Electric vehicles

[EvaDK]

Turns out there are a lot of people who don't want to buy cars from a company whose CEO makes Nazi salutes.

Also, Tesla is facing stiff competition today around the World.
To add, Tesla is completely absent from one of the most exciting market segments in Europe right now; EVs in the €20-35,000 range.

 

[Ordnael]

We interviewed the CEO of Chinese Tesla. “If I could, I would change several decisions at NIO”​

Entrevistámos o CEO da Tesla chinesa. "Se pudesse alterava várias decisões na NIO"

As ambições são muitas mas as dificuldades têm sido maiores. Entrevistámos William Li, CEO da NIO, uma das marcas chinesas mais disruptivas.

www.razaoautomovel.com

The ambitions are many, but the difficulties have been even greater. We interviewed William Li, CEO of NIO, one of the most disruptive Chinese brands of the last decade.


07.03.2025, 18:18

NIO's growing pains continue. Considered since its founding in 2014 as the “Chinese Tesla” due to its disruptive business model (battery swapping), focus on 100% electric vehicles and autonomous driving systems, this brand has undergone several fluctuations over the last few years.

In China, for example, sales have been progressing slowly and in Europe they are in need of a strong push. A push that already has a name: Onvo and Firefly . Two brands whose objective is to increase sales of this Chinese manufacturer.

When I founded NIO, China was experiencing a period of exponential economic growth and we hardly needed the overseas market.

William Li, CEO of NIO

We interviewed William Li, CEO and founder of NIO, who told us about the brand's plans for different markets and the possibilities of building factories in Europe. For now, the plan is less ambitious: to put the accounts in the “green” by 2026. The automotive industry is changing and NIO is trying to keep up with this change without “losing the way”.

© NINEA technology and mobility entrepreneur, before founding NIO, William Li gained experience at Bitauto, one of the largest online automotive service platforms in China.
Founded NIO in 2014. What has changed in the world in the last decade?

William Li: It has changed immensely. Relations between countries and global business were closer. When I founded NIO, China was experiencing a period of exponential economic growth and we hardly needed the external market, but today, macroeconomics has a much greater impact on the company and this was knowledge that we did not have at the time (just as Chinese entrepreneurs of my generation did not have) and that we have acquired.
When we went public in 2018, we fell short of our expectations as we were unable to secure sufficient funding in the US, leaving us in a difficult situation in 2019, from which we were only able to emerge thanks to enormous resilience.

© NINE NIO ET5. The model that aims to rival the Tesla Model 3.
We want to become a global company, serve more users and community, invest in R&D (research and development) and nurture our ecosystem, which consists of product, technology, service and community.
Our direction has not changed, but when it comes to the action plan, there is much room for improvement, with the absolute need to adapt more quickly to deal with external changes, especially market ups and downs. And, above all, avoid constant changes in strategy, otherwise we will lose our way.

The NIO community in China is impressive, and in Europe they are just taking their first steps. How can they aspire to be truly global without a presence in the United States?

WL: From the beginning, we have had an R&D department in San Jose, California, where almost 200 people currently work. The North American market is very lucrative and will always be on our horizon, but there are many political and legal implications. At the moment, our focus is on succeeding in the Chinese market and only if we do so will we be able to move towards a global dimension. Something that shouldn't happen before 2028.


After a launch phase with promising expectations, the current situation is not so positive, with commercial results below expectations. In addition to expecting an increase in sales, does NIO have plans to reduce costs?

WL: Between 2022 and 2024 we will launch our second product cycle, vehicles that came to replace those from the first cycle, in which we made some mistakes, which is normal considering that we are a new brand and a new car manufacturer. We learn from them. But we were also hit by unexpected external issues, such as the rising price of lithium and the impact of the pandemic.
Now, with the arrival of the ET9 and the new Onvo and Firefly brands, optimism is back in our company, especially since free cash flow was positive in the second half of 2024. We are confident that we will be able to double our sales in 2025 and become a profitable company in 2026.

If you could go back three years in time, what decision would you change?

WL: If I could, I would change several decisions at NIO. The most important, perhaps, would be the way we implemented the network of battery exchange stations, a process that should have been more dynamic and more intensive, so that the lack of this fundamental infrastructure never had a negative impact on sales.

© NINEPictured is one of NIO's battery swapping stations in Europe.
We are accelerating the expansion of this network, and by the end of 2026, most districts in China will have at least one battery swapping station (two years behind schedule, in my opinion).

NIO has announced a cooperation with CATL for battery swapping services. How will this agreement work and how will it develop its network of battery swapping stations in Europe?

WL: CATL has been investing in the battery exchange sector for several years and, realizing its enormous potential, has recently increased its investment. In China, this infrastructure is increasingly widespread. We have the capacity to install 200 battery exchange stations per month, which will be 2,000 more throughout 2025.
In Europe, the network rollout is slower, especially in the case of NIO, while Firefly stations will be much simpler and faster to install. We already have an assembly plant for battery replacement stations up and running in Hungary.

Will it be possible to make battery exchange stations profitable by partnering with other electric car manufacturers?

WL: We started investing in the grid in 2018, but for other electric car manufacturers it is a decision that requires a lot of consideration, given that it involves changing the batteries. We are in discussions with other manufacturers to make this happen, but it is something that presupposes changes in technology and business models.
When we look at cloud services — whether Google, Microsoft, Amazon, Tencent, Alicloud, or ByteDance — we see that the service always starts with the growth of its own capacity and only then gradually opens up to third parties, until it becomes an independent business. I think something similar will happen in the area of battery replacement.

There seem to have been problems with the availability of BYD batteries, which affected Onvo's production and which would be compensated with more batteries from another supplier, CATL. Does this jeopardize your goal of manufacturing 20,000 Onvo L60s by March?

WL: Our production plan for Onvo at the Hefei plant has always been to use only BYD 60 kWh batteries by the end of October, and from November onwards we would have enough CATL 85 kWh batteries.
Since the beginning of December, we have had three battery suppliers and this issue has been overcome. We delivered 10,000 Onvos between October and November, 10,000 in December and we will reach those 20,000 next March.

It is well known that Europe and its market of four million compact cars per year were a «target» for his company. What changed with the imposition of tariffs?

WL: Tariffs affect our business plan, yes, because they crush profit margins. But I still think that Firefly will be competitive, as it is preparing to launch intelligent electric models with very modern technology, which ends up being the showcase of a decade of our investments in R&D, which makes us very confident.
In the first half of this year, we will enter several markets, with selected partners in each country, who will be responsible for sales and services locally.

Is producing locally in Europe a solution to get around the tariffs implemented on “made in China” vehicles?

WL: It's something we have to live with and it even hurts European consumers, who no longer have as many options to choose from. If our sales in Europe reach a significant volume, building the cars locally makes sense, both in terms of tariffs and in terms of reducing costs and transport times.
In China, it only takes two to three weeks from the moment a vehicle is pre-ordered to its delivery to the customer, and this reduced time allows us to work with very small stocks.
When we manage to sell around 100,000 cars in a year in a given region, we have the ideal economic model to start local production. It is difficult for NIO to achieve this number in Europe because it is a high-priced brand, but with the launch of the new Onvo and Firefly brands, the scenario changes quite a bit.

Design is always one of the highlights of NIO models, but now the Firefly has front headlights that are causing a lot of discussion and displeasing many potential customers. Is it possible to change them?

WL: We are aware of this discussion and knew they would cause controversy from the day we approved them with the style department. It’s not easy to achieve a striking design in a small car, but that’s what we want with the Firefly philosophy: “Bright, Solid, Thoughtful.”

© FireflyThe first model from NIO's new brand: the Firefly.
Some people like it, others don't, but the most important thing is that it is in line with the values we want to create for the brand.

After the first experience of driving an Onvo, the idea remains that it could be a model from the NIO brand, so positive was the impression left. How will the differentiation between Onvo and NIO be made?

WL: An Onvo will be more affordable, yes, but it will still have a lot of quality. In terms of driver assistance systems (ADAS), just to give an example, the Onvo will not have the most advanced LiDAR, but rather a purely visual system and, therefore, with simpler technological support.



On the other hand, when we look at Onvo's first sales data in China, we see that only 2% of customers exchanged a NIO for an Onvo, with the acquisition rate being much higher when we consider Tesla .


A growing number of Chinese manufacturers are stepping up development of semiconductor chips, something that requires a lot of know-how and resources. What does this mean for the future? Are there still problems in the popularization of China's semiconductors?

WL: Chip development is, above all, a business decision. We are Nvidia's largest autonomous driving chip customer (200,000 NIOs are equipped with four autonomous driving chips each, which represents a huge investment).
From a financial perspective, we are using the R&D investment to eliminate part of this cost in the future and also for our company to acquire this fundamental technological know-how .
Defining chips based on our intelligent driving algorithms and models and adapting them to our specific needs can significantly change their performance, as evidenced by the fact that our technology is already ahead of what exists on the market.

© OnvoThe L60 is the first model from the new Onvo brand.
This supremacy is crucial to the performance of autonomous driving systems and, consequently, this approach not only increases our gross margins but also improves the user experience.
Furthermore, we observe that chips are increasingly entangled in political issues. From a supply chain risk management perspective, it is essential to handle this situation prudently. However, we must consider commercial viability, from a business perspective.
If a chip produced in China has poor quality at a high cost, it is no longer viable because the quality-cost ratio is unacceptable. Vice versa, if the chip is of high quality and reasonably priced, we would certainly consider using it.

Will NIO fully assume the status of “Chinese Tesla”?

WL: If you look at the numbers, Tesla's Model S and Model X are selling very poorly in China, where the focus is more on the Model Y and Model 3. Tesla's massification has really happened with the more affordable cars. With the arrival of our Onvo L60 (direct competitor of the Y) we will surely become direct rivals.

European Commission has a plan to make electric vehicles more affordable​

https://www.razaoautomovel.com/noticias/mercado-plano-de-acao-comissao-europeia-eletricos-2025/

The European Commission's (EC) Action Plan to save the automobile industry focuses mainly on electric vehicles.

In addition to wanting to bring battery production to Europe and reduce dependence on external suppliers and improve the competitiveness of European electric vehicles compared to Chinese ones, the EC wants, above all, to ensure that many more electric vehicles are purchased.

This is because selling more electric vehicles is the only viable solution to achieve the CO2 emissions targets imposed by the European Union itself. And as we saw in 2024, sales fell instead of rising .
To reverse the trend in sales, the European Commission has included several proposals in its Action Plan for the automotive industry. The intended result is to make electric cars more accessible, also recognizing their higher price compared to combustion cars.

The main proposals relate to harmonising and improving incentive schemes. To this end, from the beginning of next year, the Commission intends to work with all Member States to exchange best practices and lessons learned from previous incentive programmes, including tax incentives.
A working plan will then be proposed to develop new strategic incentives that are economically efficient, fiscally sustainable and adapted to the maturity of the markets in question. Potential sources of financing that Member States could use to support these incentives will also be identified together.

In parallel, an incentive programme will also be created for companies, which currently account for 60% of new vehicle registrations in the EU . The idea is to accelerate the electrification of these fleets, eliminating tax benefits for combustion vehicles and favouring electric ones.
Another initiative refers to social leasing , aimed at consumers with fewer resources, applying not only to new but also pre-owned electric vehicles. A similar initiative has already been implemented in France, where it was possible to lease an electric car for amounts not exceeding 150 euros per month.

Beyond cars​

In addition to wanting more accessible trams, the European Commission also proposes measures regarding the charging infrastructure, which, despite growing, remains deficient. To expand the public charging network, the EC will invest 570 million euros.

In addition, the Commission also intends to support Member States in implementing smart and bidirectional charging technologies. This could open up the possibility for consumers to sell their cars' electricity back to the grid.
Another proposal, aimed at increasing consumer confidence levels, involves providing consumers with better information about the electric vehicle itself. One way of doing this would be, for example, by including information on the carbon content of the main materials used in the vehicle.

Finally, data collected by the European Commission reveals that, depending on the country, between 75% and 90% of consumers only buy second-hand vehicles. To ensure that this type of consumer is also as well informed as possible about the car they intend to buy, the EC will regulate access to data on the condition, repair and maintenance of batteries.

 

[Thorgalaeg]

Thought Chinese Tesla was BYD (well, BYD is quite larger than Tesla but still)

 

[Samson]

[A brand new Fisker Ocean] sold for £13,683.00, 22.5% of new price.

That was October. There are now a load of these coming off boats that did not get their paperwork done. The two this week are typical, and I would expect them to go for between £5k and £10k.

 

[Ordnael]

You buy a second-hand Tesla Model S, and its previous owner controls it remotely for 10 days. This was his revenge​

(auto translate edge)

Compra un Tesla Model S de segunda mano, y su anterior dueño lo controla de forma remota durante 10 días. Esta fue su venganza | forococheselectricos

¿Te imaginas comprar un coche de segunda mano y que su anterior dueño se dedique a controlar las funciones remotas del coche?

forococheselectricos.com

Can you imagine buying a second-hand car and having its previous owner control its remote functions to make your life impossible? That's what happened to a Reddit user with his used Tesla Model S.
The automotive industry continues to move towards the electric, autonomous and connected car. The new generation of vehicles increasingly include digital services, advanced driving assistants and intelligent functions that seek to make the user experience simpler and more convenient.

One of the increasingly widespread features is remote functions: through an app, many manufacturers allow electric car drivers to check the charging status or pre-condition the cabin and battery. In some cases, parking or unparking is even allowed remotely.
These remote functions are associated with the car owner's account. But what would happen if you buy a second-hand vehicle and its previous owner still has access to them? This is what has happened to Reddit user Vladdroid, who recently acquired a used Tesla Model S.

"I'm new to Tesla. I bought a Tesla Model S. It has free supercharging... Two days later, it appears that the previous owner put it in Valet mode [valet mode, limits certain functions]. And it still puts the air conditioning on full blast (it's now 15°C outside) when I park it. Apparently, they never unlinked the car, and I didn't know that existed. And now he's been bothering me for 5 days. It puts the air conditioning on full blast while turning on the heated seats, unlocks it, keeps it in Valet mode, lowers the speed limit to 80 km/h and closes the trunk/glove compartment."

A nightmare worthy of Black Mirror​

Until the documentation needed to transfer the vehicle was processed, Tesla couldn't do anything about it. Since the Model S was still tied to the previous account, the new owner decided to take revenge in style: he went to a Supercharger and set the charge limit at 51%. The moment the vehicle stopped charging, the idle charges began to pile up. After doing so for four days, the penalty amounted to $250.

Meanwhile, the previous owner tried to open the trunk, operate the sunroof, or honk the horn for 30 minutes, but our protagonist simply removed the horn fuse and trunk relay. After 4558 attempts he guessed the code to disable Valet mode, at which point he was able to access the car's navigation history... and to the address of the original owner.

After several Google searches, he sent a message warning that either the harassment stopped, or charges would continue to accumulate on the Superchargers. Quickly, the car was released, and that same day the change of ownership arrived by mail.

 

[Samson]

Burning cargo ship carrying 3,000 vehicles abandoned off Alaska

The crew of a cargo ship carrying around 3,000 vehicles, including 800 electric vehicles, abandoned it off the coast of Alaska after a fire broke out onboard, its operator Zodiac Maritime said on Wednesday.

The 22 crew members were safely evacuated from the ship after they failed to put out the fire, Zodiac said as it focuses on salvaging the vessel.

They were evacuated via lifeboat and were being transferred to a nearby merchant vessel in tandem with the U.S. Coast Guard.

The vessel, Morning Midas, was located 300 miles (482.8 km) southwest of Adak in Alaska, the Coast Guard said on its X account.

The Liberia-flagged ship left China's Yantai port on May 26 and was on the way to Lazaro Cardenas, Mexico, according to LSEG data.

 

[Ordnael]

The future is a brand new car sitting idle and suddenly catching on fire!

 

[Samson]

Why carmakers need to bring back buttons (avoiding paywall)

A 2005 Volvo with traditional physical buttons allowed drivers to complete basic tasks in just 10 seconds, less than one-quarter of the time it took in modern touchscreen-equipped cars, where simple tasks took up to 44.6 seconds to complete, according to a Swedish road test by Vi Bilägare. A study by the Transport Research Laboratory found that using in-car touchscreens can impair driver reaction times more than being over the legal alcohol limit or under the influence of cannabis.

 

[Thorgalaeg]

Yep, that is obvious, not any study was needed. Problem is today building a cockpit with a single big touchscreen is cheaper than a traditional buttoned cockpit. People think they are getting the most technological cool thing but in fact it is the cheapest.

 

[Bestbank Tiger]

Yep, that is obvious, not any study was needed. Problem is today building a cockpit with a single big touchscreen is cheaper than a traditional buttoned cockpit. People think they are getting the most technological cool thing but in fact it is the cheapest.

Interesting. I would have expected the opposite.

So what's the excuse for the cost of a new vehicle being so ridiculous?

 

[Manfred Belheim]

You buy a second-hand Tesla Model S, and its previous owner controls it remotely for 10 days. This was his revenge​

(auto translate edge)

Compra un Tesla Model S de segunda mano, y su anterior dueño lo controla de forma remota durante 10 días. Esta fue su venganza | forococheselectricos

¿Te imaginas comprar un coche de segunda mano y que su anterior dueño se dedique a controlar las funciones remotas del coche?

forococheselectricos.com

I'm confused about what the "revenge" was for? For giving him money for his car?

 

[EnglishEdward]

In most jurisdictions maliciously interfering with someone else's vehicle is a crime, the police ought to have arrested him.

 

[Manfred Belheim]

I just can't understand why you would ever be able to remotely operate the horn or glove box! That's just completely insane.

 

[Thorgalaeg]

Interesting. I would have expected the opposite.

So what's the excuse for the cost of a new vehicle being so ridiculous?

Maybe 20 years ago but today you can find tablets from 100€ due to mass production. The car company only needs to buy a few thousand general purpose touchscreens for a few bucks each, personalize them with the company's logo and install the software. OTOH to make a buttoned cockpit they need a group of engineers to design it, manufacture a bunch of additional specific pieces, a more extensive wiring, etc.

About the price of new vehicles, cars today are incredibly complex, In fact they are relatively 'cheap' considering the amount of pieces, software and engineering a modern car packs. Hybrid cars specially are way more complicated than normal gasoline cars, have many more pieces, batteries, energy recovery system, complex automatic gearboxes and who knows. I'm an amateur mechanical and can understand (more or less) what each part of a 20-year-old gasoline car does, and I can fix most of the breakdowns myself. But when I open the hood of a modern hybrid, I'm shocked I don't understand half the things I find there. Plus, the number of parts is mind-boggling. There's not even room to fit a screwdriver in there. I would say the client get a lot of things he doesn't really need at all. Then add inflation, taxation, regulations, etc

 

[Bestbank Tiger]

I would say the client get a lot of things he doesn't really need at all

I feel the same way.

I guess it's just that the touchscreen consoles aren't part of the problem.

 

[Ordnael]

Interesting article. Maybe "great" brands like BYD are at serious risk...if I was in the market for a BYD I would think thrice before pulling the trigger after reading this!
(auto translation)

Price war shakes the financial foundations of China's electric car industry​

https://forococheselectricos.com/noticias/guerra-precios-riesgo-industria-coche-electrico-en-china-20250712-37677.html

Price war shakes the financial foundations of China's electric car industry​

The price war in the Chinese electric car market is generating dangerous financial tension. Companies like BYD drag on strong operating deficits and debts to suppliers keep growing. Only a few brands can resist if the new legal payment deadlines are met.

Published: 12/07/2025 09:12
Pressure from the price war shaking China's automotive sector has triggered all alarms between manufacturers, suppliers and authorities. On 9 July, the Ministry of Industry and Information Technology enabled a new surveillance tool: a platform where suppliers can publicly denounce car brands that fail to comply with the 60-day legal payment deadline, established by the government to protect small and medium-sized enterprises. This is an attempt to curb abusive practices such as artificial lengthening of payment deadlines, the use of alternative financial instruments rather than cash, or linking payments to third parties.

This initiative comes at a time when the balance sheets of large car groups show worrying signs. By the end of 2024, more than a third of China's leading brands presented liquidity problems or that their liquidity is poor, i.e. their short-term debts exceeded their liquid assets. In this scenario, BYD stands out, whose operational deficit is not new: as early as 2022 it entered red numbers, and since then its financial gap has only widened. At the end of 2024, its operational deficit reached 14.9 billion euros, and where debts to suppliers exceed 50% of its total assets. Meanwhile, other actors such as Geely, NIO, Seres, BAIC or JAC all added a joint deficit of 17.8 billion euros.

The combination of low prices, reduced margins and the need to maintain large-scale operations has forced many brands to turn payment deadlines into a hidden financing tool. This can generate the illusion of good financial health, when the problem is actually moving to the weakest link in the chain: suppliers. This structural fragility threatens to generate a domino effect throughout the supply chain if payment commitments are not met. Although some major brands, such as GAC or BAIC, have improved their deadlines, the reality is that only a few companies, such as BYD, Li Auto, XPeng, Leapmotor and Changan, have enough net liquidity to assume 60-day payments without compromising their daily operation.

Benefits in free fall and an ecosystem trapped in chronic deflation​

The real origin of this imbalance lies in the intense price war that has intensified over the past two years. According to data from analyst Cui Dongshu, the average car profit in China has risen from more than 20,000 yuan per unit in 2021, to 17,000 in 2023, 15,000 in 2024, and only 13,000 yuan in the first quarter of 2025. The profit margin of the whole sector is already only around 4%, a historically low level that calls into question the viability of the current competition model.

This context is not exclusive to the automotive sector. The producer price index (PPI) in China accumulates 32 consecutive months in negative, the longest period of deflation since records. The GDP deflator index has also been negative for eight consecutive quarters, something unprecedented since the reform and economic opening. It is a situation that affects the whole industry, but in the case of the car, it is aggravated by the very high costs of production, technological development and the need for constant investment in electrification, software and autonomous driving.

The risk is obvious: if large brands take advantage of their scale advantage and dominate the value chain without ensuring ecosystem balance, they will end up undermining the viability of smaller suppliers, distributors and competitors. The fear is that this benefit-free prosperity will only be sustainable in the short term. The desired market restructuring is progressing slowly, and many companies without financial muscle continue to survive thanks to flexible payment policies or indirect support from large groups. But if the sector doesn't adjust its model soon, the market clean-up is likely to come suddenly... and not in an orderly way.

 

[Ordnael]

China EV brands Zeekr, Neta inflated car sales using insurance scheme​

https://www.reuters.com/business/autos-transportation/china-ev-brands-zeekr-neta-inflated-car-sales-using-insurance-scheme-2025-07-20/

• Neta inflated sales of over 60,000 cars between Jan 2023-March 2024-documents
• Scheme enabled companies to book sales early to meet aggressive targets
• China's auto industry has been roiled by cutthroat competition, prompting regulatory concern

July 20 (Reuters) - Chinese electric vehicle brands Neta and Zeekr inflated sales in recent years to hit aggressive targets, with Neta doing so for more than 60,000 cars, according to documents reviewed by Reuters and interviews with dealers and buyers.
The companies arranged for cars to be insured before they were sold to buyers, the documents show, enabling them under Chinese industry car registration practices to book sales early so they could hit the monthly and quarterly targets, the dealers and buyers said.

Neta booked early sales of at least 64,719 cars through this method from January 2023 to March 2024, according to copies of records it sent to dealers, seen by Reuters. That was more than half the sales of 117,000 vehicles it reported over the 15 months. Neta's effort to book sales early has not been previously reported.
Zeekr, a premium EV brand owned by Geely, used the same method to book early sales in late 2024 in the southern city of Xiamen through its main dealer there, state-owned Xiamen C&D Automobile, according to dealers, buyers and sales receipts seen by Reuters.
Shares of Geely Auto, which is taking Zeekr private, fell as much as 4% in Hong Kong on Monday, on course for their biggest one-day drop since June 26.

Analysts and investors tracking China’s auto industry gauge performance and estimate inventory levels with two sets of sales data. Wholesale numbers reported by automakers to the industry association show sales from automakers to dealers, while retail data compiled from registration records of mandatory traffic insurance show the sales to users.
Vehicles booked as sold before reaching a buyer are called "zero-mileage used cars" in the Chinese auto industry. The practice has emerged out of cutthroat competition for sales in the world's largest auto market, which is reeling from a brutal, years-long price war caused by chronic overcapacity.
The industry faces a moment of reckoning, with state media calling out the zero-mileage car practice, China's cabinet pledging to regulate "irrational" competition, and other central government bodies organising meetings with the industry's largest players to express concern about such methods.

On Saturday, Auto Review, a publication run by the China Association of Auto Manufacturers, reported that the industry ministry was planning to clamp down on the practice by banning cars from being resold within six months of being registered as a sale.
Auto Review said in a statement to Reuters on Monday that its report "contained inaccurate descriptions related to the Ministry of Industry and Information Technology (MIIT) and other relevant authorities concerning zero-mileage used cars," adding that these parts had been deleted from the original story.

STATE MEDIA FOCUS​

Also on Saturday, Chinese state media reported that Zeekr had been selling cars with insurance already purchased to inflate sales, the first such naming of a specific automaker in a sign that Chinese authorities are getting more serious about the crackdown.
In a front-page story, the China Securities Journal newspaper, one of China's most important government-owned financial publications, interviewed Zeekr car buyers in cities such as Guangzhou and Chongqing, who the newspaper said had found that their cars already had insurance policies before they were sold.
They said they were refused refunds, even though they felt they were deceived.
The newspaper questioned Zeekr's unusually high sales in the cities of Shenzhen and Xiamen in December. Its reported sales based off insurance registration records in Xiamen surged to 2,737 that month, more than 14 times its monthly average.
The China Securities Journal also raised questions over Neta's sales, saying it showed anomalies. Reuters is reporting for the first time details of how Neta inflated sales.
Zhejiang Hozon New Energy Automobile, which owns Neta, and Xiamen C&D did not respond to requests for comment on Saturday. A spokesperson for Geely said, "Geely firmly rejects the report put forward by the China Securities Journal." The spokesperson declined to comment on Reuters findings or provide further details.
Zeekr said on Sunday on its account on Chinese social media platform Weibo that the vehicles mentioned in the media reports were for showroom display. It confirmed that the cars had been insured with mandatory traffic insurance, saying that it was for ensuring safety while being exhibited, and that they were still legally new when sold to buyers.
It did not directly answer Reuters' questions on whether it had counted them as retail sales. However, its Weibo statement said it had also set up a special team to investigate the sales issues raised in the media reports, without going into further details.
Li Yanwei, an analyst with the China Automobile Dealers Association, said on Weibo on Saturday that he believed Zeekr and Neta carried out such practices to embellish their financial reports and achieve their performance goals.
"This way of whitewashing performance is not advisable," he said.

PRESSURE ON DEALERS​

Last month the state-owned People's Daily, which often presents the views of China's ruling Communist Party, published an editorial condemning the sale of zero-mileage used cars domestically and listing a litany of harms the practice brings upon the industry and buyers.
This month four dealer associations based in the wealthy Yangtze River Delta urged automakers to set them more reasonable sales targets and incentive policies, saying, without providing details, that dealers were being forced to falsify sales.
Neta booked sales early by arranging insurance policies for cars before sending them to dealers, according to records shared with Reuters and a dealer for the brand.
The records contain details for each car and the insurance policies purchased on them, with the names of the insurance agents. Dealers were able to refer to these when they found a buyer to transfer the policy to, according to copies seen by Reuters. The company booked early sales of 64,719 cars this way.
"In Neta's case, the company made it clear to dealers that the cars were insured ahead of time and therefore counted as sold," said the dealer, who spoke on condition of anonymity, citing fears of retaliation from the company.
"We had to explain to buyers that the traffic insurance was complementary and remind them it would expire earlier and should be renewed on time," he said.
But three Neta buyers, who asked not to be named, told Reuters the dealerships had not told them the policies had begun well before the purchase date, only finding out when the policies expired.
The dealer said Neta started doing this in late 2022 to obtain EV subsidies that were set to end that year.
Neta's sales peaked in 2022 when it was ranked as the eighth-largest maker of new EVs in China with sales of 152,000 vehicles. Sales fell last year to 87,948 vehicles, including 23,399 exported, and it sold 1,215 cars in the first quarter of 2025, according to data from the China Association of Automobile Manufacturers.
The brand has been in financial trouble since late 2024, and its owner, Zhejiang Hozon New Energy Automobile, entered bankruptcy proceedings in China last month, according to state media.

'JUST DO IT'​

Zeekr, which is being privatised by Geely Auto 0175.HK, booked sales with the help of Xiamen C&D, which runs dealerships for Zeekr and other brands.
Xiamen C&D registered the vehicles' insurance policies under the names of two subsidiaries in December, allowing Zeekr to count the sales before year-end, according to four dealers and two buyers, as well as a receipt shared with Reuters.
Zeekr dealers sold some of the cars in subsequent months to buyers in other cities such as Beijing and Chongqing, the sources said.
"The Zeekr salesman said the car would be 3,000 yuan ($420) less than a car I would get from the store and I would also get a charging coupon worth 10,000 yuan," said a buyer in another southern city. He declined to be named, citing concerns of retaliation from the automaker.
The China Securities Journal reported that most of the owners it spoke to said their cars were insured by Xiamen C&D and its affiliates.
Reuters could not determine how much of Zeekr's Xiamen sales in December were booked early.
China Automobile Dealers Association data showed that 2,508 of the 2,737 sales Zeekr booked in Xiamen in December were sold to companies, while 257 went to individual buyers.
But data published by Xiamen's vehicle administration bureau showed just 271 cars registered in December for license plates, which genuine buyers generally obtain once they receive their cars.
The Neta dealer said many of the zero-mileage used cars he received from the company remained in his warehouse, unsold. The company "only had one message: Just do it, everyone else is doing it".

 

[Ordnael]

Fed up with the breakdowns with his Volvo EX90, a driver creates a website to report them.​

Harto de los fallos con su Volvo EX90, un conductor crea una página web para denunciarlo

El Volvo EX90 ha llegado al mercado con muy mal pie. Ya no es solo la denuncia pública de Consumer Reports, ahora un conductor canadiense relata su «pesadilla» con el SUV sueco eléctrico, hasta el punto que ha creado una página web donde explica su historia.

forococheselectricos.com

(auto translate)

The Volvo EX90 has hit the market on a very bad note. It's not just Consumer Reports' public denunciation; now a Canadian driver is recounting his "nightmare" with the Swedish electric SUV, so much so that he's even created a website to explain his story.

A driver curiously reports the ongoing software issues with his Volvo EX90. Photo: MyVolvoEX90.com


Updated: 07/23/2025 07:37
Billed as Volvo's new electric flagship and the new standard-bearer for the Swedish brand's range, the EX90 doesn't seem to have landed quite right. This is a striking case, because we're talking about one of the most reputable brands in terms of technology and safety, but recent complaints surrounding the large Swedish electric SUV are leaving its image somewhat in tatters.

A few days ago, we told you about the worrying analysis carried out by Consumer Reports , which reported, as it turns out, a large number of problems with the purchased unit . For example, in its first 1,000 kilometers, it had to go to the workshop twice: the EX90 suffered from several serious faults and functions that weren't even activated at the time of sale. This is inappropriate for a car of these characteristics, which in Spain sells for over €100,000 .

Some of the problems this Canadian driver experienced with the EX90. Photo: MyVolvoEX90.com
Once again, we have to go across the pond to tell you about a personal story: that of a driver, Vicken Kanadjian, who is experiencing a true "personal nightmare" with the Volvo EX90 he bought last March in Canada. This driver began experiencing problems after only three days in the garage. Imagine buying a vehicle for that amount of money and finding that it doesn't detect any of the digital keys, the screen doesn't turn on, you can't lock the vehicle, the air conditioning controls don't work, or the accelerator stops responding.

This is a summary of everything that happened to Kanadjian with his Volvo EX90 over the years, and he regrets having gotten rid of his previous XC90. Tired of the problems and the few solutions offered by the brand and the dealership, this driver has created a website ( MyVolvoEX90.com ) specifically to share all the problems with his car and express his desperation over a situation that seems to have no solution.

Some of the problems this Canadian driver experienced with the EX90. Photo: MyVolvoEX90.com
Now, he's working on a lawsuit against Volvo in Canada and the dealership that sold him the vehicle. The EX90 has been experiencing persistent software issues, despite several repair visits and updates. Consumer Reports is not without reason to call the Swedish electric SUV "unfinished." Kanadjian was even told by the manufacturer that his vehicle was unsafe to drive after he left it stranded on a highway without being able to accelerate.


The latest news in this case hasn't been positive for our protagonist. His lawsuit against Volvo Canada, seeking a refund, comes after Volvo North America wrote to him: " Volvo Cars is unable to replace or repurchase the vehicle . We request that you allow your dealer to diagnose and perform all necessary repairs." To be continued...

My Disappointing Volvo EX90 Experience | Real Owner Review

Honest review of the 2025 Volvo EX90 electric SUV. Real owner experience documenting reliability issues, poor customer service, and safety concerns.

www.myvolvoex90.com

this sucks...
his site is a very interesting read indeed. dumbest car for me please without the central tv set. no apple keys shennanigans, good old, reliable key centre lock is more than enough for me.

 

[Samson]

Volvo's new electric flagship and the new standard-bearer for the Swedish brand's range

An interesting article, but I have to that is is really not accurate to describe Volvo as a Swedish brand. These cars are pretty exclusively Chinese.

 

[Moriarte]

Maybe "great" brands like BYD are at serious risk...

All brands are at serious risk right now. BYD is one of the rare brands, which continues increasing vehicle deliveries, even through ongoing slump in worldwide electric car market. But even they, eventually, won't be able to resist saturation caused by intense worldwide competition of the past several years.

It's the little brands you have to worry about. Big car companies have infinite pockets, which they will use to finance themselves out of trouble. Little car companies or struggling car companies will end up scooped up by the big brands, like Volvo once did.

VW is the one in real trouble. With 200 billion in liabilities, most of their activity is concerned with paying out huge % on the accumulated debt. There is no space for innovation or expansion there.