Gasgoo Daily: Power information of BYD’s Yangwang U8 unveiled

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.

Power information of BYD’s Yangwang U8 unveiled

Yangwang, the nascent premium auto brand of BYD, recently disclosed that its first production model, the Yangwang U8 off-road SUV will be powered by a plug-in hybrid electric system and features a CLTC-rated range of 180km when running on battery power alone. The model’s Luxury version is able to zip from 0-100km/h within 3.9 second and 3.6 seconds could be achieved if the “curvature engine” function is working.

Photo credit: BYD

EVE Energy forms strategic cooperation with Hello Tech

On Apr. 27, EVE Energy and Shenzhen Hello Tech Energy co.,Ltd. (“Hello Tech”) signed an agreement to cement strategic cooperation on the upstream and downstream supply chains. Besides, the duo will carry out in-depth cooperation on the energy storage industrial chain.

Photo credit: EVE Energy

BYD Destroyer 05 Champion version hits market

On Apr. 28, the BYD Destroyer 05 Champion version hit the market. With five trim levels offered, it is priced between 101,800 yuan and 148,800 yuan. The model came with two battery-only range options, 55km and 120km.

Photo credit: BYD

BYD scores 79.83% YoY leap in Q1 2023 revenue

BYD Company Limited (“BYD”) announced on Apr. 27 its revenue reached 120.174 billion yuan in the first quarter of 2023, leaping 79.83% from the previous year.

Changan Automobile boasts 53.65% YoY surge in Q1 2023 net profit attributable to shareholders

In the first three months of this year, Chongqing Changan Automobile Co., Ltd.'s revenue came in at 34.556 billion yuan, which remained stable compared to both the previous quarter and the previous year.

Meanwhile, its net profit attributable to the shareholders amounted to 6.97 billion yuan, representing a year-on-year jump of 53.65%. After non-recurring deductions, its net profit attributable to shareholders reached approximately 1.481 billion yuan, which dropped by 34.75% from a year ago.

ZD Automotive closes Series A financing round

ZD Automotive, an automotive R&D solution provider, has successfully completed its hundred-million-yuan-level Series A financing with China Merchants Capital as the lead investor.

GAC-backed Ontime greenlighted for pilot operation of Robotaxi service in Guangzhou

On April 26, Ontime, the mobility service provider backed by GAC Group, was granted a permit to carry out intelligent connected vehicle demonstration operations in Guangzhou.

BAIC Group plans to pour at least 50 billion yuan in R&D over next five years

BAIC Group's Vice General Manager, Gong Yueqiong, recently spoke about the company’s perspective on new energy vehicle market, and revealed that in the next five years, BAIC Group will invest at least 50 billion yuan in R&D of the technologies related to intelligent new energy vehicles.

Schaeffler signs MoU to step up local R&D, investment in Nanjing city

On April 21st, at the headquarters of Schaeffler Group in Herzogenaurach, Germany, Schaeffler signed a memorandum of understanding (“MoU”) with the management committee of Nanjing Jiangning High-tech Development Zone to further strengthen cooperation in production and R&D.