Gasgoo Daily: Tesla Shanghai Megafactory reaches 45% completion

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.

Tesla Shanghai Megafactory reaches 45% completion

Tesla's Shanghai Megafactory, its second major investment in China after the Gigafactory Shanghai, has made rapid progress. From negotiations to signing, the process took just one month, and construction began within three months. The megapack factory, with an initial planned capacity of 40 GWh, has been 45% completed, according to Grace Tao, the Global Vice President of Tesla.

Tesla store; photo credit: Tesla

GAC AION's global lighthouse factory set to start operation in Changsha

GAC AION's Changsha Intelligent Eco-Factory is set to be completed and start operation on August 21, with an expected annual output of 200,000 new energy vehicles.

Baolong Automotive secures AVM camera project for major joint venture auto brand

Baolong Automotive on August 20 announced it secured a new project for AVM cameras with a leading joint venture automaker. The project, valued at approximately 168 million yuan over its five-year lifecycle, is expected to see its first model enter mass production in October 2025.

BYD’s YANGWANG to begin customer delivery of U9 supercar soon

On August 16, BYD saw its YANGWANG U9 electric supercar model's first vehicle for customer delivery roll off the production line, and announced the deliveries of the U9 will commence in the near future.

BYD’s 2025 Song PLUS EV hits market, starting at 149,800 yuan

On August 19, BYD officially put the 2025 model of its Song PLUS EV onto the market, introducing three variants: the 520KM Luxury, 520KM Premium, and 605KM Flagship, which are priced between 149,800 yuan and 175,800 yuan.

Dongfeng Motor to take part in Nepal’s NADA Auto Show

In August, China Dongfeng Motor Industry Import and Export Company, the global business arm of Dongfeng Motor, plans to showcase its latest models at the NADA Auto Show in Nepal and launch the Dongfeng brand in Malaysia, according to a recent post on the company’s Wechat account.

Leapmotor expands presence to Lhasa with new Leapmotor Center

On August 18, Chinese new energy vehicle maker Leapmotor witnessed the grand opening of its new flagship store in Lhasa, Xizang, the high-altitude region of China. The Lhasa Leapmotor Center, located at 5 Boda Road in the Lhasa Economic Development Zone, is the latest addition to Leapmotor’s sales network, extending its market reach to the "Roof of the World."

Hesai Technology posts 4.2% YoY rise in Q2 2024 revenue

On August 20, Hesai Technology, a leading developer and manufacturer of LiDAR systems, announced its unaudited financial results for the second quarter of 2024, during which, the company reported revenue of 460 million yuan, marking a 4.2% year-on-year increase.

AVATR Technology acquires 10% stake in Huawei’s Yinwang for 11.5 billion yuan

On August 20, Changan Automobile announced that AVATR Technology, its affiliated smart new energy vehicle company, signed a share transfer agreement with Huawei. The agreement outlines AVATR’s acquisition of a 10% stake in Yinwang (name in Chinese pinyin), a subsidiary of Huawei, for 11.5 billion yuan.