EV Industry

Baoneng New Energy Vehicle Group, a subsidiary of the Baoneng Group, has received support from the Guangzhou government, with a strategic investment of RMB 12 billion from local state-owned enterprises.

Demand in China's auto industry was not fully released in the first half of the year due to tight chip supply, and as the issue improves, the second quarter will be the worst period for the industry's performance, CITIC Securities said.

OPPO's car-building project is still in the research phase and has not been officially launched yet, but executives from the company recently visited Li Auto to speed up the plan.

ZF will also take a stake in CalmCar, although the amount of the investment was not disclosed. This is the first time ZF has invested in a local Chinese technology start-up.

William Li said that the used car market in China has the potential for exponential growth and believes Uxin will continue to lead the development of the used car market in China.

The company plans to build about 313 new battery swap stations for passenger cars and 175 battery swap stations for heavy trucks in Jiangsu, Zhejiang, and Guangdong.

The continued increase in sales of premium electric models so far this year, while traditional fuel vehicles have been more severely affected by chip shortages, has allowed new energy passenger car penetration to rise rapidly.

It can work for 4-5 hours under heavy-duty conditions and 6-8 hours under medium- and light-duty conditions, reducing overall usage costs by more than 60 percent compared with traditional fuel-powered equipment.

All vehicle sales in China were 2.128 million units in May, down 3.1 percent from the previous month.

Pony.ai's initial plan is to build passenger cars, but it has not yet determined whether they will be used in self-driving fleets or sold to general consumers.