BYD chairman Wang Chuanfu doubled the amount of his proposed buyback of the company’s shares in the A-share market to RMB 400 million from RMB 200 million and will be used to reduce registered capital. Read more…
Category: CnEVPost
Nio’s swap station in Denmark has begun offering frequency regulation service to power grid
The service barely affects battery swap stations’ ability to provide service to car owners, with one station bringing in revenue in the tens of thousands of euros a year, according to a Nio vice president. Read more…
Lotus Tech debuts on Nasdaq with slightly lower market cap than Nio
Lotus Technology has a market capitalization of $9.3 billion, higher than Xpeng’s $8.1 billion and slightly lower than Nio’s $11.2 billion. Read more…
BYD’s battery unit FinDreams commits to carbon neutrality by 2045
“Against the backdrop of increasingly severe global climate change, we must take proactive measures to reduce carbon emissions,” FinDreams said. Read more…
Li Auto fires 2 employees for unauthorized paid interviews
The actions of the two employees led to the leakage of the company’s trade secrets, with serious consequences, Li Auto said. Read more…
BYD launches refreshed Dolphin, reducing starting price by 15%
The updated BYD Dolphin has a starting price of RMB 99,800, which is RMB 17,000, or 14.55 percent, lower than the previous starting price. Read more…
Tesla recalls 8,700 cars in China as reverse camera image may fail to display
Some of the vehicles included in the recall have unstable camera integrated circuit communication due to a software issue that may cause the reverse camera image to fail to display, according to an announcement. Read more…
Xiaomi denies after report says Xiaomi EV buyers could get free Beijing license plates
Earlier today a report claimed that Xiaomi may offer 2,000-3,000 free Beijing license plates as a promotional effort. Read more…
Nio testing use of humanoid robots on factory production line
Humanoid robot maker UBTech showed its Walker S robot working on an assembly line at a Nio factory in a video. Read more…
CPCA expects China’s Feb NEV retail sales at 380,000, down 43% from Jan
China’s auto market saw seasonal weakness in February as the 2024 Lunar New Year holiday fell in mid-February, the CPCA noted. Read more…
HiPhi founder apologizes to employees, says firm has only 3-month window left
Ding Lei said that he was using old-fashioned business strategies and was no match for his counterparts from Internet companies. He also said that there have been companies expressing interest in HiPhi, including acquisitions and investments. Read more…
Nio to report Q4 earnings on Mar 5
Nio delivered 50,045 vehicles in the fourth quarter, exceeding the upper end of its previous guidance range of 47,000 to 49,000 vehicles. Read more…
Huawei strikes strategic partnership with Dongfeng’s electric off-road brand M Hero
Huawei and M Hero are still discussing specific partnership models, with those based on parts supply or the HI model being prioritized. Read more…
Nio needs to sort out its strategic direction to turn profitable in foreseeable future, analysts say
Nio still needs to get its strategic direction sorted out before it can expect to turn profitable in the foreseeable future, particularly for its second brand, Alps, analysts at CMB International said. Read more…
Nio App resumes showing wait times, most models 2-4 weeks
ET5 Touring, ES6, EC6, EC7, ES8 all have wait times of 2-4 weeks, while the ET5 has 9-11 weeks and the ES7 11-13 weeks. Read more…
Xpeng announces dealer partnerships in 5 overseas markets, local deliveries to begin in Q2
Xpeng established dealer partnerships in the UAE, Egypt, Azerbaijan, Jordan and Lebanon, with plans to expand to other European markets including Germany, the UK, Italy and France this year. Read more…
Nio starts taking orders for 2024 models: Prices unchanged, deliveries of 5 models to start in Mar
Deliveries of the new ES8, EC7, ES6, EC6, and ET5 Touring will begin in March, the ET5 in April, and the ES7 in May. Read more…
Great Wall-backed autonomous driving startup Haomo raises over RMB 100 million in new funding round
Haomo’s new funding is the first in the autonomous driving space after China’s Lunar New Year holiday, and one of the few large amounts raised in the space during the capital winter of the past couple of years. Read more…
Li Auto CEO calls on China to establish mechanism to facilitate M&As between automakers
Li Auto CEO calls on China’s policy makers to establish a mechanism to facilitate mergers and acquisitions between auto companies, amid widespread discussions over HiPhi’s production halt. Read more…
BYD’s battery unit FinDreams to supply blade battery cells to US parts supplier BorgWarner
FinDreams’ cells will be used in BorgWarner’s LFP battery packs for commercial vehicles in Europe, the Americas and selected parts of Asia-Pacific. Read more…
