Gasgoo Daily: Foton Sept. sales down by 28.74% YoY

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.

Foton Sept. sales down by 28.74% YoY

Foton Motor Group sold 44,977 vehicles in September, representing a year-on-year decrease of 28.74%. For the first nine months this year, the group sold a total of 538,205 vehicles, up by 7.16% from a year ago.

Photo credit: Foton

China’s EV startup WM Motor expects to raise US$500 million

China’s electric vehicle (EV) startup WM Motor Holdings Limited announced on October 5 that it expected to raise over US$300 million in Series D1 funding round, with another US$200 million coming in Series D2 round.

GAC Group boasts YoY growth in Jan.-Sept. outputs, wholesales

For the first nine months of 2021, GAC Group scored year-on-year growth in both vehicle outputs and wholesales despite the coronavirus pandemic and the industry-wide chip shortage.

Changan Auto Sept. sales recover 14% MoM

China’s major auto group Changan Automobile witnessed a recovery in its September auto sales result, up 14% comparing to the previous month, while its year-to-date sales volume topped that of last year.

Dongfeng commercial vehicle subsidiary Sept. sales down 8% YoY

DFAC, the commercial vehicle manufacturing joint venture between Dongfeng Motor and Nissan, sold 14,082 vehicles in September, decreasing 8% from a year ago. The cumulative sales volume of DFAC was 143,114 vehicles for the first nine months this year, rising 13.31% year on year. 

Second model of GAC, NIO-backed HYCAN to go on sale in mid-October

HYCAN, a Chinese EV innovator backed by GAC Group and NIO, will formally put the HYCAN Z03, its second mass-produced model, onto the market on October 18, according to an official press release.

Evergrande Shanghai NEV research unit records surge in registered capital

Evergrande Hengchi New Energy Vehicle Research Institute (Shanghai) Co.,Ltd. (called “Hengchi NEV Research Institute), a research arm of Evergrande Group's new energy vehicle business, saw its registered capital surge 900% to 1 billion yuan ($155.2 million) on October 8, according to the business information provider Tianyancha.