Gasgoo Daily: HOZON Auto given credit line worth 2 billion yuan from Bank of Shanghai

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.

HOZON Auto given credit line worth 2 billion yuan from Bank of Shanghai

Bank of Shanghai, HOZON Auto signing agreement; photo credit: HOZON Auto

On Dec.9, HOZON Auto and Bank of Shanghai signed an agreement for strategic cooperation on supply chain financing, green finance, retail finance, and other businesses. Meanwhile, the EV startup obtained from Bank of Shanghai a credit line worth 2 billion yuan ($314.036 million), which will be used for the development and application of intelligent cockpits and intelligent driving technologies, the manufacturing of high-quality smart vehicles, and the building of sales & service systems.

GAC Mitsubishi's first full-electric SUV rolls off production line

GAC Mitsubishi saw its first all-electric SUV, the AIRTREK, roll off the assembly line on Dec. 10. The model has been available for presale and is expected to hit the market in March 2022.

Volkswagen Group China to welcome new director

Volkswagen brand CEO Ralf Brandstaetter will take charge of the Volkswagen Group's China operations, taking reins from Stephan Woellenstein.

Soueast Auto unveils new brand identity, three new models

Chinese automaker Soueast Auto on Dec. 9 unveiled a new logo alongside three all-new models, namely, the DX9, the Soueast N7, and the Soueast A7.

CATL, BYD make up 68% of China's Jan.-Nov. installed power battery capacity

Regarding the year-to-date installed capacity, CATL and BYD together accounted for 68% of the country's total volume. Compared to the rankings based on Jan.-Oct. performance, SVOLT surpassed EVE Energy to the sixth place.

Pony.ai greenlighted open road autonomous driving test in Shenzhen

China's leading autonomous driving startup, Pony.ai, was granted the intelligent connected vehicle road test license by the city of Shenzhen, starting autonomous driving tests on the city's open roads right away.

China November auto sales down 9.1% YoY

China's vehicle sales in November achieved better results than expected, in spite of such challenges as automotive chip supply pressure and changes in regulations and policies, the China Association of Automobile Manufacturers (CAAM) said on Friday.

China has 2.385 million EV charging piles by Nov. 2021

By the end of Nov. 2021, there were 2.385 million charging piles deployed across China, up 55% from the same period of last year, according to the China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA).

Court seizes Beijing Borgward's RMB2.2 billion assets for creditors

The commercial vehicle subsidiary of BAIC Group, Foton, announced that its subsidiary Beijing Borgward received a court-ordered seizure for its RMB2.2 billion worth of assets, petitioned by creditors.

NIO fulfills annual target of battery swap station deployment ahead of schedule

NIO installed its 700th battery swap station in China on Dec. 10, hitting its annual target ahead of schedule, according to NIO’s press release.

Tesla Models 3's new versions unveiled in MIIT's patent images with lower e-motor output

The Tesla Model 3, currently one of hotter-selling all-electric sedan models in China, will soon get two new versions with lower e-motor power outputs, according to the Ministry of Industry and Information Technology (MIIT)'s documents.