RECENT HEADLINES April 30TH
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German Chancellor hopes for mutually beneficial cooperation with ChinA

According to global media reports, German Chancellor Olaf Scholz stated that Germany has no intention of decoupling from China. He expressed his hope that China would provide better opportunities for German businesses, enabling them to make further progress in entering the world's second-largest economy. Scholz emphasized that the German market is open to Chinese automobiles and that the European market must engage in open and fair competition with Chinese cars.

U.S. lawmaker proposes a new bill to prevent Chinese companies from enjoying EV tax benefits
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According to reports from global media, U.S. Representative Carol Miller has introduced a new bill. This legislation aims to refine the definition of foreign entities eligible under Section 30D, which pertains to electric vehicle tax credits. The purpose of this adjustment is to prevent Chinese companies from capitalizing on U.S. tax incentives. This move is part of Representative Miller's broader efforts to safeguard American advanced manufacturing and preserve domestic tax advantages.
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BYD announce new energy pickup truck named “SHARK”
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Recently, BYD officially announced that its first new energy pickup truck will be named "SHARK,"  although the Chinese name has not yet been released. The vehicle is built on a plug-in hybrid system called Dual Mode Off-Road (DMO) and initially targets overseas markets, with an official launch expected soon.
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March European car market: pure electric sales down 11%, Tesla sales plummeted 35%
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According to data released by the European Automobile Manufacturers' Association, the demand in Germany, Sweden, and Norway cooled down, leading to an 11% year-on-year decrease in electric car sales in Europe in March. Among them, electric car sales in Italy dropped by 34%, while those in Germany still declined by 29%. It is worth noting that Tesla's performance in the European market was disappointing, with sales plummeting by 35%.

In March, Chinese car companies' sales share in Europe exceeded 4% for the first time

According to data from the market research firm Dataforce, in March of this year, BMW and Renault emerged as the biggest winners in the European car market, while the market share of Chinese automakers in Europe exceeded 4% for the first time. In March, the total sales of Chinese automakers in the European market reached 57,400 units, surpassing the 53,871 units from the same period last year; their market share was 4.3%, up from 3.9% in the same period last year.

BYD's revenue in the first quarter increased by 4% year-on-year to RMB 124.9 billion 

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Recently, BYD released its financial report for the first quarter of 2024, with a revenue of RMB 124.9 billion, a year-on-year increase of 4%; a gross profit margin of 21.9%, up 4%; and a net profit attributable to shareholders of the parent company of RMB 4.57 billion , a year-on-year increase of 10.6%. In terms of sales, BYD sold 626,263 new energy vehicles in the first quarter, a year-on-year increase of 13.4%; Denza, FangChengBao, and Yangwang brands had a total sales volume of 38,530 units, accounting for 6.2% of total passenger car sales; cumulative sales of new energy vehicles exceeded 7 million units.
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China Passenger Car Association: It is estimated that 1.6 million passenger cars will be sold in April, with 720,000 new energy vehicle

According to preliminary estimates of retail sales by the CPCA, the total market size of narrow-definition passenger cars in April was approximately 1.6 million units, a decrease of 5.3% compared to the previous month. The retail sales of new energy vehicles in April are expected to reach around 720,000 units, maintaining the same market size as the previous month, with a penetration rate of 45.0%.

Renault discusses technology cooperation with Xiaomi and Li Aut

French automaker Renault reported talks with Li Auto and Xiaomi on electric and smart vehicle technologies, opening doors for potential technological collaborations. Renault has already partnered with Chinese automaker Geely on hybrid systems and with tech giants like Google and Qualcomm on smart cockpit technologies.

​Beijing Auto Show: NIO and Lotus's strategic cooperation on battery swapping

NIO Holdings and Wuhan Lotus Technology announced a formal strategic cooperation on battery swapping. According to the agreement, the two sides will engage in comprehensive, multi-level strategic cooperation in the fields involved in the battery swapping industry, including battery standards, swapping technology, battery asset management, and operation, to promote the establishment of a unified battery standard system and co-develop passenger cars adapted to the swapping system.