Industry News
China's NEV retail sales at 472,000 in Oct 1-22, up 4% from same period last month
China's retail penetration of NEVs was 38.9 percent in the October 1-22 period.
Premium Chinese EV brand HiPhi reportedly making massive layoffs
Rumors on Chinese social media said HiPhi will lay off up to 20 percent of its workforce and up to 50 percent in some divisions.
Canalys expects China's auto exports to reach 5.4 million in 2023, NEVs to contribute 40%
MG, Tesla, and BYD were the brands that exported the most NEVs from China in the first half of the year, contributing 25.3 percent, 22 percent, and 15.4 percent, respectively.
Nio ES8 becomes designated car for G20 Entrepreneurship Roundtable
In addition to the ES8, the Nio ET7 will also be used as the designated vehicle for another major event to be held next month.
BeyonCa, EV brand founded by former VW exec Weiming Soh, signs deal with Saudi investor
BeyonCa has signed separate agreements with a Saudi investor and a Middle Eastern distributor.
GAC Aion reportedly to take over Mitsubishi's plant as Japanese carmaker exiting China
The plant, which has an annual capacity of 200,000 vehicles, has already begun equipment renovation and is expected to begin production in May 2024, according to local media.
Buick adds new version to Electra E5 in China: Removes some features, lowers price by $5,330
Buick is responding to increasing competition in a way that's common for local automakers -- lowering the price of its cars by removing some comfort features.
GAC Aion's Hyper brand begins pre-sales of Hyper HT SUV with starting price of $30,080
The Hyper HT is being offered in four versions in pre-sale, three of which are based on the 800-volt high-voltage platform, with the top-of-the-line version featuring falcon-wing doors similar to those on the Tesla Model X.
Changan signs deal to build NEV plant in Thailand
The Thailand Board of Investment has issued an investment certificate to Changan, which will invest around $240 million in a NEV production plant in Thailand.
China's NEV retail in Oct 1-15 at 294,000, up 8% from same period last month
So far this year, China's passenger NEV retail sales amounted to 5,482,000 units, up 34 percent year-on-year.
