Changan

Huawei will set up a company engaged in the R&D and production of smart driving systems and components, in which Changan plans to acquire no more than a 40 percent stake.

The tie-up comes after Nio basically pulled out of a joint venture with Changan, marking the first external partner for Nio's iconic energy replenishment network.

The Thailand Board of Investment has issued an investment certificate to Changan, which will invest around $240 million in a NEV production plant in Thailand.

The Qiyuan A07 is available in three EREV variants and two BEV variants, a strategy that has been proven by local EV makers to be more effective in gaining sales than just offering BEVs.

Avatr's post-investment valuation reached RMB 20 billion, and Nio's stake in the company dropped from 0.81 percent to 0.67 percent.

Qiyuan's product matrix will include the A-series, Q-series, and E0-series, with four models to be released within this year, including the A05, A06, A07, and Q05.

Changan's NEV production base in Thailand will have an initial annual capacity of 100,000 units, with the capacity to be raised to 200,000 units in the second phase.

The data center has a computing power of 1,420 PFLOPS, allowing autonomous driving models to be trained up to 125 times faster.

The Qiyuan A07 is a mid to large-size sedan that will be offered in BEV and EREV versions, a previous regulatory filing shows.

China will need 1,000-1,200 GWh of power battery capacity by 2025, but the industry is already planning for 4,800 GWh of capacity, according to Changan's chairman.