Gasgoo Daily: SAIC Motor reports H1 2024 net profit of 6.63 billion yuan

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.

SAIC Motor reports H1 2024 net profit of 6.63 billion yuan

SAIC Motor has released its financial report for the first half of 2024, showing consolidated total revenue of 284.69 billion yuan. The company also achieved a net profit attributable to shareholders of 6.63 billion yuan in the period.

Photo credit: SAIC Motor

SGMW rolls off 2 millionth NEV

On August 28, 2024, SAIC-GM-Wuling ("SGMW") rolled out its 2 millionth new energy vehicle (NEV) from the production line. The milestone vehicle, a Wuling Xingguang S, was manufactured at the SAIC-GM-Wuling Lean Smart Manufacturing Plant located in the Baojun base in Liuzhou city, Guangxi Zhuang Autonomous Region.

Farizon Auto signs agreement to build methanol-hydrogen electric green transportation infrastructures in Daqing

On August 28, Geely's Farizon New Energy Commercial Vehicle Group (Farizon Auto) signed a strategic partnership agreement with the Management Committee of the Daqing High-tech Industrial Development Zone. The collaboration focuses on advancing green and low-carbon transportation solutions. According to the agreement, both parties will work together to develop comprehensive transportation solutions for various scenarios and plan the construction of supporting infrastructure for methanol fuel refueling. This initiative aims to establish a tailored methanol-hydrogen electric green transportation infrastructure and an integrated transportation service system.

JI YUE 07 commences pre-sales at 215,900 yuan, featuring Baidu's Apollo Self Driving tech

On August 28, JI YUE, the automotive robot brand co-backed by Baidu and Geely, announced the release of its new V2.0 software upgrade, set to debut in the JI YUE 07 model, which started pre-sales at the same time with price of 215,900 yuan. The vehicle will officially hit the market on September 10.

SGMW's Wuling Xingguang S model hits market, starting at 99,800 yuan

On the evening of August 28, SAIC-GM-Wuling ("SGMW") officially put its new compact SUV, the Wuling Xingguang S, onto the market. Built on the D platform of Wuling's Tianyu architecture, the vehicle features a price range of 99,800 yuan to 129,800 yuan.

Pony.ai allowed for autonomous driving tests on Shenzhen's expressways

Chinese autonomous driving solution provider Pony.ai recently received a permit for autonomous driving testing on expressways in Shenzhen city, the company announced via WeChat on August 29.

CATL, Shanghai Chengtou team up on battery recycling, urban smart energy replenishment

On August 28, Shanghai Chengtou Group Corporation ("Shanghai Chengtou") and CATL held a strategic cooperation signing ceremony in Shanghai. The agreement outlines plans for collaboration in several key areas, including the battery recycling industry, urban smart energy replenishment networks, the electrification of urban sanitation vehicles and equipment, distributed low-carbon energy stations integrating solar power, energy storage, and charging infrastructure, and initiatives aimed at carbon peaking and carbon neutrality.

Chery Holding to showcase 35 key car models at 2024 Chengdu Motor Show

The 2024 Chengdu Motor Show will officially kick off on August 30, featuring a strong presence from Chery Holding with its four brands: Chery, EXEED, JETOUR, and iCAR. A total of 35 mainstay models will make their debut at the event, the automaker revealed.

BYD sees revenue, gross profit in H1 2024 both jump YoY

BYD Company Limited ("BYD" or "the Group") announced its semi-annual financial results for 2024, reporting revenue of 301.127 billion yuan, a 15.76% increase year-on-year. Among which, the revenue generated from the automobiles and related products, and other products amounted to around 228.317 billion yuan, marking a year-on-year growth of 9.33% and accounting for 75.82% of the Group's total revenue.

AITO's new M7 lineup nabs over 6,000 fixed orders in 48 hours upon market release

On August 28, Huawei's Harmony Intelligent Mobility Alliance announced that fixed orders for the new AITO M7 SUV exceeded 6,000 units within 48 hours since market release.

Dongfeng Forthing Xinghai S7 electric sedan starts presale from 129,800 yuan

On August 28, Dongfeng Motor's Forthing brand officially opened presale for the Xinghai S7 (name in Chinese pinyin), a premium electric sedan, which is set to officially hit the market on September 20.

Dongfeng launches DONGFENG BOX right-hand drive model in Nepal

On August 22, Chinese automaker Dongfeng Motor launched its DONGFENG BOX all-electric vehicle (EV) in Kathmandu, the capital of Nepal, marking the brand's first official debut of a right-hand drive model in an overseas market.