Gasgoo Daily: Chengdu issues 100-million-yuan scale new energy PV purchase incentive

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.

Chengdu issues 100-million-yuan scale new energy PV purchase incentive

Chengdu, the capital of Sichuan Province, issued an incentive on a 100-million-yuan scale for purchasing new energy passenger vehicles (PVs). From May 20 to July 20, 2023, private consumers who purchase a new energy PV under participating brands for personal use will be awarded with 8,000 yuan per person.

SGMW unveils photo of new compact SUV 

SAIC-GM-Wuling officially released images of a new Wuling-branded SUV model, which is named Wuling Xingyun ("Star" in English). Positioned as a compact five-seater SUV, the Xingyun features a new design language that emphasizes on electrification. The new model is scheduled for market launch in the second half of this year.

Photo credit: SGMW

All-new Geely Binyue hits market

On May 18, the all-new Binyue sedan of Geely Auto officially hit the market. Coming with three trim levels, the facelifted Binyue is priced between 75,800 yuan and 95,800 yuan. Different from the prior version, the new Binyue offers a 1.5T four-cylinder engine.

Geely Holding announces stake increase in Aston Martin

On May 18, Geely Holding Group announced that it has further strengthened its partnership with British luxury performance carmaker Aston Martin Lagonda Global Holdings (referred to as "Aston Martin"). As part of the collaboration, Geely Holding has completed an increase in its shareholding in Aston Martin, now owning approximately 17% of the latter's shares.

China’s skateboard chassis company U POWER closes Series B financing

U POWER, a leading Chinese skateboard chassis developer, announced the completion of its Series B funding round which raised for the company hundreds of millions of yuan.

BMW Group to produce next-gen BEVs in China from 2026

On May 18, the day where BMW Group celebrated the 20th anniversary of BMW Brilliance’s foundation, the German luxury carmaker announced that it will produce its next-gen full electric vehicles—dubbed ‘Neue Klasse’—in Shenyang city, capital of China's Liaoning province, from 2026 onwards.

NIO, Autoliv step up cooperation to shape new mobility mode

Chinese new energy vehicle startup NIO and the global vehicle safety systems supplier Autoliv signed a strategic cooperation agreement on May 17 to jointly shape a new mobility mode, according to a post on Autoliv’s WeChat account.

DHL deploys four electric trucks in Shanghai for logistics transportation

DHL Global Forwarding, the freight specialist division of Deutsche Post DHL Group (DPDHL), has deployed two new electric trucks and two new electric container tractors in Shanghai to expand its green fleet. 

Baolong Automotive's joint venture puts ADAS-used corner radar into production

Baolong Automotive, the Chinese auto parts supplier, announced on May 17 that its joint venture company, Baohang Technology, has successfully entered the production phase after over a year of development since securing the contract for VinFast's corner radar project in Vietnam in 2022. 

Haima Automobile sees prototype of 7X-H FCV equipped with Toyota’s fuel cell stack roll off line

On May 17, Chinese automaker Haima Automobile saw the first functional prototype of the 7X-H FCV (fuel cell vehicle), which is equipped with Toyota Motor’s fuel cell stack system, roll off the production line at the manufacturing base of its subsidiary, Hainan Haima Automobile Co., Ltd., according to an announcement from Haima Automobile.

BYD-backed DENZA demonstrates iADC intelligent drifting control system

DENZA, the premium auto brand majority-owned by BYD, earlier this week released a drifting video of the DENZA N7 SUV as the approach where the iADC (intelligent Adaptive Drift Control) system made its world’s debut.