GAC

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.

In the past two years, the two joint ventures have not progressed well. For GAC Nio and Changan Nio, Nio co-founder Qin Lihong said Nio is just an investor.

The AION V has the world's first 5G and V2X in-vehicle intelligent communication system and is equipped with the world's first automotive-grade 5G module MH5000 - based on Huawei's new-generation Baron 5000 5G chip.