Li Auto unveils impressive Q2 2023 financial report
In a recent announcement, Li Auto disclosed its Q2 2023 financial results, marking a remarkable achievement. The company recorded a staggering revenue of RMB 28.65 billion, reflecting an impressive YoY growth of 228.1%. With a quarterly delivery volume of 86,533 vehicles, the company saw a robust YoY increase of 201.6%. Operating profit surged to RMB 1.63 billion, with a net profit of RMB 2.31 billion. The Q2 gross profit margin maintained steady growth, reaching 21.8%, and the company achieved a free cash flow of RMB 9.62 billion.

BYD to celebrate the production of 5 millionth NEV

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BYD recently announced that the ceremony for the production of its 5 millionth new energy vehicle will take place on August 9th, with expectations high for a significant addition to the company’s vehicle lineup. The journey of BYD's new energy vehicles has been remarkable, reaching the first million in 13 years, the second million in just one year, and the third million in a mere six months. This time, the leap from three to five million vehicles has been accomplished in less than nine months.

Tesla wins RMB 300,000 in China

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In a recent legal judgment, a used car dealer has been found guilty of false advertising for utilizing Tesla branding and making misleading claims such as being the "Exclusive National Chain Dealer of Used Tesla Cars" on their posters. The court has ordered the used car dealer to immediately cease infringing on the plaintiff's registered trademark rights, halt all false advertising that constitutes unfair competition, and compensate Tesla with RMB 300,000 for economic losses and reasonable legal expenses incurred in protecting their rights.
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Tesla's CFO departs

Zachary Kirkhorn, former Chief Financial Officer of Tesla, has reportedly left the company, according to Bloomberg. Kirkhorn, previously seen as a top contender to succeed Elon Musk as CEO, has sparked renewed speculation about Tesla's management succession plans with his departure.
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Zhejiang aims to establish over 2.3 million charging stations by 2025

Recently, the Zhejiang Provincial Government Office released the "Action Plan for Enhancing High-Quality Charging Infrastructure Network to Promote New Energy Vehicles in Rural Areas." The plan outlines an ambition to establish over 2.3 million charging piles across the province by 2025, with at least 900,000 in rural areas. Among these, 120,000 will be public charging piles, and at least 20,000 will be in rural regions, effectively catering to the charging needs of over 4 million new energy vehicles.
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