Gasgoo Daily: Gotion High-Tech’s GDRs to trade on SIX Swiss Exchange on July 28

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.

Gotion High-Tech's GDRs to trade on SIX Swiss Exchange on July 28

Chinese battery maker Gotion High-Tech is to raise $685 million after pricing its Global Depositary Receipts ("GDR") in Switzerland. It will sell 22.8334 million GDRs at $30 each. According to the company's announcement released today, the GDRs will trade on the SIX Swiss Exchange AG on July 28, 2022.

Photo credit: Gotion High-Tech

Jiangling Motors posts 11.64% YoY growth in H1 2022 net profit

Jiangling Motors Co., Ltd. announced on Tuesday that its net profit attributable to shareholders reached 452,381,022 yuan ($66.913 million) in the first half of 2022, growing 11.64% from the previous year.

Highly Marellis' Xiangyang factory sees first premium-EV-dedicated air conditioner leave line

The joint venture Highly Marelli today said the first premium-EV-dedicated air conditioner produced by its Xiangyang factory had already rolled off the production line.

WEY Latte DHT-PHEV hits market

The WEY-branded Latte DHT-PHEV hits the market on July 25. It is priced from 229,000 yuan-263,000 yuan ($33,870-$38,900).

Haima Automobile's R&D of 4th-generation FCV model is underway

Haima Automobile is developing its fourth-generation fuel cell vehicle (“FCV”) model, the Chinese automaker recently revealed on a Q/A platform as a response to an investor's question.

SGMW to put first mobile nucleic acid sampling vehicles onto market in August

SAIC-GM-Wuling (“SGMW”), General Motors' joint venture with Chinese partners SAIC Motor and Guangxi Automobile Group, announced on July 26 its first mobile nucleic acid sampling vehicles would be put into use in August in Shanghai, aiming to further facilitate the epidemic prevention and control works.

GAC Group, SenseTime to ally on intelligent driving, metaverse, smart cockpit

GAC Group announced on July 26 it had already signed a framework agreement with SenseTime, a Chinese AI platform company, to carry out strategic cooperation in a slew of fields including intelligent driving and metaverse.

Tesla Shanghai Gigafactory said to complete retrofit project on Aug. 7th

Tesla's Shanghai Gigafactory retrofit project will be completed on August 7th, a local media outlet reported.

Dongfeng Motor, CEC to cooperate on auto chip, cybersecurity, auto electronics areas

Dongfeng Motor Corporation (DFMC) and China Electronics Corporation (CEC) recently inked a framework agreement to carry out strategic cooperation in the automotive chip, network security, digitalization, and automotive electronics fields.

Changan Automobile SL03 hits market, starting from RMB168,900

Changan Automobile's first production model under the newly formed Shenlan brand, the SL03, officially went on sale on July 25th.

Brembo to build a friction tech joint venture with China's Gold Phoenix

Brembo, the Italy-based global manufacturer of automotive brake systems, intends to build a joint venture with Chinese auto parts supplier Shandong Gold Phoenix Co., Ltd. (“Gold Phoenix”) in Jinan city, capital of Shandong province, according to the latter's announcement released on July 26.