OEM Trend
On March 9, Qijing Auto announced its first model will be named the GT7. Positioned as a next-generation smart shooting brake, it is set to make its debut on March 17.
SAIC Motor stated on an investor interaction platform on March 9 that the application process for its Level 3 pilot access models is currently underway.
In a recent interview, XPENG Chairman He Xiaopeng addressed the "involution"—or cutthroat competition—currently sweeping the auto industry. He argued that while intense competition in China is to be expected, companies can still differentiate themselves through high-quality products and services. He suggested that the industry should look to Huawei and Apple as examples for creating high-quality, premium products, adding that XPENG aims to roll out superior vehicles and robots over the next five years.
Yin Tongyue, Party Secretary and Chairman of Chery Holding Group, told reporters that Chery remains firmly committed to resisting "involution" and pursuing high-quality development. He emphasized that the company will not engage in low-level price wars; instead, it aims to exit the "involution zone" and enter the "profit zone" through technological advancement, management empowerment, and quality upgrades. Furthermore, he stressed that China's auto industry has undergone a sea change—we must focus on zero-to-one original innovation rather than merely following others in one-to-hundred iterations.
Porsche is reportedly evaluating a major product overhaul that would merge the Taycan and Panamera into a single model line, offering internal combustion, plug-in hybrid, and pure electric powertrains within the same family. The initiative stems from a cost-cutting drive led by new CEO Michael Leiters. Facing sliding global sales and the high costs associated with Oliver Blume's strategic pivot on electrification last year, Porsche is tightening R&D spending. Slashing development costs has reportedly become one of Leiters' top priorities, and consolidating the Taycan and Panamera is seen as a potential path to achieving that goal.
Supply Chain News
On March 9, WeRide and Geely's Farizon New Energy Commercial Vehicle Group signed a strategic partnership agreement and unveiled the upgraded, mass-produced Robotaxi GXR. The companies announced plans to deliver 2,000 GXR units in 2026, deploying them in domestic and international markets as they move toward a new stage of global, large-scale commercial operations.
SVOLT recently released overseas shipment data for the first two months of 2026, revealing that overseas battery shipments totaled 1.66 GWh, equivalent to equipping 30,914 new energy vehicles. The share of overseas shipments climbed to 39%, sustaining the high-growth momentum seen in 2025. This marks a substantive breakthrough for the company's strategy of aggressively expanding its global footprint.
SK On's battery division is grappling with the impact of slowing EV sales, and the scale of layoffs at its Georgia plant has now surpassed one-third of the total workforce. Documents recently filed with the Georgia state government show that SK On's U.S. subsidiary, SK Battery America, laid off 958 employees at the Georgia facility—roughly 37% of its 2,566-person staff.
Sources revealed that Li Chuangqi, former head of Xiaomi's wearable business, has quietly launched a startup focusing on automotive photovoltaics, with plans to collaborate with Xiaomi. Sources cite two main reasons for this strategic choice. The first is to navigate non-compete restrictions—a common tactic, as seen when former Xiaomi executive Wang Teng moved into the health and sleep sector after leaving the company. The second is Li's confidence in the value and integration potential of the automotive PV sector. Industry expert Yan Jun remarked: "Once the technology matures, the integration of photovoltaics with vehicle bodies will become a core part of automotive engineering. It has high barriers to entry and is difficult to replicate, signaling a massive incremental market."
Industrial Economy
On March 9, Hong Kong's Hang Seng Index fell 1.35%, while the Hang Seng Tech Index slipped 0.12%. Net buying via southbound trading hit 37 billion Hong Kong dollars, a record high for a single trading day. Shandong Molong surged 25%, and MiniMax gained nearly 24%. Losses in the chip sector narrowed, with Hua Hong Semiconductor down 0.8% and SMIC falling 1.5%.
A recent report on China's new energy vehicle resale values for February 2026 indicates that while some popular NEV models maintain high retention rates after one year, the picture changes dramatically after three years. Most models see a significant decline in value, with retention rates generally falling below 70%.
Cui Dongshu, secretary-general of the China Passenger Car Association (CPCA), recently wrote that promotions and market downgrades across the passenger vehicle industry have returned to rational levels since the start of 2025, leading to significantly improved market order. With the reinstatement of the purchase tax for new energy vehicles, the impact of sticker prices on consumer tax liabilities has become more apparent. In January 2026, 17 models saw price cuts, followed by 6 in February. The market remained relatively restrained in February this year, including four internal combustion models—flat from a year ago—and two pure electric models, seven fewer than the same period last year.
On March 9, less than two months after disclosing its previous round, general robotics startup Futuring Robot closed another funding round worth hundreds of millions of yuan. Led by Boyu Capital, the round saw participation from existing investors like Lianxin Capital. Focusing on consumer home scenarios, the company has secured consecutive capital injections within just a few dozen days.
Simplexity Robotics made its official debut on March 9, announcing that it has completed five funding rounds in six months, totaling 2 billion yuan to become the youngest unicorn in the sector. The newly raised capital will be fully deployed into training base models, hardware R&D and iteration, data acquisition, and core algorithm development, accelerating the scaled application of embodied intelligence across multiple scenarios.
Policy Situation
On March 9, Supreme People's Court President Zhang Jun delivered a work report that shed light on judicial practices and rulings involving new types of crime and technology applications. Notably, the report clarified legal liability in the smart vehicle sector: drivers who are intoxicated remain criminally liable even if driver assistance features are engaged. This determination underscores that technology must adhere to legal boundaries, meaning the use of driver assistance systems does not exempt drivers from their duty of care and legal responsibility as the primary operator.
