EV Industry

China's market share increased by 6 percentage points in July from 47 percent in June, while Europe fell to 31 percent from 39 percent and the US grew to 12 percent from 11 percent.

China supports the development of all-solid-state lithium batteries, cobalt-free power batteries, and industrial hybrid lithium-ion batteries.

The penetration of NEVs - their share of total sales - exceeded 10 percent in the first eight months.

Foxconn said one of its subsidiaries signed an agreement with HengDrive, a motor manufacturer, to acquire a 63 percent stake in the latter for about RMB 378 million ($60 million).

A total of 53 vehicles of five models were tested at the same time, according to Evergrande.

In the face of a growing chip shortage, the industry's regulator in China is taking action in addition to car companies finding their own ways to deal with it.

Lotus Technology announced on August 31 that it had received an investment from Nio Capital, the venture capital arm of Nio.

For Evergrande Group, which is busy reducing its debt load, there is not much progress about its car-making recently. But the latest reports indicate that one of its sedans is already undergoing road tests.

Since last year, Nio and the city of Hefei have been working together to build battery swap facilities and plan to add 20 new ones within two years.

Chinese regulators have interviewed 11 ride-hailing companies, including Didi Chuxing, Meituan Chuxing, Gaode and Caocao Chuxing, asking them to rectify their non-compliance practices and maintain fair and competitive market order.