Gasgoo Daily: Hyundai’s HTWO Guangzhou hydrogen fuel cell battery base to start production in H2 2022

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.

Hyundai’s HTWO Guangzhou hydrogen fuel cell battery base to start production in H2 2022

Hyundai Motor Group announced that its first hydrogen fuel cell battery manufacturing and sales base outside Korea, namely, HTWO Guangzhou, will be fully constructed and put into production in the second half of 2022. The base has a designed annual production capacity of 6,500 sets of hydrogen fuel cell battery systems.

Photo credit: Hyundai Motor Group

BYD sets up insurance company

On March 25, BYD Insurance Agent Co., Ltd. was established, with a registered capital of RMB50 million. The company is wholly-owned by BYD Auto Industry Co., Ltd., according to China’s corporate database, Qichacha.

FF’s Jia Yueting becomes subjected to execution on another charge

Jia Yueting and its Letv Holdings (Beijing) Co., Ltd. are subjected to court execution for a new financial dispute of RMB1.68 million, resulting in a total of RMB5.2 billion of execution amount for the founder of the Nasdaq-listed EV company, Faraday Future.

Li Auto invests in semiconductor company

Li Auto has recently become a shareholder to Suzhou Sike Semiconductor Co., Ltd. indirectly. The latter has a registered capital of RMB300 million.

SAIC Motor, Tsingshan Group team up on power battery project in Liuzhou

China's Liuzhou Saike Technology Development Co., Ltd. (“Liuzhou Saike”) and Ruipu Energy Co., Ltd. (“REPT”) on March 24 signed cooperation and investment agreements with local authorities of Liudong New District, Liuzhou to build a power battery and battery system industrial base, according to a post on REPT's WeChat account.

Li Auto cooperates with HONOR for smartphone-controlled onboard functions

China’s up-rising auto startup Li Auto has formed a cooperation with local cellphone maker, HONOR, on March 25th.

China opens up 5,000 km roads for intelligent V2X tests

China has opened up over 5,000 kilometers of roads for intelligent V2X pilot demonstration, a deputy director of the Ministry of Industry and Information Technology (MIIT), Guo Shougang, said on the China EV100 Forum 2022 on March 25th.

NIO, Xiaomi EV rumored to adopt BYD’s batteries

Fudi Battery, the power battery unit of BYD, is vigorously expanding its carmaker client base, which has reportedly attracted NIO and Xiaomi EV.

Baidu Apollo to start Robotaxi service in Wuzhen, Zhejiang

The autonomous driving arm of Baidu, Apollo, announced that on March 26th,  its Robotaxi “Apollo Go” service will land in the scenery site of Wuzhen, an ancient water town in Zhejiang province.

NIO not to raise car prices temporarily, aims to be profitable in 2024

Currently, NIO does not have any plans to raise its car prices yet, even though it is also under the pressure of raw materials cost increase, William Bin Li, founder, chairman and CEO of NIO, said at a quarterly earnings call on March 25.

JAC Group scores 40% jump in net profit in 2021

In 2021, local automaker JAC Group managed a 40% jump in net profit, compared to the previous year, according to its 2021 annual financial report released on March 25th.