EV Industry

After its record sales in March, the performance of China's hottest-selling electric car is starting to weaken.

The huge market demand generated by China's new energy industry chain has led to a large number of companies actively raising capital to expand their production capacity.

These vehicles are also widely known as "老头乐" (Old Man's Joy) in China, and they often weave in and out of ordinary vehicles and drive illegally on bike paths, posing many safety hazards.

Chinese tech giants jumping on the car-building bandwagon are grasping for talent, and they're setting their sights on people who once had experience working at China's leading car-making newcomers, including Nio.

The percentage of EV fires that occur while charging is about 28 percent, while the percentage of fires that occur while sitting is 38 percent.

The rapid development of China's new energy industry is driving demand for energy storage higher, and policymakers are accelerating the development of regulations for the industry.

In June, the number of public charging piles in China increased by 39,000 units, up 65.4 percent year-over-year.

Tesla, WM Motor, and BAIC BJEV were ranked 3 to 5 respectively.

Baidu has been developing self-driving technology since 2013, and Jidu Auto, which was announced in January this year, carries Baidu's car-making plans, Baidu CEO Robin Li said Wednesday.

Wholesale sales of new energy passenger vehicles in China reached 227,000 units in June, up 14.7 percent from May and 165.7 percent year-over-year.