EV Industry

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.

The global electric vehicle industry faces an imminent threat that its battery supply could run out as early as 2025, according to a research note by Bank of America (BofA).

Volvo announced on July 21 that it has reached an agreement with parent company Geely Holdings to acquire the latter's stakes in two joint ventures in China.

The business combination of the two is expected to close around July 21, 2021, and FF expects to receive about $1 billion in funding, according to the announcement.

In the first half of the year, China's exports of automobiles and parts amounted to $50.78 billion, up 66.2 percent year-over-year.

Hebei plans to build 25 hydrogen refueling stations by 2022, and the demonstration operation scale of fuel cell buses and logistics vehicles will reach 1,000 vehicles.

The company's stock has fallen about 80 percent since the Shanghai auto show on April 19.