Gasgoo Munich- What moved the needle in the new energy vehicle market this week?
NIO CEO Li Bin: Rising Raw Material Prices Push Vehicle Costs Up by Around 10,000 Yuan
On May 28, Gasgoo learned that NIO CEO Li Bin told reporters at an ES9 media briefing that raw material costs—including nickel, cobalt, and lithium carbonate—have climbed this year. The result: per-vehicle costs have surged by over 10,000 yuan.
Li noted that commodities and memory chips affect sectors with deeper pockets and faster growth than autos, leaving automakers with little bargaining power. Memory prices haven't retreated since climbing earlier this year, and raw material costs are unlikely to ease soon. That leaves companies to absorb the pain internally.
Image Source: NIO
Speaking at a smart EV forum in April, Li had warned that the industry faces mounting pressure on profitability.
Faster product cycles are making it harder to balance supply and demand, he said, while batteries and chips still account for more than 50% of a vehicle's cost. Standardizing batteries and unifying chip specifications could unlock over 100 billion yuan in savings across the sector.
Gasgoo Take: Li admits the industry lacks leverage and must swallow these costs. While standardizing batteries and chips offers a long-term fix, it won't solve today's problems. Short-term profit pressure isn't going away.
Qijing GT7 Partnership Collapses in 11 Days: Brand Scraps Content, Su Mang Fights Back
On May 28, Qijing—the premium smart EV brand formed by GAC Group and Huawei's Qiankun—issued a statement addressing the backlash over a guest at its GT7 interior preview. The company clarified that the individual was a "tasting officer" (event ambassador), not a brand spokesperson, and said it has halted all related promotion.
The brand explained it invited guests from various fields to spark diverse perspectives, but decided to pull the content after listening to public feedback. Going forward, Qijing said it will recruit ambassadors openly from its user base, aiming to "hand the microphone and camera to those who love and await Qijing."
That same day, Su Mang, the former president of Fashion Group and the other party involved, announced through her lawyers that she is filing a lawsuit to protect her reputation.
The partnership lasted just 11 days from announcement to cancellation—a stark example of how quickly automakers are cutting ties when influencer selection backfires.
Gasgoo Take: This controversy serves as a warning for automakers: vetting influencers for traffic and buzz is far more sensitive than many realize.
Ferrari CEO: First EV Secures Orders from Both New and Returning Customers
Despite a wave of criticism over the design of its first electric vehicle, Ferrari CEO Benedetto Vigna said on May 28 that the 550,000-euro (roughly $639,000) model has already secured orders from both new and existing clients.
Image Source: Ferrari
Ferrari unveiled the EV, dubbed Luce, this week. Its design breaks sharply with tradition, drawing comparisons to mainstream EVs—and largely negative reviews. Even former chairman Luca Cordero di Montezemolo, who left in 2014, questioned the car, warning it could tarnish the Ferrari legend.
By 3 p.m. local time in Italy on the 28th, Ferrari shares in Milan had climbed 3.3%, on track for their first gain since the model's debut in Rome. The stock had plunged more than 8% following the reveal two days earlier.
Gasgoo Take: For ultra-luxury brands, the success of the electric transition will ultimately be decided by delivery numbers.
CATL Bolsters "War Chest" with Another 5 Billion in Funding
On May 27, CATL disclosed plans to issue 5 billion yuan in green technology innovation bonds. The notes, due in "3+2" years, will fund lithium-ion battery production and supply chain payments. This marks the third issuance under the company's 40 billion yuan green bond registration quota.
According to the prospectus, five core projects under construction require a total investment of 149 billion yuan by the end of 2025. With 50.27 billion yuan already spent, nearly 100 billion yuan is still needed.
The 5 billion yuan proceeds will target production bases in Fuding, Jiangsu, and Sichuan. The funds will cover raw materials, equipment maintenance, and supply chain payments, ensuring steady operations as production ramps up.
Gasgoo Take: The fundraising is more than just a routine cash refill; it's a strategic step to expand capacity, fortify technological barriers, and sharpen CATL's global edge.
XPENG Selected for Inaugural Batch of 100 Billion Yuan Fund
Gasgoo has learned that Guangdong recently launched a strategic emerging industry investment guidance fund in Guangzhou. XPENG was named among the first batch of projects, with Chairman and CEO He Xiaopeng delivering a keynote address at the ceremony.
The fund targets a total size of 100 billion yuan, with an initial registration of 50 billion yuan. It is Guangdong's first perpetual provincial government fund structured as a corporation. Operating on a "government-guided, market-driven" model, it will focus on hard technology to build a trillion-yuan investment cluster and modernize the province's industrial base.
Image Source: XPENG
Cultivating strategic emerging industries requires "patient capital" that can weather economic cycles, He said. Both Guangdong and the nation need more companies committed to independent R&D and deep tech innovation.
Outlining his vision for investment, He offered four core principles: prioritize long-term cycles; target high-intensity R&D for quality growth; invest upstream to secure supply chains; and think globally.
Gasgoo Take: XPENG's inclusion in the first batch of projects signals government recognition of its tech prowess and industrial impact—and provides a strategic boost for its future growth.
