with excellent power performance, the IM L7 demonstrates exceptional cornering ability. With these advantages, IM may be able to establish its brand image as a “luxury electric performance car.”
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.