Gasgoo Munich- What moved the needle in the EV market this week?
XPENG moves to double shifts to ramp up MONA L03 output
Gasgoo reported on August 7 that Jiang Wen, head of XPENG's MONA series R&D, apologized to locked-in order holders for delivery delays of the MONA L03 via Weibo, while providing an update on production progress.
Jiang noted that surging global demand for AI has caused volatility in high-end chip supplies, impacting August production. Supply chain issues are now being resolved, and factories have switched to double shifts, nearly doubling August's production efficiency. Maximum capacity is expected to be reached in September and October.
Image Source: XPENG
On the production front, July saw a limited ramp-up. With the implementation of double shifts in August, capacity has improved significantly.
Public records show the MONA L03 launched globally in Munich on July 16, priced between 123,800 and 156,800 yuan. Within one hour, firm orders topped 46,859 units, breaking all previous records for XPENG models during the same period.
Regarding delivery cycles, the pure electric version takes 12 to 16 weeks, while the range-extended version takes 7 to 11 weeks. An XPENG vice president previously stated that production ramp-up is slow in the early stages but will see a "geometric increase" once specific milestones are reached.
Gasgoo Takeaway: Record orders highlight the product's strength, but production ramp-up and supply chain resilience remain critical tests. The short-term priority is accelerating delivery, while the long-term focus must be on strengthening supply chain autonomy.
Leapmotor A10 hits 100,000-unit production milestone
Gasgoo reported on August 7 that Leapmotor announced the rollout of the 100,000th mass-produced unit of its small electric SUV, the A10, just 135 days after the model's launch. This speed not only sets a new record for Leapmotor but also establishes a new benchmark for reaching 100,000 units in the sub-100,000 yuan pure electric SUV segment.
Positioned as an "intelligent, premium long-range SUV," the Leapmotor A10 features a 90 kW drive motor and offers two battery options—39.8 kWh and 53 kWh—with a maximum CLTC range of 505 km.
Image Source: Leapmotor
Intelligent features are a core highlight. The A10 combines the SA8155 cockpit chip with the SA8650 assisted driving chip and is equipped with a LiDAR, making it a pioneer in carrying high-level autonomous driving hardware in the 100,000 yuan price bracket.
Since its launch on March 26, the A10 has seen sustained sales momentum. July deliveries alone reached 28,593 units, making it the core engine for Leapmotor's sales growth.
Gasgoo Takeaway: While setting new sales records in the 100,000 yuan SUV segment, the Leapmotor A-series product matrix will continue to expand, expected to drive a new round of sales growth for the brand.
NIO battery swaps top 120 million; 4,000th station goes live
Gasgoo learned on August 7 that NIO announced its cumulative battery swap services have surpassed 120 million. On the same day, NIO's 4,000th power swap station and the first batch of fifth-generation stations officially commenced operation. The network will serve users across three brands: NIO, Onvo, and Firefly.
Data shows NIO stations have delivered a cumulative 6.35 billion kWh of power, equivalent to the annual electricity consumption of over 3.17 million households. In terms of efficiency, swapping has saved users approximately 99.91 million hours compared to charging—an average of 83 hours per user. Compared to refueling internal combustion vehicles, users have saved a total of about 31.2 billion yuan, or 26,000 yuan per person.
Image Source: NIO
To date, NIO has deployed 1,049 highway swap stations nationwide, covering 550 cities and forming a high-speed swap network spanning 9 vertical and 11 horizontal corridors across 16 major urban clusters. Additionally, NIO has connected 88 "Power Up" scenic routes, with plans to complete 100 by 2026 to support long-distance and intercity travel.
Gasgoo Takeaway: The official launch of the first batch of fifth-generation stations is a significant positive for NIO, helping its three brands combine forces to boost sales.
Stelato's rugged off-road SUV is here: G9 pre-orders open
Gasgoo reported on August 5 that BAIC BluePark's Stelato brand officially opened pre-orders for its G9 model. Positioned as a rugged SUV in the 500,000 yuan class, the G9 targets outdoor scenarios with features like an electric roof tent, side awning, and integrated tailgate kitchen, along with Huawei's intelligent lighting system.
Regarding intelligent driving, the Stelato G9 obtained a Beijing road test license for Level 3 autonomous driving at 120 km/h in July—the first model in China to receive this qualification. BAIC BluePark noted that 120 km/h matches the domestic highway speed limit, making test scenarios closer to real-world high-speed travel.
BAIC BluePark has now established a "dual brand, dual L3" layout. The Arcfox Alpha S (L3 version) previously secured product access approval for autonomous driving from the Ministry of Industry and Information Technology and received one of China's first dedicated L3 license plates, "Jing AA0001Z," currently undergoing operational verification in limited scenarios. The Stelato G9, meanwhile, targets the high-end luxury SUV market and highway scenarios.
Gasgoo Takeaway: BAIC BluePark's strategy is clear: Arcfox leads the way while Stelato breaks through at the high end. This positions the company to seize the window of opportunity in intelligent driving as policy and market forces align.
6.18 billion yuan dividend! CATL implements interim payout
Gasgoo reported recently that leading battery maker CATL (300750) disclosed its interim cash dividend plan for 2024. The announcement states the company will distribute a cash dividend of 14.11 yuan (including tax) per 10 shares based on a total share capital of 4.38 billion shares, excluding repurchased shares. The total dividend payout amounts to approximately 6.18 billion yuan. The record date is set for August 7, with ex-dividend trading starting on August 10.
CATL's dividend plan sends a clear signal: the growth logic of this lithium battery giant, built on continuous capital expansion, is shifting. During the peak expansion of the power battery industry, CATL maintained a high capital investment model, prioritizing funds for capacity expansion and cutting-edge R&D, with relatively limited dividends. Now, a substantial interim dividend suggests the company is beginning to balance its operational focus with long-term shareholder returns.
Image Source: CATL Announcement
Several research institutions note that the interim dividend of roughly 6.18 billion yuan places CATL in the first tier of A-share manufacturing companies. The adjustment in the dividend strategy of a leading enterprise has implications beyond the company itself. As a core weight on the ChiNext board, the market believes that if such industry leaders establish a normalized, high-level dividend mechanism, it will improve the overall dividend environment for core indices like the ChiNext 50, further attracting long-term capital to growth sectors.
Gasgoo Takeaway: The power battery industry is transitioning from high-speed growth to high-quality development. CATL is poised to set a demonstration effect, potentially reshaping the valuation system of the new energy industry chain.
