Introducing Chinese electric car brands – GAC Motors

Introducing Chinese electric car brands – GAC Motors

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The relatively young GAC Motors is one of China’s best-respected vehicle brands. The company has a defined EV strategy and will add three models to its EV fleet in 2017.

Guangzhou Automobile Group Topped the “2016 BEST CHINESE CAR BRAND” Customer satisfaction survey.

Guangzhou Automobile Group Co, Ltd. founded in 2005 has various Joint Ventures with large international auto manufacturers such as Toyota, Hino, and Honda. Wanxiang Group, a large auto-parts manufacturer, and owner of Karma Automotive, previously known as Fisker Automotive, is one of the founding shareholders.

GAC MOTOR established its New Energy division at the end of 2015. The division focused on developing its R&D and production to penetrate the growing Chinese market for EV’s. The New Energy strategy is supported by GAC Group’s “1513” new-energy development strategy which makes the development of an R & D platform, R & D of core technologies a key development direction for its products.

GAC has international ambitions and aims to establish sales and service networks in 14 countries, including North America, Africa, South and Eastern Europe and South East Asia. GAC has reaped the rewards of creating a world-class vehicle brand and sold more than 380,000 vehicles in 2016, compared to around 194,000 the previous year, and has achieved 80 percent compound annual growth rate from 2011 to 2016. The company expects to sell 500,000 cars in 2017 and plans to produce 1 million cars in 2020. The Group targets 200,000 new energy vehicles in 2020 and meeting fuel consumption targets of 5.0L/100Km over its model range. In 2016 GAC Trumpchi delivered a total of 3,378 units of its GA5 PHEV model, an increase of 167% on 2015.

To support its strategy, Guangzhou Automobile Group passed two resolutions impacting EV development at its Board of Directors meeting on June 5th, 2017.

  1. It was resolved that a new company would be established for the Groups New Energy Vehicle (NEV) program. The company would be named GAC New Energy Automotive Co. Ltd. and would be capitalized to the tune of RMB 300m.
  2. It was further resolved to increase the GAC Motor’s capital with RMB 2.26b to expand its annual EV capacity of 200,000 units by 2020. GAC Motor is launching nine new Trumpchi models, of which three is NEV models, namely the GE3 BEV crossover, GS4 PHEV and GA6 PHEV.

GAC Motors are also pursuing other electric mobility solutions. In February 2016, Guangzhou Lixin Taxi Company owned by GAC Access launched more than 200 Levin twin-engine HEVs into Guangzhou taxi market. Also, GAC Group fully mobilizes the creativity of various business sectors and is actively devoted to new energy and energy conservation and environmental protection. GAC Motors and BYD established a JV in 2015 to co-operate in EV development. As a result, the company launched 400 pure electric buses produced by GAC BYD New Energy Bus Co., Ltd. into Guangzhou public transport system to provide services for citizens. The JV company is 51% owned by GAC and has a registered capital of 300m RMB.

Click through to the GAC Motors page on wattEV2Buy to explore the past, present and future EV models by the Chinese automaker.

Stay tuned to wattEV2buy and follow the rest of our weekly series on Chinese EV brands.


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Faraday Future’s wheels are coming off

Faraday Future’s wheels are coming off

Faraday Future‘s wheels are coming off due to what its founder, Jia Yeutling, is calling a “big company disease,” being a cash crunch. LeEco, the Chinese equivalent of Netflix and parent company of two EV start-ups, Faraday Future in the USA and LeSee in China, is forced to sell its Silicon Valley property, earmarked for its US headquarters. The sale, reported by Reuters, to Chinese property developer, Genzon Group, will provide the company with $260 million much-needed cash.

LeEco, now known for overpromising and massively under delivering, claimed that its premium car, the Faraday Future FF91, is a “Tesla Killer.” LeEco unveiled the FF91 “Tesla Killer” at the 2017 CES in Las Vegas along with the LeSee concept electric vehicle. While the LeSee received acclaim the launch of the FF91, on the other hand, was a real doozie. Faraday Future quickly published a highly edited version of the launch on its website, but it was too late as real events quickly went viral. See the video at this link. LeEco has also partnered with Aston Martin on the RapidE, where it will help with the development of the zero emission technology.

Faraday Future, a contradiction in terms, is scaling back all its operations in the USA, with the headcount rumored to have halved over the last couple of months. The production facility in North Las Vegas has been scaled back significantly, and although ground-breaking started late 2016, it has just remained that, as no production facilities have been erected. The company could not even pay the $21 million deposit to Aecon despite being offered $300 million by the local authorities for building the assembly plant there. The new phased construction is in line with the company’s reduced model lineup down from 7 models to 2.

The 13-year-old LeEco is financially pressed on all fronts. Rumors have also been flying that it was exciting its India operations and shares in its flagship unit, Leshi Internet Information and Technology Corp Beijing lost 25% of its value in five months. LeEco, which products include consumer electronics and cellphones, such as the LePro phone were able to raise $2.2 billion from Sunac China Holdings, a property developer. The funds are however not earmarked for LeEco‘s electric car division.

Top 5 Electric Vehicle News Stories Week 49 2016

Top 5 Electric Vehicle News Stories Week 49 2016

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Faraday Future revealed several teasers of its Electric Vehicle in anticipation of its launch during the Computer and Electronics Show in Las Vegas early next year. The teasers posted on Instagram included darkened images of the rear and front of the vehicle, leaving much to the imagination. The teasers also included video’s of the masked vehicle in motion and racing a Bentley and Tesla. The company is keeping up appearances despite recent reports that cash flow issues are hampering the construction of its Las Vegas assembly plant.

#2 – Lucid Motors partners with Samsung SDI on battery tech

Lucid Motors, the newly branded automaker from Silicon Valley, previously know as Atieva, and Samsung SDI entered into a strategic partnership on creating a next generation lithium-ion battery cell, focussing on improving the energy density and lifespan associated with damage caused by fast charging. Lucid’s Director of Battery Technology, Dr. Alber Lui said: “I have been very pleased with the results of the collaboration with Samsung SDI in developing a cell chemistry that meets our stringent standards.”

#3 – Trump appoints “Enemy of EPA” to head it

President-elect Donald Trump this week appointed Scott Pruitt as the Environmental Protection Agency’s (EPA) new head. The appointment of a self-proclaimed enemy of the agency as its head is sparking fear in environmental circles, including the electric vehicle sector. Traditional automakers have already called for changes in the agency’s emissions targets. It seems however that the agency is fighting back with it fast tracking the filing of its midterm review before President Trump’s inauguration. The new standard calls for a fuel consumption limit of 54.5 MPG by 2025.

#4 – Possible EV from Chinese smartphone maker

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).

#5 – BMW downbeat on EVs

Despite BMW’s reaffirming its strategy to pursue the development of electric vehicles at its September board meeting, the company remains downbeat on the sector. BMW’s Chief Financial Officer, Frederick Eichner, was quoted by Bloomberg saying “We’ve learned that people aren’t prepared to pay a higher price for an electric vehicle. I don’t see some kind of disruptive element coming from electric cars that would prompt sales to go up quickly in the next five to six years.”

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