EV Industry

The penetration rate of NEVs in wholesale sales in February was 21.8 percent, up 12.2 percentage points from 9.6 percent in February 2021.

Country Garden's venture capital arm has invested in Chongqing Talent, which is building a 200 MWh automated production line for solid-state lithium batteries in Chongqing.

In Jidu's CEO's opinion, battery swap stations will overtake superchargers and home chargers as the primary means of replenishing energy when EVs become mainstream.

The WM Motor E.5 model was previously sold only to large customers and was used for ride-hailing.

Supporting the consumption of NEVs is part of China's drive for a sustained recovery in consumption.

The CAAM previously said that China's NEV sales are expected to reach 5 million units this year, up 42 percent year-on-year, with a market share expected to exceed 18 percent.

Several car companies, including Li Auto, Geely, WM Motor, Zeekr, and BYD, participated in the first preparatory meeting.

There are now 452,000 NEV-related companies in China, with the significant growth in that number occurring mainly in the past three years.

Jidu will hold its first JIDU ROBODay event and unveil its robot car concept on April 18, three days ahead of the Beijing Auto Show, which will be held from April 21 to April 30.

The project has a total investment of RMB 5 billion ($790 million) and is expected to generate an annual output of RMB 10 billion after production.