We have been incurring loss since inception. We incurred operating cash outflow for the year ended December 31, 2024 and our current liabilities exceeded current assets as of December 31, 2024.
Based on our going concern and liquidity assessment, which considers our business plan including revenue growth, working capital management and the ability to raise funds from banks under available credit quotas when needed, we believe that our financial resources, including our available cash and cash equivalents, restricted cash and short-term investments, cash generated from operating activities and funds from availa-ble credit quotas will be sufficient to support our continuous operations in the ordinary course of business for the next twelve months. Read more…
Author: cnevpost
BYD Fang Cheng Bao to start pre-sales of Tai 3 SUV on Mar 31, shares more images
Fang Cheng Bao will start pre-sales of the Tai 3 on March 31, as BYD continues to push forward with intensive new product launches.
The Tai 3 will be Fang Cheng Bao’s first pure electric model and the brand’s third model.
Li Auto open-sources its in-house developed car operating system Halo OS
The open-sourcing of Halo OS is expected to help the automotive industry save RMB 10 billion to 20 billion in research and development resources each year, said Li Auto CEO.
Li Auto expects Halo OS to be available in the open-source community starting at the end of April.
Xpeng P7+ deliveries exceed 40,000 units 4 months after launch
This means that the P7+ has delivered 7,153 units so far this month.
Xpeng’s other sedan, the Mona M03, is about to see cumulative deliveries exceed 100,000 units.
China NEV retail at 622,000 in Mar 1-23, up 40% from same period last month
China’s NEV retail penetration rate was 53.90 percent in March 1-23, and 47.30 percent year to date.
From March 1 to March 23, retail sales of all passenger cars in China were 1.154 million units, an increase of 18 percent year-on-year and up 25 percent month-on-month.
Nio signs deal with Beijing state-owned firm to build 100 swap stations
Nio has teamed up with Future Science City Group in Beijing to jointly build 100 battery swap stations.
This is the second partnership Nio has announced with a state-owned enterprise to build 100 battery swap stations.
BYD’s 1st 1,000-kW ultrafast charging stations to be ready for use in early Apr
BYD is pushing ahead with the construction of 4,000 1,000-kW flash charging stations, with the first batch of about 500 ready for use in early April.
The 1-MW flash charging can add 400 kilometers of range to a vehicle in five minutes.
CATL’s planned HK listing gets green light from Chinese mainland securities regulator
CATL received approval from the Chinese mainland securities regulator to move forward with its planned listing on the main board of the Hong Kong Stock Exchange.
CATL’s Hong Kong listing will raise at least $5 billion and will be the city’s biggest in four years.
Tesla drops ‘FSD’ from name of its smart driving software in China
Tesla has changed the name of its software package priced at RMB 64,000 ($8,820) in China to one that does not include the word “FSD”.
It recently suspended the planned one-month free trial of FSD, as the software needs to complete the necessary approvals.
BYD aims to sell 5.5 million cars in 2025, report says
BYD’s sales target for 2025 is 5.5 million vehicles, including more than 800,000 in overseas markets, according to local media.
BYD’s brand sales growth target is within 10 percent, and the other three higher-end sub-brands target higher growth rates.
BYD officially launches compact electric SUV Sealion 05 EV, starting at $16,230
The Sealion 05 EV has a CLTC range of up to 520 km and comes standard with the God’s Eye C smart driving system.
The Sealion 05 EV further enriches BYD’s Sealion family of products, which also includes the Sealion 07 EV and Sealion 05 DM-i.
Lynk & Co starts pre-sales of Lynk & Co 900 large SUV, priced from $45,460
The Lynk & Co 900 is Lynk & Co’s largest vehicle to date, measuring 5,240 mm in length, and will be officially launched in late April.
The Lynk & Co 900 is expected to compete with large SUVs such as the Aito M9, Li L9, and Denza N9.
Avatr officially launches Avatr 012 luxury sedan, priced from $96,420
The four-seat Avatr 012 is based on the Avatr 12 electric sedan and is limited to 700 units worldwide, targeting high-end groups that value fashion.
The Avatr 012 uses CATL’s Qilin Battery, supports 5C charging, and has a CLTC range of 650 km.
Avatr officially launches Avatr 012 luxury sedan, priced from $96,420
The four-seat Avatr 012 is based on the Avatr 12 electric sedan and is limited to 700 units worldwide, targeting high-end groups that value fashion.
The Avatr 012 uses CATL’s Qilin Battery, supports 5C charging, and has a CLTC range of 650 km.
Xpeng has planned at least 5 EREVs, report says
Xpeng’s first EREV model will be developed based on the X9 MPV and will go into mass production in the second half of this year, according to local media.
Xpeng announced the Kunpeng extended-range system on November 16, 2024, marking an important strategic shift.
Neta reportedly strikes deal to turn some creditors into shareholders
Neta has reached a debt-to-equity swap agreement with 134 core suppliers worth more than RMB 2 billion ($275 million) to prepare for the resumption of production, according to local media.
Due to its high debt, potential investors want Neta to reduce its debt before they are willing to provide new investment.
Li Auto says it sold 8,600 cars last week
After suspending the sharing of weekly insurance registration data last week in response to CAAM’s call, Li Auto has resumed publishing the data, but only its own.
Li Auto’s sales last week increased 8.86 percent from the previous week’s 7,900 units.
Zeekr shares teaser video of hybrid SUV 9X, hinting at strong powertrain performance
The Zeekr 9X can accelerate from 0 to 100 km/h in less than 4 seconds, the EV maker said.
The Zeekr 9X will be officially unveiled at the Shanghai auto show in April and officially launched in the third quarter.
BYD reports record Q4 net income as NEV sales soar
BYD’s net income in the fourth quarter was a record RMB 15.02 billion ($2.07 billion), as NEV sales reached an all-time high.
BYD’s revenue in 2024 exceeded $100 billion for the first time, surpassing Tesla.
William Li talks about Nio’s product roadmap, profitability prospect in wide-ranging interview
The Nio main brand will have a highly anticipated model in the fourth quarter, and Onvo will also begin deliveries a new model in the fourth quarter, which may be called the L80.
Li once again emphasized that Nio will achieve profitability in the fourth quarter, otherwise it will be a major test of its business model.
