EV Industry

The MIIT suggested that automotive chip supply companies should pay attention to the Chinese market, increase the deployment of production capacity, and improve the efficiency of the distribution chain.

Global electric vehicle sales grew 39 percent year-on-year to 3.1 million units in 2020, accounting for nearly 5 percent of all new vehicle sales, Canalys said.

The first RMB 3.5 billion credit facility from a syndicate of Shanghai-based banks has been signed and will be used primarily for WM Motor's operations and layout in terms of products and customer services, the company said.

From the comparison with December, the faster rate of production decline reflects the lack of automotive chip supply affects the pace of production of enterprises, the CAAM said.

The China Passenger Car Association (CPCA) said the shortage of automotive chips is due to a shortage of supply and a large increase in demand caused by the impact of the COVID-19 pandemic on the distributed global supply chain, and expects the problem to gradually ease.

China's most popular electric car, the Hongguang Mini EV, sold a whopping 36,762 units in January 2021, ranking monthly sales No. 1 in China for five consecutive months.

Nio is a company that is replacing charging with battery swap, and it could win the day, she said.

Chinese tech giant Huawei registered two driving-related trademarks - MATEDRIVE and MATEAUTO on January 28, both classified as scientific instruments and transportation tools, according to data provider Qichacha.

Evergrande NewEnergy Vehicle Group, the car making arm of China's biggest property developer China Evergrande, started winter testing of its first production vehicle, the Hengchi 1, in the cold environment of northern China's Inner Mongolia.

Selling at 9,999 euros in Europe would mean that this is about RMB 777,765 yuan, more than twice as much as the price in China.