Author: Daniel Ong

China has unveiled a new carbon-peaking action plan that targets new energy vehicles (NEVs) accounting for 30% of the country’s total vehicle fleet by 2030, reinforcing its long-term strategy to decarbonize the world’s largest automotive market. The State Council released the “15th Five-Year Plan” Carbon Peaking Action Plan, outlining measures to help China achieve its goal of reaching peak carbon emissions before 2030. The target implies that China’s NEV fleet will need to more than double over the next five years. According to the Ministry of Public Security, China had 43.97 million NEVs on the road at the end of…

CATL has signed a strategic cooperation agreement with courier company J&T Express, expanding its presence in China’s heavy-duty truck battery-swapping market through the deployment of battery-swapping solutions for more than 5,000 electric trucks. The agreement marks another step in CATL’s strategy to accelerate the electrification of commercial transport and expand the adoption of its Qiji Energy battery-swapping platform. Battery Swapping for Logistics Fleets Under the partnership, CATL will supply J&T Express with a complete battery-swapping solution, including standardized swappable battery packs, battery swap station equipment, and operation and maintenance services for the company’s heavy-duty electric truck fleet. According to CATL,…

BYD reported higher new energy vehicle (NEV) wholesale sales in June, marking its second consecutive month of year-on-year growth as overseas demand continued to offset weaker domestic sales and production constraints eased. The Chinese automaker sold 403,472 NEVs during the month, an increase of 5.46% from a year earlier and 5.22% higher than May’s total of 383,453 units. Overseas Markets Drive Sales Growth International markets remained BYD’s strongest growth engine in June. The company delivered a record 175,349 vehicles overseas, representing a 94.73% increase year over year and a 9.15% rise from the previous month. Overseas sales accounted for 43.46%…

Xpeng delivered 40,126 vehicles in June, ending five consecutive months of year-on-year delivery declines as new model launches helped drive a sales recovery, according to figures released by the company on Wednesday. The June total was the company’s highest monthly delivery figure so far in 2026, rising 15.93% from a year earlier and 24.78% from May. Second-Quarter Deliveries Meet Guidance Xpeng delivered 103,295 vehicles during the second quarter, within its previously announced guidance range of 100,000 to 106,000 units. Second-quarter deliveries were broadly unchanged from 103,181 vehicles delivered in the same period last year, increasing just 0.11%. Compared with the…

Huawei’s Harmony Intelligent Mobility Alliance (HIMA) is reportedly broadening its battery supplier network beyond long-time partner CATL as the company seeks to reduce costs and strengthen competitiveness in China’s increasingly crowded electric vehicle market. According to a report by Chinese media outlet 36Kr, HIMA brands including Aito, Luxeed and Shangjie are preparing to introduce additional battery suppliers alongside CATL, marking a significant shift in Huawei’s EV supply chain strategy. Aito to add Gotion and CALB batteries The report states that Aito, which has historically relied exclusively on CATL batteries, will begin sourcing battery packs from CALB and Gotion High-tech. Industry…

Shenzhen Bus Group has announced the shortlisted winners for a procurement programme covering 1,220 electric buses in Guangdong Province, with a total tender value of ¥1.071601 billion (approximately €132 million). The procurement process was originally launched on March 2, 2026 and later republished on the Shenzhen Sunshine Procurement Platform on April 17 following adjustments to the tender documentation. The results were publicly announced on May 15, according to Chinabuses. The project is divided into three separate lots covering multiple electric bus categories and vehicle lengths. Lot 1 covers the procurement of 725 low-floor electric buses in the 10- to 11-metre…

Denza, the luxury vehicle brand under BYD, has auctioned a custom-designed Denza Z9GT created in collaboration with Chopard at the amfAR Gala in Cannes. The one-off Denza Z9GT Chopard edition sold for €700,000 ($812,490) during the 32nd edition of the charity event, which is held annually alongside the Cannes Film Festival to raise funds for AIDS research. BYD said the collaboration reflects the company’s strategy of combining automotive technology with European luxury design as Denza expands its presence in overseas premium vehicle markets. The vehicle was presented as a bespoke luxury model incorporating design elements inspired by Chopard’s jewelry and…

Nio reported continued year-on-year delivery growth in April, although shipments declined from the previous month amid ongoing pressure in China’s automotive market. The company delivered 29,356 vehicles in April, up 22.83% from a year earlier, according to figures released on Friday. Deliveries, however, fell 17.27% from March’s total of 35,486 vehicles. See also: Nio Expands Onsemi Partnership to Advance 900-Volt EV Architecture The company’s premium main brand delivered 19,024 vehicles in April, down 1.27% year-on-year and 15.41% lower than the previous month. Nio’s family-focused Onvo sub-brand delivered 5,352 vehicles, representing a 21.64% increase from a year earlier, though deliveries declined…

Chery Group reported first-quarter sales of 601,712 vehicles, with March deliveries reaching 240,678 units, up 12.1% year-on-year, supported by strong export demand and continued expansion in electric vehicles. Exports remained a key growth driver, with nearly 150,000 vehicles shipped overseas in March, marking a monthly record for Chinese brands. Total exports for the quarter rose 53.9% year-on-year to 393,311 units. The company has now exceeded 100,000 monthly exports for 11 consecutive months, accounting for roughly one in five Chinese vehicles sold abroad. Chery’s international expansion is gaining traction in more regulated markets. The company said it has entered 18 European…

Chinese automaker Geely Auto reported March vehicle sales of 233,031 units, marking a marginal increase of 0.37% year-on-year, as strong export growth helped offset softer domestic demand. Sales rose 13.03% from the previous month, reflecting a recovery from seasonal weakness earlier in the year. The data highlights a continuing trend in which stable overall volumes mask diverging performance across brands and powertrain segments. The core Geely brand recorded sales of 178,287 units in March, down 6.88% year-on-year but up 15.07% from February. The Geely Galaxy lineup delivered 82,744 units, declining 8.09% year-on-year while increasing 13.15% month-on-month, marking its third consecutive…

Voyah, the premium electric vehicle brand of Dongfeng Motor Group, began trading on the Hong Kong stock exchange on Thursday, marking a strategic shift in the parent company’s financing approach. The stock, listed by introduction under code 07489, fell 6.4% in early trading to HK$7.02, after fluctuating between a high of HK$7.50 and a low of HK$6.40. The listing gives Voyah a market capitalisation of about HK$26 billion ($3.3 billion). Unlike a traditional initial public offering, the listing by introduction means Voyah did not issue new shares or raise capital. The move follows Dongfeng’s decision in August 2025 to privatise…

Chery Automobile reported a 34.6% year-on-year increase in net income to 19.02 billion yuan ($2.77 billion) for 2025, supported by record global vehicle deliveries and steady revenue growth, the company said. Total revenue rose 11.3% to 300.29 billion yuan, while global deliveries reached 2,631,381 vehicles, up 8% compared with 2024, according to its financial report. Despite intensifying competition in China’s passenger vehicle market, Chery improved its overall gross margin to 13.8% in 2025 from 13.5% a year earlier. However, margins in its core passenger vehicle segment declined to 12.8% from 13.2%, reflecting the growing contribution of new energy vehicles (NEVs),…