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