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Cummins announces renewal of joint-venture contract with CQME
Cummins announces renewal of joint-venture contract with CQME

Cummins and Chongqing Machinery & Electric Co., Ltd. (“CQME”), a Chinese CV component supplier, together announced on May 17 the continuation of their joint-venture partnership, according to a post on Cummins’ WeChat account.

May 18 , 2022
China’s PhiGent Robotics bags $30 million in Series A for AD advancement
China’s PhiGent Robotics bags $30 million in Series A for AD advancement

On May 18th, Beijing-based autonomous driving developer PhiGent Robotics announced the completion of its A financing round, raising $30 million in total.

May 18 , 2022
DENZA obtains 5,679 orders of D9 MPV in one day after presale starts
DENZA obtains 5,679 orders of D9 MPV in one day after presale starts

DENZA, a premium auto brand majority-owned by BYD, received orders totaling 5,679 units of the D9 only 24 hours after presale of the fire new MPV model kicked off on May 16.

May 18 , 2022
GCL-ET, Tongsheng Industrial Investment team up on mobile digital energy projects
GCL-ET, Tongsheng Industrial Investment team up on mobile digital energy projects

GCL-ET on May 16 signed an agreement with Sichuan Tongsheng Industrial Investment Co., Ltd. (“Tongsheng”) to jointly boost the digital economy and auto electrification development for Sichuan province.

May 17 , 2022
SGMW says cumulative retail sales of Hongguang MINIEV surpass 700,000 units
SGMW says cumulative retail sales of Hongguang MINIEV surpass 700,000 units

SAIC-GM-Wuling (“SGMW”), General Motors' joint venture with Chinese partners SAIC Motor and Guangxi Automobile Group, announced on May 17 it has accumulated over 700,000-unit retail sales of the Hongguang MINI EV electric car.

May 17 , 2022
UXIN likely to bag new capital from existing shareholders including NIO Capital
UXIN likely to bag new capital from existing shareholders including NIO Capital

Uxin Limited on May 16 entered into a binding term sheet with affiliates of two existing shareholders, NIO Capital and Joy Capital (collectively, the “Investors”) for new financing business.

May 17 , 2022