Author: Linda Ma

Chinese autonomous driving startup Momenta is pursuing a new funding round at a valuation of more than $5 billion, Bloomberg reported, citing people familiar with the matter. The company is working with financial advisors to assess investor interest, with an initial target of several hundred million dollars. The size of the round could increase depending on market dynamics, the report said. The financing could strengthen Momenta’s capital base ahead of a potential initial public offering. The company confidentially filed for a U.S. listing last year, though Bloomberg noted progress would depend on broader market conditions. Separately, Reuters reported that Momenta…

BYD has added three new variants to its second-generation Qin Plus sedan and lowered prices on several existing models, aiming to strengthen its competitiveness in the crowded Chinese market. The automaker introduced one new plug-in hybrid electric vehicle (PHEV) and two battery electric vehicle (BEV) options, priced at RMB 79,800, RMB 89,800 and RMB 99,800, respectively. At the same time, BYD discontinued three trims and cut prices by RMB 10,000 on three remaining versions, bringing the entry-level Qin Plus price down to RMB 69,800. The new PHEV variant offers a 128-kilometer range, while the two BEV versions provide ranges of…

Leapmotor has produced its one-millionth vehicle, the company announced on its Weibo account, marking a significant milestone since its founding in 2015. The milestone was reached just 343 days after the company celebrated its 500,000th vehicle. The company began mass production in June 2019, reaching 100,000 vehicles in June 2022 and 500,000 vehicles in October 2024. Leapmotor initially focused on battery electric vehicles (BEVs) but expanded into extended-range electric vehicles (EREVs) in 2023. Its current lineup in China includes the T03, B10, B01, C01, C10, C11, and C16, with select models offered in both BEV and EREV variants. Leapmotor has…

Chinese automaker BYD has responded to Euro NCAP’s 2024 ‘Not Recommended’ rating of the Atto 3’s Assisted Driving system, upgrading existing vehicles via software and introducing a new system for the 2025 model year. The updated system is now rated as ‘Good,’ while older models achieve a ‘Moderate’ score after the over-the-air update. Euro NCAP had initially flagged the 2022 Atto 3 for serious shortcomings in its Intelligent Cruise Control, BYD’s Level 2 driver-assistance system. The assessment found the system failed to respond appropriately to other vehicles or motorcycles and did not adequately intervene when drivers were unresponsive, resulting in…

Chinese electric vehicle maker Li Auto has released official photos and specifications for its new i6 SUV, marking the second model in the i-series after the larger Li i8. Drawing design cues from the Li Auto Mega MPV, the i6 features a short hood, expansive windshield, and sloping roofline for a modern, aerodynamic profile. Built on a new 800V platform, the i6 measures 4,950 mm in length, 1,935 mm in width, 1,655 mm in height, with a 3,000 mm wheelbase. The SUV is available in two configurations: a rear-wheel-drive (RWD) model producing 250 kW with a top speed of 180…

Shangjie, the new automotive brand jointly developed by Huawei and SAIC Motor, launched its first model, the H5 SUV, on Tuesday, positioning it as the most affordable vehicle under Huawei’s Harmony Intelligent Mobility Alliance (HIMA). The Shangjie H5 debuted with a starting price of RMB 159,800 ($22,470), a cut of RMB 10,000 from the pre-sale figure announced last month. HIMA said the model secured more than 10,000 firm orders within the first hour of launch, with deliveries scheduled to begin at the end of September. Available in both battery electric (BEV) and extended-range electric (EREV) versions, the midsize SUV will…

Nio said its ET5 Touring wagon has unexpectedly become the company’s top-selling model, surpassing the ES6 SUV for several consecutive months, prompting a reassessment of consumer demand trends. “The ET5 Touring becoming Nio’s top-selling model in recent months was actually somewhat unexpected for us,” Qin Lihong, co-founder and president of Nio, told reporters during a roundtable in Hangzhou on Sunday. “This has also made us reflect that we may need a more thorough and fundamental understanding of user needs.” The ET5 Touring delivered 4,315 units in August, ahead of the ES6’s 2,877 units, according to data from CnEVPost. This was…

Li Auto released interior images of its new Li i6 pure-electric SUV on Sunday, as the company readies the model for its official launch next week. The five-seat SUV features Li Auto’s signature cabin design with dual connected screens in the front, a 21.4-inch rear entertainment display, and an electric queen seat. Other amenities include a dual-temperature refrigerator, panoramic glass roof and privacy shades, the company said. “The Li i6 offers a new form of five-seat SUV,” the automaker added. The Li i6 will be Li Auto’s third battery electric vehicle and second pure-electric SUV, following the Li i8 and…

China’s cumulative new energy vehicle (NEV) sales have exceeded 40 million units, the State Council Information Office said on Thursday, underscoring the country’s decade-long lead in the global electric vehicle market. China has been the world’s largest producer and seller of NEVs for 10 consecutive years, a spokesperson said, adding that the sector’s expansion supports global carbon reduction goals. Sales have surged tenfold in the past five years, rising from 1.3 million in 2020 to nearly 13 million in 2024. Eight government departments, including the Ministry of Industry and Information Technology, last week set a 2025 target of 32.3 million…

Chinese automaker Changan has launched its Deepal S07 electric SUV in the UK, with prices starting at £39,990, marking the brand’s official entry into the European market. The vehicle offers up to 295 miles (475 km) of range under the WLTP testing cycle. The Deepal S07 is powered by a 160kW rear-mounted permanent magnet synchronous motor producing 320 Nm of torque. Its 79.97kWh battery, believed to use NCM cells from CALB, supports DC charging, with Changan stating it can recharge from 30% to 80% in 35 minutes. In China, the model is also sold with a smaller 69kWh battery from…

China’s Ministry of Industry and Information Technology (MIIT) launched a public consultation on Wednesday for a new mandatory national standard governing combined driving assistance systems in intelligent connected vehicles, the ministry said. The proposed regulation, titled “Safety Requirements for Combined Driving Assistance Systems in Intelligent Connected Vehicles,” seeks to set safety baselines and provide technical guidance for industry access, quality oversight, and incident investigations, MIIT officials told Chinese media Economic Information Daily (EID). Combined driving assistance systems, often referred to as Level 2 (L2) automation, reduce driver workload and improve comfort. According to MIIT data, sales of passenger vehicles equipped…

Buick, a unit of General Motors (NYSE: GM), has unveiled the Electra L7 extended-range sedan in China, signaling its bet on a new energy vehicle (NEV) segment that has expanded rapidly in recent years but now faces slowing growth and intensifying competition. The Electra L7, introduced at an event on Sunday, is built on the Xiao Yao Super Architecture and will begin pre-sales on Sept. 28, with a market launch slated for the fourth quarter. While pricing has not been disclosed, Buick previously indicated the sedan would be positioned around RMB 300,000 ($41,790). The model is part of Buick’s Electra…

Stelato, the electric vehicle (EV) brand jointly created by Huawei and Beijing Automotive Group (BAIC), said it will invest RMB 20 billion ($2.8 billion) over the next three years to strengthen its position in China’s competitive EV market. The investment will support advances in product design, assisted driving, smart cockpits, and quality, according to a company statement. Huawei and BAIC will form a dedicated Stelato business unit under a strategic alliance model, covering operations from design to sales services. The two companies also plan to build a dedicated manufacturing and supply chain system for Stelato, along with exclusive sales and…

China’s new energy vehicle (NEV) market continued its strong growth trajectory in August, with total sales reaching 1.395 million units, up 26.8 percent from a year earlier and 10.5 percent from July, according to data from the China Association of Automobile Manufacturers (CAAM). The figures include both domestic sales and exports, covering battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. BEVs remained the largest contributor to sales, registering 908,000 units, a 40.5 percent increase year-on-year. PHEV sales reached 487,000 units, up 7.5 percent annually. Exports remained robust, with 224,000 NEVs shipped abroad in August, marking…

Great Wall Motor’s (GWM) premium Wey brand has opened pre-sales for its new Gaoshan 7 multi-purpose vehicle (MPV), marking the latest addition to the Gaoshan lineup. The Gaoshan 7 is offered in Standard and Welfare editions, priced at RMB 289,800 ($40,700) and RMB 349,800 respectively. Wey said the MPV received 3,756 pre-orders within the first hour. Positioned as a mid-to-large family MPV, the Gaoshan 7 features a 2+2+3 seating configuration. It measures 5,050 mm in length, 1,960 mm in width, 1,900 mm in height, and has a wheelbase of 3,085 mm. The vehicle uses a plug-in hybrid system that combines…

BYD’s premium brand Denza will release an updated version of its N9 large luxury SUV on Sept. 17, the company announced on Weibo, aiming to strengthen its position in the high-end SUV market. The refreshed model comes just six months after the N9’s initial launch in March. The N9, Denza’s flagship six-seat hybrid SUV, measures 5,258 mm in length, 2,030 mm in width, 1,830 mm in height, and has a 3,125 mm wheelbase. Powered by BYD’s e3 technology, the vehicle accelerates from 0 to 100 km/h in 3.9 seconds despite a weight of up to 3,245 kg. The original model…

Nio will fall short of its 2025 target for new battery swap stations in China as it reallocates resources toward a next-generation system, Chief Executive William Li said on Wednesday. The company had originally aimed to install 2,000 new stations this year, later revising the goal to between 1,800 and 2,000. As of September 10, Nio had added 488 sites, or about 27% of its revised target. “Mainly because we have to think about deploying the fifth-generation stations,” Li said, explaining that current fourth-generation stations cannot be upgraded to support the variety of battery sizes across Nio and its sub-brands,…

Chinese car makers are increasing their presence in Europe, with executives emphasizing long-term plans to establish local production and tailor vehicles to European customers, highlighting a shift from earlier struggles in the region. At the IAA Mobility auto show in Munich this week, Chinese automakers, facing intense competition and margin pressure in their domestic market, showcased their latest electric vehicles (EVs) for Europe. GAC displayed its Aion V electric SUV, set to launch in Poland, Portugal, and Finland this month, and the Aion UT, which will go on sale in Europe next year. “Everything we do starts with the needs…

BYD plans to produce electric vehicles locally in Europe within three years, a move that would help it sidestep European Union tariffs on Chinese-made cars, a senior company executive said on Monday. “We are training ourselves to be more European in production,” said Stella Li, executive vice president and BYD’s second-ranking executive, in an interview at the IAA Mobility auto show in Munich. The company is set to start output at its factory in Hungary this year and aims to begin production in Turkey in 2026. The EU imposed tariffs on Chinese-made EVs last year, citing what it said were…

Chinese electric vehicle (EV) maker Xpeng said on Monday it will open its first European research and development (R&D) center in Munich, Germany, as the company looks to deepen its foothold in one of its key overseas markets. The Munich site will be the company’s ninth global R&D hub and will work alongside facilities in Silicon Valley, San Diego, and several Chinese cities including Beijing, Shanghai, Shenzhen, and Guangzhou. The automaker said the center, built on the principle “In Europe, With Europe,” is designed to capture local user needs, accelerate innovation, and advance localization efforts. “The Munich center enables us…