EV Industry

The new variant of the Jiyue 01 has a CLTC range of 720 kilometers and a starting price of RMB 249,900 ($34,510), which sits in the middle of the two previously available variants.

China's retail penetration of NEVs stood at 47.51 percent in May 1-26, and 39.93 percent year-to-date.

China's overall passenger vehicle retail sales in May is expected to be around 1.65 million units, down 5.3 percent year-on-year, the CPCA said.

China's retail penetration of NEVs stood at 45.78 percent in the May 1-19 period, and 39.4 percent year-to-date.

China's retail penetration of NEVs was 43.11 percent in May 1-12, and 38.87 percent year-to-date.

Xiaomi EV plans to increase its daily production time from 8 hours to 16 hours starting in June, with monthly production capacity expected to rise to nearly 20,000 units, according to local media.

Excluding exports, domestic NEV sales in April were 736,000 units, up 37.31 percent year-on-year but down 2.9 percent from March.

The NEV segment fared better than the overall automotive market, while PHEVs outperformed BEVs.

The US government is set to impose new, targeted tariffs on some key sectors, including Chinese EVs, batteries and solar equipment, according to Bloomberg.

Skyworth Auto has signed a 10-year partnership agreement with Saudi Arabia's KAG, with the first phase of a five-year partnership having a business plan worth RMB 10 billion ($1.38 billion).