Chinese electric vehicle companies are reportedly turning more to extended-range electric vehicles (EREVs) to boost sales. These vehicles, which combine electric motors with gasoline engines, offer customers a solution to concerns about limited electric range and lack of fast-charging infrastructure.
What Happened: IM Motors, the EV unit of SAIC Motor Corp, is adding a gas engine to its fifth model, which will only have a 124-mile range on pure electric power that can potentially discourage some buyers, as per CNevpost, which cited local media outlet Cheshi.
See Also: Best EV Penny Stocks
Why EREVs Are A Hit:
- Short Electric Range: Many Chinese EREVs have a limited electric range, potentially discouraging buyers.
- Limited Charging Infrastructure: The lack of widespread fast-charging stations can cause range anxiety for potential EV owners.
- Proven Market Demand: Li Auto Inc‘s LI success with EREVs shows strong market acceptance for this hybrid technology in China.
Who Else Is Making Them:
- Li Auto: Offers multiple EREV models, including the Li ONE and Li L9 SUVs.
- Avatr Technology: Plans to introduce four EREVs to its lineup in 2024.
- Leapmotor: Offers EREV versions of its C11 and C01 models.
- Neta Auto: Offers the Neta S EREV.
EREVs Vs. Hybrids: Both EREVs and hybrids combine electric motors with gasoline engines, but they differ in how the gasoline engine is used.
EREVs are primarily powered by their electric motor and battery pack. They do not use the gasoline engine to directly power the wheels. The gasoline engine acts as a range extender, kicking in only when the battery depletes, generating electricity to power the electric motor and extend the driving range.
Hybrids, on the other hand, use both the electric motor and gasoline engine to power the wheels directly. The gasoline engine also charges the battery pack while driving.
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