GM’s China joint venture sold over 100,000 EVs last year
GM’s joint venture in China, SAIC-GM, delivered over 100,000 EVs in 2023, more than doubling from the previous year.
GM’s China joint venture EV sales double in 2023
With 18,911 EVs handed over in December, GM’s China joint venture saw a 312% surge in deliveries over last year.
SAIC-GM sells EVs under GM’s Buick, Chevy, and Cadillac brands in China. The automaker currently builds and sells five electric models in the region.
The first Ultium-based Buick Electra E5 electric SUV was revealed in November 2022, followed by the Electra E4 two months later. Meanwhile, the brand launched its new Velite 6 last summer, starting at only $15,500 (112,800 yuan).
Cadillac introduced its first EV in China, the Lyriq, in December 2021. Between the Buick Velite, Electra E5, and Cadillac Lyriq, SAIC-GM sold over 86,000 EVs alone.
Sales of the Buick Velite reached 45,538, the Electra E5 had 35,129, and 5,400 Lyriqs were handed over last year.
The automaker plans to launch eight electrified vehicles (including PHEVs) over the next two years as it looks to build momentum. SAIC-GM has two dedicated EV plants in Shanghai and Wuhan, where it builds Ultium models. Its third factory, in Yantai, is set to come online in the first half of 2025.
Meanwhile, SAIC-Volkswagen has now sold over 10,000 ID electric models for six consecutive months, led by the VW ID.3 electric hatch. SAIC Group was China’s second-largest NEV maker (including PHEVs) behind BYD. That said, BYD overtook Tesla in EV volume in Q4.
SAIC introduced a three-year new energy action plan last year. It says joint venture brands have focused on “new tracks, moving forward and making strong efforts.” This year, the plan will accelerate as SAIC’s NEV business enters a “stage of rapid development.”
SAIC-GM was also the first automaker in China to gain access to Tesla’s EV charging network. Cadillac and Buick EV owners will have first access to the chargers.
Electrek’s Take
Although GM is picking up the pace in China, it’s scaling back EV plans in its home market. In the US, GM sold 75,883 EVs last year, up 93% over 2022. That includes its commercial Brightdrop electric delivery vans.
Although the Bolt EV and EUV models accounted for over 62,000, or nearly 82% of GM’s 2023 EV sales, the automaker ended production in December. The move comes as GM ramps up its Ultium-based electric models.
GM has already pushed back production of the Equinox EV, Silverado RST EV, and GMC Sierra Denali EV.
With the Bolt being phased out, GM risks falling further behind in the US as the market shifts to electric. The automaker was topped by rival Ford in EV sales last year, but both were far from Tesla’s over 1.8 million EVs delivered.
Source: Automotive News, SAIC-GM
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Environment
Baidu- and Geely-backed JiYue brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec
JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.
JiYue has only existed since 2021, when parent tech company Baidu announced it was expanding from software development into physical EV production, joining forces with multinational automotive manufacturer Geely.
The new “robotic EV” marque initially launched as JIDU with $300 million in startup capital before garnering an additional $400 million in Series A funding, led by Baidu, in January 2022.
In August 2023, Geely took on a larger role in JIDU alongside a greater financial stake as the brand reimagined itself as JiYue, inheriting the JIDU logo and its flagship model, the 01 ROBOCAR.
In December 2023, Baidu and Geely unveiled a second model called the JiYue 07. It was born from JIDU’s ROBO-02 concept, which debuted in 2023 and was designed to compete against the Tesla Model 3 in China.
The 07 finally launched in China earlier this year with 545 miles of range. With an all-electric SUV and sedan on the market, JiYue has unveiled an exciting new entry in the form of a performance supercar called the ROBO X. Check it out:
JiYue’s new ROBO X EV is available for pre-order now
JiYue showcased its new ROBO X hypercar in front of the crowd at the 2024 Guangzhou Auto Show earlier today. Similar to previous models but with a unique spin, JiYue described the ROBO X as an AI smart-driving supercar that, for the first time, blends artificial intelligence and autonomous driving into a high-performance, race-ready EV.
When we say “high performance,” we mean a quad motor liquid-cooled drive system that can propel the ROBO X from 0 to 100 km/h (0 to 62 mph) in under 1.9 seconds. JiYue called the new ROBO X a “performance beast” with “the perfect balance of excellent aerodynamic performance and high downforce.” JiYue CEO Joe Xia was even bolder in his statements about the ROBO X:
For the next 20 years, the design of supercars will bear the shadow of Robo X. This is the best design in the history of Chinese automobiles today, and it is a landmark presence.
Fighter-style airflow ducts bolster the EV’s aerodynamics, efficiency, and overall posture. Per JiYue, the two-seater ROBO X is expected to deliver a maximum range of over 650 km (404 miles).
The new supercar features falcon-wing doors, a carbon fiber integrated frame, and a professional racing HALO safety system offering 360° of support. The interior features an AI smart cockpit with SIMO real-time feedback to give drivers an immersive racing experience.
Furthermore, JiYue said the vehicle will utilize parent company Baidu’s Apollo self-driving technology, which could make it the first electric supercar to apply pure-vision ADAS technology that enables track-level autonomous driving.
Following today’s unveiling of the ROBO X, JiYue has officially opened up pre-orders in China for RMB 49,999 ($6,915). That said, reservation holders will need to be patient as JiYue shared that it doesn’t expect to begin mass production of the ROBO X until 2027.
What do you think? Will people be talking about the ROBO X for the next 20 years?
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the launch of the Lectric XPedition 2.0, Yamaha e-bikes pulling out of North America, LiveWire unveils an electric scooter concept, PNY readying its cargo e-scooters for pilot testing, Royal Enfield’s first electric motorcycle, and more.
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Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market.
U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%.
Here are Friday’s energy prices:
- West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
- Brent January contract: $72.36 per barrel, down 20 cents, or 0.28%. Year to date, the global benchmark has lost nearly 6%.
- RBOB Gasoline December contract: $1.99 per gallon, up 0.46%. Year to date, gasoline has fallen more than 1%.
- Natural Gas December contract: $2.70 per thousand cubic feet, down 2.98%. Year to date, gas has gained more than 4%.
The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft.
A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump’s election victory.
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