CHINESE ELECTRIC VEHICLE ASSEMBLY PLANTS
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wattEV2Buy prides itself on providing the most extensive and visual list of all-electric vehicles since 2010. Click through to the specific electric vehicle list that peaks your interest. Apart from listing all EVs since 2010 we also list just Battery Electric Models, Plug-in electric vehicles, Fuel Cell electric vehicles, autonomous cars, and Chinese auto brands, highlighting what’s happening in the world’s most active electric vehicle sector. Want to do a more detailed comparison of the latest electric cars? Go to our lists for current and future model years, where we list all EV models including range, battery size, speed and charging times.
CHINESE EV BRANDS IN THE NEWS
2017 Week 25 - SAIC creates battery JVs
SAIC, the state-owned top four Chinese auto manufacturer and CATL, top lithium battery manufacturer, this week established two joint venture companies in a bid to challenge Tesla’s dominance in the EV and Battery sectors. CATL and SAIC will play to their strengths in the separate JVs with CATL focusing on battery technology and SAIC on drivetrain development.
In a similar vein, BYD, the top-selling EV manufacturer in China for two years running has spun its battery division into a separate entity allowing it sell batteries to other Chinese and international auto manufacturers.
2017 Week 7 - Slowdown in Chinese EV Sales
The Wall Street Journal reported on the Chinese Electric Vehicle market hitting a roadblock, with new electric vehicles sales down over 60% for January. China up till now has been the mainstay of the sector with sales increases in 2015 of 300% and 50% on top of that in 2016. The recent clampdown on corruption in the sector which led to a range of new regulations being forced on the Chinese market since December 30, 2016, is seen to be the reason for the sharp slowdown. The Wall Street Journal reported on fines of $150 million imposed on some companies in September 2016. The fines were as a result of subsidy fraud. The Chinese Government also indicated earlier the year that they want to lift barriers to entry and limit the market to around ten manufacturers, down from over 200 currently, in a bid to improve quality and safety of the end product.
2016 Week 49 - Xiaomi to enter electric vehicle market
Chinese Smart Phone maker, Xiaomi, also know as the “Apple of China” in a surprise move announced that it would unveil an electric vehicle on Monday the 12th of December. Speculation is rife on the type of electric vehicle that the company could launch, with most commentators believing it to be a scooter or Neighbourhood Electric Vehicle (NEV). It will not be the smartphone makers first electric vehicle, earlier this year the company unveiled an electric bicycle, the Mija Qicycle, a 250watt electric motor with a range of 45km (28miles).
2016 Week 47 - Zhiche Auto raised funds for new Chinese electric vehicle
Another Chinese automaker, Zhiche Auto, announced this week that it raised around $600m for yet another new Chinese Electric Vehicle brand. The company aims to produce 200,000 vehicles per annum by 2020. The company is a joint venture between Singleato Motors, an internet company founded in 2014 focusing on connected vehicles and other cloud services and an investment fund for the City of Tongling in Anhui Province. The automaker plans to bring its first model, a crossover SUV, to market in 2018.
2016 Week 46 - Financial stress impacts construction of Faraday's Las Vegas assembly plant
General speculation that some of the Chinese tech companies entering the electric vehicle space might run into financial trouble had its first high-profile casualty. Faraday Future, a LeEco company this week halted construction of its Las Vegas facility. LeEco CEO, Jia Yeuting, who invested $300m of his personal funds announced that the company is short of cash and that construction would be delayed to 2017. The company, however, was able to secure further funding commitments from 10 Chinese companies of around $600m. Investors included Hailan, a Chinese apparel firm who’s investment is a bid to support China’s auto industry.
2016 Week 44 - Nissan
2016 Week 42 - Faraday Reveal
The Chinese Electric Vehicle manufacturer based in Los Angeles, Faraday Future announced via Twitter this week that it would unveil its new electric vehicle at the 2017 Computer and Electronics Show, held from 5 to 8 January 2017 in Las Vegas. The company has partnered with AECOM in building a sustainable manufacturing plant in Nevada.
2016 Week 40 - VW and JAC / SAIC / FAW
2016 Week 36 - Subsidy Fraud
The Wall Street Journal reported that the Chinese Government fined five vehicle manufacturers for subsidy fraud related to the country’s electric vehicle promotion scheme. The fraud totaled around $150M and the penalties levied involved the company’s to pay back the subsidies and a 50% fine on the fraudulently received subsidies. The Chinese Government started tightening the regulations around the country’s electric vehicle program after recent media reports eluded to the fraud. Four of the companies involved inflated their sales figures while a fifth, Gemsea Bus Manufacturing Co. in Suzhou, entirely fabricated an electric vehicle program and had its auto manufacturing license revoked. On top of the fines, the four remaining companies were taken off the list of manufacturers eligible for subsidies. When reading the announcement, it’s clear that more companies abused the system, but these five were the most blatant.
2016 Week 33 - Gree acquire Zhuhai Zinlong Energy / WM Motor capitalization
1. Chinese Air-Con manufacturer, Gree Electric Appliances Inc. entered the Chinese electric vehicle segment with the acquisition of Zhuhai Zinlong New Energy Co, the 7th largest by volume EV manufacturer in China of 2015. Gree, who earns 86% of its revenue paid $1.8 Bln for the acquisition to broaden its product base.
2. Chinese auto startup, WM Motor this week raised $1Bln for its plan to produce electric vehicles for the Chinese market by 2018. The company is developing cars on two platforms and aims to produce 100,000 units per year. The by ex-Volvo and Geely executive, Freeman Shen founded WM in 2015. WM Motors and some other newcomers such as LeEco, Foxconn, Tencent, and Alibaba is banking on the Chinese Governments goal to boost electric vehicles to 3 million units a year by 2025, to reduce its dependency on fuel imports and combating pollution.
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