Gasgoo Daily: Severe overcapacity exists in current power battery production: Changan Automobile’s chairman
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.
Severe overcapacity exists in current power battery production: Changan Automobile’s chairman
On June 8, at the China Auto Chongqing Summit 2023, Zhu Huarong, Chairman of Changan Automobile, stated in a speech that the auto industry's assembly and parts divisions are in an unstable state, with business boundaries undergoing restructuring and showing a trend of interpenetration. Zhu Huarong predicts that by 2025, China's demand for power battery capacity will be 1,000-1,200GWh, yet the industry's planned capacity has already reached 4,800GWh. He pointed out that the current capacity is severely excessive, and the industry must return to a rational state.
Photo credit: Changan Auto
Presale of BYD Song PLUS Champion edition begins, starting at 169,800 yuan
BYD Song PLUS Champion edition officially began its pre-sale on June 8, launching two types regarding power solutions, DM-i and EV. The DM-i version has a pre-sale price range of 169,800 to 199,800 Yuan, and the EV version ranges from 179,800 to 219,800 Yuan.
Photo credit: BYD
BAIC Group signs strategic cooperation agreement with Beijing Tourism Group
On June 8, BAIC Group and Beijing Tourism Group (BTG) signed a strategic cooperation agreement under which both parties will fully leverage their respective resource advantages, with travel, logistics services, business travel services, and other major areas of cooperation as gateways. They will organically combine BAIC Group's comprehensive automobile manufacturing and travel industry chain with BTG's lifestyle services, forming a new mechanism for mutual complementation and interconnected cooperation between municipal state-owned enterprises.
China’s locally-produced passenger vehicle retail sales jump 28.6% in May 2023
China's passenger vehicle (PV) retail sales amounted to 1.742 million units in May 2023, jumping 28.6% from the previous year, while also rising 7.3% from the previous month, according to the China Passenger Car Association (CPCA).
Tesla China sees 141.55% YoY soar in May wholesale volume
In the fifth month of 2023, Tesla sold 77,695 China-made vehicles via wholesale, representing a 2.44% rise over a month ago and a staggering 141.55% soar over the previous year, according to the China Passenger Car Association (CPCA).
SAIC Motor’s monthly sales in May rise 10.23% YoY
In May, SAIC Motor sold 400,799 new vehicles, representing a 10.23% growth year-on-year.
On June 8, four Chinese autonomous driving companies, namely, UTOPILOT, TuSimple, SAIC AI Lab, and Pegasus, were awarded China's first batch of national autonomous driving test licenses for 15 vehicles in Shanghai’s Lin-Gang Special Area.
Gree Group’s investment subsidiary invests in battery maker EXENCELL
Zhuhai Gree Financial Investment Management Co., Ltd. (“Gree Finance Investment”), an investment firm wholly-owned by Gree Group, recently completed a strategic investment in the Chinese battery maker Shenzhen Exencell New Energy Technology Co., Ltd. ("EXENCELL"), according to a post on EXENCELL's WeChat account.
Chongqing city's municipal Finance Bureau and Commission of Economy and Information Technology recently co-released a new set of financial subsidy policies for the year 2023 concerning the development of charging and battery-swapping infrastructures (referred to henceforth as "the notice").
Changan Automobile boasts 32.49% YoY surge in May auto sales
In May 2023, Chinese automaker Chongqing Changan Automobile Co., Ltd. (Changan Automobile) recorded a 32.49% surge in monthly sales compared to a year ago.
BYD's personalized 'F' brand likely to be named 'Fang Cheng Bao'
On June 8th, during the intense 2023 Gaokao period, BYD once again unveiled a teaser for its F brand. The intriguing "F brand Gaokao comprehensive paper" hinted at a key clue: "FCB".
In the mathematics paper launched on June 7, BYD disclosed a crucial information, "6.9", which when combined with the official Weibo account of "Fang Cheng Bao (translated as ‘Equation Leopard’or 'Formula Leopard') Auto” that went live on June 6, suggests that the F brand is most likely to be named "Fang Cheng Bao" and could be officially announced on June 9th.
Autonomous driving firm TuSimple announces foray into Japanese market
TuSimple, a global autonomous driving technology company, officially announced its entry into the Japanese market on June 6, commencing autonomous driving tests on the Tomei Expressway in Japan.
Haomo.ai hits 500-million-km milestone in user-assisted driving distance
On June 6, Haomo.ai, the autonomous driving solution developer backed by Great Wall Motor, achieved a significant milestone as its user-assisted driving distance surpassed 50 million kilometers, further validating Haomo.ai's data closed-loop capability.
GAC Group scores 2-digit YoY growth in May 2023 auto production, sales volumes
In May 2023, GAC Group achieved positive growth in both auto production volume and sales. The group produced 224,413 vehicles and sold 209,606 vehicles in the month, representing year-on-year increases of 16.61% and 14.5%, respectively.
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