Gasgoo Daily: FORVIA relocates Clarion Electronics’ headquarters to Shanghai
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.
FORVIA relocates Clarion Electronics' headquarters to Shanghai
FORVIA recently announced that, effective October 30, 2024, the headquarters for Clarion Electronics, its business unit focusing on cockpit electronics and autonomous driving technology, would move to Shanghai, China. This strategic relocation underscores FORVIA's commitment to strengthening its presence in the Chinese market, positioning the division closer to one of the fastest-growing regions for automotive technology.
Photo credit: FORVIA
SAIC-GM-Wuling, Kingfa Technology forge strategic partnership
On October 28, SAIC-GM-Wuling signed a strategic cooperation agreement with Kingfa Technology in Liuzhou city, China. The partnership aims to deepen collaboration across technology innovation, product development, and market expansion. By leveraging cutting-edge materials and technologies, the alliance will work to elevate the quality and competitiveness of SAIC-GM-Wuling’s products, enhancing the brand’s core market appeal.
DENZA Z9 set to hit market at Auto Guangzhou 2024
On October 31, Zhao Changjiang, General Manager of BYD's DENZA Sales Division, announced on social media that the DENZA Z9 model will officially hit the market at the Auto Guangzhou 2024 on November 15.
GAC Group's revenue in Q3 2024 grows 15.41% quarter on quarter
On October 30, GAC Group released its financial report for the third quarter (Q3) of 2024, reporting consolidated revenue of 74.04 billion yuan for the first nine months of the year, a 24.18% decline year-over-year. Its Q3 revenue reached around 28.233 billion yuan, marking a quarter-over-quarter increase of 15.41% but a 21.73% drop year-over-year.
SERES boasts 539% YoY surge in Q1-Q3 revenue in 2024
On October 30, Chinese automaker SERES released its financial results for the first three quarters of 2024, showing impressive gains across key metrics. The company recorded a revenue of 106.627 billion yuan, marking a substantial year-on-year surge of 539.24%.
On October 30, autonomous new energy truck developer DeepWay and battery giant CATL celebrated the delivery of 100 Shenxiang Xingchen battery-swappable heavy-duty trucks to Xinchenghui Logistics Co., Ltd., accompanied by the inauguration of CATL’s Electric Truck Charging and Battery Swapping Center.
BIBO rolls off mass-produced intelligent suspension air supply system
On October 27, Bebest (Shanghai) Automotive Electronics Co., Ltd. (BIBO) celebrated the successful mass production of its BIBO Intelligent Suspension Air Supply System (BAS).
Hyperview, Saudi Aramco sign MoU on hydrogen-powered autonomous trucks
On October 27, Chinese autonomous driving technology company Hyperview inked a strategic Memorandum of Understanding (MoU) with Saudi Aramco. Hyperview, backed by four rounds of investment from Aramco Ventures' Prosperity7 fund, is Aramco's sole investment in the Chinese autonomous driving sector.
BAIC Group partners with Alkan Auto to build EV assembly plant in Egypt
BAIC Group recently signed an MoU (memorandum of understanding) with Alkan Auto, a subsidiary of Egyptian International Motors, to establish an electric vehicle (EV) assembly plant in Egypt.
BYD scores over 18% YoY growth in Q1-Q3 2024 revenue, net profit
For the first three quarters, BYD boasted a year-on-year rise of 18.94% in its cumulative revenue, which reached around 502.251 billion yuan. Meanwhile, its Jan.-Sept. net profit attributable to shareholders also jumped 18.12% from the previous year to 25.238 billion yuan.
UNT's revenue grows 27.16% YoY in Q3 2024
On October 28, United Nova Technology Co., Ltd. (UNT) released its third-quarter (Q3) 2024 financial report, highlighting a single-quarter revenue of 1.668 billion yuan, up 27.16% year-over-year, with a positive gross margin of 6.16%, which reflected a 14.42 percentage point increase from the previous year.
JAC Group ships 100 electric light-duty trucks to Mexico
Recently, JAC Group held a shipment ceremony for 100 electric light-duty trucks at its Xingang facility, marking a significant milestone in its strategic expansion into Mexico's electric vehicle market.
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