【2.19 Lithium Battery News】 BYD's CEO Wang Chuanfu expects the monthly penetration rate of new energy vehicles this year to exceed 50%.

【BYD: Looking Up to U8, tops the sales in the million-level new energy SUV segment with 1652 units sold in January】 BYD announced that in the automotive field, it has completed the full coverage from vehicle technology to core components such as upstream batteries, motors, and electronic controls, and even vertical integration of vehicle regulation semiconductors further upstream, constructing a complete industrial ecosystem covering the entire industry chain. Since its delivery commenced in November 2023, Looking Up to U8 immediately entered the global ranks of high-end luxury cars with a sales volume of 1593 units in its first full month of delivery. In January 2024, it maintained its position as the best-selling million-level new energy SUV with 1652 units sold, becoming a new flagship for domestic automobiles.

【India's Tata Motors Cuts Electric Vehicle Prices by Up to $1,450】 Tata Motors' electric vehicle division in India stated on Tuesday that, in order to pass on the benefits of reduced battery costs to customers, the company has cut the prices of its electric vehicles by up to 120,000 rupees (approximately $1,450).

【He Xiaopeng Releases All-Staff Letter: Plans for Approximately 30 New or Revised Models in The Next 3 Years】 XPeng Motors' CEO He Xiaopeng released his first all-staff letter of the Dragon Year, mentioning that this year marks the first year of an accumulation and explosion of XPeng's product and technology platform. The company plans for approximately 30 new or revised models within the next three years; in 2024, the company will invest more human resources (recruitment of about 4000 people) and a research and development budget exceeding the previous year by more than 40%. Starting this month, the company will implement a brand-new XPeng Product Development System (XPD), which is a version 1.0 of a vehicle lifecycle product development management system with XPeng's unique features, to empower the company to achieve greater success with a more advanced and efficient full-process system.

【BYD’s Wang Chuanfu’s Latest Assessment: This Year’s New Energy Vehicle Monthly Penetration Rate Will Exceed 50%】 BYD's Chairman and President Wang Chuanfu stated at the Guangdong Province High-Quality Development Conference on February 18 that China's production and sales of new energy vehicles have been number one globally for nine consecutive years, accounting for over 60% of the global market. The development of new energy vehicles is accelerating further, and it is expected that this year's new energy vehicle monthly penetration rate will exceed 50%.

【China Passenger Car Association: Domestic Narrow Passenger Car Market Retail Sales in January Grew by 57.4% Year-on-Year】 According to the China Passenger Car Association's automotive market research branch news on February 18, the latest retail sales data statistics show that in January, the domestic narrow passenger car market retail sales volume reached 2.035 million units, a year-on-year increase of 57.4%, and a month-on-month decrease of 13.9%.
【2.19 Lithium Battery News】 BYD's Wang Chuanfu predicts this year's new energy vehicles' monthly penetration rate to exceed 50% | China Passenger Car Association says domestic narrow passenger car market retail sales in January up 57.4% year-on-year