EV Industry

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.

After France, Germany, the Netherlands, Belgium and Denmark, Aiways is expanding its business to Southern Europe and the European Free Trade Association (EFTA) market.

On June 7, Jidu Technology Co was established with a registered capital of 2 billion yuan ($313 million), according to information from data provider Tianyancha.

In 2018 and 2019, more than half of global new energy vehicle sales come from China. In 2020 with the impact of Covid-19, China's contribution declined. Now, with the rapid growth of the market, China has regained its share.