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Yicai reported on March 12 that BYD kicked off a massive recruitment drive across its Shenzhen Ebu and Xiaomo parks. The automaker is looking for over 1,000 operators, offering monthly wages between 5,500 and 6,500 yuan, while more than 1,100 technician positions are open—with top pay hitting 10,000 yuan. Separately, the Xi'an plant is hiring over a hundred staff, and BYD's 2026 global spring campus recruitment kicked off in early March. According to reports, BYD Group's headcount has now surpassed 900,000, making it the largest employer among A-share listed companies.
On March 12, the 2026 Appliance & Electronics World Expo (AWE 2026) opened in Shanghai, where Dreame Technology—a newcomer to the auto sector—unveiled its full vehicle lineup for the first time. The technical details revealed on-site quickly became a focal point for the automotive segment of the show. Company sources told media the debut model leans toward a sporty style, with the displayed design already close to the final production version—'changes won't be major.' On pricing, Dreame is squarely targeting the Xiaomi SU7 Ultra, with an expected range between 600,000 and 700,000 yuan.
On March 12, Avatr Technology President Chen Zhuo announced that alongside the new Avatr 12, the Avatr 06T will be among the first vehicles equipped with Huawei's Qiankun LiDAR—the world's highest-density 896-line unit for mass production. The system promises to 'see clearer, see further, and see more comprehensively.'
BMW Group released its 2025 financial results on March 12, confirming it met its annual targets. Full-year revenue came in at 133.45 billion euros, down 6.3% year-on-year. Despite significant tariff headwinds, the group once again delivered earnings before tax (EBT) exceeding 10 billion euros—specifically 10.24 billion euros, compared to 10.97 billion euros in 2024, a 6.7% decline. The EBT margin held steady at 7.7%, while net profit topped 7 billion euros to reach 7.45 billion euros, a 3.0% drop from 7.68 billion euros a year earlier.
On March 12, Honda Motor projected an operating loss between 270 billion and 570 billion yen for fiscal year 2026 (April 1, 2025, to March 31, 2026). That marks a sharp reversal from its previous forecast of a 550 billion yen profit and falls well short of the market's estimate of 709.35 billion yen. The automaker also anticipates a net loss of 420 billion to 690 billion yen, compared to a prior outlook for a 300 billion yen profit and a market consensus of 462.59 billion yen. Honda maintained its sales revenue forecast at 21.10 trillion yen, slightly above the market estimate of 21.08 trillion yen.
Skyworth founder Huang Hongsheng recently voiced strong confidence in new energy vehicles, noting that charging costs less than a tenth of refueling and relies on an inexhaustible energy source. He predicted that from 2026 to 2050, the market will effectively be all-electric, driven by lower costs and independence from oil-related conflicts. Facing intense 'involution'—or hyper-competition—at home, Skyworth is looking abroad, aiming to become the Transsion Holdings of the automotive world.
A visit to Xiaomi's Beijing Yizhuang factory revealed a parking lot packed with the next-generation SU7, with finished vehicles already being dispatched to dealerships nationwide. Nearly 20 logistics trucks were on site awaiting loading. During a one-hour observation outside the plant, roughly 80 new SU7s were shipped out. At that pace, daily shipments of the new model could reach 800 units, suggesting March production prep is ramping up to around 16,000 vehicles.
Supply Chain News
RoboSense announced on March 12 that it has secured the exclusive contract for LiDAR on Baidu Apollo Go's next-generation, mass-produced Robotaxi. Under the partnership, RoboSense will outfit the new vehicle with its EM4 high-line digital main LiDAR, paired with the all-solid-state E1 fill-in LiDAR. This 'main plus fill' combination delivers 360-degree blind-spot-free perception, aiming to boost the safety and efficiency of the autonomous ride-hailing service.
Hesai Technology announced on March 12 that its second-generation pure solid-state fill-in LiDAR, the FTX, has been selected for Changan Automobile's next-generation smart L3 platform. The partnership aims to accelerate the deployment of advanced intelligent driving systems in mass-produced vehicles, with the system touted as 'among the first batch of L3 LiDARs in China.'
Suzhou Industrial Park and iSoftStone Group recently signed a strategic framework agreement. The deal calls for integrating resources to build a smart manufacturing base and a general headquarters within the park, alongside an international business hub and a smart terminal innovation center. Future collaboration will focus on high-end software services and industrial ecosystem synergy, aiming to drive high-quality development in the region's industrial clusters.
Wuhan Economic and Technological Development Zone announced recently that ZF's EMB (Electro-Mechanical Brake) production line project will be established in the district. During a recent symposium, the zone and ZF agreed to accelerate the implementation of the EMB line and other projects, building on their existing partnership.
Industrial Economy
Data from the China Passenger Car Association (CPCA) on March 12 showed global auto sales reached 96.89 million units in 2025, a 6% annual increase. January 2026 saw 71.8 million units sold worldwide, up just 1% as growth cooled alongside a slowdown in the Chinese and U.S. markets. China's global share has climbed steadily since 2020, hitting 33.8% in 2023 and 34.2% in 2024 before peaking at 35.4% for all of 2025. In January 2026, China captured 32.7% of the global market—a stable performance.
The CPCA reported on March 12 that new energy vehicles accounted for 44.9% of retail passenger car sales in February, down 4 percentage points from a year earlier. Breaking down the February retail data, NEV penetration among domestic brands stood at 64.5%, while luxury brands reached 32.6%. In contrast, mainstream joint-venture brands lagged significantly at just 4.5%.
ZERONTRUCK announced on March 12 that it has closed a new 1.2 billion yuan funding round, coming just six months after a 500 million yuan Series A round in mid-2025. The latest round was co-led by Puquan Capital (CATL's sole industrial investment platform), Momenta, and NIO Capital. Participants included Anhui Lingtong Group, Fangguang Investment, InnoVen Capital, Joy Capital, Shenneng Chengyi, and Blue Lake Capital, with existing shareholder Huoshui Capital also increasing its stake.
Driven by policy support and insurer initiatives, the development of commercial auto insurance for the 'vehicle-battery separation' model is accelerating. Industry insiders suggest this approach can lower purchasing and insurance costs for EV buyers in specific scenarios. However, it also demands higher capabilities from insurers in risk identification, pricing, and claims processing, meaning a shift from pilot programs to widespread adoption will take time. Ultimately, the EV insurance market may feature a dual-track system with both integrated and separated battery models.
