The buzz around EVs is heavily focused on Tesla which sells more EVs than any other electric vehicle company, and indeed more than BMW, Mercedes Benz, VW, Nissan, and Renault EV sales put together. Tesla’s fortunes have made it the highest-valued car company in the world. But while Tesla might be leading the charge for innovation, the Chinese EV manufacturers are beginning to grow at a rapid rate. Not many Chinese EVs have arrived Downunder, but they could be coming soon. Here are some of the brands and models to look out for, many of which may arrive over the next couple of years.
NIO was founded in November 2014 and the first model was introduced in 2016 was the EP9 supercar. In May 2018, NIO opened its first battery swap station in the Nanshan District of Shenzhen, Guangdong, China, dubbed the "Power Swap Station". In May 2021, Nio announced a Norway expansion plan, which has the highest EV sales market share, so it’s not surprising that Nio has chosen Norway to become the first country outside of China to sell its product.
Nio has positioned its model line-up as a range of premium, luxury vehicles that can compete head-on with Tesla, as well as EVs launched by legacy car-makers such as BMW, Mercedes, and Audi amongst others.
ES8
The main model that is currently being sold outside of China in Norway, and presumably other European markets in 2022 is the ES8. This is a large SUV, dimensionally comparable to the BMW X7 and Mercedes-Benz GLS, and offered with a choice of 6 or 7 seats.
The car has achieved a five-star Euro NCAP rating, and in Norwegian specification, is offered with a choice of 75kWh or 100kWh batteries, yielding WLTP certified ranges of 375km and 500km respectively.
Nio claims a 0-100 km/h time of 4.9 seconds from a dual-motor powertrain combining to provide more than 400kW of power and 724Nm of torque.
In Norway, the company has priced the ES8 at around 600,000Kr ( $95,000AUD) for the 75kWh version, and 679,00Kr ($106,000AUD) for the 100kWh battery.
ET5
Most recently, the brand has unveiled its Tesla Model 3-rivalling ET5 sedan with a purported range of up to 1000km on the CLTC Chinese test cycle, when equipped with a 150kW battery. Also available in smaller 75kWh and 100kWh battery sizes, the ET5 in China is priced from the equivalent of $72,140AUD
Other models that the company has revealed include the flagship Tesla Model S-rivalling ET7 sedan, which will also be available with similar battery capacities to the ET5, and include features such as a 7.1.4 Dolby Atmos surround sound system, standard Brembo brakes, and a 0-100 km/h acceleration figure of less than 4 seconds. This particular model is currently undergoing pre-production testing with an intention to launch in China in Q1 2022.
Nio is currently also selling the ES6 and EC6 crossover SUVs in China only. These are smaller models, comparable in size to the Mercedes-Benz GLC and BMW X3, with the EC6 effectively being a coupé version of the more upright ES6. Nio claims similar range and performance figures of 610 and 615km (on the unrealistic NEDC cycle) and acceleration of 4.5 and 4.7 seconds from 0-100 km/h respectively when equipped with a 100kWh battery. It is uncertain whether these models will be exported outside of China.
In December 2021, NIO delivered 10,489 vehicles, up 49.7% year-on-year. For the fourth quarter, NIO’s deliveries reached 25,034 units, rising 44.3% year-on-year, representing a positive growth for seven quarters in a row.
In 2021, NIO delivered 91,429 vehicles, up 109.1% year-on-year and more than quadrupled from 2019. As of December 31, 2021, NIO’s vehicle deliveries amounted to 167,070 units in total.
Geely Auto Group
Whilst you may have never heard of this Chinese EV automotive company, you would have heard some of the brands the company owns such as Lotus, Volvo, the new EV brand Polestar. It also owns London black cab maker LEVC, the London EV Company, and has focused on building plug-in hybrid taxis, which have both a petrol engine and electric battery.
Geely Auto Group is an automobile manufacturer based in Hangzhou, China, and was founded in 1997. This isn’t a small operation as you’ll see, the group employs more than 50,000 people, operates 12 plants, five global R&D centers in Hangzhou, Ningbo, Gothenburg, Coventry, and Frankfurt. The Group also boasts five global design studios in Shanghai, Gothenburg, Barcelona, California, and Coventry respectively with over 1000 members of staff in total. Geely Automobile Holdings, a subsidiary company owning the Geely Auto, Geometry, and 50% of Lynk & Co brands have been listed on the Hong Kong stock exchange since 2005.
Sales across its automotive brands – Geely Auto, Geometry, LYNK & CO, Zeekr, Volvo Cars, PROTON, Lotus, LEVC, and Farizon Commercial Vehicle – grew 5% year-on-year to exceed 2.2 million units in 2021, a new record for the Group. For the fourth consecutive year, Geely Holding recorded more than 2 million units in aggregate sales.
Key group EV brand summary
Zeekr, its own home-grown EV brand, Zeekr is Geely’s global electric mobility technology solutions brand which was launched last year along with its first premium pure electric model, the Zeekr 001. According to Zeekr’s website, the 001 is offered in three variants, with driving ranges of up to 712km (although this is NEDC so expect more like 500km in real world conditions). There is a single 200kW/384Nm motor variant with a 100kWh battery, plus two dual-motor variants both deliver 400kW power output and 768Nm torque with either an 86kWh or 100kWh battery.
While the single-motor variants get the longest range it is also limited in its acceleration, sprinting to 100km/hr in 6.9 seconds. The dual motor variants both complete the 100km/hr sprint in 3.8 seconds. Zeekr says it will offer the 001 to drivers via a subscription service, which will allow early adopters and government or business fleets access to a high-end valet service including vehicle drop offs.
While Geely’s other electric brand, Polestar, has started selling in Australia late last year, don’t expect to Zeekr here any time soon.
Polestar, in its second year of producing and delivering its mass-production Polestar 2 model, has shown impressive growth. In 2021, Polestar met its target of selling 29,000 vehicles globally, an increase of 185% YoY. By 2025, the brand expects its sales to increase ten-fold to 290,000 vehicles. In the past year, the brand has announced several new upcoming models including its first SUV, the Polestar 3, and plans to start production in America. The brand’s global footprint has nearly doubled to 19 markets in 2021.
In Australia, the first offering is a Polestar 2, with a starting price of $64,900 plus on-road cost. The line-up starts with a two-wheel-drive, “standard range, single motor” model delivering 165kW of power and a claimed 440 kilometres of range. A mid-spec “long range, single motor” model priced just shy of $69,900 (about $70,000 drive-away in EV states with incentives) has a bigger battery offering 540km of range, along with an extra 5kW of power. The top-of-the-range “long range, dual motor” versions combine the big battery with another motor for 480km range and 300kW of power at $69,900 plus on-roads (about $75,000 drive-away).
All three variants can be had with two key options. A $6000 “Plus” pack delivers luxuries such as a seriously impressive 13-speaker Harman Kardon stereo, panoramic sunroof, wireless phone charging, and a heated rear seat and steering wheel.
Volvo, The first ever fully-electric Volvo has sold out before it has been officially launched in Australia. Volvo Car Australia says its 2021 allocation of the XC40 Recharge Pure Electric has been exhausted already, and a request for extra 2022 production has been sent to Sweden.
Priced from $76,990 before on-road costs, the Recharge Pure Electric is the most expensive model in the XC40 compact SUV range. It carries a $12,000 premium over the Recharge plug-in hybrid model.
The all-wheel-drive Pure Electric features an electric motor on each axle and a 78kWh battery pack, with total outputs quoted at 300kW and 660Nm. Volvo says the XC40 Recharge Pure Electric accelerates from 0-100km/h in 4.9 seconds.
The XC40 EV is a relatively crucial new variant for Volvo, considering the Swedish brand Chinese owned is planning to sell only electric vehicles from 2030 onwards.
Farizon, the commercial vehicle brand under Geely New Energy Commercial Vehicle Group, achieved exponential growth over 2021 with its new diversified new energy product portfolio. The brand saw its sales increase by more than 759% with over 42,000 vehicles sold.
BYD “Build your Dreams”
BYD is the Biggest Electric Vehicle Company You’ve Never Heard Of. Shenzhen’s BYD, which started as a battery company, back in the mid 1990s, it was a battery manufacturer making nickel-cadmium batteries for Motorola, Nokia, and Sony Ericsson. BYD isn’t well-known outside of its home market, China. But it’s could become the world’s largest maker of electric vehicles as it’s planned to grow rapidly and expanding globally.
BYD operates out of a 667-acre Shenzhen headquarters with manufacturing plants, warehouses, employee dorms, a hotel, supermarket, K-12 school, vertical charging car carousel, and BYD SkyRail, its own monorail system.
Then, like all things in China, BYD scaled up and moved up the value chain. It entered segments such as electric bikes, then it went into electric scooters and mopeds.
It’s a company that loves manufacturing; it invested in battery factories, assembly lines, and the fabrication of semiconductors. BYD invested exactly in those areas that require heavy capital investment and also happen to be labor-intensive. They are also areas that BYD’s Western counterparts have shunned for a long time.
So when BYD began building its EV’s, it was the only car company that possessed an integrated supply chain. It feeds itself with batteries and semiconductors, yet it’s smart enough to follow the playbook of TSMC (Taiwan Semiconductor Manufacturing Company) the world’s biggest semiconductor manufacturer. BYD doesn’t just compete against other carmakers, it’s also supplying critical components including the now famous “Blade battery” and is the 4th biggest EV battery supplier globally.
The BYD portfolio is huge, but for the EV auto arm of the business 2 cars that are currently most worthy of attention are the Tang and Han.
The Tang SUV was introduced into the local market in 2020 and the Norwegian market late in 2021, costing around 600,000 Kr ($95,000 AUD) while offering a 400km range (est from BYD) and 0 to 62mph in 4.6 seconds. Considering the size of the Tang, it’s in a similar class to the Tesla Model X and with similar performance but for money more in the same ballpark as the Model Y.
The Han is reported to be going on sale in Norway during the first quarter of 2022 at a starting price of 307,600Kr ( $49,000 AUD )
BYD’s 2021 annual passenger new energy vehicle (NEV) sales grew by 231.6% YoY to 593,745, setting a new sales record in China. NEV sales rose sharply by 236.4% YoY and reached 92,823 units in December.
There we go, these 3 companies are just the tip of the iceberg on Chinese EV automotive offering what appears to be, very well appointed products. We’ll see the Chinese testing out the European market first, as, unlike Australia, the EU countries has generous incentives in place. No doubt, when they finally hit the land Downunder, will see a good number of these products in the sub $50,000 AUD range, which will be the catalyst for the EV onslaught and the phasing out of ICE vehicles in Australia once and for all.
And finally, I’m confident that the Chinese EV offering will be substantial for the Australian market, so with that, I will be creating a new EV section this month, dedicated to Chinese EV news only. As mentioned in past articles, the Australian EV landscape experiencing triple digit growth YOY, adding the offerings of the Chinese will only see this trend continue for some time to come.
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