Energy Weekly- Release of Leading Ideal & QIZHI EV530 launched

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

The latest news

1.     Evergrande was in dispute with FF. Jia Yueting tried to kick Evergrande out.

On October 7, Evergrande Health (00708.HK) issued an announcement, stating that Jia Yueting had filed an arbitration with the Hong Kong International Arbitration Center, requesting the deprivation of Evergrande's consent right of financing and terminating all cooperation agreements. The reason was that Evergrande failed to pay $700 million dollar which was mentioned in the supplemental agreement. Evergrande believed that the payment has not met the relevant conditions. At the same time, Evergrande also issued that Jia Yueting manipulated the joint venture company owned by both parties with the right of the majority of the board seats. The dispute between Evergrande and Jia Yueting went public with the cooperation less than 4 months.

Editor: The dispute between Evergrande and FF is pretty normal for Jia Yueting. However, it’s easy to find that Evergrande has been trying to control FF at the very beginning based on the agreement of delivery in time and the name changing from FF China to Evergrande FF. This conflict could be considered as the counterback of Jia Yueting as well. From my point of view, it’s possible that Jia has already found the new boss since he chose to fight Evergrande back at this point.

2.  CHJ launched the brand “LEADING IDEAL”, the first model released on October 18.

On October 10, CHJ Auto launched the intelligent EV brand- Leading Ideal and announced that the first intelligent EV without the limit of cruising range, LEADING IDEAL ONE, would be released on October 18.

Leading Ideal One is a mid-large luxury SUV which adopts the extended range electric solution. Its comprehensive NEDC cruising range is more than 700km. It offers a zero-emission pure electric driving experience through multiple energy supply programs. Leading Ideal One is more than 5 meters in length and it has two versions of layout: 6-seat and 7-seat. It is also equipped with the Advanced Driver Assistance System of Level 2.5.

Editor: CHJ's brand is still kind of superior, but compared to the brand itself, i care more about its product- Leading Ideal One. As a rare EREV in China, the new model is pretty good at both the performance and the experience of pure electric vehicles. And it solves the users’ range anxiety through range extender at the most extent. In May, Regulations on Investment Management of the Automobile Industry(Draft for comment) issued by National Development and Reform Commission re-divided plug-in hybrid and extended range. EREV has been listed in the pure electric vehicle section. It also means that there will be more and more EREVs in the future.

3.     Changan invests 4.79 billion, the annual production capacity of 240,000 units.

Recently, IIA has learned from Jiangsu Environmental Protection Agency that Changan Automobile will establish a manufacturing base of new energy vehicles. It is expected to cover about 2,192 aces with 1,492 acres in the first phase.  The total investment amount is RMB 4.793bn yuan with RMB 3.47158bn yuan in the first stage. The new plant will be put into operation in 2020, with a total annual production capacity of 240,000 units. And the designed production capacity of the first stage is 120,000 units. According to the project, an all-new platform of pure electric vehicle will be put into production. Based on that platform, Changan Automobile will launch various new models including sedan, SUV and MPV etc.

Editor: Changan Automobile released a new strategy of new energy – “Shangri-la” project and announced that it would invest RMB 100bn yuan in the area of new energy vehicles. The manufacturing base in Nanjing will be the keystone of the project and the C601 platform may be a high-end pure electric platform of Changan Automobile, which will provide a solid product foundation for Changan’s new mid-to-high-end brands.

New products

1.     HANTENG X7 PHEV: RMB 187.8k-207.8k yuan after subsidies

The new HANTENG X7 PHEV has 3 different kinds of configurations, with the guided price range of 229.8k-249.8k yuan. The price range after subsidies is 187.8k-207.8k yuan. In additional, the appearance of the new model is basically the same as that of the old one. In terms of power, it is equipped with a 1.8T turbocharged engine, a front assisting motor and a rear-drive motor, and matched with a 6-speed dual-clutch gearbox. In terms of configuration, the whole family is equipped with the traction control, vehicle stability control and hill descent control.

Editor: the price of the new HANTENG X7 PHEV has dropped nearly 10k yuan in terms of price, compared with the old model. However, its upgraded configuration made the new model become more competitive in the market of compact SUV PHEV.

2.     GAC MITSUBISHI QIZHI EV

QIZHI EV is a small pure electric SUV of GAC MITSUISHI. It has launched 2 models. The price range after subsidies is RMB 135.8k-139.8k yuan. The new model is equipped with a power system consisting of a permanent magnet synchronous motor and the battery pack which adopts the newest cell technology. The maximum speed can reach 156km/h. In addition, the cruising range at the speed of 60km/h is 530km. and in a comprehensive working condition, the range is 410km. In the fast charging mode, it takes 30 minutes to charge 80%. And the slow charging mode takes 8 hours.