Gasgoo Daily: China's authorities release policies to shore up car consumption

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.

China's authorities release policies to shore up car consumption

On July 7, 17 Chinese governmental departments including the Ministry of Commerce released a document saying China will support new energy vehicle (“NEV”) consumption, conduct a study on whether to continue the preferential tax policy for NEV purchase, and encourage local governments to issue policies on boosting NEV consumption in rural areas.

JAC Group posts 4.86% YoY growth in June 2022

JAC Group announced today its June sales reached 43,108 units, rising 4.86% year on year. Notably, its sales of all-electric passenger vehicles amounted to 18,126 units last month, leaping 55.55% from a year ago.

BYD Seal arrives at dealerships

The BYD Seal, a new model from BYD's Ocean series, has arrived at dealerships' showrooms. The model is now available for presale.

SAIC Motor scores two-digit MoM, YoY growth in June 2022 sales

SAIC Motor announced today its monthly auto sales reached 483,584 units in June 2022, jumping 33% month on month, while also leaping 47.16% year on year.

Geely Auto scores 26% YoY jump in June sales

In June, China's major automaker, Geely Automobile Holdings Limited (Geely Auto), achieved growing momentum in its monthly sales volume over the previous month and year.

HUAWEI executive director calls for oil-fueled vehicle elimination

The CEO of HUAWEI’s Intelligent Automotive Solution Business Unit, Yu Chengdong, commented that oil-fueled vehicles should be eliminated as soon as possible, at the 14th China Auto Bluebook Forum on July 7th.

Chinese chip supplier Flagchip announces completion of two funding rounds

Suzhou Flagchip Semiconductor Co., Ltd. ("Flagchip"), a Chinese automotive chip supplier, announced today it had closed its Series B financing and a new strategic funding round.

Chery Holding's export volume reach record high in June

In the sixth month of 2022, Chery Holding saw its sales volume surge from a month and a year ago, with its export volume hitting a record high.

Co-founder of TuSimple resigns to start truck-making company

The co-founder and former vice president of engineering from TuSimple, Huang Zehua, has resigned from the autonomous driving firm to start his own truck company in October 2021, according to a local media outlet.

Evergrande Auto starts preorders for Hengchi 5 SUV

Evergrande Auto, the electric vehicle (EV) unit of Chinese property giant Evergrande Group, officially began presale of its first production model, the Hengchi 5, on July 6.

Shenzhen sets official regulation for autonomous driving vehicles

Shenzhen has passed an administration regulation for intelligent connected vehicles in the city, marking the first of its kind in China. The regulation will be enforced from August 1st.

China to date has over 10 million NEVs running on roads

As of June 2022, there had been 10.01 million NEVs running on roads in China, including 8.104 million all-electric vehicles, according to China's Ministry of Public Security (MPS).