Industry News
IM Motors closes Series A financing as cumulative deliveries reach 1,051
This is IM Motors' first public financing from other investors, reaching a post-investment valuation of nearly RMB 30 billion ($44).
Jidu said to be seeking $400 million in financing at valuation of about $3.5 billion
The financing would be the latest round for Jidu since late January and could mark the introduction of additional backers besides Baidu and Geely, a Bloomberg report said.
Chongqing Sokon officially renamed as Seres Group, reports 13,291 NEV sales in July
This is up 316.78 percent from 3,189 units in the same month last year and up 7.03 percent from June.
Smart raises price of Smart #1 before it's even delivered in China
The price of the Smart #1 will be raised by RMB 5,800 ($860) for its highest-priced version before deliveries in China begin in September.
China accounts for 59% of global NEV sales in H1
By comparison, the US and Europe contributed 11 percent and 26 percent of global new energy vehicle sales, respectively, in the first half of the year.
China to extend purchase tax exemption for NEVs, says top govt meeting
China's policy of exempting NEVs from purchase taxes has been extended several times over the years.
GAC Aion enters robotaxi space, releases first road test video
GAC Aion said the Aion LX L4 Robotaxi, equipped with six LiDARs, has undergone more than 400 days of real-life complex road testing and virtual simulation tests.
Dongfeng confirms new brand to focus on luxury new energy off-road vehicles
The brand will have an industrial park with a planned capacity of 100,000 vehicles and is scheduled to go into production in 2023.
Local brands lead across the board in NEV consumer appeal in China
Nio ES8 ranked No. 1 in the luxury pure electric market, Li ONE ranked No. 1 in the mainstream plug-in hybrid market, and Xpeng P7 ranked No. 1 in the mid-size pure electric sedan market.
Shanghai aims to see over 50% of vehicle sales be purely electric by 2025
Shanghai is accelerating the full electrification of public sector vehicles and encouraging the private sector to buy electric passenger cars, according to a carbon peak implementation plan.