Gasgoo Daily: Autoliv Opens New Steering Wheel Plant in Hefei

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.

Changan's EV unit Deepal seeks ¥6.12 billion in new funding round

Recently, Changan Automobile announced plans for a new capital increase at its majority-owned subsidiary, Deepal Automotive Technology Co., Ltd. (DEEPAL), with total proceeds expected to reach approximately 6.12 billion yuan.

The fundraising will be carried out through a combination of a public listing on the Chongqing United Assets and Equity Exchange and privately negotiated capital injections. The final transaction price will be determined through the public listing process and will not fall below the valuation filed with state asset regulators. Existing shareholders and qualified external investors will both be eligible to participate.

The 10,000th Maextro S800 rolls off the production line

The 10,000th unit of the Maextro S800, a flagship sedan under Huawei’s Harmony Intelligent Mobility Alliance (HIMA), has rolled off the production line. It took about 200 days to reach the milestone since the model’s official launch on May 30.

Positioned as a D+-segment flagship sedan, the Maextro S800 is priced between 708,000 yuan and 1.018 million yuan. The model debuts with Huawei ADS 4 advanced driver-assistance system and is offered in dual-motor and tri-motor variants. The range-extended version delivers a combined driving range of up to 1,333 km, while the battery-electric version offers a CLTC range of 702 km.

Since its market launch, the Maextro S800 has seen rapid growth in orders. Firm orders surpassed 1,000 units within the first hour, reached 3,600 units in seven days, exceeded 5,000 units in 19 days and topped 8,000 units within 50 days. As of Nov. 20, cumulative firm orders had surpassed 18,000 units.

Autoliv Opens New Steering Wheel Plant in Hefei

On December 16, Autoliv announced the official opening of its new plant, Autoliv (Hefei) Vehicle Safety Systems Co., Ltd., in Hefei. The modern smart factory, dedicated to steering wheel production, is Autoliv's second specialized steering wheel manufacturing base in China. It is designed to enhance the company's global supply capabilities and support the future development of the automotive safety industry.

Looking back at the project timeline, Autoliv signed an agreement for the plant with the city of Hefei, Anhui Province, on March 13, 2024. Located in Feixi County, the project is planned as a smart steering wheel factory with an annual production capacity of several million units and a site area of about 13.2 acres.