RECENT HEADLINES DECEMBER 30TH
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Delivery to start post-new year of JAC VW’s sodium battery vehicle 

Today, JAC Volkswagen's mass-produced sodium-ion battery vehicle rolled off the production line, with bulk deliveries set to begin after New Year's Day in 2024. It is reported that the mass-produced model is equipped with sodium-ion cylindrical cells supplied by HiNa Battery and utilizes JAC’s unique honeycomb battery structure, which possesses inherent safety characteristics that prevent self-ignition.

BYD plan to open ev factory in hungary 

BYD has revealed plans to open its first European electric vehicle (EV) factory in Szeged, Hungary, marking a milestone as the first Chinese automaker to produce passenger cars in Europe. This move signifies BYD's strategic expansion and commitment to the growing European EV market, aiming to leverage the region's increasing demand for sustainable transportation solutions and enhance its global presence in the automotive industry.

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NIkola ceo receives prison 4 year term

Trevor Milton, the founder and former CEO of Nikola Corp., has been sentenced to four years in prison after being found guilty of defrauding investors. The charges stemmed from allegations that Milton had exaggerated the technological capabilities and progress of Nikola's electric trucks, leading to a misleading portrayal of the company's potential and advancements in the electric vehicle industry. The case highlighted the growing scrutiny over claims made by emerging technology and EV companies as investors and regulators demand greater transparency and accountability​

China's charging reaches 1:1 vehicle-to-pile ratio

Cui Dongshu, Secretary-General of the China Passenger Car Association, stated that from January to November 2023, the number of public charging piles increased by 890,000, a 50% increase compared to the same period last year. Additionally, the number of private charging piles increased by 2.42 million since the end of 2022, a 71% increase year-on-year. Currently, based on the calculation of 1 public charging pile for every 3 private ones, China's market addition of pure electric vehicles in 2023 has reached a 1:1 vehicle-to-pile ratio, leading other countries by several times.

AITO reports target of 600,000 units for 2024, the M8 expected to launch in second half of next year

According to reports, AITO has set a sales target of 600,000 vehicles for 2024. In addition, the Chinese electric vehicle marque of Huawei and Seres, plans to launch the new M5 in the first half of next year and the brand new M8 model in the second half. Earlier this year, Seres signed a joint business deepening cooperation agreement with Huawei, where both parties set a goal to produce and sell 1 million new energy vehicles by 2026.

Pre-sales Starting at under $30,000, the Zeekr 007 to launches 

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The new all-electric sedan from Zeekr, the 007, will officially hit the market. The vehicle is built on an 800V architecture and equipped with a Snapdragon 8295 chip. The electric sedan features a high-level intelligent driving assistance system, can achieve a maximum range of up to 870 km, and can accelerate from 0 to 100 km/h in as little as 2.84 seconds. The  007 sedan will sell for under $30, with reportedly over 50,000 pre-orders already.
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Xiaomi enter the EV market with the SU7

China phone maker Xiaomihave entered the EV market with an electric sedan titled the SU 7. The EV is set to compete with Porsche’s Taycan and Tesla’s Model S, its stats include: Up to 745 mile CLTC range,  150 kW cell to body pack (CATL), 800v, 136 miles of charge in 5 mins and 0-62mph in as little as 2.78s

NIO receive Us$2.2 billion investment from cyvn

An investment entity backed by the Abu Dhabi government, CYVN Holdings, has made a major move into the Chinese electric vehicle market by investing US$2.2 billion in Nio. This transaction marks a significant first as it represents the initial substantial investment from the Middle East in a Chinese EV manufacturer. Nio, recognized as a leading name in China's premium electric vehicle sector, confirmed the agreement with CYVN Holdings via its subsidiary CYVN Investments RSC. In this deal, CYVN will acquire 294 million new shares in Nio at US$7.50 per share, culminating in a total ownership stake of 20.1%. The agreement is set to finalize in the last week of December. Alongside the financial investment, CYVN will gain the right to appoint two directors to Nio’s board, provided it retains at least a 15% interest in the company's total shares.