Gasgoo Daily: Changan Automobile to build car plant in Thailand

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.

Changan Automobile to build car manufacturing plant in Thailand

On October 17, at the Belt and Road CEO Conference, Changan Automobile signed an agreement with the Thailand Board of Investment to invest 8.8 billion Thai Baht (approximately 1.77 billion Chinese yuan) in the construction of a new energy vehicle manufacturing plant in Thailand. The first phase of this project is expected to have a production capacity of up to 100,000 vehicles.

Photo credit: Changan Auto

NETA Auto to establish R&D center, assembly plant in Abu Dhabi, UAE

NETA Auto, the new energy vehicle maker under Zhejiang Hozon New Energy Automobile Co., Ltd., will establish an R&D center and assembly plant in the Smart and Autonomous Vehicle Industry (SAVI) complex in Abu Dhabi, UAE, according to the media outlet China Daily. This initiative is spearheaded by the Abu Dhabi Department for Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO).

BYD introduces BYD SEAL model to Australian market

BYD's all-electric sedan, the BYD SEAL, has already entered the Australian market with a starting price of 49,888 Australian dollars.

DeepWay delivers 100 smart new energy heavy-duty trucks to Yuanchi New Energy

On October 17, DeepWay, the new energy smart truck maker backed by Baidu, delivered the first batch of 100 smart new energy heavy-duty trucks, the DeepWay Shenxiang Xingchen (Chinese pinyin), to Yuanchi New Energy (Shanxi) Co., Ltd.

BAIC BJEV to install CATL's Shenxing batteries onto ARCFOX's vehicles

BAIC BJEV, a new energy vehicle unit under BAIC Group, in collaboration with the Chinese power battery giant and one of its major battery suppliers, CATL, hosted an event on Tuesday to announce the application of CATL's Shenxing battery into its vehicle models.

Flagchip, iSoft Infrastructure Software to co-develop automotive MCU software solutions

Flagchip, a Chinese automotive chip supplier, and iSoft Infrastructure Software, a subsidiary of China Electronics Technology Group Corp (CETC), recently announced a strategic partnership aimed at jointly developing comprehensive software solutions for automotive-grade MCUs.

Dongfeng Nissan Venucia forays into Kenyan new energy vehicle market

On October 17, the Kenyan Investment Authority and Dongfeng Nissan's Venucia brand officially signed the "Intention Agreement for Cooperation in Promoting the Sale of New Energy Vehicles in Kenya" in Beijing.

NavInfo undergoes major shareholder transition

On October 17, China's automotive intelligence solution developer NavInfo made an important announcement that the company received a "Share Transfer Registration Confirmation" issued by China Securities Depository and Clearing Corporation Limited and handed over by China Siwei Surveying and Mapping Technology Co., ltd. (referred to as "China Siwei").

Li Auto unveils images of Li MEGA all-electric MPV

Li Auto today released the official images of its first all-electric MPV, the Li MEGA, providing a comprehensive look at the vehicle's exterior design from multiple angles. This model is set to be launched officially in December this year, available for purchase starting January next year, and deliveries are expected to commence in February 2024, with an estimated price tag of over 500,000 yuan.

XCMG rolls off first power battery pack using BYD's cells

On October 17, Xuzhou Construction Machinery Group ("XCMG"), a Chinese multinational state-owned heavy machinery manufacturing company, saw its first-ever power battery pack roll off the production line managed by XCMG's wholly-owned subsidiary, XCMG New Energy Power Technology Co., Ltd. ("XCMG Power").

JAC Group sets up wholly-owned subsidiary in Malaysia

Chinese legacy automaker JAC Group recently established a wholly-owned subsidiary in Selangor, Malaysia, adding a new member to its international team. Notably, this marks JAC's sixth investment project and the fourth wholly-owned subsidiary overseas.

BASF inks technology agreement with NZRCC for INA production in China's Ningbo city

BASF recently signed a technology license agreement with Sinopec Ningbo Zhenhai Refining & Chemical Company ("NZRCC"), a joint venture between Sinopec Zhenhai Refining & Chemical Company and Ningbo city's authorities, to utilize BASF's proprietary carbonylation technology for the production of isooctanol (INA), according to a post on BASF's WeChat account.

BYD forecasts 67%-101.99% YoY spike in Q3 net profit

For the third quarter, BYD anticipates a net profit attributable to shareholders in the range of 9.546 billion to 11.546 billion yuan, marking an impressive soar of 67% to 101.99% compared to the same period last year. The projected net profit, excluding non-recurring gains and losses, is expected to range from 8.605 billion to 10.505 billion yuan, with a year-on-year surge of 61.29% to 96.90%. The basic earnings per share are expected to fall within the range of 3.29 to 3.97 yuan, versus the 1.97 yuan in the same period last year.