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.
CPCA projects 1.72 million PVs sold in October
Photo credit: NIO
China Passenger Car Association reported an 11.9% retail discount rate in mid-October among passenger vehicles, down 0.5 percentage points compared to the end of last month. Estimated passenger vehicle retail volume is at roughly 1.72 million vehicles this month, dropping 13.7% year on year.
JAC Group: Q1-Q3 profit to quadruple
JAC Group reported an estimated net profit of RMB195 million for the first three quarters this year, indicating a 360% increase from a year ago. Net loss after non-recurring deduction would amount to RMB700 million.
Zhongtong Bus Holding loses RMB221 million YTD
According to Zhongtong Bus’s announcement, the company saw a 29.92% year-on-year decline in revenue to RMB2.28 billion in the first nine months of this year. Net loss of the company amounted to RMB221 million in the reporting period, while it saw a profit of RMB11 million last year.
Today, during the HUAWEI DEVELOPER CONFERENCE 2021 (HDC), Richard Yu disclosed that a new HUAWEI technology powered Sokon SERES SUV is expected to launch soon.
Chinese intelligent driving solution provider JIMU Intelligent announced on Oct. 21 it has banked 200 million yuan ($31.257 million) in a Series C1 funding round.
Lighting and electronics expert HELLA established the Nanjing R&D Center in China in 2011. The aim was to further promote local development activities and developing automotive lighting and electronic products that meet the specific needs of the Chinese market.
CATL forged a strategic partnership earlier this week with Sichuan Energy Investment, a Sichuan-based stated-owned provider of power investment and development services, as part of efforts to shore up supply of lithium mineral resource.
Chery Auto is reported to pursue an IPO in China’s A share market in 2022, for it is projected to gain profit over RMB1.3 billion this year.
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