Chinese vehicle manufacturer Evergrande Auto is now in the midst of wage arrears and layoffs after plans were revealed to cut 60% of workers at its Tianjin plant.
The new energy vehicle subsidies issued by the Chinese government for the past 13 years are scheduled to end this year. However, the vast majority of domestic NEV enterprises have not yet achieved profitability, and are still investing in large-scale research and development.
On December 1, a number of Chinese new energy automobile enterprises announced their new vehicle deliveries data for the month of November. Performance varies, but most of achieved year-on-year sales growth.
Chinese automaker BYD held a media event in Mexico on November 29, during which the firm's Han sedan and Tang SUV debuted in the country. These vehicle models are expected to be launched in Mexico in 2023.
This year, NETA Auto surpassed many of its peers in China's electric vehicle market to take the top spot in terms of overall deliveries. But the Chinese automaker is now facing questions about possibly exaggerated delivery figures.
Beijing Borgward, once billed as a rival to BMW, Mercedes-Benz and Audi, officially declared bankruptcy on November 29. The announcement explained that it was drained to pay off its debts but its current assets are not enough to settle the balances.
XPeng, a leading Chinese electric vehicle company, on November 30 announced its unaudited financial results for the third quarter of 2022. Its total revenues were 6.82 billion yuan ($0.96 billion) for the third quarter, representing a year-on-year increase of 19.3%.
Chinese electric vehicle firm NIO and internet giant Tencent signed a strategic cooperation agreement in Shenzhen on November 28. Under the deal, the two sides will carry out in-depth cooperation in the fields of autonomous driving cloud technology, intelligent driving maps and digital ecology.
The Frigate 07 electric vehicle model from Shenzhen-based automotive firm BYD will be launched on December 9. As a brand-new addition to BYD's Warship Series, the Frigate 07 is positioned as a five-seat medium-sized SUV.
Chinese internet giant Baidu announced plans on November 29 to build the world's largest autonomous ride-hailing service area next year. The message came during a celebration of Apollo Day, the firm's autonomous driving tech event.
Hyperview, an autonomous driving startup in China, announced on November 28 that it had completed the B round of financing worth several hundred million yuan.
Reports have surfaced that Chinese electric vehicle maker XPeng Motors recently started a self-developed batteries project. The firm later denied the rumors.
The progress of Xiaomi's vehicle manufacturing project is reportedly falling short of expectations, which may eventually lead to lower product competitiveness.
Chinese new energy vehicle manufacturer Aiways has signed a strategic cooperation agreement with Phoenix Electric Vehicle Co., Ltd., an automotive firm headquartered in Bangkok, Thailand.
Li Auto announced on November 27 that due to a supply shortage of core auto parts, vehicles that should have been delivered at the end of November as shown in the firm's mobile app will be postponed until December.
William Li, the co-founder and CEO of Chinese electric vehicle firm NIO, offered insight regarding user experience, supply chains, production capacity, and recent progress of the firm's mobile phone business.
The Hengchi 5 model made by the automotive wing of Chinese real estate developer Evergrande opened for sale at the end of October. Recently, however, some Chinese web users have complained that the new car is beset with various quality problems.
China's automobile and coffee industries have been getting closer and closer lately. In October of this year, domestic electric vehicle maker NIO applied for several trademarks related to coffee in a bid to search for new growth points.
Half a year has transpired since Chinese electric vehicle startup WM Motor submitted its application for a public listing, but a lack of progress with those plans has caused it to consider alternative paths, such as reverse merger.
With its advantages in automobile manufacturing and preferential tariff policies, Thailand is emerging as an important destination for China's new energy vehicle makers to begin exploring international markets.
