EV Industry

Dreame's founder led his team to Germany this week to scout factory locations for vehicle production.

August BEV sales rose 17.2 percent year-on-year, while hybrid vehicle sales fell 6.8 percent, marking the second consecutive month of year-on-year decline.

The new WM Motor aims to produce and sell 10,000 to 20,000 vehicles this year, with projected revenue of RMB 1 billion ($140 million) to RMB 2 billion.

This marks the sixth consecutive month since March that China's passenger NEV retail sales have seen a slowdown in year-on-year growth.

In the January to August period, China's NEV wholesale sales are estimated at 8.93 million units, a 34 percent year-on-year increase.

Dreame's inaugural model will be an ultra-luxury pure-electric vehicle positioned to rival the Bugatti Veyron, slated for a 2027 debut.

From August 1 to 24, China's total passenger vehicle retail sales came in at 1.285 million units, a 3 percent increase compared to the same period last year.

Nio and Firefly will share a booth, while Onvo will have its own booth.

In the first 17 days of August, China's total passenger vehicle retail sales came in at 866,000 units, up 2 percent year-on-year.

From August 1 to 10, China's total passenger vehicle retail sales totaled 452,000 units, down 4 percent year-on-year.