GoldDog83
3 meses hace
Tesla, Inc.‘s (NASDAQ:TSLA) China recovery could face a risk as a domestic nimble upstart has just launched a product that is selling at a fast pace.
What Happened: XPeng, Inc. (NASDAQ:XPEV) kicked off deliveries of its new low-end electric-vehicle model, Mona M03, at the Chengdu Auto Show, which is being held on Aug. 30 to Sept. 8. The company unveiled the all-electric hatchback coupe, at its 10th Anniversary Gala Night held on Tuesday.
XPeng Chairman and CEO He Xiaopeng delivered the Mona M03 to its first owners on the show floor, reported CnEVPost adding that volume deliveries of the model would begin imminently. The company reportedly said it received 30,000 firm orders in the first 48 hours of availability, with 55% of the customers under 30 years and 61% men.
The company has unveiled three variants of the electric sedan, with a starting price of 119,800 yuan (around $16,900). This is about half as much as the cost of Tesla’s cheapest made-in-China Model 3 (rear-wheel-drive variant), which is listed at 231,900 yuan on the company’s China website.
See Also: Best EV Stocks
Why It’s Important: Tesla has been facing cut-throat competition in China as the mushrooming upstart ecosystem offers a serious threat to demand. More importantly, the U.S. company is stymied by the lack of a model to cater to the lower end of the market.
Recently, Tesla extended its “zero-interest-rate” financing scheme in China to the end of September, and this was seen by analysts as a signal that the company is still struggling with demand.
Weekly insurance registration data for Tesla EVs has shown an improvement but it may have come at a cost, potentially pressuring margins further.
Price Action: In premarket trading, XPeng ADRs listed on the NYSE rose 3.43% to $8.14, according to Benzinga Pro data. The stock has been seeing some upward momentum this week on the back of a stock purchase by Xiaopeng. Tesla climbed 1.60% to $209.59.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
GoldDog83
4 meses hace
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Dow Jones NewsJul 17, 10:00 AM UTC
Software Defined Vehicle Market worth USD 1,237.6 billion by 2030 | MarketsandMarkets
CHICAGO, July 17, 2024 /PRNewswire/ -- Software Defined Vehicle market size is projected to grow from USD 213.5 billion in 2024 to USD 1,237.6 billion by 2030, at a CAGR of 34.0%, according to a new report by MarketsandMarkets. There are various factors that affect the growth of demand for SDVs in the global market. Receiving over-the-air updates guarantees that customers' car software is always up to date with the newest features and vehicle security improvements. Due to the regular software upgrades can often cure issues remotely, OEMs will profit greatly from lower recall costs. Furthermore, new business models that allow for real-time car diagnostics and problem solving, such as remote diagnostics, improve maintenance process.
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Browse in-depth TOC on "Software Defined Vehicle Market"
118 - Tables
93 - Figures
238 - Pages
Software Defined Vehicle Market Scope:
Report Coverage Details ------------------------- --------------------------------------------------- Market Revenue in 2024 USD 213.5 billion ------------------------- --------------------------------------------------- Estimated Value by 2030 USD 1,237.6 billion ------------------------- --------------------------------------------------- Growth Rate Poised to grow at a CAGR of 34.0% ------------------------- --------------------------------------------------- Market Size Available for 2020--2030 ------------------------- --------------------------------------------------- Forecast Period 2024-2030 ------------------------- --------------------------------------------------- Forecast Units Value (USD Billion) ------------------------- --------------------------------------------------- Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends ------------------------- --------------------------------------------------- Segments Covered SDV Type (Semi-SDV. SDV), E/E Architecture (Distributed, Domain Centralised, Zonal Control), Vehicle Type (Passenger Car and Light Commercial Vehicle) and Region ------------------------- --------------------------------------------------- Geographies Covered Asia Pacific, North America, and Europe. ------------------------- --------------------------------------------------- Report Highlights Updated financial information / product portfolio of players ------------------------- --------------------------------------------------- Key Market Opportunities SDV platform monetization ------------------------- --------------------------------------------------- Key Market Drivers Reduced recall and manufacturing costs ------------------------- ---------------------------------------------------
SDV segment is expected to have significant growth opportunities in global Software Defined Vehicle market.
During the forecast period, SDVs are expected to have largest growth prospects. Unlike conventional vehicles, which mostly rely on predefined hardware configurations, SDVs are more flexible and adaptive in nature which allows their functionality to be upgraded and improved over time through software upgrades. Among contemporary OEMS, Tesla has been setting the standard for the switch to SDVs since 2012. Leading OEMs such as Stellantis, BMW, Volkswagen among others are currently in the transition phase, moving from Semi-SDVs to SDVs fully by 2030, including increased flexibility and agility through OTA updates that enable quick response to market demands and problem solving without necessitating physical recalls. This will reduce production costs by focusing on standardizing hardware and software differentiation. Further, it prolongs the life of automobiles by upholding software upgrades.
"China to lead the Software Defined Vehicle market in Asia Pacific."
China is the largest vehicle market in the Asia Pacific and one of the biggest automobile markets worldwide, is expected to have significant growth in the Software Defined Vehicle industry. This will be led by continuous R&D and advancement in the autonomous driving technology by local software mobility providers and sophisticated automotive ecosystems integrating cloud-native technologies. Leading OEMs and technology providers in the country are utilizing open-source platforms to develop next-generation vehicle equipped with software stacks, which enhances SDV capabilities such as driving assistance, connectivity, and digitalization. SDV providers such as NIO, Li Auto Inc., ZEEKR, XPENG Inc. among others currently provide SDVs in China. Also, these SDV providers are partnering with software mobility providers to enhance their SDV capabilities. For instance, in May 2024, XPENG partnered with TrueEV, an Australia based Electric mobility provider company. TrueEV will handle distribution and retail of XPENG vehicles in Australia, starting with the launch of the XPENG G6 SUV, built on the SEPA 2.0 platform, by the end of 2024, for global markets.
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Software Defined Vehicle Market Dynamics:
Drivers:
1. Reduced recall and manufacturing costs
Restraints:
1. Increase in risk of cyberattacks
Opportunities:
1. SDV platform monetization
Challenge:
1. Complex software updates and security patching
Key Market Players Software Defined Vehicle Industry:
Prominent players in the Software Defined Vehicle Market include Tesla (US), Li Auto Inc. (China), NIO (China), Rivian (US), XPENG Inc. (China), and ZEEKR (China) and among others.
The break-down of primary participants is as mentioned below:
-- By Company Type: Tier I -- 42%, Tier II -- 40%, and OEM --18%, -- By Designation: C-level Executives-- 57%, Directors -- 29%, and Executives -- 14% -- By Region: North America -- 39%, Europe -- 33%, and Asia Pacific -- 28%
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Software Defined Vehicle Industry Recent Developments:
-- In June 2024, XPENG Inc. partnered with NVIDIA Corporation for the adoption of the NVIDIA DRIVE Thor platform for its next-generation EVs. This platform will power XPENG's XNGP AI-assisted driving system, enhancing intelligent driving capabilities. XPENG launched the G6 Coupe SUV, G9 SUV, and P7 Sedan equipped with NVIDIA DRIVE Orin, boasts continuously upgraded AI capabilities through over-the-air updates. -- In June 2024, XPENG Inc. launched its all-new G6 electric mid-size SUV, positioning it as a strong contender against established rivals like the Tesla Model Y in the Australian market. It is designed on XPENG's SEPA 2.0 platform. The vehicle also features bidirectional charging (V2X) with V2L support up to 3.3 kW AC, making it versatile for energy transfer to external devices. This SUV accelerates from 0 to 100 km/h in 6.9 seconds and reaches a top speed of 200 km/h, powered by a rear-wheel drive system generating 190 kW (258 PS) of total power and 440 Nm of torque. Its battery architecture operates at 800 V, and it supports up to 11 kW AC charging. -- In June 2024, Rivian launched the second generation of the R1 lineup i.e., R1S and R1T models with software-defined technology. These vehicles feature a streamlined electrical architecture, reducing ECUs from 17 to 7 and significantly cutting down wiring. The new Rivian Autonomy Platform, powered by advanced sensors and AI, enhances driving assistance capabilities. In-vehicle connectivity includes digital car keys via Apple Wallet and Google Pixel, a rich entertainment system with streaming video and Apple Music integration, and an interactive user interface powered by Unreal Engine.
Software Defined Vehicle Market Size - Key Benefits of Buying the Report:
-- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Software Defined Vehicle market and the subsegments. -- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. -- The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on:
-- Analysis of key drivers (Reduced recall and manufacturing costs, personalized client engagement, integration of ADAS digital cockpits, and increasing adoption of 5G technology), restraints (Limited over-the-air updates and increase in risk of cyberattacks), opportunities (Remote diagnostics, Pay-per-use mobility, SDV platform monetization and Digital twin for emergency repair), and challenges (Complex software updates and security patching and risk of data breach) influencing the growth of the Software Defined Vehicle market. -- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Software Defined Vehicle market. -- Market Development: Comprehensive information about lucrative markets -- the report analyses the Software Defined Vehicle market across varied regions. -- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Software Defined Vehicle market.
17 Jul 2024, 10:00 Software Defined Vehicle Market worth USD 1,237.6 -2-
-- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Tesla (US), Li Auto Inc. (China), NIO (China), Rivian (US), XPENG Inc. (China), and ZEEKR (China), among others in the Software Defined Vehicle market.
Related Reports:
Connected Car Market - Global Forecast to 2030
ADAS Market - Global Forecast to 2030
Electric Vehicle Market - Global Forecast 2030
Autonomous / Self-Driving Cars Market - Global Forecast to 2030
Get access to the latest updates on Software Defined Vehicle Companies and Software Defined Vehicle Industry Growth
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View original content:https://www.prnewswire.com/news-releases/software-defined-vehicle-market-worth-usd-1-237-6-billion-by-2030--marketsandmarkets-302199096.html
SOURCE MarketsandMarkets
(END) Dow Jones Newswires
July 17, 2024 06:00 ET (10:00 GMT)
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