EV Industry

Chinese automaker Geely has signed an agreement with the government of Ganzhou City, Jiangxi Province, to invest RMB 30 billion ($4.61 billion) in a power battery project with a design capacity of 42 GWh per year.

Chinese scooter maker Niu Technologies is said to be acquiring a BAIC BluePark New Energy plant in Changzhou, sparking discussions that it will also join the car manufacturing boom.

Auto production during the period was 3.855 million units, up 89.9 percent from the same period last year.

CICC cut its price target on Nio by 27% to $62 from the previous $85, saying this is due to the pullback in Tesla as a "valuation anchor" for EV makers. It also lowered its price target on Li Auto by 12.5% to $35 from $40.

The permanent magnet synchronous motor model TZ210XY584 has a peak power of 230kW, which is close to the highest level of the MIIT new energy model recommendation catalog.

Chip shortages are a major challenge for China's auto industry today, but their impact is limited and expected to ease soon, according to an industry association.

China will further strengthen quality supervision of new energy vehicles to promote the industry's development with higher quality, according to the official Chinese media Xinhua News Agency.

Sales of pure electric vehicles in February were 92,000 units, up 580.0% year-on-year.

Ternary battery production in February was 5.1 GWh, accounting for 54.2 percent of the total, up 1,006.5 percent year-on-year and down 25.2 percent from January.

The Maple 80V is mainly aimed at the car-hailing industry, and Geely says it has already won the favor of several mobility platforms.