EV Industry

Edison Yu's team expects overall Chinese EV sales to set a new record in June and continue to increase through the rest of the year.

The pre-sale price of the Hengchi 5 has not been fully determined and is expected to be around RMB 200,000 yuan ($29,880), with the first production run of about 10,000 units, according to local media.

Sales of major Chinese automakers' NEVs grew at a rapid pace in June, with retail sales expected to approach 500,000 units, the CPCA said.

Consumers with Wuhan license plates who transfer or scrap their old vehicles and purchase NEVs will each receive a subsidy of at least 5,000 yuan ($750) over the course of their use of the vehicle.

Tencent will provide the auto industry with a low-threshold, customized platform and tools to make the cloud the new productivity of smart cars, one executive said.

Models using extended-range technology, which are treated the same as ICE vehicles in the new car market, have been included in Beijing's latest subsidy policy in a rare move.

The fund added to its holdings in Chinese EV makers including BYD and Xpeng in March and April after "excessive drops".

CITIC Securities expects BYD to sell 140,320 units, Tesla China 87,182 units, Xpeng 19,281 units, Li Auto 19,447 units and Nio 10,772 units in June.

While Xpeng CEO is excited about the upcoming start of laying out more powerful supercharging piles, WM Motor's helmsman is pouring cold water on it.

Apple unveiled its next-generation CarPlay at the WWDC22 earlier this month, sparking widespread discussion in the automotive industry.