Gasgoo Daily: Audi FAW NEV Company site commences construction in Jilin Province

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.

Audi FAW NEV Company site commences construction in Jilin Province

The Audi FAW New Energy Vehicle (NEV) project, along with the Audi PPE supporting project, began construction in Changchun, Jilin Province on June 30, with a total investment exceeding 44.4 billion yuan. Once completed, the project will significantly boost the development of Jilin Province's automotive industry cluster and provide solid support for the local new energy vehicle industry.

Photo credit: Audi

I·T BOX receives investments from Haima Automobile

I·T BOX, a Chinese ride-share electric vehicle startup, recently underwent changes in its business registration, with Haima Automobile, Henan Zhongyu New Energy Vehicle Industry Fund (Limited Partnership), and Henan Intelligent Connected New Energy Vehicle Development Co., Ltd. joining as investors. The registered capital of the company increased by approximately 125% from around 225 million yuan to approximately 506 million yuan.

Mercedes-Benz recalls 2,518 imported G-Class vehicles in China

Mercedes-Benz China has submitted a recall plan to China’s State Administration for Market Regulation. Starting from January 10, 2024, a total of 2,518 imported G-Class vehicles manufactured between June 1, 2018, and December 20, 2019, will be recalled. The recall is due to the non-compliance of the catalytic converter monitoring section in the engine control unit software, which fails to promptly detect excessive aging of the catalytic converter. Additionally, the malfunction indicator lamp (illuminated after two driving cycles) does not activate as expected, posing emission hazards.

Li Auto ambitious to hit annual deliveries of 1.6 million vehicles

June 30, 2023 marks the 8th anniversary of Li Auto, during which its CEO, Li Xiang, released a letter to all employees. He declared that the upcoming three years, from 2023 to 2025, will be the most critical phase in Li Auto's evolution, taking the company from stage 1 to stage 10.

China's vehicle inventory alert index in June 2023 grows YoY, but edges down MoM

China's vehicle inventory alert index (VIA), which reflects the inventory pressure on automobile dealers, dropped 1.4 percentage points month on month in June 2023, according to the China Automobile Dealers Association (CADA).

Lear launches expansion project for auto system production facility in China’s Shenyang city

On June 26, Lear China announced a major expansion of its Shenyang Lear Automotive Systems Co., Ltd. (hereafter referred to as "Shenyang Lear") facility, signifying a new phase in the company's growth.

Geely’s Lynk & Co announces foray into Macau market

Lynk & Co, one of the auto brands under Geely Auto Group, recently announced that it officially entered the market of Macau, China. This milestone was achieved by signing a dealership cooperation agreement with one of the largest car dealerships in Macau, Vang Iek Group, on June 29.

Geely’s Aerofugia bags over 100 million yuan in first market-oriented financing round

Aerofugia, a leading Chinese electric aviation company under Geely, has successfully completed its first market-oriented financing round, raising over 100 million yuan, the company said on June 30 via its WeChat account.

Enjoy Move nabs nearly 100 million yuan in Series B2 funding

On June 30, Shanghai-based automotive intelligence solution provider Enjoy Move announced the completion of a nearly 100-million-yuan Series B2 funding round.

Black Sesame Technologies files for IPO in Hong Kong

Black Sesame International Holding Limited, the corporate entity of Chinese automotive chip maker Black Sesame Technologies, has submitted its application for an initial public offering (IPO) to the Hong Kong Stock Exchange, as disclosed on June 30.

RoboSense leads establishment of China's first automotive MEMS standardization working group

RoboSense, a leading Chinese LiDAR solution provider, took the initiative to establish China’s first automotive MEMS standardization working group under the National Microelectromechanical Technology Standardization Technical Committee (SAC/TC 336).

Great Wall Motor’s Jingmen branch said to expand product lineup with three new models

According to report posted on www.jmnews.com on June 29, a responsible person from Great Wall Motor (GWM)'s Jingmen branch revealed that the company is currently conducting trial production of three new models: the Tank 400, Haval H5, and WEY High Mountain (“Gaoshan” in Chinese). These models are about to enter mass production.

Schaeffler Group, Baosteel team up on sustainable development in green steel

On June 29, Schaeffler Group and Baosteel signed a strategic agreement on sustainable development in green steel, according to a post on the German auto supplier's WeChat account.