Gasgoo Daily: Li Auto’s boasts 36.4% YoY jump in Q1 2024 revenue

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.

Li Auto's boasts 36.4% YoY jump in Q1 2024 revenue

On May 20, 2024, Li Auto announced its financial results for the first quarter of 2024. Its first-quarter revenue reached 25.6 billion yuan, up 36.4% year-on-year and hitting an all-time high level for the same period. Besides, Li Auto continued to improve operational efficiency, reporting an adjusted net profit of 1.3 billion yuan (excluding stock-based compensation expenses), with a gross margin of 20.6%.

Photo credit: Li Auto

ZEEKR hits delivery milestone of 250,000 vehicles

On May 20, ZEEKR announced that, after 31 months, its cumulative car deliveries have surpassed 250,000 units.

NIO's 800th expressway battery swap station in China goes online

On May 20, NIO's 800th expressway battery swap station in China officially went online at the Kaihua Service Area on the G3 Beijing-Taibei Expressway. NIO has now established a total of 2,420 battery swap stations and 22,500 charging piles nationwide.

BAIC Motor launches BJ40 PLUS, X55 models in Indonesia, Malaysia

During May 14 to 16, BAIC Motor officially put the BJ40 PLUS and X55 models onto the markets of Indonesia and Malaysia, marking a new chapter in the BAIC brand's global development.

Volvo Cars' EX30 all-electric SUV hits Chinese market, starting at 200,800 yuan

On May 19, Volvo Cars officially announced the pricing for its new small-sized all-electric SUV, the EX30. The new model comes in four versions, with prices ranging from 200,800 yuan to 255,800 yuan.

NIO's Power Swap on Pilot service already offered in 243 expressway service areas

As of May 20, 243 expressway service areas in China have offered NIO's PSP (Power Swap on Pilot) service, NIO announced via its official Weibo account.

Leapmotor launches new energy vehicle key components project in Huzhou, Zhejiang

On May 17, Chinese new energy vehicle (NEV) maker Leapmotor held a signing ceremony in Huzhou, Zhejiang province, settling its NEV key components project in the city.

GAC AION opens first flagship store in Myanmar

On May 18, GAC AION's first and Myanmar's largest flagship store grandly opened.

SAIC Motor, Audi to launch first Advanced Digitized Platform-based EV in 2025

On May 20, 2024, in Shanghai, SAIC Motor and Audi officially signed a cooperation agreement to jointly develop the Advanced Digitized Platform, following a memorandum of understanding signed in July 2023.

Geely to build automotive high-tech valley in Sanya, Hainan Free Trade Port

On May 18, a significant signing ceremony took place in Sanya, marking the formal launch of the "Dual Park, Dual Headquarters" initiative between Hainan Free Trade Port's Sanya Central Business District and Geely Automotive High-Technology Valley. This event signifies a new phase in the collaboration between the two entities.

CATL, Guangzhou Public Transport ink agreement to boost vehicle electrification

On May 17, Guangzhou Public Transport, CATL, CITL, Guangzhou Bus Group Transport Branch, and Guangzhou Yi Ma Contemporary Amperex Technology signed a strategic cooperation framework agreement at CATL's headquarters, according to a post on CATL's WeChat account.