Gasgoo Daily: Hongqi HS3 to hit market on July 17

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.

Hongqi HS3 to hit market on July 17

The Hongqi HS3, a brand-new compact SUV featuring the brand's new design language and a competitive 2,770mm wheelbase, will officially hit the market on July 17. The model is currently available for pre-sales with a starting price of 150,000 yuan.

Photo credit: Hongqi

FAW Jiefang expects net profit to surge by 123%-147% in H1 2023

Chinese commercial vehicle maker FAW Jiefang announced that it expects a substantial year-on-year increase of 123.33%-146.84% in net profit for the first half of 2023, reaching 380 million yuan to 420 million yuan. The company's balanced growth across various segments, particularly medium and heavy-duty trucks, as well as light trucks, has contributed to this impressive result, while overseas exports achieved a historic high.

JD Logistics partners with AutoCore.ai to develop intelligent driving systems

JD Logistics signed a cooperation agreement with AutoCore.ai to jointly develop end-to-end, intelligent driving systems for the logistics industry. The collaboration aims to support the large-scale deployment and normalized operation of intelligent driving systems across various road environments and cost structures.

China’s auto export exceeds 2.1 million units in H1 2023

In the first half of 2023, China’s auto market has overcome several external influences and experienced a significant growth, with a 9.8% year-on-year rise in cumulative sales volume.

BYD completes construction of new energy vehicle parts industrial park in Xi’an city

A ceremony was recently held in Xi'an Hi-tech Industrial Development Zone to celebrate the completion of 69 projects, including the BYD New Energy Vehicle Parts Industrial Park project, according to a post on the "Xi'an High-tech", the official WeChat account operated by local authority.

China’s power batteries installed capacity in H1 2023 leaps 38.1% YoY

In June, China's production volume of power batteries reached a total of 60.1GWh, marking a year-on-year spike of 45.7% and a month-on-month increase of 6.3%, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

Dongfeng Motor Group faces double-digit YoY drop in June auto sales

In June 2023, Dongfeng Motor Group Company Limited (Dongfeng Motor Group) faced a 25.68% year-on-year decline in monthly sales, which stood at 179,119 vehicles.

Geely, Renault to build 50/50 joint venture for R&D, production of advanced powertrains

Following the framework agreement announced in November 2022, Geely Holding Group and Geely Automobile Holdings Limited (hereinafter referred to as "Geely") have signed a binding joint venture agreement with Renault Group in a 50:50 partnership, Geely Holding announced on July 11.

SPACE nabs nominated supply contracts for intelligent parking solutions

SPACE, Shanghai-based intelligent driving solution provider, announced that it has been selected as the designated supplier for two vehicle models of a prominent automaker.

Dongfeng Motor’s VOYAH expands market presence in more European countries

Dongfeng Motor's import and export subsidiary recently conducted meetings with dealers and signed agreements with four dealerships from the Netherlands, Switzerland, Denmark, and Finland regarding its premium new energy vehicle brand, VOYAH.

Biggest-ever ZEEKR Center in China opens for business

On July 8, the largest-ever ZEEKR Center in China officially opened its doors.

BYD, GS Global co-deliver first T4K electric truck to user in South Korea

On July 7, BYD, in collaboration with GS Global, the overseas trading arm of South Korea's GS Group, officially delivered its electric 1-ton-class truck T4K to its first customer in South Korea, marking the entry into the formal delivery phase.