Daily Newsletter

25 August 2023

Daily Newsletter

25 August 2023

Dongfeng unveils new EV brand at Chengdu Show

Dongfeng’s new EV brand is called Nammi

August 25 2023

Dongfeng Motor Corporation has launched a new electric vehicle (EV) brand, Nammi, at the 2023 Chengdu Motor Show this week as the Chinese state-owned automaker looks to strengthen its position in the fast-growing automotive segment.

At the Chengdu show, which runs from 25th August until the 3rd September, Dongfeng displayed its first model under the new brand - the Nammi 01 - based on the quantum architecture platform the company developed exclusively for its Nammi brand.

The platform has a short front and rear suspension design and has an active battery disconnection system in case of an emergency. It has the Mach E electric drive system, which integrates hub motors to fast-charging solid-state batteries which give it a range of 200 km with an eight-minute charge.

Dongfeng, based in Wuhan in China’s Hubei, said it will begin deliveries of the Nammi 01 in November, targeting the low-cost EV market segment established by SAIC-GM-Wuling’s Hongguan model. The company said it plans to launch of one or two new EV models per year under the Nammi brand.

Nammi’s general manager Chen Meng said a 150,000-unit sales target for the Nammi brand has been for 2024, rising to 400,000 in 2025.

Like other large state-owned automakers, Dongfeng is implementing a strategy based on multiple stand-alone brands to expand its presence in different market segments, with Nammi set to join the group’s Aeolus brand to help drive up sales.

Dongfeng’s vice-president Chen Hao said at the show “the unveiling of the Nammi brand will hone Dongfeng’s image as a carmaker of the masses. The company is determined in its resolve to engineer Dongfeng’s electrification drive”.

Tyres and exhaust systems expected to dominate the automotive aftermarket industry

Today’s consumers have a great desire to customize and distinguish their vehicles. The demand for aftermarket extras, including specialized wheels, performance upgrades, interior renovations, audio systems, and aesthetic alterations, has increased owing to this trend. Per GlobalData estimates, the global automotive aftermarket industry will be valued at $677 billion in 2023 and is expected to grow at a CAGR of 5.8% by 2030.

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