Gasgoo Daily: DiDi sees Q3 2023 revenue jump 25% YoY

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.

DiDi sees Q3 2023 revenue jump 25% YoY

In the third quarter of this year, Chinese ride hailing giant Didi Chuxing reported a total revenue of 51.4 billion yuan, marking a 25% year-over-year (YoY) increase, according to its public announcement. Notably, its China mobility business contributed 46.6 billion yuan, demonstrating a 27% YoY growth, while international operations generated 2 billion yuan, representing a 28% YoY increase.

Photo credit: DiDi

Great Wall Motor announces successful deployment of self-developed IGBT power modules

Great Wall Motor announced on November 14 via its Weibo account the successful deployment of its in-house developed IGBT (Insulated Gate Bipolar Transistor) power modules, a breakthrough achievement realized in the assembly of the Haval Xiaolong MAX model.

XPeng initiates acquisition of DiDi's intelligent automotive development assets

In a recent announcement on the Hong Kong Stock Exchange, XPeng disclosed that the initial transaction for its acquisition of DiDi's intelligent automotive development assets took place on November 13, 2023.

CVA Chip bags over 200 million yuan in B+ financing round

Shenzhen-based chip supplier CVA Chip recently concluded a B+ funding round, securing over 200 million yuan.

Tesla lifts prices of Model 3/ Model Y Rear-Wheel Drive versions in China

Tesla issued an immediate price adjustment starting November 14 for the Model 3/Model Y Rear-Wheel Drive versions in the Chinese market via its official Weibo account.

Hesai Technology becomes nominated LiDAR supplier for multiple GWM models

On November 14, Chinese LiDAR solution developer Hesai Technology announced a strategic partnership with Great Wall Motor (GWM) for the integration of Hesai's long-range LiDAR, the AT128, into various models under GWM. 

Hesai Technology boasts 33.5% YoY surge in Q3 revenue

On November 14, Chinese LiDAR maker Hesai Technology disclosed its unaudited financial results for the third quarter (Q3) of 2023, showcasing outstanding performance across revenue, delivery volumes, and gross margins.

GWM, Douyin Group ally on big data, digital marketing, large model applications

Great Wall Motor ("GWM") and Douyin Group, a subsidiary of ByteDance, inked a strategic cooperation agreement in Beijing on November 13. This strategic alliance encompasses nine major areas, ranging from big data and enterprise-used large model applications to cloud infrastructure, digital marketing, and the intelligent integration of features such as smart cabins and intelligent driving. 

Lynk & Co hits production milestone of 1 million vehicles

On November 14, as a Lynk & Co 08 EM-P smoothly descended from the production line at the Yuyao factory, it marked a significant milestone for the Lynk & Co brand — the production of its one millionth vehicle.

Geely Holding Group scores 19% YoY jump in Oct. 2023 sales

Zhejiang Geely Holding Group ("Geely Holding") announced on Monday that its monthly auto sales reached roughly 277,800 units in October 2023, marking a 19% year-on-year jump. The group also reported a sales volume of 106,700 new energy vehicles (NEVs, including battery electric vehicles and plug-in hybrid electric vehicles) for the same month, representing a 65% year-on-year spike and a monthly penetration rate of 38%.

Dongfeng Motor, Nissan Motor to jointly develop new energy vehicles under new cooperation strategy

On November 11, Dongfeng Motor Co., Ltd. (DFL) held a new strategy release event in Wuhan, Hubei Province, marking a transformative moment in its 20-year journey.

Advanced SPAD dToF sensors supplier DaoSensing closes Pre-A++ funding

Shanghai-based semiconductor design firm DaoSensing recently closed its Pre-A++ funding round, which raised for the company tens of millions of yuan.