Gasgoo Daily: NIO says not to raise product price anytime soon

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. 

NIO says not to raise product price anytime soon

On March 21st, China’s EV startup NIO said that the company does not plan to raise the price of its new energy vehicle lineups in the short term to maintain its clientele and market share. The company will adjust its operational decisions flexibly in accordance with objective environmental changes.

ET7; photo credit: NIO

Xiaomi’s engineering prototype car likely to be ready in Q3 2022

According to the general manager of Xiaomi’s Beijing & Tianjin subsidiary, Luo Baojun, the engineering prototype of Xiaomi’s first vehicle model will be ready in the third quarter of this year.

CATL admits price increase on multiple battery products

China’s battery mogul, CATL, admitted to the rumored price rise on several battery products. Previously, there were rumors about CATL raising its product price twice.

AITO’s second SUV model said to be named M7

The second SUV model of AITO, the jointly owned auto brand of HUAWEI and SERES, is reportedly named the AITO M7, in relation to the current M5 model.

Farasis Energy completes differential price rise with most clients

China’s leading energy player, Farasis Energy, disclosed on March 21st that the company had finished price negotiation with most of its clients regarding the company’s 2022 product prices, with agreed price increments of various degrees. Its negotiation with Daimler AG is still in progress.

Volkswagen China to set up joint ventures with Huayou Cobalt, Tsingshan Holding Group

On March 21st, Volkswagen Group China inked two memorandums of understanding with China’s Huayou Cobalt and Tsingshan Holding Group, respectively, to strengthen the auto group’s competitiveness in the electric mobility field.

Beijing Hyundai secures $942.2 million capital increase from two parent firms

BAIC Investment and Hyundai Motor have entered into an agreement to jointly inject capital of around $942.2 million in their joint venture Beijing Hyundai, according to an announcement issued on March 18 by BAIC Motor, the parent of BAIC Investment.

Leapmotor, XPeng, WM Motor, Geely’s Geometry lift price on NEVs

Several Chinese EV startups all announced price rises on their models, including Leapmotor, WM Motor, XPeng, and Geely’s sub-brand, Geometry, during March 18th-19th.

SAIC Motor’s NEV brand Rising Auto says R7’s first PPV prototype comes off line

Rising Auto, a new energy vehicle (NEV) brand of SAIC Motor, saw the first PPV (production process validation) prototype of the R7, the first flagship model of the brand after its independent operation, roll off the production line at SAIC Motor's plant in Lin-gang Special Area on March 21, according to a post on Rising Auto's WeChat account.

BENTERLER intends to build joint venture in China for car body, chassis-related parts

German automotive parts group BENTELER International AG (“BENTELER”) plans to build a joint venture in China with Lucky Harvest, a Chinese supplier of precision stamping dies and metal structural parts, according to the latter's announcement issued on March 18.