Gasgoo Daily: XPeng says Brian Gu's high annual salary includes equity inventives

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.

XPeng says Briand Gu's high annual salary includes equity incentives

Photo credit: XPeng

It was recently reported that Brian Gu, Vice Chairman and President of XPeng, has an annual salary as high as 435 million yuan ($68.618 million). The company afterwards said this was a misrepresentation.

XPeng told a media outlet that over 90% of Mr. Gu's so-called 400-million-yuan-plus annual salary is from the equity incentives accumulated over the past several years.

CATL to inject capital in subsidiary of engine parts supplier FULIN P.M.

Chinese auto engine parts supplier Mianyang Fulin Precision Machining Co., Ltd. (“FULIN P.M.”) announced on Feb. 16 it has signed a supplemental agreement with three firms including CATL. Per the deal, CATL intends to inject 144 million yuan ($22.715 million) in the registered capital of Jiangxi Shenghua New Materials Co., Ltd. (“Jiangxi Shenghua”), a subsidiary of FULIN P.M. Upon completion of the transaction, CATL will hold a 20% stake in Jiangxi Shenghua.

Denza-branded MPV caught in spy shots

The spy shots of a camouflaged MPV were recently taken in a BYD's factory and have been exposed on Chinese social media platforms. It is said that the MPV will be under Denza, which was born as a premium brand 50/50 owned by BYD and Daimler, while will soon has BYD as its absolute majority controller.

Yunnan Yuntianhua to build JVs for NEV battery R&D, production, sale

Chinese chemical product supplier Yunnan Yuntianhua Co., Ltd. (“Yuantianhua”) on Feb. 17 announced the cooperation it formed with municipal government of Yuxi city, Yunnan Energy New Materials Group, Huizhou EVE Energy, and Huayou Holding Group to build two joint ventures focusing on the R&D, production and sale of new energy vehicle batteries and battery-related materials.

Baidu’s Apollo Go autonomous Robotaxi service comes to Shenzhen

Baidu Apollo’s Robotaxi service, Apollo Go, officially started pilot operation in the high-tech area of Shenzhen, Nanshan District, the autonomous driving developer, announced on February 17th.

Baidu Apollo, Samsung to launch co-developed V2X App soon

The autonomous driving arm of Baidu, Apollo, officially inked a strategic cooperation agreement with Samsung for intelligent V2X service.

Dongfeng Motor's premium EV brand VOYAH to foray into Norway in June 2022

On February 17th, VOYAH, the premium EV brand of Dongfeng Motor, officially announced its foray into the European market through Norway, becoming China's first state-owned new energy vehicle brand to expand globally.

SAIC Motor eyes annual sales of 120,000 vehicles in Europe in 2022

SAIC Motor will vigorously advance its deployment in the European market with the aim of selling over 120,000 new vehicles and deploying more than 1,200 sales and service outlets in 2022, the automaker said on Feb. 12.

China's Hainan puts over 9,000 NEVs on roads in Jan. 2022, up 571% YoY

In January 2022, there are 9,273 new energy vehicles (NEVs) newly deployed in the southern Chinese province of Hainan, representing a robust year-on-year hike of 571%, according to the Hainan Provincial Department of Industry and Information Technology.