In April, Nio provided an average of 65,779 battery swap services per day, with each user swapping batteries four times monthly, lasting three minutes each time. They added 14 new swap stations, totaling 2,411 by month-end, ensuring 80.15% of owners find a station within 3km. Nio also boasts 2,210 supercharging and 1,580 destination charging stations in China, delivering 15,620 vehicles in April. 55.33% of energy added by customers came from swaps, solidifying Nio's position as an EV charging leader. Source

Nio's sub-brand, Onvo, is set to use batteries from BYD instead of its current supplier, CATL. The switch aims to lower costs for Onvo's new electric vehicles, targeting a more affordable price range in the market. Nio's strategic move aligns with plans to compete with Tesla's Model Y while maintaining competitive pricing. This decision comes after Nio's previous efforts to develop batteries in-house were deemed less efficient. BYD's involvement in supplying batteries underscores Nio's shift towards cost-effective battery solutions. Source

The Onvo L60, Nio’s sub-brand model, was spotted without camouflage next to a Nio battery swap station, resembling Nio's EC6. The Onvo L60 supports battery swap technology like Nio's models, offering a BaaS model for a lower starting price. This glimpse hints at Onvo targeting the RMB 200,000 to RMB 300,000 market range. Nio and BYD have struck a battery sourcing deal for Onvo. Exciting developments as Onvo gets closer to its official debut! Source

CATL retains top spot in the Global EV battery market with 37.9% share, slightly down from previous months. BYD climbs back to second place, surpassing LG Energy Solution. Global EV battery consumption increases by 22.0% to 158.8 GWh in Jan-Mar 2024 compared to last year. CATL's installed battery volume grows to 60.1 GWh, while BYD reaches 22.7 GWh. LG Energy Solution follows in third place. Other key players include Panasonic, Samsung SDI, and SK On. Interesting details about CATL's market share trends and tech licensing discussions revealed. Source

Tesla China reports a sales drop in April, selling 62,167 vehicles, down 30% from March. Yearly sales show a 7.25% decrease. With fierce competition, Tesla raised prices for Model Y before slashing all prices across its lineup in China. Customers can now enjoy a 0 down payment plan for Model 3 and Model Y. Despite challenges, Tesla's Shanghai factory, with an annual capacity of 950,000 vehicles, remains a key player in the EV market. Source

China's passenger new energy vehicle (NEV) sales dropped in April, down 2% from March despite a 33% year-on-year increase. The China Passenger Car Association (CPCA) estimated wholesale sales at 800,000 units. Major automakers like BYD, TeslaChina, and Changan led the pack. The sluggish market may see a revival with the recent opening of the Beijing Auto Show and the national trade-in policy coming into effect. Stay tuned for more updates on NEV sales trends in China. Source

Li Auto surprised with 80,400 vehicle deliveries in Q1 2024, surpassing lowered guidance expectations. The company's unaudited financial results for Q1 will be revealed on May 20. Despite a slow season for vehicle deliveries due to the Chinese New Year holiday, Li Auto exceeded its own lowered guidance range, post-launch of new BEV and EREV models. The Li Mega faced criticism post-launch, prompting the company to focus on enhancing user value for sustainable growth. Li Auto's earnings call is scheduled for May 20 at 8 pm Beijing Time. Source

Xpeng will unveil its Q1 2024 financial results on May 21, with a delivery of 21,821 vehicles, slightly surpassing guidance. While reporting a decrease from the previous quarter, the company anticipates revenue growth of up to 53.7% year-on-year. Despite a net loss in Q4 2023, Xpeng's gross margin improved. The upcoming earnings call on May 21 will shed more light on their performance. Stay tuned for updates on Xpeng's newest developments. Source

Nio's April new orders jumped 19% sequentially, driven by lower prices for its battery rental service. Deutsche Bank attributes the surge to a reduction in the BaaS price to RMB 728 per month. In contrast, Li Auto's orders declined 8% sequentially, while Xpeng's increased by 4%. BYD's orders soared 9% sequentially, and Tesla's orders in China rose 12%. The Chinese NEV industry saw a 7% increase in new orders in April due to widespread retail price cuts. Source

In 2023, 25% of German car exports were electric, generating $62 billion. Germany exported 786,000 fully electric cars, up 58% from 2022. Main export destinations were the Netherlands, UK, and Belgium. Conventional car exports also increased, with the US, UK, and China being top destinations. The automotive industry in Germany saw a record revenue of €430 billion in 2023. Electric car sales initially dropped due to a subsidy cut. Source