In order to achieve faster and long-term development, various personnel changes and organizational adjustments have recently taken place at Li Auto and XPeng, two Chinese electric vehicle manufacturers.
Ads for South Korean automotive giant Kia have appeared frequently on the sidelines at the ongoing FIFA World Cup in Qatar, bringing the brand back into the spotlight in China. However, its joint venture in the country is now grappling with a financial crisis.
Japanese automotive giant Honda Motor announced on December 8 that it will purchase about 123GWh in vehicle batteries from China's CATL from 2024 to 2030. These products will be produced centrally at CATL's Yichun Factory.
BYD's luxury electric vehicle brand Yangwang revealed its logo on December 9, which was inspired by the "electricity" symbol in oracle bones, China's earliest writing system.
Tesla CEO Elon Musk has reportedly confirmed the individual to replace him as CEO of the firm. Tom Zhu, Tesla's current global vice president and CEO of Greater China, will take up this high-profile position.
Niutron, an electric vehicle firm established by Li Yinan, the founder of Chinese electric scooter firm Niu Technologies, announced on December 7 that the firm's first EV model could not be delivered quickly, and that a full refund would be made within 48 hours to more than 24,000 consumers.
Hanxing Venture Capital, a Xiaomi affiliate, recently increased its investment in Hefei-based chip firm Rhino. The company's core products are autonomous driving chips but is also involved in developing autonomous driving solutions and development tool chains.
Chinese new energy vehicle company BYD announced on December 5 that the company and its partner Motorysa, a Colombian distributor, released a new Ocean series model – the pure electric "Dolphin" sedan.
WM Motor, which is still looking for new financing channels, plans to list in Hong Kong through a reverse takeover with Apollo Smart Travel, the latter of which is mainly engaged in the travel business, vehicle platform authorization and engineering service outsourcing.
According to a news released by the China Passenger Car Association (CPCA) on December 5, Tesla's Shanghai Gigafactory delivered 100,291 electric vehicles in November, setting a new monthly delivery record again.
Chinese new energy vehicle brand Li Auto has always positioned its car models as suitable for families. In some second-tier cities in China, however, small business owners are also becoming important consumers of Li Auto, and its cars are increasingly being used as company vehicles in this sector.
Chinese electric vehicle maker XPeng sold less than 10,000 units in both October and November, falling behind its rivals. Behind these challenges are reportedly organizational deformities.
On December 2, Chinese electric vehicle maker BYD announced that it had sold 230,427 new energy vehicles in November, up from 91,219 units a year earlier. This year's cumulative sales reached 1,628,297 vehicles, a year-on-year growth of 219.38%.
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, Tesla announced its recall of 142,277 Model 3s manufactured in China between December 27, 2020 and November 7, 2022, as well as 292,855 Model Ys manufactured between January 1, 2021 and November 11, 2022.
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.
In recent days, reports about a chip joint venture in China between Tesla and Swiss semiconductor company Annex have attracted a lot of attention, but on November 30, Tesla China said that the EV maker has not established a chip company in China.