Industry News
China's Oct retail sales of NEVs expected to be 550,000 units, CPCA says
In terms of retail sales, the penetration rate of NEVs in China is expected to be about 28.8 percent in October, down from 31.8 percent in September.
WM Motor reportedly cuts employees' salaries to ease financial strain
Starting in October, WM Motor is paying only 70 percent of normal salaries to regular employees and 50 percent to management, according to local media.
Former Huawei smart driving veteran Su Jing reportedly joins VW's JV with Horizon Robotics
Su Jing, a former Huawei executive and self-driving industry veteran, has joined Volkswagen's joint venture with Horizon Robotics, according to local media.
Great Wall Motor to set up chip-making unit
Great Wall Motor will set up a chip company with its chairman that may involve chip development in the areas of IGBTs, autonomous driving and smart cockpit.
Polestar enters into strategic partnership with Industrial Bank in China
The two will cooperate globally in credit financing, retail lending, and international business.
GAC Aion closes Series A funding round, valued at over $14 billion
GAC Aion has brought in 53 strategic investors, paving the way for a possible IPO next year.
BMW to expand its battery production facility in China, report says
The battery production center is BMW's third in the world and its first outside Germany.
IM Motors to launch performance version of L7 electric sedan this year
IM Motors said the L7 Snake Performance, built by the company's performance division, will deliver a better handling experience.
Models priced between RMB 100,000-300,000 contribute lion's share of BEV sales in China
Models in the RMB 100,000-300,000 price range contributed 67 percent of BEV sales in China in September.
Great Wall Motor showcases multiple models at Paris Motor Show, launches Wey Coffee 01 in Europe
The Wey Coffee 02 will also be available in Europe in 2023, and will first be available in Belgium and France.
