Gasgoo Daily: XPeng to pour over 6 billion yuan per year in R&D over next five years

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.

XPeng to pour over 6 billion yuan per year in R&D over next five years

Chinese electric vehicle startup XPeng plans to pour over 6 billion yuan per year in R&D businesses over the next five years, He Xiaopeng, the company's chairman and CEO, said at a governmental conference on Jan. 28.

XPeng P7; photo credit: XPeng

CATL applies for registration of trademark 'Theory of Relativity’

According to the corporate information inquiry platform Tianyancha, CATL recently filed for the registration of a trademark named "Theory of Relativity" ("Xiangduilun" in Chinese Pinyin), which is under the international classification of advertisement sales. The trademark application is still pending.

Lithitech becomes CATL's wholly-owned subsidiary

Jiangsu Lithitech Co., Ltd. ("Lithitech"), a Chinese developer and provider of lithium-ion battery materials and related products, recently experienced a major change with the original shareholders all withdrawing from the company, while CATL joining to become the sole shareholder, according to Tianyancha.

Shanghai extends subsidies to bolster automobile consumption

According to a document issued by the Shanghai municipal government on Jan. 29, individual consumers, who scrap or transfer the passenger cars registered in Shanghai accordance with relevant standards and buy new energy vehicles as replacement before Jun. 30, 2023, will be granted a subsidy of 10,000 yuan ($1,470) per car.

VOYAH introduces new shareholders including Ganfeng Lithium

Dongfeng Motor's premium new energy vehicle brand VOYAH saw its registered capital raised to 3.085 billion yuan from the original 2.61 billion yuan, according to Chinese corporate database Tianyancha.

XPeng plans to roll out five all-new, refreshed models in 2023

XPeng plans to put two all-new models and three refreshed models onto the market in 2023, according to an internal letter XPeng's chairman and CEO He Xiaopeng yesterday issued to staff members.

BYD Seagull BEV model said to hit market in Q2 2023

BYD is going to put the BYD Seagull, a fire new small-sized full-electric car of BYD's Ocean Series, onto the market in the second quarter of this year, according to a Chinese local media outlet.

OTS body of Hongqi's electric vehicle model 'E001' rolls off line

FAW Group's signature wholly-owned passenger vehicle brand, Hongqi, saw the OTS car body under the brand’s E001 model project roll off the production line on January 23.