Industry News
EV-related stocks soar as China studies 'extraordinary' policies to stabilize manufacturing growth
China is set to introduce extraordinary policies to address the risk of a lack of investment momentum in manufacturing downstream companies whose profits are being squeezed.
IM Motors, backed by SAIC and Alibaba, begins deliveries of its first model
IM Motors L7 is positioned similarly to Nio's ET7 sedan, which began delivery in late March, as a mid-size, all-electric premium sedan.
Further Reading: Audi fails in China's EV market
This article summarizes Audi's rise to prominence in China over the past 30 years and its impotence in the disruptive arrival of electric vehicles.
Chery recalls 8,067 eQ1 EVs due to brake system issues
Chery eQ series EVs saw retail sales of 9,084 units in China in May, up 61.3 percent from 5,632 units in the same month last year.
Porsche recalls 6,172 Taycan EVs in China due to seat wire harness issue
The Taycan series EVs have a starting price range of RMB 898,000 ($134,000) to RMB 1,838,000 in China.
Shanghai's car sales down 95% year-on-year in May due to Covid lockdown
Nio's sales in Shanghai contributed between one-sixth and one-fifth of the company's total sales, William Li said yesterday.
Defunct Rise Education reborn as EV charging company
Former education company backed by Bain Capital rises from the ashes through a reverse merger with the electric vehicle charging business of NewLink, another Bain-backed Chinese company.
Further Reading: How does Shanghai's auto market fare after life returns to normal from Covid?
Nio's ET7 seems to be continuing to draw Shanghai customers to its stores, while WM Motor, Volkswagen, Toyota, GM, and GAC Aion are seeing fewer visitors in their stores.
Hanma, controlled by Geely, will stop production of ICE vehicles in December 2025 to focus on NEVs
Hanma's Shanghai-traded shares rose by the 10 percent daily limit Wednesday, bringing its cumulative gain since the April 27 low to 50 percent.
Voyah becomes latest Chinese EV maker to tap Norway's market
Norwegian customers will be able to test drive the Voyah FREE in July-August, with deliveries expected to begin in the fourth quarter.
