Lei Kang

The investment is to further improve the company's business layout, serve international customers and expand overseas business, Sunwoda said.

Evergrande NEV earns RMB 130 million in 2022 from its main operations, well below RMB 2.5 billion in 2022 and RMB 15.5 billion in 2020.

July is traditionally a slow season for the auto market, with hot weather restricting consumers from visiting stores, the CPCA said.

In the first half of the year, Shanghai produced 611,500 NEVs, contributing 16 percent of China's NEV production.

WM Motor said earlier this month that it is in the process of settling its debts in an orderly manner and is actively pushing ahead with plans to sell NEVs overseas.

China contributed 22.99 percent of Tesla's revenue in the second quarter, up from 20.97 percent in the first quarter and up from 22.36 percent in the same period last year.

NEVs exported from China amounted to 800,000 units in the first half of the year, up 105 percent year-on-year.

In the past week, the HiPhi Y received 2,000 firm orders and more than 50,000 purchase intentions, a HiPhi executive said.

BYD and Forvia will build a new seat assembly plant in Thailand's Rayong province, following their joint establishment of seven factories in China.

The blogger has posted a large amount of inaccurate information over a long period of time, defaming and insulting BYD and causing serious damage to the company's brand reputation, BYD's legal department said in its only Weibo post to date.