Industry News
China's July NEV sales up 164% year-over-year to 271,000 units, CAAM data show
In contrast, China's July auto sales declined 11.9 percent compared to the same month last year.
Chinese brands sold 56,573 vehicles in Russia in Jan-July, up 140% year-over-year
In July, Chinese cars sold 9,734 units in Russia, up 84 percent year-over-year.
Evergrande Auto's parent company considers another stake sale in EV maker
Evergrande Group, China's largest real estate company with a heavy debt load, has chosen to save itself with the sale of assets.
China mulls policy support for hydrogen internal combustion engines
China will develop a hydrogen energy development strategy and study the possibility of including and supporting hydrogen internal combustion engines.
China's NEV exports show explosive growth in July, the CPCA says
Tesla China exported 24,347 units in July, SAIC's new energy vehicle exports were 4,407 units, BYD exported 781 units and Chery Auto exported 120 units, the CPCA said.
China's retail sales of new energy passenger vehicles were 222,000 units in July, up 169% from a year earlier
Retail sales of new energy vehicles from January to July reached 1.229 million units, up 210.2 percent year-over-year.
Firm questioned by stock exchange after saying it has supplied to Nio, Xpeng, Li Auto, BYD
Nanjing Julong replied to investors on August 9, saying that the company had been certified as a supplier by new energy vehicle makers including BYD, Geely, Nio, Xpeng, Li Auto and Evergrande Auto. Its shares stored since then.
Guangdong aims to exceed $170 billion in auto manufacturing revenue by 2025
Guangdong Province wants its auto manufacturing revenue to exceed RMB 1.1 trillion ($170 billion) by 2025, and to build an auto cluster with international influence by then.
Analysts say certainty of recovery in China's auto industry grows
China's auto sector continues to receive positive support and the certainty of recovery is increasing, Guotai Junan Securities said.
Evergrande Auto expects H1 loss of about $740 million
This is mainly due to the fact that its new energy vehicle business is still in the investment stage, with the purchase of fixed assets and equipment, R&D-related costs and interest expenses.