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.
Valeo opens Thermal Systems Global Innovation Center in Jingzhou
Recently, Valeo officially inaugurated its Thermal Systems Global Innovation Center in Jingzhou Economic & Technological Development Zone, Hubei province, marking a further step in deepening its R&D footprint in China and strengthening its support for global markets.
The center is upgraded from Valeo China Thermal Systems R&D Center and will focus on the development of standardized products for Valeo's thermal systems business, with particular emphasis on passenger cabin thermal comfort management and engine thermal management innovation. The move aims to enhance Valeo's development and design capabilities, improve global R&D collaboration, and respond more efficiently to technological transformation in the automotive industry.
Jingzhou has been Valeo's starting point in China since 1994, when the company established its first local factories and introduced automotive air-conditioning business to the country. Key milestones include:
✅ 2012 & 2018: Phase II and Phase III of Valeo's heat exchange projects launched in Jingzhou
✅ 2021: Valeo China Thermal Systems R&D Center completed
✅ 2024: Valeo Comfort and Driving Assistance Systems vehicle testing base put into operation
Valeo has since grown into one of Jingzhou's leading automotive component enterprises. The local auto parts industry is part of Jingzhou's "23515" modern industrial system and is also recognized as a key industrial cluster supported by Hubei province.
Apollo Go and Uber to launch fully driverless service in Dubai
On February 10, Apollo Go and Uber jointly announced the deepening of their strategic cooperation, with plans to launch fully driverless ride-hailing services in Dubai, the United Arab Emirates, in the first quarter of 2026. This marks the first deployment of such services in Dubai and represents the official entry of Chinese autonomous driving technology into the Middle East's high-end mobility market.
Earlier in January 2026, Apollo Go partnered with AutoGo to begin fully driverless commercial operations in Abu Dhabi, where users can access the service via the AutoGo App. The Dubai deployment further strengthens Apollo Go's presence in the UAE.
Global footprint highlights:
✅ Autonomous testing and mobility services planned for London, UK in 2026 through cooperation with Uber and Lyft
✅ Customized autonomous service "AmiGo" launched in eastern Switzerland in partnership with Swiss PostBus
✅ Smart mobility network spanning Europe and Asia
Operational scale as of October 31, 2025:
📌 Over 240 million kilometers of autonomous driving mileage globally
📌 Services covering 22 cities worldwide
📌 More than 17 million cumulative orders completed
The Dubai expansion aligns with the broader internationalization of Apollo Go's autonomous mobility ecosystem.
ECARX completes USD 100 million convertible bond issuance
On the evening of February 10, ECARX announced that its planned issuance of USD 100 million in convertible bonds (the "2025 Notes") under the Convertible Bond Purchase Agreement dated November 3, 2025, has been fully subscribed as of February 9, 2026.
Subscription breakdown:
✅ November 14, 2025: Initial investor subscribed USD 35 million
✅ November 26, 2025: Another investor subscribed USD 25 million
✅ February 9, 2026: Investor consortium subscribed the remaining USD 40 million
All 2025 Notes carry an initial conversion price of USD 2.62 per share, subject to customary adjustments as stipulated in the agreement.
Investors participating in the full USD 100 million subscription include: SPDB International (Hong Kong) Co., Ltd.; ICBC International Investment Management Co., Ltd.; CITIC Bank International (Hong Kong) Investment Co., Ltd.; Other international institutional investors
According to Shen Ziyu, Chairman and CEO of ECARX, the strong investor interest reflects confidence in the company's global development strategy.
He noted that in 2025, ECARX secured two cooperation projects with Volkswagen and initiated software collaboration with a well-known luxury brand. With the completion of this transaction, ECARX has refinanced its previously issued USD 65 million convertible bonds and obtained an additional USD 35 million in funding.
Combined with the USD 45.6 million strategic investment from Geely Holding in January 2026, the company now has sufficient liquidity to support its strategic vision in Automotive Physical AI development.
