Gasgoo Daily: Saudi Arabia, Human Horizons sign $5.6 billion agreement to build automotive joint venture

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.

Saudi Arabia, Human Horizons sign $5.6 billion agreement to build automotive joint venture

The Ministry of Investment of Saudi Arabia (MISA) announced it has signed an agreement with China's new energy vehicle company Human Horizons, to form a joint venture dedicated to automotive R&D, manufacturing, and sales. The deal, valued at 21 billion Saudi riyals (roughly USD$5.6 billion), aims to bolster the domestic electric vehicle manufacturing industry as a key objective of Saudi Arabia's plans. 

Delivery of ZEEKR X kicks off

Delivery of ZEEKR’s all-new SUV model, the ZEEKR X, was officially kicked off today in 25 Chinese cities simultaneously. According to the company, it only took ZEEKR 60 days to commence delivery since the ZEEKR X hit the market.  

Photo credit: ZEEKR

Geely Galaxy L7 to be delivered to users tomorrow

Delivery of Geely’s Galaxy L7 model will commence on June 13, according to a post on Geely Galaxy’s official WeChat account. The first batch vehicles will be delivered at the same time in eight cities, including Hangzhou, Wuhan, Changsha, Xi’an, Tianjin, Shenzhen, Dongguan, and Nanning.  

Sunwoda’s sodium-ion battery scheduled for volume production in Q3 2024

Sunwoda, a Chinese leading player in the field of electric vehicle batteries, will put its sodium-ion batteries into mass production in the third quarter of 2024, according to Mr. Wang Mingwang, the founder of Sunwoda Electronic Co., Ltd., during the 2023 World Power Battery Conference on June 9.

China's sodium ion battery solutions supplier Paragonage closes angel round

Shenzhen Paragonage New Energy Co., Ltd. (hereafter referred to as "Paragonage"), a Chinese supplier of sodium ion battery solutions, recently completed an angel round of financing that secured several tens of millions of yuan.

China’s power batteries installed capacity in May 2023 surges 52.1% YoY

In May, the total production volume of power batteries in China reached 56.6 GWh, marking a year-on-year increase of 57.4% and a month-on-month rise of 20.4%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Huawei Richard Yu: China's L3 autonomous driving standards to be finalized by end of June

Richard Chengdong Yu, Huawei's Executive Director and CEO of Huawei Technologies Consumer Business Group, as well as CEO of Huawei’s Intelligent Automotive Solution Business Unit, announced at AVATR Technology’s press conference during the 2023 Chongqing Auto Show that China's Level 3 autonomous driving standards are expected to be finalized by the end of June.

JAC Group's May auto export soars 89.86% YoY

In May 2023, major Chinese automaker JAC Group boasted a double-digit surge in both monthly sales and export volumes.

NIO reduces prices across entire product lineup

On June 12, Chinese electric vehicle (EV) manufacturer, NIO, announced a price adjustment for its entire range of new cars, as well as a modification to the benefits package for first-time car owners.

NETA Auto announces foray into Jordanian EV market

NETA Auto, a Chinese new energy vehicle (NEV) player under HOZON Auto, continues to expand its global footprint. On June 8, the carmaker officially made its debut in Jordan, launching and delivering its NETA U and NETA V models in the country.