EV's ARE POSTMODERN FORDI$M
China's Leapmotor unveils new manufacturing platform, wants others to use itReuters
Mon, July 31, 2023
Leapmotor's EV WORKERLESS production line in Jinhua
SHANGHAI (Reuters) -Chinese electric vehicle maker Zhejiang Leapmotor Technology unveiled on Monday a new platform it developed in-house for making vehicles, which its chief executive said it wants to license to other automakers.
The "Four Leaf Clover" architecture features an integrated computing platform capable of controlling all intelligent functions including an EV's autonomous driving and smart cockpit functions, Leapmotor's CEO Zhu Jiangming told reporters in Shanghai.
The company hopes to sell the platform to other automakers via tech licensing agreements, he said.
Leapmotor is in advanced talks with two foreign companies about such partnerships, including a new player in the electric vehicle segment, which could produce Leapmotor-developed models in overseas markets, Zhu said without elaborating.
"We hope Leapmotor will not only be an EV brand but also a licensor of core technologies," Zhu said.
Companies in the automotive sector use the terms platform and architecture to describe the basic engineering and design that determines a vehicle’s size, weight and key elements of performance.
A senior Leapmotor engineer told the event the firm had achieved cost savings with the architecture by reducing the use of controls and wire harnesses, and Zhu said this would cut the materials cost per car by 500 yuan ($70).
The company is already planning to launch the platform's next generation in 2025, which would include improvements in computing capabilities and smart cockpits, Zhu said.
Zhu, a veteran electronics engineer who co-founded surveillance giant Dahua, launched Leapmotor in 2015 with the backing of investors including state-owned Shanghai Electric Group Corp and Hongshan, formerly known as Sequoia Capital China.
The company and its fellow Chinese EV startups have been struggling with losses and declining sales since U.S. rival Tesla started a price war at the beginning of the year.
Leapmotor, which employs more than 2,000 engineers, sold 44,500 units in the first half, 14% fewer than a year ago.
But some young EV manufacturers, thanks to their heavy research and development investment, have been at the forefront of EV technology innovation that appeals to tech-savvy Chinese consumers who like having more intelligent features in cars.
Leapmotor spent 11% of its total revenue on R&D in 2022.
Volkswagen and Xpeng announced last week a partnership to jointly develop EVs on Xpeng's G9 "Edward" platform, in a fillip for the Chinese startup that analysts said could boost its sales and profitability.
($1 = 7.1512 Chinese yuan renminbi)
(Reporting by Zhang Yan and Brenda Goh; Editing by Jacqueline Wong, Robert Birsel and Tomasz Janowski)
Volkswagen in talks with Leapmotor on tech tie-up for Jetta brand - China media
Reuters
Wed, August 2, 2023
A Volkswagen ID.7 vehicle is pictured during the carmaker's annual shareholder meeting
BEIJING (Reuters) -Volkswagen is in talks with Chinese electric vehicle startup Zhejiang Leapmotor Technology about the possibility of cooperation for Volkswagen's Jetta brand, a Chinese media outlet reported on Wednesday, citing sources.
A joint venture between VW and state-owned Chinese automaker FAW Group could "buy" a platform of EV technologies from Leapmotor, according to the state-backed financial news website Cailianshe.
Leapmotor and VW China declined to comment. Reuters was unable to independently confirm the reported discussions between the companies.
Leapmotor unveiled on Monday a new platform it developed in-house for making vehicles, which its chief executive said it wanted to license to other automakers.
CEO Zhu Jiangming told reporters that Leapmotor was in advanced talks with two foreign companies about such a partnership, including a new player in the electric vehicle segment, which could produce Leapmotor-developed models in overseas markets.
Leapmotor's shares in Hong Kong jumped as much as 5% in afternoon trading after the Cailianshe report, reversing earlier losses.
Volkswagen and Xpeng announced last week a partnership to jointly develop EVs on Xpeng's 'Edward' platform on which the Chinese startup's G9 model was built.
(Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Robert Birsel and Muralikumar Anantharaman)
Reuters
Wed, August 2, 2023
A Volkswagen ID.7 vehicle is pictured during the carmaker's annual shareholder meeting
BEIJING (Reuters) -Volkswagen is in talks with Chinese electric vehicle startup Zhejiang Leapmotor Technology about the possibility of cooperation for Volkswagen's Jetta brand, a Chinese media outlet reported on Wednesday, citing sources.
A joint venture between VW and state-owned Chinese automaker FAW Group could "buy" a platform of EV technologies from Leapmotor, according to the state-backed financial news website Cailianshe.
Leapmotor and VW China declined to comment. Reuters was unable to independently confirm the reported discussions between the companies.
Leapmotor unveiled on Monday a new platform it developed in-house for making vehicles, which its chief executive said it wanted to license to other automakers.
CEO Zhu Jiangming told reporters that Leapmotor was in advanced talks with two foreign companies about such a partnership, including a new player in the electric vehicle segment, which could produce Leapmotor-developed models in overseas markets.
Leapmotor's shares in Hong Kong jumped as much as 5% in afternoon trading after the Cailianshe report, reversing earlier losses.
Volkswagen and Xpeng announced last week a partnership to jointly develop EVs on Xpeng's 'Edward' platform on which the Chinese startup's G9 model was built.
(Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Robert Birsel and Muralikumar Anantharaman)
Why Is VW Teaming Up with Yet Another Chinese Automaker?
Jay Ramey
Mon, July 31, 2023
Here’s Why VW Is Teaming Up with Automaker XPengXpeng
Volkswagen and Guangzhou-based automaker XPeng plan to collaborate on two new EVs meant for the Chinese market, relying on XPeng's own platform, with the two expected in 2026.
XPeng has achieved much in a short period of time in the sphere of EVs and autonomous tech since launching in 2014.
Volkswagen is seeing increased competition from local automakers as well as Tesla in the field of EVs, as it enters a new era of its operations in China.
Volkswagen is the European automaker with the longest presence in China, having landed in the Middle Kingdom in 1983 with the Santana sedan. And for decades, the country has been one of its most important overseas markets, with VW establishing joint ventures with a number of automakers over the years.
In the era of electrification, VW produces two EV models unique to the Chinese market, under joint ventures with First Automotive Works (FAW) and Shanghai Automotive Industry Corporation (SAIC)—two of China's oldest automakers that have also collaborated with American automakers on several vehicles for the domestic market.
VW is now teaming up with automaker XPeng, taking a 4.99% stake in the company and investing $700 million in the process, with plans to develop two electric models scheduled to be launched in 2026. Their development will be overseen by a new entity called Volkswagen Group China Technology Company (VCTC), with over 2000 development and procurement experts slated to work on EVs.
The main difference to prior efforts will be that these VW-branded vehicles won't be based on Volkswagen's platforms. Instead, VW will use XPeng's own "Edward" architecture, which has underpinned its P7 and G9 models.
"Together with XPeng, we aim to put two additional fully connected electric vehicles on the road from early 2026 onwards, thus opening up new customer groups for the VW brand," said CEO VW Brand Region China, Stefan Mecha.
For the moment, the focus of these two new VW models will be on the Chinese market. But XPeng's export potential is something VW will be looking at down the road.
Guangzhou-based XPeng, launched in 2014, is a relatively small automaker by the country's standards, but the company has sought to take on larger automakers directly with the sleek and innovative vehicles, including the G9 crossover pictured above. The company has seen its share of early success among China's New Energy Vehicles, which include EVs and hybrids, and has also opened offices stateside.
XPeng has sought to challenge Tesla and others in China with high-tech models like the P7.XPeng Motors
XPeng is also well known in the field of autonomous vehicles, having developed its own systems instead of relying on outside developers. It is expected that VW will benefit from XPeng's expertise in this field in developing the two new models, amid increased competition with Tesla in China.
Audi, also part of the VW Group, plans to expand its cooperation with automaker SAIC, with the aim of extending its offerings in the premium segment.
"It is planned to start with electric models in a segment where Audi does not as yet have a presence in China," the automaker hinted.
The two agreements, revealed last week after months of rumors, work to cement VW's presence in a market that is rapidly changing, and one in which VW is not as dominant as it once was. For one thing, there are plenty of new Chinese brands on the market with EVs in their lineups, which was not the case a. decade ago. For another, European and American automakers have seen their market shares in China fluctuate wildly over the past decade as the public's taste has continued to evolve.
The VW Group has managed to weather these changes thanks to its dominant position in the market, which relied on midsize and executive cars for quite some time.
"The partnerships aim to swiftly expand the Group’s product range with further models from China for China in particularly promising customer and market segments," VW summed up the goals of the agreements.
The main takeaway is that the EV market in China has developed to a point where a foreign automaker like VW can launch several models entirely unique to that market, relying on Chinese automakers' platforms and technology instead of the other way around.
Will we see a Chinese automaker offer EVs stateside in this decade under its own brand, as had been promised for years, or is this unlikely at the moment? Let us know what you think.
Jay Ramey
Mon, July 31, 2023
Here’s Why VW Is Teaming Up with Automaker XPengXpeng
Volkswagen and Guangzhou-based automaker XPeng plan to collaborate on two new EVs meant for the Chinese market, relying on XPeng's own platform, with the two expected in 2026.
XPeng has achieved much in a short period of time in the sphere of EVs and autonomous tech since launching in 2014.
Volkswagen is seeing increased competition from local automakers as well as Tesla in the field of EVs, as it enters a new era of its operations in China.
Volkswagen is the European automaker with the longest presence in China, having landed in the Middle Kingdom in 1983 with the Santana sedan. And for decades, the country has been one of its most important overseas markets, with VW establishing joint ventures with a number of automakers over the years.
In the era of electrification, VW produces two EV models unique to the Chinese market, under joint ventures with First Automotive Works (FAW) and Shanghai Automotive Industry Corporation (SAIC)—two of China's oldest automakers that have also collaborated with American automakers on several vehicles for the domestic market.
VW is now teaming up with automaker XPeng, taking a 4.99% stake in the company and investing $700 million in the process, with plans to develop two electric models scheduled to be launched in 2026. Their development will be overseen by a new entity called Volkswagen Group China Technology Company (VCTC), with over 2000 development and procurement experts slated to work on EVs.
The main difference to prior efforts will be that these VW-branded vehicles won't be based on Volkswagen's platforms. Instead, VW will use XPeng's own "Edward" architecture, which has underpinned its P7 and G9 models.
"Together with XPeng, we aim to put two additional fully connected electric vehicles on the road from early 2026 onwards, thus opening up new customer groups for the VW brand," said CEO VW Brand Region China, Stefan Mecha.
For the moment, the focus of these two new VW models will be on the Chinese market. But XPeng's export potential is something VW will be looking at down the road.
Guangzhou-based XPeng, launched in 2014, is a relatively small automaker by the country's standards, but the company has sought to take on larger automakers directly with the sleek and innovative vehicles, including the G9 crossover pictured above. The company has seen its share of early success among China's New Energy Vehicles, which include EVs and hybrids, and has also opened offices stateside.
XPeng has sought to challenge Tesla and others in China with high-tech models like the P7.XPeng Motors
XPeng is also well known in the field of autonomous vehicles, having developed its own systems instead of relying on outside developers. It is expected that VW will benefit from XPeng's expertise in this field in developing the two new models, amid increased competition with Tesla in China.
Audi, also part of the VW Group, plans to expand its cooperation with automaker SAIC, with the aim of extending its offerings in the premium segment.
"It is planned to start with electric models in a segment where Audi does not as yet have a presence in China," the automaker hinted.
The two agreements, revealed last week after months of rumors, work to cement VW's presence in a market that is rapidly changing, and one in which VW is not as dominant as it once was. For one thing, there are plenty of new Chinese brands on the market with EVs in their lineups, which was not the case a. decade ago. For another, European and American automakers have seen their market shares in China fluctuate wildly over the past decade as the public's taste has continued to evolve.
The VW Group has managed to weather these changes thanks to its dominant position in the market, which relied on midsize and executive cars for quite some time.
"The partnerships aim to swiftly expand the Group’s product range with further models from China for China in particularly promising customer and market segments," VW summed up the goals of the agreements.
The main takeaway is that the EV market in China has developed to a point where a foreign automaker like VW can launch several models entirely unique to that market, relying on Chinese automakers' platforms and technology instead of the other way around.
Will we see a Chinese automaker offer EVs stateside in this decade under its own brand, as had been promised for years, or is this unlikely at the moment? Let us know what you think.
Ford restarts electric pickup truck factory after retooling to increase output, says orders are up
Ford Lightning electric pick-up trucks are displayed at a dealership, Monday, Feb. 6, 2023, in Manchester, N.H. Ford is resuming production of the F-150 Lightning electric pickup after closing a factory in Dearborn, Michigan, to add more production capacity.
Tue, August 1, 2023
DETROIT (AP) — Ford is resuming production of the F-150 Lightning electric pickup after closing a factory in Dearborn, Michigan, for six weeks to triple production capacity.
The move comes just two weeks after the company cut prices on all versions of the trucks, some by as much as $10,000, fueling speculation that demand had fallen.
But company officials said Tuesday that they're getting six times the orders now than before the price cuts, and Ford has an order bank big enough to take up 45 days of production at the reworked Rouge Electric Vehicle Center. The company wouldn't give an exact number of orders.
Lightning sales in the second quarter of the year were more than double the same period in 2022, but there were up only 4% from the first quarter.
Ford says that's because they stopped production at the Rouge Electric Vehicle center in June to add equipment and expand the plant so it can make more vehicles. The plant, which now employs about 2,000 workers, will be able to produce electric trucks at a rate of 150,000 per year starting this fall.
Two weeks ago, Ford slashed prices on the electric trucks by thousands of dollars across the board in anticipation of increased factory output, falling costs for battery raw materials and internal efforts to scale production.
The price cuts across the Lightning line, some as deep as $10,000, were seen on on Wall Street as more evidence of a coming price war among electrical vehicle makers.
The cuts also were announced two days after Tesla said its first production Cybertruck electric pickup had rolled off the assembly line, though nearly two years behind the original schedule and with little information about how much they may cost. Large-scale Cybertruck production isn't expected until late this year or early next year.
Marin Gjaja, chief customer officer for Ford's Model e electric vehicle unit, said the company sees strong EV demand at present “but the future is somewhat unpredictable and volatile.”
The company has orders to match the increased factory output, but Gjaja said Ford will watch to see how things play out. “We’re seeing competition increase. We’re seeing inventories out there grow as competition adds supply and availability. And we’re going to have to adjust with the market. Ultimately, the customers are going to decide,” he said.
The updated starting price for the Pro model, Ford's lowest priced electric pickup, will be $49,995, down about $10,000. The price for the high-end Platinum Extended Range version of the Lightning was cut from $98,074, to $91,995, a drop of more than $6,000.
Ford and others face increasing competition from automakers rolling out full-size electric pickup trucks. Rivian's R1T is already on sale, and Chevrolet's Silverado EV is due out soon. Stellantis says it will have a Ram electric pickup in the fourth quarter of next year.
Last week Ford predicted its pretax losses this year on electric vehicles will balloon to $4.5 billion, from $3 billion previously.
Ford shares rose 0.6% to $13.29 in midday trading Tuesday.
Ford Lightning electric pick-up trucks are displayed at a dealership, Monday, Feb. 6, 2023, in Manchester, N.H. Ford is resuming production of the F-150 Lightning electric pickup after closing a factory in Dearborn, Michigan, to add more production capacity.
Tue, August 1, 2023
DETROIT (AP) — Ford is resuming production of the F-150 Lightning electric pickup after closing a factory in Dearborn, Michigan, for six weeks to triple production capacity.
The move comes just two weeks after the company cut prices on all versions of the trucks, some by as much as $10,000, fueling speculation that demand had fallen.
But company officials said Tuesday that they're getting six times the orders now than before the price cuts, and Ford has an order bank big enough to take up 45 days of production at the reworked Rouge Electric Vehicle Center. The company wouldn't give an exact number of orders.
Lightning sales in the second quarter of the year were more than double the same period in 2022, but there were up only 4% from the first quarter.
Ford says that's because they stopped production at the Rouge Electric Vehicle center in June to add equipment and expand the plant so it can make more vehicles. The plant, which now employs about 2,000 workers, will be able to produce electric trucks at a rate of 150,000 per year starting this fall.
Two weeks ago, Ford slashed prices on the electric trucks by thousands of dollars across the board in anticipation of increased factory output, falling costs for battery raw materials and internal efforts to scale production.
The price cuts across the Lightning line, some as deep as $10,000, were seen on on Wall Street as more evidence of a coming price war among electrical vehicle makers.
The cuts also were announced two days after Tesla said its first production Cybertruck electric pickup had rolled off the assembly line, though nearly two years behind the original schedule and with little information about how much they may cost. Large-scale Cybertruck production isn't expected until late this year or early next year.
Marin Gjaja, chief customer officer for Ford's Model e electric vehicle unit, said the company sees strong EV demand at present “but the future is somewhat unpredictable and volatile.”
The company has orders to match the increased factory output, but Gjaja said Ford will watch to see how things play out. “We’re seeing competition increase. We’re seeing inventories out there grow as competition adds supply and availability. And we’re going to have to adjust with the market. Ultimately, the customers are going to decide,” he said.
The updated starting price for the Pro model, Ford's lowest priced electric pickup, will be $49,995, down about $10,000. The price for the high-end Platinum Extended Range version of the Lightning was cut from $98,074, to $91,995, a drop of more than $6,000.
Ford and others face increasing competition from automakers rolling out full-size electric pickup trucks. Rivian's R1T is already on sale, and Chevrolet's Silverado EV is due out soon. Stellantis says it will have a Ram electric pickup in the fourth quarter of next year.
Last week Ford predicted its pretax losses this year on electric vehicles will balloon to $4.5 billion, from $3 billion previously.
Ford shares rose 0.6% to $13.29 in midday trading Tuesday.
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