Gasgoo Daily: WM Motor reportedly ready for overseas IPO

With Gasgoo Daily, we will offer important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

WM Motor ready for overseas IPO

Sources said that Chinese vehicle startup WM Motor is adjusting its stake structure and likely to raise money via a new round in the fourth quarter of this year, to make preparation for an IPO overseas.

Chery QQ Ice cream to come into market in November

The Chery QQ Ice cream, which rivals against at the Wuling Hongguang MINIEV, will come into the market in November.

Photo credit: Chery

Daily PV retails in second week down 12% YoY

Data from the China Passenger Car Association shows that the average daily retail sales of passenger vehicles decreased by 12% from a year ago to 36,000 vehicles.

BYD intends to replace oil-fueled cars with DM-i models

BYD is gradually decreasing the proportion of oil-fueled vehicles in production and attempts to replace ICEV (internal combustion engine vehicle) with DM-i models in the future, the company recently disclosed at a meeting held for investors.

Xiaomi invests in another automotive parts supplier

KH Automotive Technologies Co., Ltd. (KHAT), has added Xiaomi-backed joint venture company Yangtze River Xiaomi Industry Fund to its list of shareholders, with an RMB700,000 increase in registered capital, according to Tianyancha, a Chinese corporate registry information platform.

XPeng’s fifth-generation “flying car” Voyager X2 expected to be launched in 2024

XPeng Huitian, the electric flying car company owned by XPeng, expects to launch in 2024 its “fifth-generation flying car” dubbed “Voyager X2”, whose research and development is being underway, Zhao Deli, founder of XPeng Huitian, revealed at the 2021 World New Energy Vehicle Congress (WNCVC).

Leapmotor partners with China Construction Bank, securing RMB10 billion in capital

China’s EV startup, Leapmotor, has signed a strategic agreement with China Construction Bank, Zhejiang provincial Branch.

Beijing-led city cluster to deploy at least 5,300 FCVs in 2021-2025

For the year of 2021 to 2025, at least 5,300 hydrogen fuel cell vehicles (FCVs) will be deployed for demonstration in the Beijing-Tianjin-Hebei region, involving 10 scenarios including the passenger transport at the 2022 Beijing Winter Olympics, port operations, transportation of commodities, logistics distribution, and buses, the Beijing Municipal Commission of Economy and Information Technology said at a press conference on Sept. 14.

Xiaomi partners with vehicle MCU company YTMicro with strategic investments

China's tech giant Xiaomi, who recently joined the intelligent automaking industry, has entered into a strategic agreement with China's auto-grade MCU company, YTMicro, whose latest financing round got funds from Yangtze River Xiaomi Industry Fund, Xiaomi's joint venture with the Hubei provincial government.