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Tesla’s competitor NIO, Lixiang, X-Peng’s grow quickly in China

Large  Small Date:2020-09-04  From:ICC
Note: Chinese NEV market is gradually warming quickly since July, in which auto participants are accelerating their paces. Compared with Tesla, some Chinese middle-high end OEMs like NIO, Lixiang and X-Peng still lag behind. Nevertheless, they have been steadil
ICC: Chinese NEV market is gradually warming quickly since July, in which auto participants are accelerating their paces. Compared with Tesla, some Chinese middle-high end OEMs like NIO, Lixiang and X-Peng still lag behind. Nevertheless, they have been steadily growing in Chinese NEV market.



Some representing vehicles models include Model3, NIO ES6, Lixiang One and X-Peng P7. Their overall performances are quite close Model 3, with relatively high battery pack energy density, long endurance mileage and similar price. Currently except Tesla, other OEMs’ main battery supplier is CATL. According to ICCSINO, CATL has developed some new high voltage NCM 5 series batteries in 2020, which have been installed on some vehicles from Geely, SAIC etc. Compared with high nickel batteries, high voltage NCM 523 batteries are more cost efficient and safe. According to ICCSINO database, NCM811 cathode is 40% more expensive than NCM 523 cathode. Since Chinese new energy vehicle market was comparatively weakening this year. Cost reduction became more important for automakers and battery enterprises. Furthermore, high voltage NCM 523 batteries overall performance very closing to high nickel with technology improves. Therefore, in China this year, high nickel development seems to be lower than expectation, whose market share has been influences by NCM 523 batteries.  


 
 
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