JAC: NEV becomes strategic core business

Shanghai (Gasgoo)- In June this year, JAC signed an agreement with Volkswagen about new-brand new energy vehicles (NEVs) manufacturing. Thus, JAC became the third partner of the latter in China.
Actually, recent years have seen JAC Motors' strategic focus on NEVs, the launch of a series of products and their increasing sales thereafter.
JAC aims to sell 200,000 NEVs by the end of 2020, and the sales of NEVs accounts for 30% of the total sales in 2025. To achieve that goal, JAC will launch 7 new energy vehicle models by 2020.
So far, JAC Motors has already developed two generations of pure electric vehicle platform, including eight generations of products. The first generation from iEV1 to iEV4 was developed based on traditional fuel cars. The second series started from iEV5, and were specifically developed for electric cars. This year, JAC Motors launched new products including iEV6E, iEV7, iEV4-2017, and iEV7S.
The NEVs of JAC gained a noticeable performance while the sales of traditional fuel cars went down. According to statistics, the sales of pure electric passenger vehicles in October this year grew by 244.33% year on year to reach 3,247 units; and the total sales from January to October grew by 74.11% to reach 20,742.
However, the industry sources revealed that, though the sales of JAC pure electric passenger vehicles increased steadily, yet it may not become a pillar for sales like SUV in the near future.
As mentioned, on June 1st, JAC signed a cooperation agreement with Volkswagen on JV. According to the agreement with a JV term of 25 years, both sides will own 50% shares, to develop, manufacture and sell NEVs, and provide transportation services. JAC and Volkswagen will launch pure electric cars by fully utilizing technology and business advantages of both sides for their cooperation. The new JV will have its own brand and logo to innovate technology cooperation and business models, and explore the market in China and other countries.
The industry analysis pointed out that, through the bilateral cooperation, JAC can improve the competency and popularity of its products, and in the meantime, Volkswagen can occupy more market shares to achieve its "2025 Strategy".
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Zotye’s to launch new SUV Damy X5S

Shanghai (Gasgoo)- A group of shots of a new Zotye SUV model are released with similar to Damy X5 with inner “X5S” mark, which may be named as Damy X5S. Damy X5S may be the upgrading model of current Damy X5 model with an integrated design of controlling screen and dashboard, similar to Benz S-class model in interior design.
Black paint panel is used in Damy X5S controlling screen, showing great luxury. Interior design mainly uses black color with chrome-plated decoration banners and leather wrappings being used in details. The new model also equips with 3-spoke multi-functional steering wheel, auto hold and rearview mirror electric adjustments.
Honeycomb designing elements are used in the front air-inlet grilles, connecting with LED headlights. Fog lights are equipped in both sides of lower bumpers. The model shows a sporting image from the side, with waist line stretching to tail lights and matching with 5-spoke wheel rims. The new model also equips with spoiler and high mount stop lamp in the tail, with LED light sources in tail lights.
Damy X5S may equip with 1.5T turbo-charged engine with maximum power of 110KW and peak torque of 195NM. Its transmission system may equip with 5-speed MT and CVT gearboxes. The new model will compete with Haval H6 after being launched.
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Faraday Future said to raise 900 million dollars from Tata

Shanghai (Gasgoo)- A local media reported that the electric car start-up    Future, backed by Chinese entrepreneur Jia Yueting, managed to raise 900 million dollars from Indian Tata Group and the money accounted for 10 percent of its shares. In other words, the company’s valuation can be 9 billion dollars.
Recently, there were lots of coverage about the company and Jia Yueting. If the news about Tata’s investment will be confirmed, it will help the troubled electric carmaker to relieve the financial pressure.
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Kangde cooperates with BAIC to build biggest carbon fiber auto parts base

Shanghai (Gasgoo)- On November 6, Changzhou Kangde Composites Co., Ltd.’s project on New Energy Vehicles Carbon Fiber B dy and Components (namely Kangde Carbon Fiber Industry 4.0 East China Integrated Base) was officially launched in Changzhou National Hi-tech Zone, Jiangsu Province. Upon completion, it will become the world's largest and most technologically advanced manufacturing base for industrial 4.0 intelligent new energy carbon fiber automotive parts. The first phase of the project will be completed and put into operation in June 2019.
The project was jointly invested by Kangde Group, BAIC Group and Changzhou Hi-tech Group with a total investment of 12 billion yuan in three phases. The planned area is 1,000 mu (about 666,667 square meters) and the construction area is 1 million square meters. The annual production capacity is expected to reach 6 million units.
At the foundation-laying ceremony, Zhang Xiyong, deputy secretary of BAIC Group Party Committee and general manager of BAIC Group, said that carbon fiber lightweight is the key to the development of new energy vehicles. BAIC and Kangde have already had deep strategic cooperation in carbon fiber. Both parties firmly believe that carbon fiber lightweight is the core of the development of new energy vehicles and that BAIC should take the lead in carbon fiber lightweight.
Kangde Group has also cooperated with the new energy vehicle manufacturer NIO. In June this year, they signed a procurement agreement of smart electric car carbon fiber parts with a value of more than RMB 10 billion.
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CATL plans to raise RMB 13.12 billion through IPO

Shanghai (Gasgoo)- On November 10, China Securities Regulatory Commission (CSRC) website released the Initial Public Offering prospectus of Contemporary Amperex Technology Co. Ltd. (CATL). The battery maker plans to list on the Growth Enterprise Market (GEM) and raise RMB 13.12 billion to expand its output capacity and develop next-generation battery.
The prospectus says that CATL wants to publicly issue 217,243,733 RMB common shares, which accounts for no less than 10 percent of its capitalization after the offering. In other words, the company’s market value at that time will be around RMB 130 billion, which will be higher than that of most Chinese carmakers. Only SAIC (RMB 347.23 billion), GAC (RMB 167.46 billion) and Geely (RMB 140.38 billion) will be higher than CATL in market value while BYD will be at the same level as the battery maker.
According to the company, the money raised will be mainly invested in two projects. The first one is CATL’s power battery manufacturing base in Huxi. With a proposed investment of RMB 9.86 billion, the base will cover 385 mu (about 256,667 square meters) to produce power battery cell, module and pack. Boasting 24 production lines, the base is expected to have an annual capacity of 24 GWH.
The other one is the research project on power and storage battery. It will focus on developing new energy passenger vehicle power battery, new energy commercial vehicle power battery, energy storage battery and next-generation battery.
In the prospectus, the company reveals that in the past three year, the company posted rapid growth in operation revenue, net profit and asset size. The respective operation revenue of the past three years was RMB 867 million, RMB 5.703 billion and RMB 14.879 billion and the compound annual growth rate was up to 314.31 percent. Its net profit increased to RMB 3.89 billion in 2016 from RMB 56 million in 2014 and the compound annual growth rate reached 642.7 percent.
In 2015 and 2016, CATL’s sales in power battery system were 2.19 GWh and 6.8 GWh. With a good momentum of development, the company was among the TOP 3 players in the global power battery industry for two consecutive years. In the first half of this year, the company ranked first in domestic market.
Although the company has a history of only 6 years, it has formed long-term strategic cooperation relationships with many Chinese carmakers such as SAIC, BAIC, Geely, Dongfeng and Changan. What’s more, CATL managed to gain access to the supply chain of global carmakers, like BMW and VW.
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China to ease control on foreign automakers’ ownership and to cut vehicle import tariff

Shanghai (Gasgoo)- Our country will start a pilot program before the end of June, 2018 to loosen the restrictions on foreign firms’ investment ratio in special use and new energy vehicles businesses established in our free trade zones, according to a statement of the foreign ministry issued after the meeting between U.S. President Donald Trump and China President Xi Jinping.
According to the existing rules, foreign automakers should set up joint ventures with local counterparts if they want to produce locally. The foreign companies can have up to 50 percent stake of the joint ventures in China. If the cap can be lifted, it would be landmark departure from the current policy.
What’s more, our government will cut vehicle tariffs on vehicles step by step. Currently, the imported vehicles to China will be levied 25 percent duty.
In October, Wall Street Journal reported that Tesla has reached an agreement with Shanghai to set up a wholly owned factory in the city’s free-trade zone and that the automaker still needs to pay for 25 percent import tariff. Days later, the spokesman of the Commerce Department confirmed the American automaker’s discussion with Shanghai government.
The ease on the control will help the American electric car maker to expand its market share in the biggest auto market across the world. And also its factory in China will slash its manufacturing and transportation cost.
During U.S. President Donald Trump’s three-day visit to China, companies on both sides announced many deals, approximately 250 billion dollars in value.
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Geely’s annual sales expected to exceed 1.2 million

Shanghai (Gasgoo)- In July, Geely Automotive raised its 2017 sales target by 10 percent to 1.1 million vehicles. Last month, Geely’s monthly sales reached 125,000 units. Altogether, the automaker has delivered over 950,000 units in the past ten months, achieving 87 percent of its annual sales target. We expect that plus the sales of the coming model of LYNK & CO, Geely’s annual sales will exceed 1.2 million units.

Different from Great Wall Motor’s focus on SUV, Geely adopts a balanced development path between the sedan segment and the SUV segment. From the type stack chart, we can see that in the first three quarters, the sales of Geely’s sedans and SUVs were at similar level. The SUV sales reached 394,532 units, soaring 239.8 percent. The automaker delivered 433,300 sedans in the period, up 24.9 percent.

Geely once attributed the substantial growth to the improvement of its product portfolio. The model stack chart from Gasgoo shows its diversified product portfolio in sedan, SUV and crossover vehicle. From the chart, we can tell that the quality models contribute a lot to Geely’s total sales volume. Take Boyue as an example. In the first three quarters, Geely sold 194,658 Boyues, surging 263.7 percent.

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                           Zotye’s net profit of first three quarters soars over tenfold year over year