BYD to produce electric cars in Vietnam
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A few days ago, foreign media reported that BYD Auto plans to manufacture electric vehicles in Vietnam and is seeking support from the Vietnamese government. However, no investment details were disclosed. Additionally, BYD intends to construct a local factory to manufacture auto parts, which will enhance its supply chain in Southeast Asia.
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Official interior images of Denza N8 are released
Recently, Denza, the equally owned joint venture between BYD and the Mercedes-Benz Group, unveiled the official interior images of the upcoming Denza N8. The new car features a family-style design with diamond and star elements scattered throughout the interior, adding a sense of luxury and high quality. The N8 will be available in 5, 6, and 7 seat configurations. The official images showcase a 2+2+2 six-seater layout, complete with a large sunroof and rear aviation-style tables.
Shanghai offers 10,000RMB Subsidy purchase of PEVs
Recently, the Shanghai Development and Reform Commission and the Finance Bureau jointly issued a notice to adjust the "Shanghai Municipal Promotion of Automobile Consumption Subsidy Implementation Rules," specifying the changes to the scope and standards of subsidies. Starting from June 1, 2022, to June 30, 2023, individuals who purchase a new pure electric passenger car will be eligible for a one-time subsidy of 10,000 RMB towards their car purchase.
smart #1 wins the 2023 iF and Red Dot Design International design Awards in Germany
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smart #1 has triumphed on the international design stage, securing two highly coveted awards - the 2023 Red Dot Design Award and the 2023 iF Design Award - held in Germany. Remarkably, the premium SUV won both awards in its first-ever selection process, thereby underscoring the EV’s exceptional design aesthetics and impeccable craftsmanship quality, which have been recognized by industry experts. As an outstanding representative of the latest trends in global automotive industrial design, the smart #1 has truly set a new standard for excellence.
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Xu Yingchun, VP of Li Auto’s computing power platform resigns
Li Auto recently confirmed the resignation of Xu Yingchun, Vice President of the company's computing power platform. While this news has caused some speculation, industry insiders suggest that the impact on the company is likely to be minimal. They note that the computing power platform technology is already mature, and the role of the Vice President was mainly to define the direction of the platform, rather than set the company's overall route. Therefore, the change in leadership is unlikely to significantly affect the company's strategic direction or operations.
Haomo release May Day period data report, total mileage exceeds 47 million KM
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A few days ago, Haomo, the Chinese autonomous driving startup, released a report on the usage data of its intelligent driving system during the May Day period. The report revealed that the total mileage of assisted driving exceeded an impressive 47 million kilometers, with a total mileage of 12.8753 million kilometers and a total time of 339,943 hours. This impressive feat sets a new record for the company. The report also showed that the mileage of users who turned on the assisted driving reached 1.5025 million kilometers, with a total time of 16,377 hours. This is a significant achievement for Haomo and demonstrates the effectiveness of their intelligent driving system.
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Neta will start production of Neta V in Thailand for the Southeast Asian market
Recently, global media reported that Hozon Auto, the parent company of Neta, will produce electric vehicles for the Southeast Asian market in Thailand. The company has signed an agreement with Thai Automobile Assembly Company to manufacture the Nezha V model in the country by 2024, and plans to introduce the Neta U and Neta S models to the Thai market in the future.
Powered by BYD, Fengon releases DI for Landian E3
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Dongfeng's Fengon Landian E3 has recently been unveiled, featuring a fresh look with updated design elements and the latest brand logo. The vehicle is available in different configurations, with some models offering additional features such as sunroofs, panoramic images, and on-board ETC. The car is powered by a BYD “Fudi” electric motor that delivers a maximum power of 150kW, paired with a high-capacity lithium iron phosphate battery pack. The vehicle's electric powertrain promises a smooth and efficient ride, making it an appealing option for those seeking a sustainable and eco-friendly driving experience.
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BYD's acquisition of Yi'an Property Insurance approved by the China Banking and Insurance Regulatory Commission
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The China Banking and Insurance Regulatory Commission recently approved BYD's acquisition of Yi'an Property Insurance. Under the agreement, BYD will acquire 100% of Yi'an Property & Casualty Insurance, with the transfer of 1 billion shares resulting in the original shareholders no longer holding any shares of the company. This acquisition has sparked speculation among some analysts who believe that BYD may leverage Yi'an Property Insurance to develop insurance products tailored to new energy vehicles. With the potential to apply for auto insurance business qualification, BYD could expand its offerings in the insurance industry and further solidify its position as a leading player in the market for electric vehicles.
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Unveiled on June 15, the Volvo EX30 patent images officially released
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Volvo recently released the official patent images for their upcoming model, the EX30. Built on the SEA platform, the modular electric vehicle platform developed by Geely Holding, the small sized SUV will feature the brand’s latest sleek and minimalist design language. Under the hood, the EX30 will be powered by a 147kw single motor that will drive a 69kWh battery pack, providing a cruising range of up to 500km. With these specifications, the EX30 promises to offer a smooth and efficient ride while also prioritizing sustainability and eco-friendliness.
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NIO's new ES6 reduces price to 350,000 RMB
NIO's latest model, the ES6, is set to be released in late May, with the official pricing soon to be revealed. According to internal sources, the starting price for the new vehicle is expected to be around 350,000 RMB, making it an attractive option for consumers in the premium electric SUV market. The ES6 boasts a range of advanced features, including front and rear five-link suspensions, high-performance 4-piston calipers, and a powerful dual-motor four-wheel drive system that delivers a combined power of 360kW and a top speed of 200km/h.
Faraday Future receives $100 million in unsecured convertible notes financing commitments
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Faraday Future has secured commitments for $100 million in financing through unsecured convertible notes, according to a recent announcement by the California-based electric mobility company. The proceeds from this funding are expected to support the production ramp-up of the company's flagship vehicle, the FF 91, as well as the development of its sales and service systems. This infusion of capital is a promising sign for Faraday Future's continued growth and expansion in the competitive electric vehicle market.
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Sales start at 189,800 RMB, Neta S adds 520 and 520 Lite version
Neta, the Chinese electric vehicle brand recently unveiled two new models: the 520 and the 520 Lite. Both vehicles feature Neta S's signature design elements, such as sleek lines, bold contours, and frameless sport doors with hidden handles. The 520 Lite has a starting price of 189,800 RMB, while the 520 is priced slightly higher at 199,800 RMB. These new models are expected to appeal to consumers who are looking for an affordable yet stylish electric vehicle option. With their distinctive design features and advanced technology, the Neta S 520 Lite and 520 represent a significant step forward for the brand in the highly competitive electric vehicle market.
A month-on-month increase of 2.5%, the CPCA release April sales data
According to the latest data from the China Passenger Car Association, the national passenger car market continued to grow in April. Retail sales of passenger cars reached 1.63 million units, representing a year-on-year growth rate of 55.5% and a month-on-month increase of 2.5%. Chinese brands performed particularly well, with retail sales totaling 790,000 vehicles, a year-on-year increase of 63% and a month-on-month increase of 1.5%. Notably, new energy vehicle manufacturers also saw a significant increase in wholesale penetration, with a rate of 33.9%, up by 5.9%. These figures suggest that the Chinese passenger car market is on a path of steady growth, with strong demand for both traditional and new energy vehicles.