China’s NEV credit ratios from 2021 to 2023 required to be 14%, 16%, 18%

Posted on 2020-06-22

Chinese policy makers have specified that the credit ratios of new energy vehicles (NEVs) are respectively required to be 14%, 16% and 18% for the year of 2021, 2022 and 2023, rising from 10% and 12% formerly requested for 2019 and 2020. It is a part of contents contained in the Amendments to the Measures for the Parallel Administration of the Average Fuel Consumption and New Energy Vehicle Credits of Passenger Vehicle Enterprises (hereinafter referred to as the “Amendments”, or the “Amendments..   [ read more ]

BYD Semiconductor to raise 800 million yuan from 30 investors

Posted on 2020-06-17

 BYD Company Limited (BYD) announced on June 15 its subsidiary BYD Semiconductor Co.,Ltd. has introduced another 30 strategic investors, which will give it significant impetus to the process of becoming a publicly-listed company. The investors agreed to make a capital increase of 799,999,999 yuan ($113,008,720) to BYD Semiconductor based on the latter’s valuation of 7.5 billion ($1,059,456,750) before investment, of which 32,021,077.24 yuan ($4,523,326) will be included in the subsidiary’s..   [ read more ]

BYD Semiconductor to raise 800 million yuan from 30 investors

Posted on 2020-06-17

 BYD Company Limited (BYD) announced on June 15 its subsidiary BYD Semiconductor Co.,Ltd. has introduced another 30 strategic investors, which will give it significant impetus to the process of becoming a publicly-listed company. The investors agreed to make a capital increase of 799,999,999 yuan ($113,008,720) to BYD Semiconductor based on the latter’s valuation of 7.5 billion ($1,059,456,750) before investment, of which 32,021,077.24 yuan ($4,523,326) will be included in the subsidiary’s..   [ read more ]

Geely Auto seeks to raise money through placing of shares

Posted on 2020-06-01

Geely Automobile Holdings Limited (Geely Auto) announced on May 29 it has signed an agreement with placing agents, pursuant to which the latter agreed to make their best efforts to have placees procure 600,000,000 placing shares at the price of HK$10.8 per share. The placing shares represent roughly 6.51% of the current issued share capital of Geely Auto and approximately 6.11% of the company’s issued share capital as expanded by the allotment and issuance of the placing shares.  After de..   [ read more ]

Tianjin adds 35,000 license plates in 2020 as part of sales boost efforts

Posted on 2020-05-22

Tianjin has added 35,000 license plates of non-commercial cars to its 2020 annual quotas to spur automobile sales, according to a document issued by Tianjin Municipal Government on May 20. All newly-added car plates will be allocated in the form of lottery by the Tianjin Municipal Transportation Commission on a monthly basis, said the government. Aside from Tianjin’s residents, consumers who have Beijing or Hebei’s local household registration permits will be allowed to bid for the car number p..   [ read more ]

China-made Tesla Model 3 Long-range RWD comes off prodution line ahead of schedule

Posted on 2020-05-15

The long-range rear-wheel-drive (RWD) version of the China-built Model 3 has rolled off the production line ahead of schedule, and is soon to be handed over to consumers, Tesla announced on May 14 via its Sina Weibo account. The price of the homegrown model will remain unchanged after July 22, the expiry date of a three-month grace period China’s policy makers set for the newest NEV subsidy policy. China's government stated in late April that the state's NEV subsidy will be extended by two yea..   [ read more ]

Forthcoming GAC NE’s Aion V features all-electric range of up to 600km

Posted on 2020-05-14

GAC NE, GAC Group's NEV arm focusing on Chinese market, will put the Aion V, the third mass-produced model of its Aion series, onto the market on June 16, 2020, according to a post on GAC NE's WeChat account. The upcoming all-electric model is at present available for presale with a post-subsidy price starting RMB170,000 (around $23,954). Based on NEDC-rated range, it will be offered in three variants—400km, 530km and 600km. The Aion V is a pure electric compact SUV that sits below the Aion LX..   [ read more ]

BMW Brilliance expanding R&D hub’s second phase partly for NEV push

Posted on 2020-04-23

BMW Brilliance Automotive (BBA) recently kicked off the expansion of its R&D hub's second phases as BMW Group is forging ahead with its localization strategy and NEV push in China. The expansion project is designed to upgrade the equipment at the experiment center and test workshop, and is set to be finished around 2022. Upon the completion, the revamped facilities will help the automaker improve its development and verification capabilities involving multiple links like power battery, elec..   [ read more ]

FAW Group forms tie-ups with seven companies for digital transition

Posted on 2020-04-23

FAW Group forged on April 20 strategic partnerships with seven industry-leading suppliers of digital solutions, signaling its resolution in shifting towards a digital product and service provider. Based on the idea of innovation, coordination, opening-up and sharing, FAW Group and its partners will carry out in-depth cooperation in technologies, data, talents and business creativity so as to speed up the building of automotive digital ecosystem, the state-owned automaker said. The seven pa..   [ read more ]

Toyota’s three BEV models to go on sale in China in late April

Posted on 2020-04-21

Japanese automaker Toyota announced it will put three BEV models onto the China market in late April, formally starting its all-electric course from the world's biggest auto market. The upcoming advent of three models involves the C-HR EV, IZOA EV and the Lexus-branded UX 300e, which is set to hit the market on April 26. As the first production model under the Lexus Electrified banner, the battery-powered UX 300e was built on the basis of the UX crossover with the latter's signature design and..   [ read more ]

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