EV Industry

Sales of all new energy vehicles are expected to reach 2.2 million units this year, up 900,000 units from last year.

Evergrande Auto, the car-making business of China's largest real estate company, has invested RMB 47.4 billion ($7.25 billion) to build new energy vehicles, the company said in its annual financial report released March 25.

Geely Auto started laying out its chip strategy in 2019, and the in-house developed central control chip will be assembled on board in 2023, the auto giant said.

Dai Lei, former CEO and co-founder of Chinese EV startup Byton, will take a position at Evergrande Auto.

Chinese chip company Horizon Robotics is on track to ship a million automotive AI chips this year, up from 160,000 in 2020, the company said Tuesday.

Geely plans to inject RMB 2 billion ($307 million) into the new company, with Geely Auto holding 51% and Geely Holding Group holding 49%.

Luo was the general manager of Uber China's southern region and was responsible for building Uber's Chinese business.

SK Group, the third-largest South Korean consortium, said in a statement that the fund will invest in promising companies in areas including self-driving technology, new energy vehicles, and car networking.

Since its founding in 1958, Hongqi cars have long been used as parade cars for major celebrations in China and are one of China's premium automotive brands.

Whether Geely's construction of a new plant in Guangzhou is related to its high-end smart electric vehicle project is unknown for now, but the series of signs suggests that Geely is clearly picking up the pace in the smart new energy vehicle sector.