Massive strike at Volkswagen factories in Germany, Stellantis CEO resigns and share price drops | Overseas Daily
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BYD's Second Export Ship Starts Operation, Transporting 5,000 Electric Vehicles to Europe
Key Points:
Recently, the Chinese new energy vehicle giant BYD has made another achievement in its global expansion. Despite the tariff policy on imported Chinese electric vehicles in Europe, BYD remains firm in its determination for global expansion and recently activated the second BYD-branded export ship, "Changzhou", to transport 5,000 New Energy Vehicles (NEVs) to Europe. BYD has made significant progress globally in the past three years, promoting its multiple new energy vehicle brands to new markets around the world. The European market, as the core of BYD's global expansion, was established long before the European Commission implemented the tariff policy.
In January this year, BYD entrusted the "Explorer 1" vessel to transport vehicles to Europe. With the increase in export volume, BYD stated in April that it needed more ships to accelerate the transportation speed. For this reason, BYD built the "Hefei" vessel by itself, which made its debut in September and can transport up to 7,000 vehicles. At the same time, BYD quickly assembled the second ship named "Changzhou" in China. This ship has joined the fleet and is carrying more new energy vehicles to Europe.
"Changzhou" is BYD's second wholly-owned ship and the third in its growing export fleet. The ship is 199.9 meters long and has a carrying capacity of 7,000 vehicles. It is named after Changzhou City in China, where BYD has been manufacturing vehicles since the beginning of 2022. BYD's naming method is consistent with the previous "Hefei", which is also named after the city where the company manufactures vehicles. According to Wang Junbao, the general manager of BYD's department, on Weibo, "Changzhou" left the port on November 29 and officially started operation, loading nearly 5,000 BYD new energy vehicles from Lianyungang and Taicang ports in Jiangsu Province and heading to Europe, while contributing to "lowering the global temperature by 1°C". It is expected that by January 2026, BYD will add 7 new roll-on/roll-off ships to be put into operation. Except for "Explorer 1", we expect to see the maiden voyages of more ships in the next 13 months.
BYD "Changzhou" (Source: Electrek)
Opinions:
BYD's expansion in the global new energy vehicle market is undoubtedly an epitome of the rise of China's automotive industry. Facing the tariff barriers in the European market, BYD not only did not retreat but instead increased its investment, which shows the resilience and strategic vision of Chinese enterprises in global competition. The departure of "Changzhou" is not only a powerful response by BYD to the European market but also an important contribution to the stability of the global new energy vehicle supply chain. Against the backdrop of global emission reduction and carbon neutrality, this move by BYD has far-reaching significance. It not only helps promote the popularization of global new energy vehicles but also is an active response to the global climate change challenge. By increasing the transportation capacity of ships, BYD can deliver new energy vehicles to the European market more quickly, meet the growing demand for green travel, and at the same time lay a solid foundation for the company's global market layout.
In addition, this action by BYD also provides valuable experience for other Chinese new energy vehicle manufacturers. Today, with the rise of global trade protectionism, how to break through trade barriers through innovation and expansion of production capacity is a topic that Chinese enterprises need to face together. The success of BYD may provide other enterprises with a feasible solution, that is, by enhancing their own global logistics capabilities to reduce their dependence on external uncertainties.
Zeekr and Li Auto Announce November Electric Vehicle Sales, Zeekr Increases by 106%, Li Auto Increases by 18.8%
Key Points:
Chinese electric vehicle manufacturers Zeekr and Li Auto recently announced their electric vehicle delivery data for November 2024. Zeekr delivered 27,011 vehicles in November, with a year-on-year growth of 106%, and the cumulative delivery volume from the beginning of 2024 to now is 194,933 vehicles, with a year-on-year growth of 85%. As of the end of November, Zeekr's cumulative delivery volume has reached 391,566 vehicles. Geely Automobile, Zeekr's parent company, announced last month that it will acquire a 51% stake in Lynk & Co, valuing this Sino-Swedish joint venture at approximately 2.4 billion euros. The remaining shares will be held by Geely Automobile. Geely plans to form a new new energy vehicle manufacturing group with Zeekr and Lynk, with an expected annual sales volume of more than one million vehicles, a significant increase compared to the total sales volume of approximately 339,000 vehicles of the two brands in 2023.
Meanwhile, Li Auto delivered 48,740 vehicles in November, with a year-on-year growth of 18.8%. As of November 30, Li Auto's cumulative delivery volume in 2024 is 441,995 vehicles, and the cumulative delivery volume has reached 1,075,359 vehicles. Li Auto has maintained the leading sales position in the Chinese passenger vehicle market above 200,000 yuan (approximately 26,000 euros) for eight consecutive months. The cumulative delivery volume of Li Auto L6 exceeds 160,000 vehicles, and it has remained the sales champion of Chinese brands in models above 200,000 yuan since June. In addition, the company's continuous progress in autonomous driving technology has also driven the demand for Li Auto AD Max-equipped models. In November, the proportion of Li Auto AD Max-equipped models in the orders of models above 300,000 yuan (approximately 39,000 euros) and above 400,000 yuan (approximately 52,000 euros) exceeded 70% and 80% respectively. The company released the 6.5 version of the OTA update in November, providing all Li Auto AD Max users with a one-click point-to-point autonomous driving function, utilizing its end-to-end (E2E) and Visual Language Model (VLM) technologies. As of November 30, Li Auto has 475 retail stores in 141 cities in China, 451 service centers and authorized paint and body centers in 223 cities, and 1,135 supercharging stations with 5,680 charging piles.
Li Auto L6 (Source: Li Auto)
Opinions:
The sales reports of Zeekr and Li Auto once again prove the strong growth momentum of the Chinese new energy vehicle market. Zeekr's year-on-year growth of more than double shows its strong competitiveness and brand appeal in the high-end market. Li Auto's continuous growth also reflects its success in technological innovation and market positioning. Zeekr's growth benefits from the strategic layout of its parent company Geely Automobile. Through the acquisition of Lynk & Co's shares, Zeekr is expected to further expand its market share and form a synergy with Lynk & Co to jointly promote the long-term development of Geely Group in the new energy vehicle field. This move not only helps Zeekr enhance its brand influence but also gives Geely Group a greater say in the global new energy vehicle market.
Li Auto's sales growth and market-leading position are due to its continuous investment and innovation in autonomous driving technology. As consumers' demand for intelligent and electrified vehicles is increasing, Li Auto has successfully attracted a large number of loyal users by providing high-end configurations and advanced technologies. Especially in the high-end market above 300,000 yuan, Li Auto's order proportion exceeds 70%, showing its competitiveness in the high-end market. Overall, the sales growth of Zeekr and Li Auto not only reflects the broad prospects of the Chinese new energy vehicle market but also shows the rise of Chinese brands in the global automotive industry. With the continuous progress of technology and the further expansion of the market, it is expected that Chinese new energy vehicle manufacturers will continue to maintain a strong growth momentum in the next few years and play a more important role in the global market.
NIO Delivers 20,575 Electric Vehicles in November, Breaking the 20,000 Mark for Seven Consecutive Months
Key Points:
China's leading high-end electric vehicle manufacturer NIO delivered 20,575 vehicles in November 2024, with a year-on-year growth of 28.9%, marking the seventh consecutive month with a delivery volume exceeding 20,000 vehicles. This achievement indicates NIO's continuous growth and strong performance in the electric vehicle market. Among the November deliveries, NIO's high-end intelligent electric vehicles delivered 15,493 units, while the family-oriented intelligent electric vehicle brand ONVO delivered 5,082 units. In the first 11 months of 2024, NIO delivered a cumulative 190,832 vehicles, a 34.4% increase compared to the same period last year. As of November 30, 2024, NIO's cumulative delivery volume reached 640,426 vehicles.
NIO ET5 T (Source: Electriccarsreport)
Opinions:
Last month, NIO officially launched its third brand - Firefly, and the first model of the same name. According to NIO, the Firefly brand will exceed user expectations in design, safety, space, intelligence, and energy efficiency, bringing a new era of smart electric vehicles to the global compact car market. NIO regards the Firefly brand as the epitome of the company's innovation and refinement. The Firefly brand will be officially released at the NIO Day on December 21, 2024, and its first model is planned to be delivered in the first half of 2025. NIO's current brand lineup includes its namesake high-end brand and the ONVO brand launched earlier this year. November 25, 2024 marked the 10th anniversary of NIO. Over the past ten years, NIO has continuously broken through in product design, technological innovation, and business models. With its full-stack independent R & D technical capabilities, a nationwide energy network, and a unique user community, NIO has laid a solid foundation for future growth.
"Big Events"
XPeng Motors Sets New Delivery Record in November with 30,895 Smart Electric Vehicles
XPeng G6 (Source: Electriccarsreport)
Chinese smart electric vehicle manufacturer XPeng Motors recently announced its delivery results for November 2024, setting a new record. In November, XPeng Motors delivered a total of 30,895 smart electric vehicles, with a year-on-year growth of 54% and a month-on-month growth of 29%, showing a strong growth momentum. Since its launch, the main model MONA M03 of XPeng Motors has delivered more than 10,000 vehicles for three consecutive months. In addition, the delivery volume of XPeng P7+ exceeded 7,000 vehicles within 23 days after its launch. In the first 11 months of 2024, XPeng Motors delivered a cumulative 153,373 smart electric vehicles, with a year-on-year growth of 26%. In terms of intelligence, the monthly active user penetration rate of XPeng Motors' XNGP (XPeng Intelligent Assisted Driving System) in urban driving reached 85%. On November 15, 2024, on the opening day of the Guangzhou Auto Show, XPeng Motors successfully completed the industry's first "door-to-door" ADAS (Advanced Driving Assistance System) test based on a unified software suite, achieving a consistent experience in different scenarios such as parking, highways, and urban roads.
At the same time, XPeng Motors officially entered the Nepalese and British markets in November, further expanding its global business territory. The flagship model G6 of XPeng Motors has attracted widespread attention in the international market. At the 2024 Danish Annual Car Awards, XPeng G6 won the highly anticipated "2024 Technology Pioneer" title. This achievement of XPeng Motors not only reflects its strong competitiveness in the Chinese market but also marks its further expansion and influence in the global electric vehicle field. With XPeng Motors' continuous deepening in technological innovation and global market layout, its future development prospects are highly anticipated.
Stellantis CEO Resigns, Share Price Drops
Carlos Tavares, the CEO of Stellantis, suddenly announced his resignation on Sunday after being severely criticized for his handling of the company's affairs. Following this news, Stellantis' share price dropped, with Reuters reporting that it fell by 8.9% at one point. Tavares, previously regarded as one of the most respected executives in the industry, has recently been blamed for mistakes in the crucial North American market. Despite making some progress in 2023, earlier this year, Tavares came under severe scrutiny as Stellantis issued a profit warning for its 2024 performance, expecting expenditures of up to $10.5 billion. This year, the company's share price has lost 40% of its value.
Henri de Castries, the senior independent director of Stellantis, said in a statement: "The success of Stellantis since its creation has been rooted in the perfect alignment between the reference shareholders, the board of directors, and the CEO. However, different views have emerged in recent weeks, which led to the decision made by the board and the CEO today." Stellantis said it plans to find a new leader in the first half of next year and that a special committee of the board will manage this process. The 62-year-old Tavares was originally expected to retire when his contract ends in early 2026.
Stellantis CEO Carlos Tavares (Source: Electrek)
One of Tavares' mistakes in the US was causing a backlog of Jeep, Chrysler, Ram, and Dodge vehicles at factories or dealer lots, which drew severe criticism from dealers. In the first half of the year, vehicle deliveries in the North American region dropped by 18%, and the market share decreased from 10% to 8.2%. In addition, Stellantis was slow to lower vehicle prices in the face of fierce competition from General Motors and Ford, and analysts said that the core customers of these brands considered the vehicle prices too high.
At the same time, the United Auto Workers Union also targeted Tavares as Stellantis laid off