GAC

Attracted by the initial success of Nio and the support of Chinese policy, the battery swap model for electric vehicles is about to see more players.

Carmaker's cooperation with Huawei is currently being highly watched, as the first model that went on sale in Huawei's channels - the Seres SF5 – has been well received in China.

GAC also plans to make its own brand of new energy vehicles account for more than 36 percent of all sales and hybrid vehicles account for more than 15 percent by 2025.

GAC Group announced at a conference on April 9 that it will work with Huawei to develop L4 self-driving cars for mass production in 2024.

Even at low temperatures, the battery with this technology can have a range of 650 kilometers, the company said.

GAC held a meeting with chip suppliers in January and ordered chips for the year according to its annual demand plan, it said.

GAC Nio, a joint venture between GAC and Nio, will soon change its name and will likely not include the word "Nio," according to yicai.com.

Vehicles equipped with graphene batteries are now moving towards mass production testing and will be further information will be released according to the progress of the project, GAC Group said in an exchange with investors on January 18.

Liao Bing, the CEO of GAC Nio, a joint venture between GAC Group and Nio, announced his impending departure at a staff meeting on January 7, jiemian.com said, citing insiders close to the company.

Industry expert says that the capital market has become more and more cautious about investing in new car companies in recent years and that it is still difficult to get recognition from the capital market without good sales performance despite the backing of well-known shareholders.