EV Industry

Kaixin Auto has signed a non-binding letter of intent to acquire 100 percent of WM Motor from its shareholders by issuing a certain number of new shares.

From January to August, China's NEV sales were 5.37 million units, up 39.51 percent year-on-year, accounting for 29.5 percent of all vehicle sales.

Retail penetration of NEVs in China stood at 37.3 percent in August, up 9 percentage points from 28.3 percent a year earlier and up from 36.1 percent in July.

China's wholesale sales of passenger NEVs in August were 805,000 units, up 28 percent year-on-year and up 9 percent from July.

In January-August, China's passenger NEV wholesale sales are estimated at 5.08 million units, up 39 percent year-on-year, according to the CPCA.

HiPhi previewed the price hike earlier this month, saying it was because the two long-range versions accounted for a larger-than-expected share of orders.

In the first four weeks of August, China's NEV retail penetration was 39.67 percent, while it was 33.70 percent year-to-date.

China's NEV penetration at retail is expected to be around 37.8 percent in August, up from 36.1 percent in July.

In the first three weeks of August, China's NEV penetration at retail stood at 37.06 percent, while it was 33.3 percent year-to-date.

Rox Motor has launched its first model, the Rox 01 EREV, which shares a large number of suppliers with Li Auto and has a significant price overlap with the Li L8.