China Automobile Industry, Technology (NEV, Driverless, etc): News & Images

[TaiShang]

Chinese automakers seek growth in Russian market

China Plus Published: 2018-09-10


Recent stats show that sales of Chinese cars are picking up steam in Russia after years of sluggish growth.

Many are trying to expand their businesses in the Russian market as they believe economic recovery will generate more growth opportunities.

A recent market report shows that Chinese car makers sold 19,000 vechiles in Russia from January to July this year, up 17 percent year on year.

The report from Russia's "Automobile statistics" agency suggests Lifan Motors is among the best players, selling half of vehicles made by Chinese brands.

Deputy manager of Lifan's Russian branch Wang Xiaolong said the brand's accumlative sales in Russia has exceeded 150,000.

As part of its effort to localize production, Lifan established a wholly owned factory in Lipetsk in 2015, designed to produce 60,000 finished cars a year.

Manager Wang added the company is trying to tap into the local car-sharing market.

"We jointly launched cars with our Russian partners. We are the first Chinese car company to enter the car sharing sector here and this is really helpful to raise the brand awareness in the market. Up till now, we have launched 600 cars in Moscow and each car is estimated to be used 5 to 6 hours per day. "

The electronics is being checked in the car shop of the holding company that sells Chinese cars and provides after sales service in Novosibirsk, Russia. [Photo: VCG]

Apart from car-sharing, Lifan has also established cooperation with taxi operators in Moscow and offered 2000 cars to the sector.

Haval, a brand owned by Chinese car maker Great Wall, entered Russia in 2014 while the country's economic recession drove global automakers to quit.

Cheng Xiaoguang, manager of the Russian branch of Haval, said the company is upbeat about the prospect in the Russian market.

"At that time, some global brands like General Motors and Chevrolet withdrew from Russian market. On the contrary we entered into Russia. We believed there's a huge potential in Russian market and the crisis was temporary."

The manufacturer has invested 500 million US dollars in Tula to establish a finished car plant that is expected to start operation next year.

Another Chinese carmaker Geely also sees the Russian market as an integral part in its global strategy.

Zhan Shouhe, deputy manager of the Russian branch of Geely, says they aim to achieve success based on the quality of products and services.

"We don't sell products with low costs which caused by low quality. Instead, we sell goods with premium quality with reasonable price. Our products sold in Russian are priced from 850 thousand Rubles to around 2 million rubles. We offered a variety of choices for consumers. We want to establish good reputation of our brands."

Geely's 300-million-dollar plant in Belarus was opened last year and could produce 60,000 cars a year. Part of its products will be sold in Russia.

In a brand-building move, Geely also unveiled a new SUV model in Moscow this February and vow to launch more brand new models in the future there with more comprehensive aftersale services.

Market analysis suggests Chinese brands are holding less than 2 percent of market shares in Russia, but have huge potential for growth.

http://chinaplus.cri.cn/news/business/12/20180910/181765.html

 

[TaiShang]

BAIC BJEV re-takes BEV championship in China with Jan-Aug sales surging 67% YoY

Monika From Gasgoo| September 25 , 2018

Shanghai (Gasgoo)- BAIC BJEV, the NEV subsidiary of BAIC Group, delivered a total of 70,188 vehicles from January to August with a year-on-year (YoY) surge of 67%, maintaining the championship by the Jan-Aug sales from the previous year, according to a report from the company.

The BAIC EC series was still the best-selling model in the segment where it belongs to with its sales totaling 43,434 units during the first eight months. Last month, the sales of the EC series reached 3,028 units after the upgraded model came into the market.

Last month, the BAIC EC3 hit the market at the Chengdu Motor Show 2018. Based on the existing models of the EC series, the EC3 has been comprehensively upgraded in texture and performance, offering a better driving experience to drivers.

Meanwhile, the BAIC EX360 re-took the championship in the A0-segment BEV (battery electric vehicle) SUV segment with its Jan-Aug sales aggregating 15,226 units. Since the EX360 went on sale in March, the automaker has received over 20,000 units of the model, which boasts rather long range, masculine exterior, diversified amenities as well as favorable price.

The EU series saw its sales reach nearly 3,000 units in August. The BAIC EU5, the sales driver of the EU series, has by far attracted over 16,000 orders in total since it was brought into the market.

http://autonews.gasgoo.com/new_energy/70015192.html

 

[TaiShang]

Great Wall Motor unveils Wingle 7, to roll out 5 more pickup models over next 3 years

Claire From Gasgoo| September 28 , 2018

Shanghai (Gasgoo)- The Great Wall Wingle 7, the new pickup model developed by Chinese automaker Great Wall Motor, made its debut on September 28.

At the launching ceremony, the automaker announced that its pickup unit will be operated as an independent brand and more than 5 new pickup models will be rolled out over the next three years.

Positioned as a mid/full-sized pickup model, the Wingle 7 retains the exterior design from the existing models of the Wingle series. The new model adopts a hexagonal chrome intake grille, which seamlessly connects with the headlights on both sides. The circular fog lights below the headlights convey an unmistakable visual effect. Unlike its brothers, the Wingle 7 features a more sculptural shape in the front face.

From a side view, the new pickup boasts concise lines. There are a gantry and a high-mount stop light in the front of the truck bed. The multi-layered rear end features well-marked logo of “Great Wall Motor” and “Wingle 7” in Chinese.

The Great Wall Wingle 7 offers two size options. The smaller one measures 5,095mm in length, 1,800mm in width and 1,760mm with a wheelbase of 3,050mm. The wheelbase is extended to 3,350mm for the larger one, which is 5,395mm long, 1,800mm wide and 1,760mm height.Inside, the new pickup is outfitted with the intelligent-connected system co-developed with iFlytek Co., Ltd., a Chinese software company engaging in the R&D of intelligent speech and language technologies.

The Wingle 7 will be powered by a 2.0L turbocharged diesel engine rated at 110kW with peak torque of 315 N·m. The engine is mated to a 5-speed or 6-speed manual transmission.

http://autonews.gasgoo.com/china_news/70015217.html

@Kai Liu

 

[TaiShang]

Bigger is better, car buyers say

By Cheng Yu and Li Fusheng | China Daily | Updated: 2018-10-01

A JAC brand SUV takes part in an international racing event in Zhangye, Northwest China's Gansu province, on July 21. [Photo/for China Daily by Pei Qiang]

SUVs, MPVs are popular as drivers seek more space, better driving experience

"Bigger is better," said Xu Junyang, a securities analyst in Beijing, when asked what kind of vehicle he was looking for at a dealership.

As his wife will soon give birth to their second child, the 39-year-old has decided to replace his four-year old five-seat Buick Lacrosse with a larger vehicle.

"Cars with plenty of room are the priority, those that can carry at least three adults, two safety chairs, two baby carriages and a lot more," Xu said.

He is not alone. China's introduction of the second-child policy at the beginning of 2016 has spurred a huge demand for bigger vehicles among young couples.

There were more than 17 million newborn babies last year, of which more than half were second children, soaring by 11 percent compared with the previous year, according to the National Bureau of Statistics.

"Even if we don't have a second child now, buying a big SUV is the long-term plan," said Lin Li, a 26-year-old college graduate in Beijing.

Lin bought a Toyota Highlander this year as her budget excluded the possibility of buying a second car in the coming four or five years.

"Why not consider bigger ones at the outset?" Lin said, adding that she might have two children in the future.

Lin said a bigger car had always been her first choice as her family will have at least seven members, including her parents and parents-in-law.

"For younger buyers, bigger cars have also become a popular choice because they look more cool and driving them brings a feeling of adventure," she said.

Some people who have two children and old parents are shifting toward MPVs, with Volkswagen's Sharan and Honda's Odyssey being popular choices.

Cao Jian, an IT specialist in Beijing, traded up his Volkswagen Sagitar sedan for a seven-seat Odyssey in June.

"I wanted a big SUV, but the comfort and roominess of MPVs finally gained the upper hand," said Cao, whose parents are over 70 years old.

He said MPV bodies are lower and thus more suitable for older passengers and their seats are more comfortable than those of SUVs.

"What impressed my wife and me is that the Odyssey's seats in the second row can be laid flat and you can sleep on them, which is great for both kids and parents," Cao said.

He said the decision came after he test-drove big SUVs including the Toyota Highlander and Peugeot 5008, but their seats were not comfortable enough, and the Volkswagen Teramont was too big for him.

"We don't need great performance or clearance ability; what we need is space and comfort," he added.

However, for those who enjoy self-driving tours, big SUVs such as the Teramont or Toyota Prado are popular.

Wang Lina, a 35-year old businesswoman who is planning a trip to the Tibet autonomous region during the National Day holiday, said big SUVs are a "natural choice" for her.

"You are not worried even if some road sections are poorly surfaced, because SUVs can handle such conditions," said Wang, who often takes her family to suburban areas for fun.

"Besides, there is more legroom in SUVs, so you are less tired than in a sedan if you travel long distances. And I'm told bigger cars are safer if there is an accident," she said.

Statistics from the China Tourism Academy showed that Chinese people made 223 million self-driving trips in the first half of 2017, with the average distance standing at 142.8 kilometers. Of the drivers, more than 80 percent were aged between 31 and 35.

The academy said these people are mainly middle and high-income earners and they are more interested in the travel experience than their destinations.

These trends have driven up sales of SUVs in the past few years. Last year, more than 10 million SUVs were sold, up 13.32 percent year-on-year, according to statistics from the China Association of Automobile Manufacturers.

In the first half of this year, the SUV sector was also the fastest growing in the Chinese auto market, with sales soaring nearly 6.3 percent year-on-year to 4.69 million vehicles.

Even though the growth rate has slowed in the past few months, major carmakers are still ramping up efforts to develop SUV models, sensing demand from people who need to drive on various road conditions across the country.

Beijing Automotive Group Co Ltd, one of China's top five automakers by sales revenue, for example, said it is investing more resources to develop its SUV business.

"The SUV market is growing at a fast pace and people have big aspirations for that. This is an area in which we want to be uniquely positioned," said Xu Heyi, chairman of BAIC Group.

"We will focus on improving off-road vehicle offerings because consumers today have higher demands for their SUVs' functionality," Xu said.

Wang Zilin is one of them. Wang and his wife work in Qingdao in East China's Shandong province, but they travel to their hometown in the rural area of Linyi in the same province two times a month.

Wang said there are rugged road sections during the three-hour drive.

"It is more comfortable to drive a big SUV as it can handle those uneven roads better," he said, adding that the seats on SUVs are higher, allowing drivers to see the road more clearly, which guarantees better views and travel safety.

http://www.chinadaily.com.cn/a/201810/01/WS5bb182a7a310eff3032807aa.html

 

[JSCh]

Chinese companies team up to develop hydrogen trucks
Source: Xinhua| 2018-10-13 16:21:25|Editor: Li Xia



HAIKOU, Oct. 13 (Xinhua) -- China's energy giant has partnered with a leading engine producer to jointly develop hydrogen trucks.

An agreement was inked between two subsidiary companies and a research institute of China Energy Investment Corporation (CHN Energy), the world's largest energy company for installed capacity, and manufacturer Weichai Power Company to produce heavy-duty mining trucks running on hydrogen. Such trucks will have a carrying capacity of more than 200 tonnes.

The companies aim to make breakthroughs in key equipment and engineering technologies through the cooperation, according to a statement.

The move marks a step forward in promoting clean fuel in China's transport sector, which has already witnessed the operation of hydrogen-powered buses in Shanghai as well as Chengdu, capital of southwest China's Sichuan Province.

CHN Energy's general manager Ling Wen said China's hydrogen fuel development has started to pick up pace, adding that more technological innovations will promote the use of hydrogen in a wide range of industries from cars to spaceships.

A report predicts hydrogen will soon become a significant part of China's energy mix, taking up a share of at least 10 percent.

 

[Globenim]

Industry groups from Japan and China are teaming up to standardize next-generation quick chargers for electric vehicles (EVs), which are expected to become the global norm.

Let's hope no one meddles with this decision that will benefit the vast majority of people, just to preserve the privilege of a few.

 

[TaiShang]

Baidu, China TransInfo team up to bolster autonomous car, AI development

Molly From Gasgoo| September 29 , 2018

Shanghai (Gasgoo)- Beijing Baidu Netcom Science Technology Co., Ltd and China TransInfo Technology (China TransInfo) signed a strategic framework agreement to conduct cooperation in autonomous driving area, according to an announcement released by China TransInfo on September 28.

Under the agreement, China TransInfo, the leading provider of public transportation information systems technology and comprehensive solutions in China, becomes a partner of Baidu Apollo platform to engage in the collaboration with the Apollo in autonomous driving-related technologies, ecosystem as well as traffic applications.

Focusing on autonomous vehicle R&D, both parties will work together on providing the comprehensive and reliable intelligent vehicle infrastructure cooperative solutions. China TransInfo will research and provide the on-board V2X (vehicle-to-everything) system and traffic infrastructures for autonomous cars. Meanwhile, Baidu will make full use of its leading autonomous driving technologies and AI technologies that relate to connected vehicle-road synergy.

Moreover, China TransInfo intends to give network scenarios and data services for Baidu to carry out autonomous car verification and demonstration running. Both companies will join forces to build the autonomous vehicle with intelligent connectivity features and enhance vehicle's adaptive capability to the surrounding based on the connected vehicle-road synergy system.

As to the traffic applications, Baidu and China TransInfo will jointly construct and operate the autonomous driving and intelligent-connected traffic facilities in such scenarios as enclosed industrial parks, urbane roads and expressways, etc. by sharing respective resources and technologies.

 

[JSCh]

Fiber for Ultra-Light NEVs in Zhejiang
TANG SHIHUA
DATE: FRI, 10/19/2018 - 14:09 / SOURCE:YICAI

China's Haiyuan to Make Carbon Fiber for Ultra-Light NEVs in Zhejiang​

(Yicai Global) Oct. 19 -- Chinese composites firm Haiyuan New Material Technology will construct a carbon fiber production base in eastern Zhejiang province to develop ultra-light materials for new energy vehicles.

Haiyuan inked a framework agreement with Zhejiang Sea Port, an investment firm set up by Zhejiang province's government, regarding the new plant, Fujianese chemical firm's parent Haiyuan Composites Technology said in a statement yesterday. The company did not disclose the size of funding nor the planned output but said that Haiyuan has designed a production line for ultra-light car bodies while securing intellectual property rights.

The investment firm will also establish a car industry fund for new material development, to which Haiyuan will invest in. The fund will have an initial investment of CNY2 billion (USD290 million) and later it will acquire a stake in the vehicle parts firm.

Both parties will promote the use of carbon fiber materials in cars to expand from Zhejiang to the whole country, while helping Haiyuan to become the leader in the sector, the statement added.

 

[bolo]

Let's hope no one meddles with this decision that will benefit the vast majority of people, just to preserve the privilege of a few.

Hi, there will be meddling. China and Japan is not a good partner

 

[Cybernetics]

Starts @10:40

• China's initial development of autonomous driving technologies started in 1980s
• An autonomous vehicle developed by Tsinghua University challenges Tianmen mountain road.
• The road: 10.77 km long, 99 turns, elevation from 200 to 1300m, 4.5m at the narrowest point, lowest visibility is 5m.

This can be potentially applied to logistics on tough mountain roads like in parts of Tibet. During times of need, experienced drivers might be in short supply.

 

[JSCh]

Shanghai issues China's first test plates for self-driving trucks
By Chen Liubing | chinadaily.com.cn | Updated: 2018-10-24 11:22

A heavy-duty driverless truck completes its first test run in Shanghai on May 24, 2018. [Photo/VCG]​

Shanghai has become the first city in China to issue road test plates for autonomous driving trucks, issuing two plates to technology companies TuSimple and Momenta according to a report from Shanghai-based Jiefang Daily.

Cumulative road test mileage for intelligent network vehicles exceeded 15,000 kilometers in Shanghai by the end of September, according to data from the Shanghai Economic and Information Commission. No traffic accidents or interference with road transportation occurred during the tests, the commission reported.

As a key application field for artificial intelligence, self-driving trucks can increase logistics transportation efficiency and reduce transportation costs. Road tests for autonomous driving trucks will accelerate relevant technology innovation and industrialization and lay a solid foundation for mass commercialization.

TuSimple, one of the plate winners, was founded in 2015 and focuses on research and development for large truck self-driving systems. The company owns R&D centers in Beijing, Shanghai and Hebei, and California and Arizona in the US. TuSimple got its autonomous driving road test plates in the US in 2017 and started commercialized test operations on US highways in August.

Momenta, a self-driving technology company and another plate winner, focuses on core algorithms for autonomous driving. Its products, from Level 0 to Level 4, provide various self-driving planning and big data-related services. Vehicles at L4 can complete all driving operations independently.

Shanghai released a trial regulation for intelligent network vehicle road testing this March and revealed the first 5.6-kilometer test road. Five plates were issued to SAIC Motor, NextEV, and BMW China, the report read.

The city announced its second test road, with a length of 31.6 km, during the 2018 World Intelligent Network Auto Conference last month. The test roads cover various road traffic environments, including main roads, secondary roads and main roads in industrial parks, which can be used to test passenger and commercial vehicles.

 

[TaiShang]

Lotus Cars sets up R&D center in Ningbo, said to roll out NEV models in China

Monika From Gasgoo| October 26 , 2018

Shanghai (Gasgoo)- Lotus Cars sets up an engineering unit in Hangzhou and a R&D center in Ningbo of China's Zhejiang Province to support the global development of new Lotus models by utilizing Geely's abundant resources, according to local media.

Lotus China engineering team and R&D center are located within the Geely Research Institute in Hangzhou and Geely's R&D center in Ningbo respectively. The Ningbo-based R&D center is recruiting specialists and engineers working on car door system, light system, bumper, air conditioning system, interior lights, suspension structural parts, suspension active/passive damper, steering system, vehicle electronics and anti-theft system, etc.

It is speculated that Lotus Cars may launch new energy vehicle models in China in light of the recruitment for battery system and electronic control system designing engineers.

Founded in 1951, Lotus Cars is an automotive company that manufactures sports cars and racing cars in the United Kingdom. The automaker includes the Esprit, Elan, Europa, Elise, Exige and Evora sports cars and it had motor racing success with Team Lotus in Formula One. In September, 2017, Zhejiang Geely Holding Group announced that it had taken a 51% controlling stake in Lotus and thus became the owner of the automobile manufacturer.

http://autonews.gasgoo.com/china_news/70015301.html

 

[TaiShang]

Haval F7 hits market with prices ranging from RMB109,000 to 149,000

Monika From Gasgoo| November 06 , 2018

Shanghai (Gasgoo)- The Haval F7 compact SUV officially went on sale on November 6 and is expected to be produced in Russia and then exported to Europe, South America and the Middle East. Prices for 6 variants range between RMB109,000 and RMB149,000.

The Haval F7 features a large-sized hexagonal mesh-designed intake grille at the front face, looking like a big mouth agape. The LED light source is used in the headlights and daytime running lights. Besides, the grille below is guarded by a silver fender and the black plaques embedded with circular fog lights are on both sides of the bumper. The logo of “Haval” in the middle of the front face identifies which automaker the model belongs to.

At the sleek rear end, the LED taillights connected by a chrome trim feature the similar style to the eagle-eye-shaped headlights. The sooty edge of the rear windshield delivers a sporty feeling. Two single exhaust pipes are symmetrically arranged on both sides of the rear end.

The Haval F7 measures 4,620mm in height, 1,846mm in width and 1,690mm in height. Wheelbase of the new model is 2,725mm.

Inside, the T-shaped center console is largely covered with a kind of soft material. In front of the flat-bottomed three-spoke steering wheel is the full liquid crystal instrument panel. In addition, the touch screen of the center console and the electronic gear level elevate the sporty and futuristic essence for the interior.

To ensure the driving safety, the Haval F7's 2.0 GDIT top-spec version is outfitted with such facilities as the LDW (lane departure warning), AEB (autonomous emergency braking), LCA ((lane change assist), BSD (blind spot detection), TSR (traffic sign recognition) and panoramic holographic image, etc.

The SUV offers two variants based on engine power outputs. The one is a 2.0L turbocharged engine that can generate a maximum power of 145kW and peak torque of 345 N·m, mated to a 7-speed dual clutch transmission and four-wheel drive system. The other is a 1.5L turbocharged engine, good for 124kW and 285 N·m.

http://autonews.gasgoo.com/china_news/70015332.html

@Kai Liu , @long_

From outside, looking nice. From inside, I think it is more geared toward millennials. I still prefer a more symmetrical dashboard. But new designs are more and more geared toward a driver-focused dashboard like this one.

Even Lexus is changing its interior styling.

 

[TaiShang]

Summary of Chinese automakers profit performance from Q1 to Q3

Monika From Gasgoo| November 09 , 2018

Shanghai (Gasgoo)- Gasgoo compiled the revenue and profit performances announced by several Chinese automakers as below. For the first three quarters, SAIC Motor sustained the leadership with its net profits rising 12.31% to RMB27.672 billion. Aside from Changan Automobile and FAW Car, the other automakers tabulated here all accomplished positive year-on-year (YoY) increase in Jan-Sept net profits. Although FAW Xiali failed to earn profits, its profit loss was clearly narrowed down over a year ago.

SAIC Motor

From January to September, SAIC Motor's revenues totaled RMB674.741 billion, climbing 10.97% over the previous year and the net profits attributable to shareholders grew 12.31% YoY to RMB27.672 billion, the automaker announced on October 30. The basic earnings per share were RMB2.37, 11.64 percentage point higher than that of a year ago.

The financial report showed that SAIC Motors' expenses on R&D aggregated RMB9.402 billion for the first nine months, which was RMB2.308 billion more than that of the previous year.

The automaker said the R&D expense increase partly resulted from the incremental investment in technology R&D over self-developed models, new energy vehicles (NEV) and intelligent connectivity. Besides, Huayu Vision Technology (Shanghai) Co., Ltd. was included in the scope of consolidated financial statements of Huayu Automotive Electric Drive System Co.,Ltd, a subsidiary of SAIC Motor, so that the group's R&D expenses were accordingly increased.

GAC Group

GAC Group posted a YoY growth of 2.79% with its revenues for the first three quarters totaling RMB52.822 billion. Meanwhile, its cumulative net profits attributable to shareholders rose 10.02% over a year ago to RMB9.86 billion, according to the official financial report released on October 30.

In the third quarter, the automaker saw its quarterly operation revenues fell 3.67% from a year earlier to RMB16.116 billion and the net profits attributable to shareholders reached RMB2.947 billion with a YoY increase of 6.03%.

GAC Group attributed its profit growth to the continuous increase in the sales of self-owned models, the improvement in R&D capability and the faster launching of new products. Besides, the joint ventures also generated blooming economic benefits thanks to the overall sales growth driven by such lucrative models as the eighth-generation Camry and the Outlander.

Great Wall Motor

Great Wall Motor reported revenue of RMB66.65 billion for the first three quarters with an increase of 5% year on year while the net profit attributable to the shareholders of the listed company jumps 36.36% to RMB3.927 billion during the period.

However, the automaker's revenue in the third quarter fell 19% from a year ago to RMB 17.966 billion. Its net profit attributable to the shareholders of the listed company was nearly halved to RMB231 million compared with the same period last year.

Official price reduction on some models and sales promotion may contribute to the profit drop in the third quarter. What's more, WEY, the automaker's premium brand, needs much more money for greater publicity.

Vehicle sales decline exerted great influence on its profits. In September, Great Wall sold 86,700 new vehicles, down 15% year on year. For the first nine months, the company's vehicle sales totaled 676,700, only, 58.33% of its 1.16-million annual sales target. In consequence, Great Wall saw its profit decline.

BAIC Motor

BAIC Motor reported that it earned RMB120.258 billion in revenues for the first three quarters of the year, achieving a YoY growth of 15.56%. For the first nine months, the company's operating profits jumped 32.69% over a year ago to RMB17.019 billion and its net profits attributable to shareholders amounted to RMB3.806 billion, strikingly surging 93.32% from a year earlier.

According to sales data released by the China Passenger Car Association (CPCA), Beijing Benz witnessed its sales evidently grew 16.02% year on year to around 41,000 units last month. Beijing Hyundai delivered around 80,000 vehicles in September, suffering a YoY drop of 5.86%. By the end of September, the joint venture saw its cumulative sales jump 15.57% from a year ago to 561,200 units.

BYD

From January to September, BYD's revenues totaled RMB88.981 billion, a YoY increase of 20.35%. However, its cumulative net profits attributable to shareholders slumped 45.3% from the previous year to RMB1.527 billion, the automaker announced on October 30.

In the third quarter, the company gained RMB34.83 billion in revenues with a YoY growth of 20.54%, while saw its net profits attributable to shareholders fell 1.92% over a year ago to RMB1.048 billion.

BYD said its net profit decline should be attributed to the phase-out of the NEV (new energy vehicle) subsidy, which led to the evident YoY decrease in the overall profits of NEV businesses, including electric buses and new energy passenger vehicles.

Changan Automobile

Changan Automobile's sales revenue totaled RMB 49.85 billion in the first nine months, down 3% compared with the same period of last year. During the period, the automaker's net profit plunged nearly 80% to RMB 1.16 billion.

For the third quarter, the company posted sales revenue of RMB 14.21 billion, falling 20.51% year on year while the net profit nosedived to RMB 450 million by 137.51 percent from a year ago.

Sales decline is the main contributor to the result. In the first nine months, Changan sold 1,647,616 new vehicles, down 20% compared with 2,058,204 of the same period last year. The company's self-owned brand and joint ventures both saw stagnant sales.

Dongfeng Automobile

Dongfeng Automobile Co., Ltd (Dongfeng Automobile) claimed that its Jan-Sept. revenues shrank 28.88% compared with the year-ago period to RMB9.243 billion, while the net profits attributable to shareholders zoomed up 259% YoY to RMB 414 million.

The automaker said that the revenues from Zhengzhou Nissan were excluded in this financial report, thus led to a sharp decline in cumulative revenues. From November, 2017, Zhengzhou Nissan would no longer be included in the scope of consolidation of Dongfeng Automobile's consolidated financial statements.

FAW Car

FAW Car's revenues for the first three quarters amounted to RMB19.032 billion, a YoY drop of 4.01%. The net profits available to equity shareholders shot up 53.6% over the previous year to RMB135 million with the earnings per share standing at RMB0.083.

In the third quarter, the automaker gained RMB5.553 billion in revenues with a YoY decline of 13.57%. The quarterly net profits attributable to shareholders soared 160.96% YoY to RMB54.207 million.

The company stated that the downturn in revenues and gross margin was partly caused by the sales decline, the fluctuation in raw material price and the adjustment of self-owned product lineup.

BAIC BluePark

BAIC BluePark New Energy Technology Co.,Ltd released the first financial report since it went on public, which said that the company attained a remarkable YoY growth of 63.21% with its revenues for the first three quarters reaching RMB9.787 billion. Meanwhile, the net profits available to shareholders leapt 56.13% from a year ago to RMB133 million.

Its subsidiary Beijing Electric Vehicle Co.,Ltd. (BAIC BJEV) delivered 11,560 vehicles in September, achieving a YoY jump of 35.22%. For the first nine months, the subsidiary saw its year-to-date sales surged 61.40% from a year ago to 81,678 units.

On October 18, BAIC BJEV announced its 2025 mid-long term technology development planning and elaborated on the brand-new artificial intelligence auto system, the Darwin System.

JAC Motors

JAC Motors witnessed its Jan-Sept revenues edged up 2.22% from the previous year to RMB36.331 billion. However, it came across a steep YoY reduction of 78.13% with the cumulative net profits attributable to shareholders amounting to only RMB48 million.

The profit plunge should be partly ascribed to the sales decline. From January to September, the automaker sold 361,559 vehicles in total, suffering a YoY decrease of 5.53%. Additionally, the change of NEV policy and product lineup resulted in a YoY drop of 3.3% in main businesses’ incomes. The fluctuating exchange rate and rising financing cost led to a larger financial expenditure, which was RMB71.83 million more than that of a year ago.

FAW Xiali

For the first nine months, Tianjin FAW Xiali Automobile Co., Ltd. earned RMB942 million of revenues with a YoY drop of 5.49%. Meanwhile, the company saw its net profit loss shrink to RMB1.003 billion, 10.73% lower than that of a year earlier.

FAW Xiali announced on September 28 that it transfers 100% stake in its wholly-owned subsidiary FAW Huali (Tianjin) Automobile Co. Ltd to Future Mobility Corporation (FMC), the Nanjing-based company behind the all-electric car brand BYTON with a value of RMB 1. The transaction will make BYTON qualified to produce passenger vehicles (PV).

FAW Xiali plans to transfer its 15% stake in Tianjin FAW Toyota to FAW Group Corporation, another stakeholder of Tianjin FAW Toyota, the automaker said on October 29.

 

[JSCh]

A slew of electric truck plans may deliver the goods for China's EV ambitions

CGTN
2018-11-17 12:30 GMT+8

The head of electric car startup Singulato Motors has grand plans for the new factory in Hunan Province: Ramp up the annual output to 50,000 by 2020 and ride the crest of a wave for e-truck demand in China.

"We think China's about to see an electric commercial vehicle revolution," Singulato co-founder Shen Haiyin told Reuters in an interview. "In many ways, the EV future might arrive faster with commercial vehicles than passenger EVs."

Singulato, which is due to launch its first electric car by the middle of next year, hopes to open the e-truck plant by 2020. Shen envisions two main models that would appeal to e-commerce and logistics firms: A small intra-city delivery van the size of the Ford Transit or the Toyota HiAce, and a delivery truck under two tonnes.

Singulato's electric car at this year's Mobile World Congress. /VCG Photo

The growing momentum for e-trucks could prove to be a tipping point for the electric vehicle, first in China and eventually worldwide - encouraging the mass adoption that Tesla Inc and other EV makers are aiming to give rise to with passenger cars.

"It's a new game," said Bill Russo, head of Shanghai-based consultancy Automobility Ltd and a former Chrysler executive. "The advantages of electric vehicles become apparent when vehicles are deployed into transportation and logistics services fleets."

Impediments that come with electric vehicles, such as the high cost of the battery and cumbersome charging needs, could be erased with a truck fleet to make the total cost of operation cheaper than gasoline or diesel.

Batteries could be designed smaller since routes would be predictable, charging stations and schedules could be deployed more strategically and as trucks are often operated around the clock, economies of scale could be achieved, Russo said.

Foton, part of Beijing-based BAIC Group and China's biggest maker of light-duty trucks under six tonnes, is also looking at expanding further into electric delivery vans, people with knowledge of the matter said.

Foton's vehicle at the assembly line. /VCG Photo

The star has won the heart of the car makers

While electric trucks may not have grabbed the public imagination in the same way Tesla's electric vehicles have done, their advent has long been advocated by many auto experts.

Skeptical of the merits of the industry's rush into long-range passenger cars, they believe battery electric technology, because of its heavy weight and the limits on driving ranges, has a more natural home in short-haul trucks. That's particularly so for intra-city delivery vans and trucks plying routes that are pre-determined or at least predictable.

Last year, the number of electric light-duty commercial vehicles - both all-electric and plug-in hybrids - sold in China was roughly 200,000, about six percent of the market for trucks under six tonnes.

Nissan Motor Co, one of the first global automakers in China to develop an e-truck line-up through its venture with Dongfeng Group, believes that demand for light-duty e-trucks will quadruple in four to five years. Its joint venture, Dongfeng Motor Co Ltd, is aiming to lift its electric commercial vehicle sales six times to 90,000 by 2022.

Nissan's partner Renault SA is also on the case. Its new venture with Brilliance China Automotive Holdings Ltd plans to launch three electric delivery vans in two years, starting next year.

Warren Buffet-backed BYD and Geely also have some electric trucks and vans on the market, although volumes are still quite small.

Growth in e-trucks fits hand in glove with efforts by Beijing and Chinese local authorities to promote electric vehicles - both to jump-start a domestic auto industry that lags global rivals in internal combustion engine technology and to combat smog - a constant source of public discontent.