Gasgoo Daily: IM sets up new sales unit

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.

IM sets up new sales unit

SAIC Motor’s premium auto brand IM registers a new sales service company on March 15 with a registered capital of RMB50 million. The new firm’s business scope covers the sales of automotive parts, sales of charging piles. The new firm is wholly-owned by IM Motors Technology Co., Ltd.

Photo credit: IM

XPeng registers new company in Dongguan

XPeng’s sales subsidiary in Dongguan incorporates another sales service company in the city with a registered capital of RMB5 million. The new company’s business scope covers the evaluation of second-hand vehicles, sales of new energy vehicles and accessories.

Lynk&Co opens first virtual showroom in Baidu's metaverse

On March 14th, the local automaker, Lynk&Co, has officially launched its digital showroom in Baidu’s metaverse, XiRang, offering an innovative experience for users.

Midea Group plans to produce automotive chips in scale in 2024

On March 15th, China’s home appliance conglomerate, Midea Group, revealed that the company is planning to mass-produce automotive chips in 2024 for new energy vehicles' water pump control.

Hainan expects EV charging piles to cover all cities, counties, towns in 2022

EV charging piles are expected to fully cover all cities, counties, and towns in the southern Chinese island province of Hainan by the end of 2022, according to a document recently issued by the Hainan Provincial Development and Reform Commission.

China likely to be second country to recognize L3 autonomous vehicles

China local authorities are said to recognize autonomous driving vehicles as part of the open road traffic participants, therefore issuing L3 autonomous vehicles with official license plates, reliable sources told a local media outlet on March 14th.

FAW Audi denies to relocate sales unit to Hangzhou on April 15

FAW Audi is reportedly relocating its sales headquarters, namely FAW Audi Sales Co., Ltd., from Changchun to the southern city, Hangzhou on April 15th, local media outlets reported on March 14th.

Tesla launches second price rise for China-made models within 1 week

Tesla bumped up prices of some versions of the China-made Model 3 and Model Y by 18,000 yuan ($2,830) to 20,000 yuan ($3,145), according to the information updated on March 15 on Tesla China's website. Notably, this was the second-time price increase the U.S. EV manufacturer launched for China-built vehicles within one week.

Ganfeng Lithium scores 405% YoY surge in 2021 net profit

Jiangxi Ganfeng Lithium Co. Ltd. (Ganfeng Lithium), one of the world's top producers of automotive-grade lithium, announced on Monday its annual gross revenue in 2021 surged 102.07% year on year to roughly 11.162 billion yuan ($1.755 billion).