Denza N7 hits the market with six models
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Denza N7 officially launched recently, introducing a total of six models, including two entry-level versions known as the Air edition, which do not come equipped with the DiSus Intelligent Body Control System. The price range for the new car is between $41,800 and $52,600. Currently, Denza N7 display vehicles have been fully showcased in nationwide showrooms, and it is expected that official deliveries will commence in mid-July."
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New Volvo S60 and S60 Plug-in Hybrid models officially hit the market
Recently, the new Volvo S60 and S60 Plug-in Hybrid models were officially launched. The new Volvo S60 is available in four variants, with prices ranging from RMB $42,500 to 384,900. The new S60 Plug-in Hybrid models are offered in two variants, with prices ranging from $55,000 to $64,000.
Tesla breaks delivery records in Q2 with Over 466,000 EV delivered
Recently, Tesla released its production and delivery report for the second quarter, revealing impressive figures. During this quarter, Tesla produced nearly 480,000 electric vehicles worldwide, marking an approximate 86% year-on-year increase. Moreover, the company delivered over 466,000 electric vehicles, showcasing a remarkable growth of approximately 83% compared to the previous year. These numbers have shattered Tesla's previous record for single-quarter deliveries.
Volkswagen & FAW-Volkswagen to invest RMB800 Million in CAMS
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Volkswagen Group (China) recently announced a partnership with FAW-Volkswagen to jointly invest approximately RMB 800 million in CAMS aiming to accelerate the expansion of their charging network in China and enhance customer experience. By 2025, CAMS plans to build 17,000 fast-charging stations nationwide.
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Tesla's "Project Highland" Model 3 enters trial production in Shanghai
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Recently, Tesla's codenamed "Project Highland" new model, the Model 3, has commenced small-scale trial production at the Shanghai factory. The global debut of the model is scheduled for July this year. Additionally, mass production of the new vehicle is set to begin in September, with deliveries expected to start gradually by early 2024.
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Recalls of passenger vehicles reach a new low in China
As of June 2023, a total of 29 domestic brands have recalled 2,474,448 passenger vehicles in China, marking a slight decrease of 2.76% compared to the previous year and reaching the lowest level since 2015. Brands such as Tesla, NIO, Polestar, Mercedes-Benz, and BMW have all issued recalls for their pure electric vehicle models, indicating that new energy vehicles have become a mainstream focus of recalls.
BYD to establish Its own factory in Brazil
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According to global media reports, Tyler Li, the head of BYD's subsidiary in Brazil, announced in São Paulo that BYD will establish its own factory in Brazil. The company is currently in negotiations with local authorities of the state of Bahia and federal government officials regarding the establishment of the factory. The anticipated annual production capacity of this facility is around 150,000 vehicles.
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Zeekr launches European Pre-Sales for 001 and Zeekr X
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Zeekr, the Geely backed premium EV brand, recently announced the official start of European pre-sales for two of their models, the 001 and the Zeekr X. The Zeekr 001 is priced at 59,490 euros, while the Zeekr X starts at 44,990 euros. It is understood that these two new vehicles will be first available for sale in Sweden and the Netherlands, with the first deliveries expected to commence within this year.
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Chinese automobiles gain popularity in the Middle East
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Chinese automobiles are increasingly penetrating the Middle Eastern market, becoming the preferred choice for consumers in countries such as Saudi Arabia, the United Arab Emirates, and Egypt. In 2022, Chinese brand car sales in Saudi Arabia surpassed 100,000 units, with a year-on-year growth of 22.2%. Moreover, Chinese automobiles hold a market share of over 10% in countries such as Saudi Arabia, Bahrain, and Oman. This highlights the significant growth potential and opportunities for Chinese automakers in the Middle East.
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