Financial

Xiaomi EV is revving up production by increasing supply chain orders by 80%. The electric vehicle unit aims to meet the target of delivering 100,000 units annually. Customers face a 30-37 week wait for deliveries of the SU7 model due to high demand. Xiaomi's Founder advises considering alternatives like Luxeed S7, Nio ET5, and Xpeng P7. The company's Porsche-like design and affordable prices have garnered significant acceptance in the market. Source

Leapmotor International, a joint venture between Leapmotor and Stellantis, is set to start selling electric vehicles in Europe this September. The partnership aims to expand to 200 sales locations by year-end and venture into global markets by the fourth quarter. Stellantis' investment in Leapmotor strengthens their business model, with plans for new product launches in China and global sales leveraging Stellantis' extensive dealer network. For more details, check out the full article! Source

Xpeng's Mona sub-brand to use BYD batteries, with a range of 500+ km. Following Nio's Onvo sub-brand, Xpeng plans to unveil the first Mona model in June 2024. Mona, priced between RMB 100,000 and RMB 150,000, features Xpeng's ADAS and is expected to hit the market in the third quarter. Annual sales target set at 100,000 units, with a production line upgrade in place. Exciting times ahead for Xpeng's latest venture! Source

Origin Energy's EV Power Up program offers to fully charge electric cars at home for just $5. The service uses cheap, renewable energy during off-peak times, potentially saving over $450 annually compared to standard tariffs. Initially available for Tesla drivers, the program plans to expand to other EV brands like BYD, MG, and Volvo. Other energy retailers like AGL and Ovo Energy also offer discounted rates for electric vehicle charging during off-peak times. The move comes amidst challenges in the public car charging sector in Australia. Source

The 19th week in China's EV market saw BYD topping the charts with 68,500 registrations, followed by Tesla (9,800) and Nio (4,400). While BYD and Nio saw increases, Tesla and Xiaomi experienced dips in registrations. Li Auto resumed publishing data, with GAC Aion and Li Auto showing impressive growth. Xiaomi's struggles continued, despite high locked-in orders for the Xiaomi SU7 sedan. Production challenges at their new Beijing factory may explain the lower registration numbers. Source

Stellantis to introduce affordable Chinese electric cars in Europe in September via its partnership with Leapmotor. The joint venture, Leapmotor International, will offer the T03 city car and C10 mid-size SUV initially. Priced under 20,000 euros, the T03 will be available in nine European countries. Stellantis aims to expand to 200 dealerships by year-end and unveil a new Leapmotor model annually. India, Asia Pacific, Middle East, Africa, and South America will follow suit in late 2024. Source

Stellantis and Leapmotor have kicked off their new joint venture, "Leapmotor International," to introduce Chinese EVs in Europe this fall, expanding further into additional markets later. Stellantis made a substantial investment in Leapmotor last fall, securing a 20% stake and establishing the joint venture to sell Leapmotor's EVs internationally. The joint venture, led by former Stellantis China executive Tianshu Xin, plans to launch family-friendly and urban commuter models first in nine European countries by September 2024, with more global expansion on the horizon. Source

Juiced Bikes surprises with a flash sale offering $599 off the RipCurrent S e-bike, dropping the price to $1,800 for the first 50 models sold. The sale includes Traeger Pro 34 Wood Pellet Grill at a new $500 low and Leviton Level 2 Smart EV Charger for $621. With up to 28 MPH speed and 1,000W rear-gear hub motor, the RipCurrent S boasts power and torque, making it a top-notch e-bike deal not to be missed. Time to grab these green deals before they're gone! Source

Biden quadruples tariffs on Chinese EVs to a whopping 100%, as part of wider tariffs on various Chinese goods. The move aims to protect US industries but may lead to higher prices for American consumers, particularly impacting popular affordable Chinese EVs. Increased tariffs also target batteries, solar panels, and computer chips. This decision has sparked mixed reactions domestically and globally, with concerns about its impact on the EV market and US-China trade relations. Source

Genesis is shaking up the luxury EV market in the US by outpacing rivals like Porsche and Land Rover. With a focus on electric vehicles, Genesis is rapidly expanding its presence in new states and setting its sights on double-digit sales growth. The brand's sleek designs and high-quality electric models, like the GV60 and Electrified GV70, are driving its success. Genesis recently unveiled the Neolun concept for a luxury electric SUV and introduced the high-performance Magma brand. Source