EV Industry

Chengdu, famous for being the home of China's panda breeding program, recently issued new regulations on the ride-hailing industry, requiring new vehicles used for ride-hailing to be new energy vehicles.

In the next year or two, China's new energy vehicle market will likely remain dominated by local brands, considering that nine of the top 10 electric vehicle companies are currently local companies, the report said.

China's Ministry of Commerce has recommended that local new energy vehicle (NEV) companies increase their exports, marketing and promotion to Russia to expand their market share in a report released on Aug. 3.

China's first 10-kilovolt, 400-meter triple-phase co-axial high-temperature AC superconducting cable was laid in Shenzhen, southern China, on July 28, SZnews.com reported on Wednesday.

China's new energy vehicle stocks surged on Wednesday, with an ETF tracking the sector up more than 5 percent at press time and BYD up nearly 8 percent to top RMB 300 for the first time.

A team of executives from Baidu's car-making business Jidu Auto visited power battery giant CATL on Tuesday to discuss a partnership that goes beyond the power battery business, Pingwest reported Tuesday.

China's July auto sales are estimated at 1.82 million units, down 9.7 percent from June and 13.8 percent from a year ago, data released Wednesday by the China Association of Automobile Manufacturers showed.

A semiconductor index in Shanghai extended its decline to more than 6 percent on the news.

Nio, Li Auto, and Xpeng have gone public and entered a positive cycle; however, many other new automakers have fallen into production suspensions, unpaid salaries, and bankruptcies, the report said.

A report in People's Daily on Tuesday called on China to deepen its power system reform and build a new power system dominated by new energy sources.