Author: Linda Ma

Chinese tech giant Xiaomi is preparing to unveil its second electric vehicle (EV), an SUV designed to rival Tesla’s Model Y, according to recent reports. Spy shots purported to be of Xiaomi’s upcoming SUV have emerged, offering a glimpse into the company’s ambitious foray into the competitive EV market segment. See also: Xiaomi’s Electric Vehicle Factory Boosts Workforce to Meet Soaring Demand Local automotive media outlets, including Xchuxing, have shared the spy shots, suggesting that Xiaomi’s new model will be an all-electric coupe SUV, drawing comparisons to Ferrari’s Purosangue. The vehicle is expected to be launched in 2025, following Xiaomi’s first…

Nio has restructured its smart driving team to emphasize end-to-end technologies, aligning with a broader industry shift towards more comprehensive autonomous driving solutions, as reported by LatePost. The restructuring, which recently took place in Nio’s smart driving research and development (R&D) division, involved merging the perception and planning-control teams into a larger model team. Additionally, the integration team was reorganized into the technology delivery team, indicating a strategic focus on advancing Nio’s capabilities in smart driving technologies. See also: Nio Introduces Fourth-Generation Battery Swap Stations with 22% Faster Swapping Under the leadership of Nio’s vice president of smart driving R&D, Ren…

BYD  has achieved a significant milestone as cumulative sales of its Yuan family models have exceeded 1 million units, further solidifying its position in the rapidly expanding new energy vehicle (NEV) market. The announcement of this achievement was made by BYD yesterday, highlighting the Yuan family’s success as the latest addition to BYD’s model lineup to reach this impressive milestone. Previously, both the Song family and the Qin family had also achieved this milestone, underscoring BYD’s prowess in the NEV segment. The Yuan family, which includes the Yuan Up, Yuan Plus, and Yuan Pro, represents a range of SUVs that…

A recent survey conducted by the China Chamber of Commerce to the EU and the China Economic Information Service revealed that the European Union’s anti-subsidy investigation into Chinese electric vehicles has significantly impacted Chinese firms’ confidence in investing in Europe, while also cooling their EV sales in the region. The survey, conducted in April and May, highlighted several key findings regarding Chinese EV manufacturers and their operations in Europe. According to the survey, a staggering 82% of vehicle and industry chain firms expressed that the subsidy investigation had eroded their confidence in investing in Europe in the near future. Additionally,…

SAIC-GM-Wuling has launched the 2024 Wuling Binguo in China, offering a range of minor cosmetic and technical enhancements over its predecessor. The new small electric vehicle (EV) retains its familiar design, introduced in February 2023, but introduces several new features across its variant lineup. The 2024 Wuling Binguo is available in multiple configurations, each denoting its range. The variants include the 203 km Light, 333 km Enjoyment, 333 km Lingxi Connected, and 410 km Lingxi Premium, priced at 56,800 yuan (7,303 euros), 70,800 yuan (9,103 euros), 74,800 yuan (9,618 euros), and 84,800 yuan (10,904 euros), respectively. Notable updates include the…

Nio has introduced its fourth-generation battery exchange station in China, marking a significant advancement in its service offerings. The new ‘Power Swap Station 4.0’ boasts a 22% faster swapping process than the previous generation, completing a swap in just 144 seconds. The improved efficiency of the fourth-generation station is a notable upgrade, with the ability to perform up to 480 changes per day, thanks to an enlarged compartment for 23 batteries. This is a significant increase from the third-generation stations, which could hold around a dozen batteries. Additionally, the ‘Power Swap Stations 4.0’ are equipped with six ultrawide FOV LiDARs…

Zeekr has disclosed its first-quarter financial results, marking its initial earnings report following its debut on the US stock market. The company’s performance has sparked investor enthusiasm, leading to a surge in its pre-market share prices. For the first quarter, Zeekr reported a net loss of RMB 2.02 billion ($280 million), representing an 18 percent decrease from the same period last year and a 31.2 percent decline from the previous quarter. The company’s non-GAAP net loss, excluding equity incentive expense, also decreased by 17 percent year-on-year and 30.4 percent quarter-on-quarter, amounting to RMB 2.02 billion. Both basic and diluted net…

Melexis, a Belgian semiconductor supplier, has announced a partnership with Chinese car manufacturer NIO to provide current sensor chips for its traction inverter system. This collaboration marks another instance of a European supplier teaming up with a Chinese automaker. The current sensor chips, crucial for converting a battery’s direct current into the alternating current used by an electric motor, will be utilized in all of NIO’s battery electric vehicles. Melexis highlighted its commitment to supporting NIO’s success in the electric vehicle market through the provision of these essential components. “Our current sensor (integrated circuit) ICs, coupled with the expertise of…

SAIC Motor Corp’s electric vehicle unit, IM Motors, is gearing up to unveil its first EREV model early next year, taking direct aim at Li Auto’s popular Li L7 SUV. IM Motors’ initial foray into EREVs comes in the form of an SUV slated for release in the first quarter of 2025, according to a report by local media outlet 36kr, citing sources familiar with the matter. The company’s EREV project, initiated in the latter half of 2023, is strategically focused on capturing a significant market share swiftly, especially with the growing popularity of plug-in hybrid electric vehicles (PHEVs) and…

Nio has projected a significant increase in deliveries for the second quarter, expecting numbers to more than double compared to the same period last year, reaching between 54,000 and 56,000 units. The company also anticipates a near doubling of revenue to approximately $2.3 billion for the three-month period starting April. Despite these optimistic figures, Nio, founded nine years ago, is still operating at a loss. The company reported a net loss of $718 million for the first quarter, a slight improvement from the $772 million loss in the fourth quarter of 2023. Nio’s recent success in boosting sales can be attributed…

China’s new energy passenger car sales experienced a significant rebound in May, following an unexpected drop in April, according to a report from the China Passenger Car Association (CPCA). Wholesale sales of new energy vehicles (NEVs) in China reached an estimated 910,000 units in May, marking a 35 percent year-on-year increase and a 16 percent increase from April. In April, manufacturers with wholesale sales exceeding 10,000 passenger NEVs accounted for 86.6 percent of all wholesale NEV sales, the CPCA noted. The estimated sales for these manufacturers in May totaled 790,000 units. Based on last month’s structure, China’s May passenger NEV…

Nio has received approval to construct a third factory in China, positioning itself to match Tesla’s production capacity in the country. This new facility would increase Nio’s approved production capacity to 1 million cars, nearly on par with Tesla’s massive Shanghai plant, according to sources familiar with the matter. Tesla’s Shanghai plant currently has the capacity to produce 1.1 million vehicles annually, making it the company’s largest manufacturing hub globally. The approval for Nio’s new plant, with a planned capacity of 600,000 units per year, is seen as a significant achievement, especially considering China’s cautious approach to approving new EV…

Xiaomi Auto is set to roll out an over-the-air (OTA) update to SU7 owners on June 6, with one of the key upgrades being the introduction of City NOA (Navigate on Autopilot) to eligible drivers. This update comes as Xiaomi also announced a reduction in the cooling down period for placing SU7 orders, from 7 days to 3 days. The City NOA feature will be available for Xiaomi SU7 cars equipped with the Xiaomi Pilot Max intelligent driving operating system, specifically the SU7 Pro and SU7 Max models. Eligible drivers must have accumulated 1,000 kilometers of safe intelligent driving by…

BAIC BluePark and Huawei’s collaborative effort, the Stelato S9, unveiled at the Beijing Auto Show, is now open for pre-orders in China. The domestic launch is scheduled for the coming months, with pre-sales starting on May 31st. The pricing ranges from 450,000 to 550,000 yuan, approximately 57,000 to 70,000 euros, with the market launch slated for August. The Stelato S9, the first model resulting from the BAIC BluePark and Huawei partnership, shares similarities with the Chery-Huawei Luxeed S7 but boasts larger dimensions. It measures 5,160 mm in length (+189 mm), 1,987 mm in width (+24 mm), and 1,486 mm in…

Leapmotor reported a significant milestone in May, delivering 18,165 vehicles, marking a year-to-date high and coming close to its all-time high at the end of last year. This figure represents a robust 50.65% increase year-on-year and a 21.06% increase from April’s deliveries of 15,005 vehicles. In the January-May period, Leapmotor delivered a total of 66,580 vehicles, reflecting an impressive 112.76% year-on-year growth rate. See also: Leapmotor Restructures Operations, Disbands Overseas Team Following Stellantis Joint Venture The company’s two SUV models, the C11 and C10, were the top performers in May, accounting for 11,992 units or 66.02% of total deliveries. Founded in…

Austria-based contract manufacturer Magna Steyr has confirmed ongoing discussions with several Chinese OEMs regarding the possibility of local electric vehicle (EV) production in Europe. The move comes amidst concerns over potential tariffs that Europe may impose on Chinese imports, prompting automakers to explore local manufacturing options. Magna Steyr, a subsidiary of Magna International, is renowned for its automotive manufacturing capabilities, having produced vehicles for Mercedes-Benz, Jaguar, and Fisker, among others. With the suspension of Fisker Ocean SUV production, Magna is seeking to utilize its production capacity and is considering partnerships with Chinese EV manufacturers. See also: Magna International Misses Analysts’ Estimates,…

Chinese electric vehicle (EV) manufacturer Leapmotor has undergone a significant restructuring, including the dissolution of its overseas business development team, following the establishment of its joint venture, Leapmotor International, with European automaker Stellantis NV earlier this month. In a major shake-up of its marketing system, Leapmotor has disbanded its overseas business unit, with team members reassigned to various departments including vehicle product lines, services, management and marketing, and operations, according to a report by local media outlet 21jingji. See also: Leapmotor International Joint Venture Launched, Bringing EVs in Europe in September The decision to dismantle the overseas business unit may be…

Tesla is gearing up to register its Full Self-Driving (FSD) software with Chinese authorities ahead of its planned launch later this year, Reuters reported, citing sources familiar with the matter. Once the software is registered with China’s Ministry of Industry and Information Technology (MIIT), Tesla will conduct internal testing of FSD on public roads in China, with plans to offer it as an upgrade to Chinese customers in the coming months. The company is also considering a monthly subscription model for the software, priced at approximately $98, in addition to the current one-time fee of RMB 64,000 yuan ($8,840) offered…

Chinese car manufacturer Great Wall plans to shut down its European headquarters in Munich by the end of August, resulting in the dismissal of all 100 employees. While this move signifies the end of the company’s expansion into other European markets, Great Wall has clarified that it does not intend to withdraw entirely from Europe. According to sources cited by German publication Manager Magazin, Great Wall announced this decision to employees and business partners on Tuesday. The closure will include the departure of the entire top management team, including Commercial Director Steffen Cost, who previously worked at Kia. Despite closing…

Japan and the Association of Southeast Asian Nations (ASEAN) are set to collaborate on their first joint strategy for automobile production and sales within the Southeast Asian region, aiming to counter China’s growing influence in the electric vehicle (EV) market, as reported by the Nikkei newspaper on Monday. The plan is to formulate an interim joint strategy extending through approximately 2035, with the economic ministers of Japan and ASEAN members expected to convene as early as September to discuss the details, Nikkei reported, citing unnamed sources. The joint strategy is anticipated to include collaboration in areas such as personnel training,…