Gasgoo Daily: Chinese automakers report quarterly results

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.

JAC Jan.-Sept. net profit jumps 360% YoY

JAC Group reported a loss of RMB283 million in the third quarter while the net profit for the first three quarters surged 359.88% from a year ago to RMB195 million.

GAC Group quarterly net profit down by 64.7% YoY

GAC Group’s net profit attributable to the parent company plunged 64.71% year on year to RMB947 million in the third quarter, according to the company. Its quarterly revenue jumped 19.48% to RMB20.8 billion.

GAC AION to build pilot production line for in-house developed battery

GAC AION, the subsidiary of GAC Group, will invest a total of RMB336 million to build pilot production line for in-house developed battery.

Photo credit: GAC Group

Great Wall Motor reports increase in quarterly revenue

Great Wall Motor reported net profit of RMB1.416 billion, down by 1.72% from a year earlier while its quarterly revenue increased 10.13% year on year to RMB28.87 billion.

SAIC Motor new branch to run R Auto independently

China’s largest automobile company SAIC Motor announced a new company to be responsible for the independent operation for its R brand today, and named the head of the new company.

NIO Oct. car deliveries impacted due to retooling of production line

NIO will delay the delivery of some vehicles, which are supposed to be handed over to consumers in October, as its vehicle production was affected this month by the modification works at the JAC-NIO Advanced Manufacturing Center in Hefei, according to a notification NIO released on Oct. 29.

China has world’s largest charging network by Sept.

By the end of Sept. 2021, there were 2.223 million charging piles across China, up 56.8% from the same period last year, according to the China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA). Those facilities constitute the world's largest national charging network.

SAIC Motor sees Q3 net profit drop 14.75% YoY

In the third quarter of 2021 (reporting period), SAIC Motor saw its gross revenue dip 13.17% year on year to 186.616 billion yuan ($29.201 billion), according to the latest financial results the company released on Oct. 29.

Tesla reportedly orders 45GWh batteries from CATL

Tesla has ordered 45GWh lithium iron phosphate (LFP) batteries from Chinese battery giant CATL for the production of next year, mainly for the Model 3 and the Model Y, local media outlet 36kr reported today, citing several sources who are familiar with the matter.

VOYAH to launch first electric MPV at the Guangzhou Auto show

VOYAH, the premium EV brand of Dongfeng Motor, unveiled the body in white of the brand’s first MPV model during an automotive event in Tianjin City, and the vehicle was scheduled to debut at the Guangzhou Auto Show.

NIO Announces Plan to Jointly Build Green Ecosystem in the Sanjiangyuan National Park

On Oct 29, NIO announced the plan to jointly build a green ecosystem in the Sanjiangyuan National Park together with the Sanjiangyuan Ecological Protection Foundation. NIO will provide its smart electric vehicles to the foundation, and build battery charging facilities to support the park patrol in the area.

CATL breaks ground for 50GWh lithium-ion battery manufacturing base in Yichun

On Oct. 28, CATL broke ground on a lithium ion battery manufacturing base in Yichun, China’s Jiangxi province, the battery titan announced via its WeChat account.

Former executive of chip developer Xilinx joins NIO as chief expert

Hu Chengchen, former director of the Labs Asia Pacific of Xilinx, the world's largest programmable chip developer, has joined Chinese EV startup NIO this month as chief expert and assistant to vice president, according to Mr. Hu's personal Linkedin account.

GAC Group's Q1-Q3 revenue leaps 28.64% YoY

For the first three quarters of 2021, GAC Group earned 55.117 billion yuan ($8.625 billion) of revenue, representing a 28.64% year-on-year growth, while saw its net profit attributable to shareholders climb 5.63% to 5.284 billion yuan ($826.769 million), according to the company's latest quarterly financial results.