Industry

China-led Phoenix Motor sputters with watered down US listing plan
Electric vehicle maker aims to raise $20 million from its Nasdaq IPO, down from a previous $150 million target, which is only enough to fund its operations for a year.
Porsche recalls 6,072 Taycan EVs in China
Some of the vehicles may have rear seat belt latch harnesses that are not properly wired, resulting in child seats not being properly installed in the rear right seat.
Shanghai aims to have life fully back to normal from Covid in June
Shanghai's next Covid prevention and control will be divided into three phases, with the goal of a full return to normal life and company production order in June.
Shanghai will start phased resumption of businesses from May 16
Shopping centers, department stores, supermarkets, convenience stores and other commercial outlets will be gradually resuming offline operations in an orderly manner.
China to issue new policies to boost car consumption in rural areas as soon as this month, report says
A new round of policies to boost auto consumption in rural areas will be released soon, possibly as soon as this month, Cailian reported.
China's passenger vehicle retail sales drop 21% year-on-year in first week of May, CPCA data show
China's NEV supply is expected to improve significantly in May compared to April, with retail sales of NEVs expected to show high growth compared to April, the CPCA said.
HiPhi sells 316 units in April, down 31% from March
HiPhi X has accumulated nearly 6,000 deliveries and sold at an average price of nearly RMB 700,000 ($103,950), it said.
China's April NEV sales at 299,000 units, down 38% from March, CAAM data show
Compared to the NEV market, China's overall auto market performed worse in April, with sales down 47.1 percent from March.
China's wholesale sales of passenger NEVs in April falls 38.5% from March, CPCA data show
The penetration of NEVs in wholesale sales in April was 29.6 percent, up from 25.1 percent in March.
JAC sells 7,671 EVs in April, down 46% from March
JAC sold 27,387 units of all models in April, down 48.4 percent from 53,034 units in the same month last year.