Author: Linda Ma

Li Auto, a player in China’s electric vehicle (EV) market, has reported another impressive month of deliveries, setting a new record for the company. However, the growth rate has slightly slowed down due to ongoing capacity bottlenecks. According to data released by the company today, Li Auto successfully delivered 34,914 vehicles in the month of August. This figure represents a 2.29 percent increase compared to July and a staggering 663.82 percent surge year-on-year. Li Auto’s current lineup includes the Li L7, a five-seat model, and the Li L8 and Li L9, both six-seat extended-range electric vehicles (EREVs), essentially functioning as…

BYD, the renowned Chinese automaker, has officially unveiled its latest Tang family models in the Chinese market. This follows the commencement of pre-sales earlier this month at the prestigious Chengdu auto show. The new Tang lineup continues to offer both Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV) versions, catering to a diverse range of consumer preferences. In the PHEV category, customers can choose between the more fuel-economy-focused DM-i version and the performance-oriented DM-p version. This strategic move allows BYD to address the varying demands of the rapidly growing Chinese electric vehicle market. See also: BYD officially enters…

Tesla has commenced pre-sales for its redesigned Model 3 in China, featuring a refreshed exterior and interior design. The updated sedan, speculated to be referred to internally as “Highland,” was unveiled on Tesla’s Chinese website, capturing attention with its fresh appearance and improved features. According to a recent announcement on Tesla’s Weibo account, the pre-sale for the revamped Model 3 officially began today, revealing a starting price of RMB 259,900 yuan ($35,850). This marks a noticeable increase from the previous starting price of RMB 231,900 for the Model 3 in China. The new price tag represents a 12 percent rise,…

Chinese startup Inceptio is projecting a significant surge in the adoption of its driver-assist technology among trucks in China, with the number of equipped vehicles expected to quadruple by mid-2024 from the current count of approximately 600. The company is also gearing up to expand its operations internationally, targeting overseas sales commencing next year. Inceptio’s advanced technology facilitates the completion of long-haul trucking journeys by a single driver, eliminating the need for a customary two-driver arrangement. This innovation has the potential to curtail hauling expenses by an estimated 5% to 7%, bolstering operational efficiency. Operating under its prevailing business model,…

SAIC Motor Corp, in partnership with QingTao Energy Development, a solid-state battery startup it backs, has revealed plans to establish a joint venture aimed at manufacturing advanced solid-state batteries. The collaboration was announced by SAIC on the previous evening, outlining a strategic venture with a registered capital of RMB 1 billion ($137 million). QingTao Energy will contribute RMB 510 million for a 51 percent stake, while SAIC will invest RMB 490 million for a 49 percent stake. This investment structure mirrors a common practice among battery manufacturers and automobile companies. Notably, China’s leading power battery manufacturer, CATL, often holds a…

Chinese electric car manufacturer Seres has formalized a strategic collaboration with Bosch China. The partnership encompasses a multifaceted approach, spanning vehicle safety systems, driver assistance technologies, powertrain electrification, and more. According to details outlined in the agreement, Seres Auto and Bosch China will jointly explore fresh avenues in material applications and the supply of components within the realms of vehicle safety, automation functionalities, driver assistance systems, powertrain solutions, and electrification. Additional focus will also be directed towards technology and service provisions for the post-sales market, as reported by the Gasgoo portal. Although the specifics regarding powertrain solutions remain unspecified, the…

Electric vehicle manufacturer Nio faced a decline in its second-quarter performance for 2023, with a total delivery of 23,520 electric cars. This marks a 6.1% decrease compared to the same period last year, and a more significant drop of 24.2% from the preceding quarter. The company’s sales figures followed suit, reflecting the downward trend. However, prospects for a turnaround appear promising in the upcoming third quarter. In the April-June period, Nio recorded sales amounting to approximately 8.8 billion yuan (1.1 billion euros), reflecting a 14.8% dip from the second quarter of 2022, and a notable 17.8% decrease from the preceding…

Neta Auto, the Chinese new energy vehicle (NEV) subsidiary of Hozon Auto, has successfully concluded its latest round of funding. The company confirmed that it raised a significant amount of RMB 7 billion (approximately $960 million) through a Crossover funding round. While specific details about the investors and terms of the funding were not disclosed, this funding marks a notable development for the company’s financial prospects. The Crossover funding round stands apart from the more conventional Series A, B, and C rounds. It often serves as a prelude to a potential public offering and involves investment from individuals and entities…

Chinese automobile manufacturer Changan has taken the automotive world by storm with the introduction of its new electric and hybrid car brand, Qiyuan. In a bid to solidify its position in the ever-expanding electric vehicle (EV) market, Changan has set an ambitious target of achieving annual sales of 1.5 million Qiyuan vehicles by 2030. The company also aims to roll out an impressive ten product offerings under the Qiyuan brand by 2025. This significant unveiling occurred over the weekend, marking Changan’s strategic push into the EV sector. The Qiyuan lineup comprises three distinct series: ‘A’, ‘Q’, and ‘E0’, with a…

Buick, a prominent name in the automotive industry, has recently unveiled a noteworthy addition to its successful electric vehicle lineup in China – the Velite 6 compact wagon. This enhanced variant boasts several improvements, including an upgraded powertrain, a simplified range structure, and competitive pricing. While retaining the availability of the existing plug-in hybrid (PHEV) and battery electric vehicle (BEV) editions of the Velite 6, the new iteration stands out with its innovative lithium iron phosphate (LFP) battery pack. Boasting a capacity of 50.3 kilowatt-hours, this battery equips the vehicle with an impressive range of up to 267 miles (430…

Zeekr, the electric vehicle manufacturer, achieved a significant milestone as the first consignment of Zeekr 001 shooting brake models embarked on its journey to the Netherlands. This marked the company’s inaugural step into international markets, signifying Zeekr’s strategic expansion into the European automotive sector. In a collaborative effort with Zeekr’s China Europe Vehicle Technology Centre (CEVT) design team, the European version of the Zeekr 001 has been meticulously tailored to meet the stringent five-star crash requirements mandated in Europe. This underscores Zeekr’s commitment to prioritizing safety and adhering to local regulations, while also adapting design elements and features to cater…

Shares of Chinese electric vehicle (EV) manufacturer Xpeng (NYSE: XPEV) experienced a notable 14.36 percent surge in early Hong Kong trading, reaching HK$74.45 and marking its highest level since August 7. The surge, the most significant one-day gain since July 27, comes hot on the heels of Xpeng’s announcement of its acquisition of the EV business of Didi Global, a prominent Chinese ride-hailing giant. In a strategic move, Xpeng unveiled its agreement to purchase the assets pertaining to Didi’s smart car development business. The acquisition will encompass various aspects including research and development, design, and engineering of novel smart electric…