EV Industry
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China's Nov wholesale sales of passenger NEVs hit record 732,000, CPCA estimates show
Demand in China's NEV market has held steady amid high international oil prices, the CPCA said.
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Evergrande NEV reportedly halts mass production of its only model due to lack of orders
Evergrande NEV has suspended mass production of its sole model, the Hengchi 5, due to a lack of sufficient new orders, according to Reuters.
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Evergrande's EV brand Hengchi begins layoffs and salary cuts to cope with financial difficulties
Hengchi's previous staffing structure was based on the company's need to develop nine models simultaneously, according to local media.
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Thai EV firm reportedly plans to buy 150,000 EVs from Chinese startup Aiways
This is the biggest partnership so far reached by a new Chinese car maker overseas, local media said.
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Chinese auto chip maker SemiDrive closes $140 million Series B+ financing
SemiDrive currently has four series of products with an annual output of one million chips.
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China Nov retail sales of NEVs expected to be 600,000 units, CPCA says
In terms of retail sales, the penetration rate of NEVs in China is expected to be about 32.3 percent in November. This is a new historical record.
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Financially troubled WM Motor sees about half of its Shanghai stores close, report says
The number of WM Motor stores in Shanghai has been reduced from about 20 to about 12, and most of the stores in the city's shopping malls have closed, according to local media.
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Spy photos show Lotus testing electric sedan
The model is the Lotus Envya, which will take on the Porsche Taycan, according to local media.
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WM Motor cuts employee salaries to cope with financial pressure, internal letter shows
The Covid epidemic, rising raw material costs, and untimely parts deliveries have severely impacted WM Motor's production and operations, said WM Motor's CEO.
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Kia launches EV offensive with opening of its 1st City Store in China
Kia's first City Store in China is located in a central business district in Xi'an, and its all-electric EV6 will be one of the first models to be showcased at the store.
