With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
Dongfeng Stellantis Automotive Technology Established in Wuhan
New joint venture plans four NEV models for launch from 2027
·Dongfeng Stellantis Automotive Technology (Wuhan) Co., Ltd. was officially inaugurated in the Wuhan Economic and Technological Development Zone on August 20.
·The company has registered capital of approximately RMB 8.2 billion and is jointly funded by six investors, including Dongfeng Motor, Stellantis, and Dongfeng Peugeot Citroën Automobile (DPCA).
·Its equity structure comprises:
oDongfeng Peugeot Citroën Automobile: approximately 24.1%.
oDongfeng Motor: 13.5%.
oStellantis: 13.5%.
·The company will engage in vehicle R&D, industrial investment and new energy vehicle sales.
·Its initial product plan includes four new battery-electric and plug-in hybrid electric vehicle models for off-road, urban commuting and family mobility scenarios. Launches are scheduled to begin in 2027.
·Under the partnership, Dongfeng Motor will lead core new energy vehicle and intelligent connected vehicle technologies, Stellantis will contribute its brand resources and global distribution network, and the local investors will provide regional industrial support.
Chery Automobile Reports Stronger Margins and Overseas Revenue Growth in H1 2026
Overseas revenue approaches RMB 100 billion as NEV revenue rises 63.8%
·On August 20, the Hong Kong-listed Chery Automobile released its unaudited results for the six months ended June 30, 2026.
·First-half revenue reached RMB 143.28 billion, up 1.2% year on year, while gross profit rose 25.1% year on year to RMB 23.044 billion.
·Gross margin increased from 13% a year earlier to 16.1%. Profit for the period totaled RMB 9.016 billion, with a net profit margin of 6.3%. Profit attributable to owners of the company reached RMB 8.567 billion.
·Overseas revenue increased 51% year on year to RMB 98.968 billion. Chery Automobile operates 12 major production bases, including three overseas facilities, supported by sales and service networks across Europe, South America, Africa and the Middle East.
·New energy vehicle business revenue surged 63.8% year on year to RMB 59.284 billion, increasing its share of total revenue from 25.6% to 41.4%.
·R&D expenditure grew 28.3% year on year to RMB 6.672 billion, focusing on electrification, vehicle platform upgrades, driving-assistance solutions and intelligent cockpits.
Schaeffler and Shougang Steel Sign Low-Carbon Cooperation Agreement
Partnership targets low-carbon steel and supply-chain decarbonization
·Schaeffler and Shougang Steel signed a memorandum of cooperation on low-carbon and sustainable development on August 18.
·The companies will cooperate on low-carbon steel, carbon-footprint accounting and clean-energy applications to support the development of a greener steel supply chain.
·Other areas of cooperation include carbon-emissions regulations, low-carbon steel certification, low-carbon production processes and the recycling of scrap steel.
·The partners will calculate the carbon footprint of steel used by Schaeffler when appropriate, providing data to measure emissions reductions and explore the use of low-carbon steel across Schaeffler's supply chain.
·The initiative supports Schaeffler's goals of achieving climate-neutral production by 2030 and a climate-neutral supply chain by 2040.
