Xiaomi secures new land parcel in Beijing, possibly for EV plant phase 2
The current Xiaomi EV factory is a phase 1 project with an annual capacity of 150,000 units, and the second phase is also planned to have an annual capacity of 150,000 units.
Honda to cut gas car capacity in China, 2 EV plants to start production within this year
Honda will reduce its gasoline vehicle production capacity in China by 290,000 units and expects two new EV plants to start production in September and November, respectively.
Neta launches Neta X SUV in Malaysia and Thailand
Neta has started production at its plant in Thailand and is building a new plant in Malaysia.
Changan's NEV unit Deepal launches global model S07, starting at $20,730 in China
The Deepal S07 SUV, available in EREV and BEV variants, replaces the S7 to better align with the company's global strategy.
BYD launches 2 new Song family models with DM 5.0 hybrid system, both starting at $18,770
BYD has launched the Song L DM-i and the 2025 Song Plus DM-i, the second batch of DM 5.0-powered hybrid models after the Seal 06 DM-i and Qin L DM-i hybrid sedans.
Low-priced NEVs to benefit most from higher trade-in subsidies in China, says Deutsche Bank
BYD and Leapmotor will benefit the most, followed by Xpeng, Geely Auto, Changan, Great Wall Motor and GAC due to their relatively large exposure to low-priced vehicles, said Deutsche Bank.
Nio Onvo L60 to be launched in late Sept, says Onvo president
The Onvo L60 will be available for customers to test drive on the day of its launch, and deliveries will begin about a week after it goes on sale, at the end of September, Onvo's president said.
Li Auto unveils scaled-back car purchase incentives
Li Auto's move comes as the price war in China's auto industry eases, after some luxury brands have rolled back steep discounts.
China doubles subsidies to encourage consumers to replace old cars
Consumers can get a RMB 20,000 subsidy for scrapping an old car and buying an NEV, and a RMB 15,000 subsidy for buying a fuel car of 2.0 L or less, both doubled from previous levels.
Nio may see delay in 2024 swap station buildout target, 3rd swap station plant to open in Sept
William Li said that if Nio's plan to add 1,000 stations in China in 2024 is delayed, it could be by up to 1-2 months. The company is building a third battery swap station assembly plant in Wuhan.