Author: Linda Ma

BYD is set to integrate Huawei’s advanced smart driving system into its Fang Cheng Bao sub-brand’s upcoming Bao 8 model. This collaboration marks the first time BYD will utilize Huawei’s technology in the smart driving domain, according to a report by local media outlet LatePost. The Bao 8 will be the inaugural model from Fang Cheng Bao to feature city NOA (Navigate on Autopilot) capabilities, powered by Huawei’s Qiankun ADS 3.0 system. This development follows the official unveiling of the Fang Cheng Bao brand on August 16, 2023, with the launch of its first model, the Bao 5 off-road SUV,…

China-based autonomous driving startup WeRide announced on Friday its intention to seek a valuation of up to $5.02 billion in its upcoming initial public offering (IPO) in the United States. The company plans to raise up to $119.4 million by offering 6.45 million American depositary shares at a price range of $15.50 to $18.50 per share. The IPO comes at a time when the Biden administration is expected to propose new regulations that could potentially restrict the use of Chinese software in autonomous vehicles in the U.S. This regulatory uncertainty adds to the challenges facing self-driving technology, which continues to…

Nio has reached a significant milestone in its battery swap service, completing its 50 millionth battery swap as of August 5, 11:33 pm Beijing time. The achievement means that Nio’s battery swap stations have collectively delivered 2.62 billion kWh of electricity, equivalent to powering over 1.31 million households for one year. The company reports that nearly 60% of the energy used by Nio vehicles now comes from these battery swap stations. https://evmagz.com/nio-introduces-fourth-generation-battery-swap-stations-with-22-faster-swapping/ Nio’s battery swap service has reportedly saved users more than 2.85 billion minutes compared to conventional public charging, and has generated savings of over RMB 20.3 billion yuan…

The London Electric Vehicle Company (LEVC), known for its iconic London taxis, has received a £120 million capital infusion from its Chinese parent company, Geely. The funds will support the development of LEVC’s SOA (Space Oriented Architecture) electric car platform. Geely’s investment was made in two phases: £70 million in October and an additional £50 million in May. This financial boost will be directed towards the production of the new L380 electric van, which uses the SOA platform. The L380 has been available in China since late June and is expected to be launched in the UK in the future.…

CATL, a leading global battery manufacturer, has announced a significant investment in Autoflight, a Chinese startup specializing in electric vertical takeoff and landing (eVTOL) technology. The deal, valued at hundreds of millions of dollars, marks CATL’s first public investment in the eVTOL sector. The investment was disclosed in a press release from Autoflight on August 3, which described the move as a strategic partnership aimed at enhancing eVTOL battery technology. “This investment reflects CATL’s recognition of Autoflight’s competitiveness and long-term growth potential in the eVTOL space,” the release stated. Under the terms of the agreement, CATL and Autoflight will collaborate…

Li Auto achieved record vehicle deliveries in July, driven by continued strong sales of its entry-level Li L6 model. The Chinese automaker reported delivering 51,000 vehicles last month, marking the second instance of surpassing the 50,000-unit threshold, following 50,353 deliveries in December of the previous year. This figure represents a 49.41 percent increase from 34,134 vehicles delivered in July 2023 and a 6.75 percent rise from 47,774 units in June 2024. Year-to-date, Li Auto has delivered a total of 239,981 vehicles, reflecting a 38.52 percent increase compared to the same period last year. As of the end of July, the…

Xpeng is set to launch its new S5 fast charging station in the third quarter of 2024, which will offer up to 800 kW of power. This new charger will surpass the company’s current most powerful charger, the S4 column, which debuted in 2022. The S5 Supercharger, featuring liquid cooling, will deliver a maximum output current of 800 amps and a maximum output voltage of 1,000 volts, according to a report by CN EV Post. He Xiaopeng, Chairman and CEO of Xpeng, highlighted these details during a live-streamed technology event. https://evmagz.com/xpeng-unveils-p7-model-promising-technological-advancements/ Scheduled to become operational in Q3 2024, the S5…

Chinese smartphone manufacturer Meizu, owned by Geely Group, plans to launch its first electric car this year, based on the Geely SEA platform. This move follows similar ventures by Huawei and Xiaomi into the electric car market. At the ChinaJoy 2024 trade fair, Meizu’s COO, Liao Qinghong, confirmed the launch of Meizu Automobile within the year. “The vehicles would differ from those of conventional car manufacturers in the way they function,” said Qinghong. https://evmagz.com/meizu-geely-applied-for-trademark-wujie-auto-for-next-car-brand/ Meizu joins competitors Xiaomi, whose SU7 model has been available since spring, and Huawei, which has entered joint ventures with various car manufacturers as part of…

Xiaomi is set to meet its annual delivery goal for its SU7 electric vehicle (EV), bolstered by recent expansions at its new Beijing factory. The company’s first foray into the automotive industry with the SU7 has seen strong demand since its launch earlier this year. In response to a surge in interest, Xiaomi raised its delivery target by 20% in May. According to CNEVPost, Xiaomi’s SU7 delivery schedule is now two months ahead of plan. With its newly completed highly automated plant in Beijing ramping up production, Xiaomi anticipates delivering 100,000 SU7 units by early November. Xiaomi’s founder and CEO,…

Nio has decided not to enter the robotaxi market, even as competitors like Xpeng and Tesla plan to venture into this space. William Li, Nio’s founder, chairman, and CEO, dismissed the business model as unappealing during an interview following the Nio IN 2024 event in Shanghai. “Robotaxi is not an exciting business model, and Nio is determined not to enter the space,” Li stated. He emphasized that smart driving technology should be utilized to reduce accidents and alleviate driver fatigue. “Robotaxi’s technology will definitely mature… but will it really necessarily be a sustainable business? No, you’re overthinking it,” Li remarked.…

Chinese electric vehicle battery manufacturer CATL (300750.SZ) recorded a 13.4% increase in net profit for the second quarter, reaching 12.36 billion yuan ($1.70 billion), despite a 13.2% decline in revenue to 87 billion yuan. The results, disclosed in a stock filing on Friday, contrasted with UBS’s forecast of 10.41 billion yuan in profit, which anticipated a 4.5% decrease. The decline in revenue marks the third consecutive quarter of shrinking revenue, exacerbating from a 10.4% drop in the first quarter. The mixed earnings reflect a cooling in China’s EV market amid a sluggish economic recovery. In June, growth in EV sales…

Volkswagen (VW) and Xpeng are broadening their technical collaboration to integrate their E/E (Electric/Electronic) architecture into a wider range of electric vehicles. Beginning in 2026, this advanced architecture will be incorporated not only into VW’s China-specific CMP (China Modular Platform) but also into all VW brand models utilizing the global MEB (Modular Electric Drive) platform tailored for the Chinese market. Initially announced in July 2023 and finalized in February 2024, the original agreement focused on incorporating the E/E architecture into at least four electric models based on the CMP, developed at VW’s eMobility Development Centre (VCTC) in China, independent of…