Deals

The first Fang Cheng Bao model to feature Huawei's Qiankun ADS 3.0 is the Bao 8 off-road SUV, which will go on sale after the third quarter.

The deal values Newcool at RMB 115 billion, the same as when Avatr bought a 10 percent stake earlier this month.

Newcool's business scope will cover full-stack solutions for smart cars and is expected to grow into China's largest smart car solution provider, analysts said.

After the transaction, Avatr will hold a 10 percent stake in Newcool, while Huawei will hold 90 percent.

Ganfeng plans to set up a joint venture in Turkey, which plans to invest $500 million to build a lithium battery project with an annual capacity of 5 GWh in Turkey.

Mercedes-Benz and Volcano Engine have signed a memorandum of strategic cooperation to collaborate in areas including large models, generative AI and big data.

CATL invested hundreds of millions of dollars in Autoflight, the first known CATL investment in an eVTOL maker.

Syensqo said it and Nio will work together to advance the application and development of more advanced materials for NEVs.

BYD said its partnership with Rever will expand from passenger cars to segments including commercial vehicles in the future.

BYD has signed a memorandum of understanding with Ayvens to distribute electric passenger cars and light commercial vehicles for European customers.