Tesla Model 3 Ranked Top Quality Sedan In China

[Hamartia Antidote]

Bye bye competition

https://oilprice.com/Latest-Energy-...odel-3-Ranked-Top-Quality-Sedan-In-China.html

The Shanghai-made Model 3 was ranked the top quality car in China, with the fewest reported customer complaints of 38 locally produced or foreign-made sedans in the world’s biggest auto market.

According to data from CheZhiWang, a Chinese website collecting complaint data about the quality of automobiles, Tesla’s Model 3 has received the fewest complaints—0.7 complaints per every 10,000 vehicles. This also was the first time that Tesla’s Model 3 has ranked the highest in this data collection.

The only other battery EV on the list of 38 sedans is Chinese brand Aion S, which ranks 8th out of 38 cars analyzed with 8.1 complaints per every 10,000 vehicles.

Tesla has been rolling out Model 3 in China for seven months.

In early January this year, Tesla delivered its first cars to customers from its newly built Gigafactory in Shanghai, just a year after it broke ground on the site for the construction.

Sales in China of Tesla’s electric vehicles made in China rebounded to hit a record in May, five months after the first cars from the Shanghai Gigafactory were delivered to customers.

“Model 3 has received a strong reception in China, not only becoming the bestselling EV, but also competing with mid-sized premium sedans, such as BMW 3- series and Mercedes C- (even before subsidies and vehicle tax), reduced operating costs and industry-leading standard equipment,” Tesla said about its Shanghai operations in the Q2 2020 update last month.

Tesla’s revenues in China doubled to US$1.4 billion for the second quarter of 2020, from US$690 million for Q2 2019, the company said in an SEC filing last week.

Globally, Tesla Model 3 was the best-selling EV in June, with more than 35,800 Model 3s sold in June and over 142,340 Model 3 sales year to date, with a market share of 15 percent, according to EV Sales.

 

[ZeEa5KPul]

Nice, juicy target. Maybe China should seize Tesla in retaliation for TikTok.

 

[Feng Leng]

Nice, juicy target. Maybe China should seize Tesla in retaliation for TikTok.

Nothing wrong with Tesla or Apple. HSBC needs to be the first target.

 

[ZeEa5KPul]

Nothing wrong with Tesla or Apple. HSBC needs to be the first target.

Tesla's a national security threat. They gather all kinds of personal data on Chinese citizens through their cars. Not to mention data about China itself through the car's exterior sensors. We can't have that in the hands of an American company.

HSBC will get what's coming to it too, all in good time.

 

[OBLiTeRate TrumpTurd]

PRC must forced TESLA to locate all its SERVERS Farms collecting Chinese consumers data in PRC own Data Center to be monitored 24x365 for every second.

 

[bolo]

Tesla's a national security threat. They gather all kinds of personal data on Chinese citizens through their cars. Not to mention data about China itself through the car's exterior sensors. We can't have that in the hands of an American company.

HSBC will get what's coming to it too, all in good time.

You have a valid point. Gathering data for theft or espionage is valid. For example, you find out that Mr. Wong and his family is going to Chime Long park on Aug 10th.
Well you don't care where he's going. all you care as a thief is that he's not home. And that's when you strike.

 

[Hamartia Antidote]

Tesla's a national security threat. They gather all kinds of personal data on Chinese citizens through their cars. Not to mention data about China itself through the car's exterior sensors. We can't have that in the hands of an American company.

HSBC will get what's coming to it too, all in good time.

They have a surveillance deal with the Chinese government
https://www.mercurynews.com/2018/11...se-government-without-their-owners-knowledge/
Tesla, other electric-car makers send data to Chinese government without their owners’ knowledge

 

[ZeEa5KPul]

They have a surveillance deal with the Chinese government
https://www.mercurynews.com/2018/11...se-government-without-their-owners-knowledge/
Tesla, other electric-car makers send data to Chinese government without their owners’ knowledge

Who else are they sending that data to? Tesla is a national security threat and should be dealt with the way America deals with national security threats.

 

[Hamartia Antidote]

Who else are they sending that data to? Tesla is a national security threat and should be dealt with the way America deals with national security threats.

Servers in China...run by Big Brother.

 

[Nan Yang]

Xpeng jump starts New York IPO, raising capital to expand in China and challenge Tesla in world’s largest electric vehicle market

• Xpeng makes US IPO filing public as it seeks to capitalise on rally in shares of electric carmakers
• Xpeng’s share sale follows in tracks of Chinese peer Li Auto’s debut on Nasdaq

Alison Tudor-Ackroyd

Situated in China’s southern city of Zhaoqing, Xpeng’s new factory touts 100 per cent automation for installation of car bodies at its welding workshops, with over 200 robotic arms. Photo: Handout

Xpeng Inc has applied to list its shares on the New York Stock Exchange, as it seeks capital to challenge Palo Alto-headquartered Tesla in China, the world’s largest market for electric vehicles.

The smart electric vehicle maker, which markets a sedan and a sports utility vehicle under the Xpeng Motors brand, filed confidentially for an IPO earlier this year and has now made its plan and financial statements public. The next step will be to start a marketing process to sell its American depositary shares, gather feedback from investors and analysts and establish a price range over the coming weeks.

Xpeng has chosen to list in New York even as US-China relations have deteriorated to the lowest point in decades, because the world’s largest capital market still has a far deeper pool of financial liquidity than China for start-ups, according to people familiar with the company’s thinking. As a US-listed entity, Xpeng would have to allow its audited books to be inspected by American regulators, or risk being expelled from US exchanges, under legislation passed in the US Senate.

Xpeng’s electric sedan, the P7. Photo: Handout

China’s electric car start-ups are tanking up on capital to fuel their fight for market share in the world’s largest car market.

Investors are keen to jump on the bandwagon after watching 17-year-old, California-based Tesla overtake
Toyota Motor, Volkswagen and Hyundai Motor this year in terms of combined market value to become the world’s most valuable carmaker.
“The recent rally in Tesla’s stock price has encouraged investors in China to continue to put money into this space,” said Mingchen Xia, co-head of Hamilton Lane’s Asian investments fund investment team.

Shares in New York-traded Nio, a Chinese vehicle maker that only produces electric cars, have more than doubled so far this year.

Li Auto’s shares have risen 61 per cent since their July 30 trading debut to US$18.50, from their offer price of US$11.50. Founded by serial entrepreneur Li Xiang, Li Auto is not directly comparable to pure electric vehicle maker Xpeng in that it makes so-called extended-range hybrid vehicles, where an internal combustion engine provides electrical power if the car’s battery runs down.

Xpeng’s fundraising comes after China’s passenger car sales rebounded recently from a sharp fall in the first quarter because of the coronavirus pandemic.

Image of the Xpeng P7. Photo: Handout

China’s government also boosted investors’ confidence by affirming its support for electric vehicle makers during the coronavirus crisis by extending subsidies for some models until 2022. By 2025, Beijing wants home-grown carmakers to command 80 per cent of the country’s electric vehicle market, according to its “Made in China 2025” industrial master plan.

“The development of this industry is still in its early stage, so a lot of government subsidies are needed, but once the market gains critical mass the cost of production will fall, and EV start-ups will make profits. Investors still believe in this, and that’s why the sector continues to win capital,” said Hamilton Lane’s Xia.

Faraday Future was once the flashiest electric car venture going after Tesla. Its founder filed for bankruptcy in the US last year.
“It is an exciting space and highly competitive – some companies will be successful, but not everyone,” said Hamilton Lane’s Xia.


Xpeng has raced past several milestones this year, including launching its second EV model, the P7 sports sedan in April. The P7 sports sedan is Xpeng’s second production model and has a driving range of about 706 kilometres (439 miles) on a single charge, the longest among electric vehicles sold in China. Xpeng started deliveries of the P7 last month.

The P7, premiered at the Shanghai Auto Show last April, retails at between 230,000 yuan (US$34,240) and about 350,000 yuan, nearly a third of the price of a Tesla Model S in China.

Xpeng also secured the production licence for its self-built, fully-owned factory in May in the Guangdong provincial city of Zhaoqing, one of the 11 urban centres in the Greater Bay Area plan.

Xpeng’s first production model, the G3 electric sport utility vehicle released in 2018, was previously assembled in the Henan provincial capital of Zhengzhou by contract manufacturer Haima Automobile, a subsidiary of state-owned carmaker FAW Group.

“Execution an d implementation are key. Entrepreneurs can’t just sell a dream to investors; they have to show they can build a factory, a supply chain and clear safety tests. That all requires a lot of capital and resources,” said Hamilton Lane’s Xia.

Xpeng’s P7 under construction. Photo: Handout

Founded in 2014 by entrepreneur and former Alibaba executive He Xiaopeng, the eponymous firm sells to the middle and high-end of the smart electric vehicle market in China and prides itself on building its software in-house, end-to-end. It uses the Nvidia high-performance chip Xavier and its P7 model is capable of Level 3 autonomous driving on highways, which the company plans to implement later this year or early next year after finalising testing. Alibaba Group Holding owns the South China Morning Post.

Smart electric car companies are increasingly cutting out dealerships and selling directly to the consumer, maintaining that relationship with upgrades over the air every one and a half months and responding to customer feedback. Xpeng can update its operating system over the air quickly without having to wait for suppliers to be compatible.

Xpeng, registered in China as Guangzhou Xiaopeng Motors Technology, has backers that include Hillhouse Capital, Sequoia Capital China as well as the sovereign wealth funds of Qatar and Abu Dhabi. The firm completed its US$900 million C and C+ funding rounds on August 3, led by Alibaba Group Holding.

Xpeng announced US$400 million of fresh capital in November when investors valued it at nearly US$4 billion.