OEM Trend
On May 18, Xiaomi EV announced that its dedicated GT model, the YU7 GT, will launch on May 21. The YU7 GT is positioned as a "dedicated GT" high-performance SUV. It focuses on long-distance travel and driving dynamics. The vehicle debuted at the Beijing Auto Show. It features a dual-motor all-wheel-drive system with a combined maximum power of 1,003 horsepower. The top speed is 300 km/h, and the CLTC range is 705 km.
On May 18, Luxeed announced that its panoramic smart flagship MPV, the Luxeed V9, secured over 10,500 orders within 48 hours of launch. Zhu Xiaodong, Executive Director and Executive Deputy General Manager of Luxeed, stated: "This achievement is due to every user who follows and supports us."
On May 18, Yang Bo, Assistant Vice President of User Operations at NIO, announced that the 110,000th unit of the all-new ES8 will be delivered this week. On April 23, NIO Founder, Chairman, and CEO William Li delivered the 100,000th all-new ES8. The ceremony took place at the NIO Experience Center in Beijing Future Science City. The recipient was Jiang Zheyuan, founder and chairman of Beijing Songyan Power Technology Group.
The all-new Li Auto L9 began deliveries in Changzhou and Hangzhou, with more cities to follow. Launched on May 15, the L9 is Li Auto's first flagship SUV with embodied AI technology. The model offers two trims: the L9 Livis and the L9 Ultra. The Ultra version is priced at 459,800 yuan. The Livis version is priced at 509,800 yuan.
At the 18th Xuanyuan Automotive Blue Book Forum, NIO Founder, Chairman, and CEO William Li stated that Firefly has no plans for a second model. Li noted that Firefly holds a 70% share in the premium small car segment. Therefore, a second model is unnecessary. Development can proceed under the NIO and Onvo brands. There is no requirement to add another model to the Firefly lineup. Previously, NIO launched a refreshed Firefly model. It retains the triple-headlight design and features a new dual-tone alloy wheel in a star track pattern.
Supply Chain News
On May 18, Gestamp released its Q1 2026 financial report. The company generated quarterly revenue of 2.8 billion euros. Despite pressures from currency fluctuations and declining industry production, Gestamp achieved stable profitability. It optimized debt through cost reduction and efficiency gains.
The Shanghai Stock Exchange disclosed that Changxin Technology (CXMT) submitted a prospectus with updated financial information. The chipmaker, established nearly a decade ago, achieved positive annual net profit attributable to shareholders in 2025. In the first quarter of 2026, revenue reached 50.8 billion yuan. Net profit was 24.762 billion yuan.
HSAE JAPAN inaugurated its technology center in Kōhoku-ku, Yokohama. The new Shin-Yokohama office is now operational. HSAE's international expansion began in 2019 with the establishment of its Japanese branch. The company expanded globally by establishing a client engagement mechanism to strengthen market cooperation.
CATL and the Xiamen municipal government strengthened their strategic partnership. They signed related projects to accelerate the construction of the Xiamen Zero Carbon Technology City. This aims to deepen cooperation across the new energy industry chain. CATL and Xiamen will advance the planning of the Zero Carbon Technology City. They will enhance cooperation in R&D innovation, industrial clustering, and scenario demonstration. The goal is to build a national zero-carbon industry benchmark and a new energy innovation hub.
Industrial Focus
Hong Kong stocks closed lower on May 18. The Hang Seng Index fell 1.11% and the Hang Seng Tech Index dropped 1.95%. Auto stocks led the decline. Li Auto-W fell over 14%, while Leapmotor dropped more than 7%. Great Wall Motor declined nearly 4%, and NIO-SW fell over 3%. Most semiconductor stocks also declined. Innoscience dropped nearly 7%, and SMIC fell more than 3%.
On May 18, a note from China Securities stated that Zimbabwean lithium spodumene exports have resumed. Mining companies have begun shipments. This is expected to supplement domestic supply between late June and early July, easing concerns of a lithium shortage. However, short-term lithium inventories remain low. Processing fees are depressed, putting cost pressure on companies purchasing external ore. The tight supply reality is set to persist. Demand remains robust. Energy storage orders are fully booked, and power demand continues to rise. Battery inventory requirements are increasing following new model launches. Strong overseas EV performance and expanding exports are driving power battery shipments. According to SMM, sample lithium salt inventories stood at 101,000 tons this week. This is a decline of 1,255 tons week-on-week. Destocking is expected to continue through May and June, supporting lithium prices.
Sun Rongyi, vice president of Spirit AI, stated that the future market size for embodied intelligence is projected to reach "smartphone sales multiplied by vehicle prices." By 2035, with the widespread adoption of embodied intelligence, the market scale is expected to exceed 1 trillion yuan.
TransFuture Aviation, a dedicated eVTOL enterprise, recently completed a Pre-A+ funding round exceeding 100 million yuan. The funds will accelerate the airworthiness certification of its Honghu series eVTOLs. The capital will also support development and innovation in low-altitude travel and commercial scenarios.
Policy Dynamics
According to the "Detailed Rules for the Implementation of Shanghai's 2026 Automobile Replacement Subsidy Policy" (Shanghai Shang Market [2026] No. 24), the city allocated funds. It used 18.198682 million yuan from 2026 ultra-long special treasury bonds. This subsidized 1,227 approved applications for vehicle scrapping and replacement in the third batch of 2026. Additionally, under the same policy, 97.71472 million yuan from the 2026 ultra-long special treasury bonds was allocated. This covered 7,790 approved applications for vehicle trade-in subsidies in the third batch of 2026. Furthermore, under the "Shanghai Measures for the Administration of Funds Supporting the Promotion and Application of Biodiesel from Waste Cooking Oil" (Shanghai Green Container Regulations [2025] No. 3), the city allocated funds. It arranged 3.941292 million yuan from the municipal special fund for energy conservation and emission reduction. This subsidized B5 biodiesel sales for two approved entities from January to February 2026.
