Market & Industry
Li Auto establishes EV technology development subsidiary in Shanghai
Li Auto establishes EV technology development subsidiary in Shanghai

Chinese EV startup Li Auto set up its Shanghai branch on April 20 after it announced in early February the plan of launching a R&D center in this megacity.

Apr. 22 , 2021
ByteDance sets up subsidiary for car, auto parts sales
ByteDance sets up subsidiary for car, auto parts sales

ByteDance, the Chinese parent of the hit video app TikTok, founded on April 19 a subsidiary engaging in telecommunications and automobile businesses.

Apr. 21 , 2021
Changan Automobile scores 225.6% year-on-year hike in 2020 net profit
Changan Automobile scores 225.6% year-on-year hike in 2020 net profit

In 2020, Changan Automobile saw its full-year net profit attributable to shareholders soar 225.6% from a year earlier to 3.324 billion yuan ($511.573 million).

Apr. 20 , 2021
GAC Aion to pour 500 million yuan in car plant expansion
GAC Aion to pour 500 million yuan in car plant expansion

GAC Aion announced on April 15 it plans to double the annual capacity of its intelligent ecosystem manufacturing plant to 200,000 new vehicles in early 2022 with nearly 500 million yuan ($76.624 million) to be invested.

Apr. 16 , 2021
NIO, Sinopec ink agreement to co-develop battery swap business
NIO, Sinopec ink agreement to co-develop battery swap business

NIO and Sinopec, the Chinese state-owned oil producer, signed an agreement on April 15 for a strategic cooperatiob on battery swapping stations.

Apr. 15 , 2021
XPeng’s LiDAR-enabled P5 sedan makes debut
XPeng’s LiDAR-enabled P5 sedan makes debut

XPeng officially launched its third production model and also the first sedan model, the XPeng P5, on April 14. One of big selling points is that the P5 is the world's first mass-produced smart electric vehicle (EV) model equipped with LiDAR.

Apr. 14 , 2021