EV Industry

Shenzhen will actively expand local auto consumption by considering policies to facilitate the purchase of additional small vehicles by owners of NEVs.

As the capacity of power batteries equipped in vehicles increases, global power battery demand will continue to grow faster than new energy vehicle demand, said CICC.

China's new energy vehicle (NEV) sales from January to June were 1.206 million units, up 2 times year-over-year and 92.3 percent from the same period in 2019.

Evergrande Auto surged in Hong Kong on Thursday as its parent company's debt problems eased and Faraday Future (FF), in which it has a stake, is set to go public in the US.

In a research note released Thursday, CITIC Securities raised its China 2021 NEV sales forecast to 2.83 million units from 2.49 million units, implying a 121 percent increase from 2020.

The huge success of SAIC-GM-Wuling's Hongguang Mini EV has led to a general perception of such minicars as low-end products. However, a new model from another Wuling brand, Baojun, is about to overturn that impression.

In addition to its partnership with Nio on battery swap station construction, China's fossil fuel giant Sinopec Group is moving forward with similar partnerships with other companies.

This includes RMB 25 million in cash and RMB 5 million worth of three industrial-grade drones and auxiliary equipment from Geely's Aerofugia specifically designed for disaster surveys.

Shanghai aims to further increase the share of electric vehicles and fuel-cell vehicles, promote the transformation of car companies into emerging industries and nurture auto parts companies with tens of billions yuan in sales.

The 2021 World Intelligent Connected Vehicle Conference will be held in Beijing from Sept. 25-28, China's Ministry of Industry and Information Technology said on Wednesday.