Gasgoo Daily: GWM scores 1,752.55% YoY spike in Q1 2024 net profit attributable to shareholders
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.
GWM scores 1,752.55% YoY spike in Q1 2024 net profit attributable to shareholders
On April 24, Great Wall Motor ("GWM") released its financial results for the first quarter of 2024. During this period, GWM achieved revenues of 42.86 billion yuan, representing a 47.6% surge year-over-year. Meanwhile, its net profit attributable to shareholders of the listed company reached 3.228 billion yuan, marking a dramatic increase of 1,752.55% compared to the same period last year.
Photo credit: GWM
GAC Trumpchi's i-GTEC 2.0 tech brand upgraded to 2.0 phase
On April 23, GAC Trumpchi announced that its technology brand, i-GTEC, has officially advanced to the 2.0 phase. The upgrade encompasses enhancements in chassis, battery, electric motor, electric control system, intelligence, and technological platforms. Starting from 2025, technologies under the i-GTEC 2.0 will be progressively implemented in Trumpchi's new energy vehicle models.
VOYAH aims to hit second 100,000-NEV annual sales target in 2024
In the afternoon of April 24th, VOYAH, the premium new energy brand under Dongfeng Motor, conducted its 2024 Spring Technology Communication Meeting. The carmaker stated that in 2024, VOYAH is committed to achieving its second annual sales target of 100,000 new energy vehicles, which would represent a 100% surge year-over-year.
Huawei, BAIC's STELATO S9 sedan to debut at Auto China 2024
At the launch event for the new AITO M5 on April 23, Huawei's CEO of the Consumer BG, Chairman of the Board of Directors of the Intelligent Automotive Solution, Yu Chengdong announced that STELATO, a new brand under the Harmony lntelligent Mobility Alliance, will debut at the Auto China 2024 this week.
The brand's flagship model, the S9, is positioned as a luxury executive sedan and is expected to hit the market in July or August.
China's auto-grade chip maker Tinychip closes new strategic funding round
Recently, Shanghai Tinychip Limited (hereafter "Tinychip"), a leading mixed-signal automotive-grade chip manufacturer in China, announced the completion of a new round of strategic financing with tens of millions of yuan raised, according to a post on the company’s WeChat account. Chongqing BOAO Industrial Co., Ltd. serves as the strategic investor of the fresh round.
ZF celebrates relocation of airbag production base in Wuhan city
On April 24, ZF Automotive Safety Systems (Wuhan) Co., Ltd. held a ceremony to commemorate its relocation to a new factory in Wuhan, Hubei Province, according to ZF Group's WeChat account.
WeRide, Tencent Cloud to team up on building cutting-edge intelligent driving solutions
On April 24, WeRide, a leading, commercial-stage global company that develops Level 4 autonomous driving technologies, signed a strategic cooperation agreement with Tencent Cloud Computing (Beijing) Co., Ltd. ("Tencent Cloud"), according to WeRide's press release.
On April 24, Black Sesame Technologies (“Black Sesame”) and Tencent Cloud Computing (Beijing) Co., Ltd ("Tencent Cloud") inked a strategic cooperation agreement, under which the two companies will jointly develop cost-effective solutions for intelligent driving system through approaches integrating software and hardware, and promote the development of autonomous driving chips on both the vehicle and cloud fronts.
Windrose Technology unveils new energy heavy-duty trucks, new-generation chassis-by-wire system
On April 23, Chinese electric heavy-duty truck startup Windrose Technology held a launch conference, on which the company unveiled its first battery-electric heavy-duty truck, first hydrogen-powered heavy-duty truck, and the new-generation chassis-by-wire system.
Geely's Radar Auto puts RADAR Horizon model onto market
On April 23, the RADAR Horizon, the new model under Geely's high-end new energy outdoors lifestyle vehicle brand, Radar Auto ("RADAR"), officially went on sale with guidance prices ranging from 181,800 yuan to 221,800 yuan.
2024 Haval Menglong SUV goes on sale, starting at 165,800 yuan
On April 23, the 2024 Haval Menglong SUV hits market, offering four variants with prices ranging from 165,800 yuan to 192,800 yuan.
Haomo.ai, Qualcomm launch Snapdragon Ride-based intelligent driving solution HP370
On April 23, Great Wall Motor-backed autonomous driving tech firm Haomo.ai, in collaboration with Qualcomm, unveiled the Haomo HP370 intelligent driving solution built on Qualcomm' latest Snapdragon Ride platform (SA8620P).
Polestar launches Polestar Phone at 7,388 yuan
On April 23, the high-end pure electric high-performance car brand Polestar unveiled its first in-house-designed AI flagship smartphone, the Polestar Phone, priced at 7,388 yuan.
ARCFOX α S5 kicks off pre-sale with actual starting price at 174,800 yuan
On April 22, BAIC Group's premium new energy vehicle brand ARCFOX officially kicked off pre-sale of its α S5 model, with two variants available, the 650 ULTRA and the 708 MAX, priced at 199,800 and 219,800 yuan, respectively.
Additionally, the manufacturer announced various benefits, bringing the actual starting price down to 174,800 yuan.
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