Author: Linda Ma

Nio has inked a strategic cooperation agreement with Zhejiang EV-Tech Co Ltd, a local component supplier backed by Nio Capital, to co-develop and manufacture components for high-voltage system applications. The agreement, signed on March 1 in Shanghai, where Nio is headquartered, focuses on a high-voltage system project. According to EV-Tech, the collaboration will center on developing products based on Nio’s STEM Young high-voltage architecture platform. See also: Nio Expands NOP+ Driving Feature to Cover All Roads Nationwide in China The partnership aims to create intelligent power units (IPUs) that can be shared across different vehicle models, enhancing product development efficiency and…

Li Auto has unveiled its inaugural battery electric vehicle (BEV), the Li Mega MPV (Multi-Purpose Vehicle), at a grand launch event in Beijing, the company’s headquarters. Currently, the Li Mega is exclusively offered in the Max trim, starting at RMB 559,800 ($77,770), marking it as Li Auto’s most expensive model to date. The Li Mega is a seven-seat MPV, boasting dimensions of 5,350 mm in length, 1,965 mm in width, and 1,850 mm in height, with a wheelbase of 3,300 mm. See also: Li Auto CEO Expects Strong Sales for Li Mega BEV, Sets Ambitious Targets for 2024 Its exterior design…

IM Motors, the premium electric vehicle brand backed by state-owned Chinese automaker SAIC, announced on Friday that it has secured more than 8 billion yuan ($1.1 billion) in funding to develop new smart car models and technologies. The Series B round of equity financing is one of the largest investments in Chinese EV brands in the past two years, following Abu Dhabi-based CYVN’s $3 billion investments in NIO and Stellantis’ $1.6 billion purchase of a 21% stake in Leapmotor. See also: IM Motors Unveils 2024 L7 Sedan with Lower Price and Upgrades in China’s EV Market Established in 2020 by SAIC,…

ClearMotion, a US suspension startup backed by Nio Capital, has inaugurated its production facility in Changshu, Jiangsu province, marking a significant step towards mass production of active suspension products for Nio’s flagship sedan, the ET9. The facility, which officially opened on February 29, signifies ClearMotion’s commitment to bringing vehicles equipped with its active suspension technology into full-scale production, the company announced in a statement yesterday. See also: Nio Strikes Technology License Deal with Forseven Limited The ET9, unveiled at Nio Day in December 2023, will be the first vehicle to feature ClearMotion’s technology, according to the startup. The opening of the…

Chinese power battery giant CATL’s M3P battery is poised to make its way into Tesla’s (NASDAQ: TSLA) vehicles, following its successful integration into a model jointly developed by Chery and Huawei, as reported by local media. Responding to investor queries on February 28, CATL confirmed that its M3P batteries are already being utilized in a model co-developed by Chery and Huawei, with plans to expand its use to other customers, as reported by The Paper today. See also: CATL to Begin Mass Production of New M3P Battery Technology, Promising Improved Performance and Lower Costs While CATL is still in the process…

In a recent statement, Ouyang Minggao, an academician of the Chinese Academy of Sciences, predicted a significant rise in the popularity of New Energy Vehicles (NEVs) in China. He anticipates NEVs to account for 40 percent of total new car sales in 2024 and approximately 50 percent by 2025. Last year, NEV sales in China reached 9.49 million units, comprising 31.6 percent of new vehicle sales, according to the China Association of Automobile Manufacturers. See also: China’s New Energy Vehicle Sales Experience January Slump Amid Seasonal Trends Ouyang, who also serves as vice-president of the China EV 100, projects that by…

Chinese automaker BYD has announced that it has no plans to sell passenger electric vehicles (EVs) in the United States, citing the market’s complexity and political challenges. According to Stella Li, executive vice president and CEO of BYD Americas, while the US market is “interesting,” conflicting politics make it too complicated for BYD to enter. Li made the comments during an interview with Yahoo Finance Anchor Akiki Fujita, where she discussed BYD’s global EV strategy. Li confirmed that BYD will announce a new manufacturing facility in Mexico, likely in the second half of the year, but emphasized that the facility…

German automaker Volkswagen and Chinese electric vehicle (EV) partner XPeng announced on Thursday their plans to jointly develop an SUV as their first collaborative project. The companies have signed a “master agreement” for platform and software collaboration, aiming to reduce costs through a joint sourcing program for platform and vehicle parts used by both partners. This development marks a significant step in their partnership, which was initiated in July when Volkswagen acquired 4.99% of XPeng for approximately $700 million. The purchase was finalized in December, with plans to jointly launch two EV models by 2026. See also: XPeng and Volkswagen…

BYD has announced the launch of two updated models from its Ocean series, the Song Plus Glory Edition and the Seal DM-i Glory Edition. These updates follow a trend set earlier this month, with BYD significantly reducing the starting prices of these models. Part of BYD’s Ocean series, these models join the brand’s other popular lineup, the Dynasty series, which recently saw updates to its flagship models, the Han and Tang, now also available in Glory Editions. See also: BYD Unveils Lower-Priced Han Sedans and Tang SUVs in China’s Auto Market The Song family, however, presents a unique challenge in BYD’s…

Svolt Energy’s battery plant in Thailand has commenced mass production, the battery manufacturer, spun off from Great Wall Motor, announced today. The plant has initiated bulk deliveries of products and will soon integrate them into several new energy vehicle (NEV) models in Thailand under Great Wall Motor’s Ora, Tank, and Haval brands, as well as models from Hozon New Energy Automobile, the parent company of Neta Auto. While the plant’s exact capacity was not disclosed in the release, Svolt Energy anticipates supplying more than 20,000 battery packs to local customers this year, based on demand from customers. See also: BMW to…

Zeekr has unveiled the updated Zeekr 001 shooting brake model, aiming to maintain its competitiveness in the market through upgraded specifications and reduced prices amid intense price competition. The 2024 Zeekr 001 was launched at an event in Hangzhou, Zhejiang province, where Zeekr is headquartered. The new model comes equipped with an 800 V electrical system, a key feature of premium models launched in recent months, such as the Zeekr 007. See also: Zeekr Celebrates Milestone with 10,000th 007 Sedan Produced in Just 56 Days Most electric vehicles introduced in recent years have utilized the mainstream 400 V platform. The higher…

China’s state-owned Chongqing Changan Automobile Co Ltd is reportedly in discussions to acquire struggling Chinese electric vehicle manufacturer Human Horizons, according to a report by financial news outlet Yicai. The news was revealed by Changan Chairman Zhu Huarong. Ding Lei, the founder of Shanghai-based Human Horizons known for its Hiphi-branded EVs, met with Zhu in Chongqing on February 27, as per Yicai, citing an unnamed source. See also: Human Horizons’ HiPhi Brand Halts Production Amid Operational Challenges Changan Auto acknowledged the meeting between Ding and Zhu in response to Reuters but refrained from commenting on the reported acquisition or merger talks.…

Huawei, renowned for its smartphones, is making significant strides in the electric vehicle (EV) charging infrastructure sector. According to a report by Nikkei Asia, the tech giant plans to deploy 100,000 fast charging stations across China this year in collaboration with partners, targeting locations such as shops and motorway service stations. While Huawei’s entry into the EV business was announced in 2021, focusing on automated electric cars, the move into charging infrastructure marks a new chapter. Collaborations with Chinese OEMs like Changan and Chery have already been established, showcasing Huawei’s commitment to the electric mobility sector. See also: Mercedes-Benz Expands Fast-Charging…

SAIC Motor Corp’s electric vehicle (EV) arm, IM Motors, has unveiled the 2024 L7 sedan with a significantly reduced starting price and enhanced features, amid escalating competition in China’s EV market. The refreshed flagship sedan was launched on February 24, offering four variants priced at RMB 299,900 ($41,700), RMB 349,900, RMB 389,900, and RMB 419,900, respectively. Previously, the model was available in three versions starting at RMB 338,800, RMB 368,800, and RMB 408,800. This marks a substantial decrease of RMB 38,900, or 11.5 percent, in the starting price of the updated L7. IM Motors commenced deliveries of the L7 in…

Nio has inked a technology license agreement with Forseven Limited, a subsidiary of CYVN Holdings L.L.C., aimed at leveraging Nio’s smart electric vehicle platforms for Forseven’s upcoming vehicle models. The agreement grants Forseven a non-exclusive and non-transferable worldwide license to utilize Nio’s existing and future technical information, solutions, software, and intellectual property rights related to its smart electric vehicle platforms. See also: Nio Incorporates Humanoid Robots for Enhanced Automation in EV Assembly Line This agreement enables Forseven to develop, manufacture, sell, import, and export vehicle models under the Forseven brand, with certain pre-agreed manufacturer’s suggested retail price (MSRP) thresholds. In return…

Volvo Cars’ President and CEO, Jim Rowan, underscored the significant role China plays in Volvo’s global strategy, stating that it extends beyond being the Swedish premium carmaker’s largest market. Rowan made these comments on Wednesday during his visit to Shanghai for the groundbreaking ceremony of the fourth phase of Volvo Cars Asia Pacific Headquarters, which will house a battery center and training facility. “China is far more than just an important market for Volvo’s development,” Rowan emphasized. See also: Volvo Cars to Reduce Stake in Polestar to 18%, Sells 48% Shares to Shareholders China stands as Volvo’s largest market, with over…

BYD’s premium brand Yangwang has unveiled its latest offering, the U9 electric supercar, at a launch event in Shanghai. This marks the second production vehicle from the new brand, following the U8 off-road SUV. The Yangwang U9, priced at RMB 1.68 million ($233,500), is a 2-seat model that boasts impressive specifications. It measures 4,966 mm in length, 2,029 mm in width, and 1,295 mm in height, with a wheelbase of 2,900 mm. Powered by a battery electric vehicle (BEV) with four motors, each delivering a peak power of 240 kW and a combined peak power of 960 kW, the U9…

BYD is set to launch updated versions of its Han sedan and Tang SUV, the flagship models of its Dynasty lineup, in just three days, intensifying the price war in the mid-to-high-end electric vehicle (EV) market. The unveiling event for the Glory Edition models of the Han and Tang will kick off at 3 pm Beijing time on February 28, as announced by BYD today on Weibo. According to BYD’s poster, the models will feature new white, purple, and blue exterior options, hinting that they will be priced lower than their gasoline counterparts. See also: BYD Unveils Updated Dolphin Electric Hatchback…

Tesla has initiated a recall of thousands of vehicles in China due to a software issue affecting the reverse camera, which may fail to display images correctly, according to an announcement by China’s State Administration for Market Regulation (SAMR). The recall affects 1,071 imported Model S and Model X electric vehicles with production dates ranging from January 27, 2023, to January 7, 2024, as well as 7,629 locally produced Model 3s with production dates from September 12, 2023, to January 12, 2024. See also: Tesla Model 3 Long Range AWD Sees Third Price Increase This Month The announcement states that some…

Xpeng has announced dealer partnerships in five additional countries, marking a significant expansion of its international presence beyond Europe and Israel. The Chinese electric vehicle (EV) maker will bring its vehicles to consumers in the United Arab Emirates, Egypt, Azerbaijan, Jordan, and Lebanon through branded showrooms and customer support. The partnerships in the five countries are as follows: UAE: Ali&Sons Egypt: RAYA Azerbaijan: SR Group Jordan: T Gargour and Fils Lebanon: Gargour Asia SAL Xpeng will start deliveries of its P7 sedan and G9 SUV in Jordan and Lebanon in the second quarter, and in Egypt in the third quarter.…