German Auto

The EQE SUV is priced at about half the price of the EQS SUV that Mercedes-Benz launched in China on February 21.

There have been no discussions between Volkswagen China and other companies about operating system licensing, local media quoted the German carmaker as saying.

Volkswagen is one of the top-selling car companies in China, but it is lagging behind local carmakers in the country's NEV market.

The purchase order involves LFP Unified Cell products with the same design style and specifications as those for the Chinese market for Volkswagen's full range of NEVs.

Smart delivered 4,390 vehicles in China in April, down 25.73 percent from 5,911 units in March.

The new company, 100%TechCo, is scheduled to be operational in early 2024 and will have more than 2,000 procurement and R&D staff in the future.

The ID.7 is 4,956 mm long and is powered by an electric motor with a peak power of 150 kW.

The offer has a deadline of April 30, and SAIC-Volkswagen plans to offer up to RMB 3.7 billion in subsidies for car purchases.

FAW-Volkswagen's retail sales of NEVs in January-February were 9,572 units, down 8.3 percent from 10,442 units in the same period last year.

A rare price stampede is taking place in the Chinese auto market.