Energy Weekly – BJEV listed, BYTON got the qualification of HUALI

Here is Energy Weekly report. We are committed to bringing together all hot topics and new launching vehicles in the new energy area.

Recently BAIC BJEV has officially had the stock “BAIC BLUEPARK” listed on the A-shares market, which was the first among the new energy vehicles. At the same time, the new auto manufacturer, BYTON, has accomplished the acquisition of FAW HUALI. Let’s have a look at it.

The latest news

1.     BAIC BJEC listed on the A-shares market, BAIC is speeding up in the new energy area

On September 27, BAIC BJEV officially went public with the code “BAIC BLUEPARK” on the A-shares market and became the first stock of the new energy vehicles. At the renaming ceremony, Xu Heyi, chairman of BAIC Group said, “The listing marks a major breakthrough after nine years’ effort to BAIC BJEV.

Editor: The independent listing of BAIC BJEV is an important part of the BAIC strategic distribution of the new energy popularization. Since there has been a comprehensive reduction in new energy subsidies, the production scale and the improvement of the R&D of new models have become the key to win in the post-subsidy time. By listing, it can meet the capital needs of BAIC BJEV R&D and production investment, and also can help BAIC BJEV to compete with the international auto manufacturers.

2.     BYTON acquired FAW HUALI at a price of RMB 1.00, but with more than 800 million debts

On September 28, FAW Xiali announced that FAW Xiali and BYTON signed the “Property Transaction Contract” and “Supplemental Agreement of the Property Rights Transaction Contract of Tianjin FAW Huali Automobile Co., Ltd., “. FAW XIALI transferred 100% equity of Tianjin FAW HUALI Automobile Co., Ltd., to BYTON. The price of the equity transfer is RMB 1 yuan.

Editor: the ownership of HUALI has been finally settled, and BYTON got the production qualification. However, behind the transfer price of 1 yuan, BYTON needs to bear more than 800 million yuan debts of FAW HUALI and some fixed assets which were repaid to Xiali. According to the disclosed information, BYTON completed the B-round financing of 500 million US dollars this year, with a total financing amount of more than 500 million US dollars. And the acquisition of FAW HUALI will also have some impact on the cash flow of BYTON.

3.     WELTMEISTER EX5 began the delivery and aims at 10k units of the delivery in 2018

On September 28, the first pure electric SUV of WM Motor- the production version of EX5 began to be delivered to users. At the same time, WM Motor announced that the first group of WM Master users will achieve the lifetime warranty of the vehicle, three systems (battery, motor and electronic control), and free data for all the purchased WM products. WM MASTER users enjoy a lifetime warranty of the household charging piles and a free update of new piles in the future, including charging piles and installation services.

Editor: At the WM EX5 delivery ceremony, WM MOTOR announced that it will realize 10k units of the delivery this year. Many new auto manufacturers have competed with the delivery. It’s obvious that WM tries to prove itself by announcing the goal of 10k units. However, the delivery schedule could be affected by the mode of C2M(Customer-to-Manufactory) that WM adopted in the mass production of WM EX5.

4.     Musk settled with the SEC, will step down as Tesla’s Chairman and pay $20 million penalty.

On September 30, Elon Musk, CEO and founder of Tesla, reached a settlement with the US Securities and Exchange Commission (SEC). According to the settlement, Musk will step down as Tesla’s Chairman in 4 days and will be ineligible to be reelected Chairman for three years, while Musk is still CEO of Tesla. And Tesla will appoint a total of two new independent directors to its board and establish a new committee of independent directors. In addition, Musk and Tesla will each pay a separate $20 million penalty.

Editor: Obviously, Musk has paid a price for his one self-willed tweet and that may be the most expensive tweet ever.

New products

1.     SYLPHY Zero Emission, subsidized price ranges from 159k-166k yuan

On September 25, Dongfeng Nissan SYLPHY Zero Emission was officially launched with two versions. The official price is RMB 243k-254k yuan and the subsidized price will be 159k-166k yuan. The appearance of the new car is basically the same as that of the gasoline car. The blue panel was added for decoration. In terms of power, the new model is equipped with a motor with a maximum power of 80kW and a peak torque of 254Nm. The battery capacity is 38kWh and the cruising range is up to 338km under comprehensive operating condition.

Editor: as a pure electric model which was launched earlier among the joint-venture brands, SYLPHY Zero Emission adopts the power system of LEAF. However, compared to pure electric vehicles of Chinese brands, SYLPHY Zero Emission has its inherent disadvantage in its cost performance.

2.     ROEWE Marvel X: subsidized price ranges from RMB 268.8k-308.8k yuan

On September 30, SAV Roewe's high-end intelligent electric SUV, Marvel X, was officially launched with 2 versions. The subsidized price ranges from 268,800-308,800 yuan. The appearance design of Marvel X is derived from Roewe Vision-E Concept Car which was released before and most of the design elements of the concept car have been kept. In terms of power, ROEWE Marvel X offers two different versions: rear-wheel drive version and 4-wheel drive version. The RWD version could speed up to 100km/h in 7.9s while the 4WD version only needs 4.8s. For the cruising range, the new model is equipped with a ternary lithium battery pack with a maximum range of 500km.

Editor: As one of traditional automobile manufacturers which produce the most radical Internet vehicles, after  Roewe RX5 brought in the Internet thinking, SAIC ROEWE finally integrated the Internet thinking with the service of Marvel X. In addition, as a traditional auto manufacturer, SAIC ROEWE also boasts the capacity of the large scale delivery that new auto manufacturers don't.