CnEVPost Newsletter: China's new policies to stimulate auto consumption looming
China mulls extending EV subsidies due to expire at year-end, report says - CnEVPost — cnevpost.com China is in talks with automakers to extend EV subsidies that were set to expire in 2022, aiming to maintain growth in a key market amid a broader economic slowdown, Reuters said.
China expected to introduce new policies to boost rural car consumption in early June, report says - CnEVPost China will encourage consumption by rural residents of cars priced at less than 150,000 yuan ($22,230), including ICE vehicles and NEVs, according to local media.
NIO extends gains in Hong Kong, while XPeng and Li Auto fall - CnEVPost NIO has risen for a fourth straight day in Hong Kong, bringing its cumulative gain since May 13 to about 30 percent.
BYD secures $593 million worth of lithium supplies from local producer - CnEVPost This is the first lithium supply contract BYD has secured after its strategic stake in Shenzhen Chengxin, which is expected to give it a more stable supply of raw material.
Eve Energy plans to build new 10 GWh battery facility in southwest China's Yunan - CnEVPost Eve Energy plans to invest RMB 3 billion ($444 million) in a 10 GWh power battery project in Yunnan.
China's passenger car retail sales fall 21% year-on-year in first half of May - CnEVPost The recent decline in income for some residents following the Covid outbreak has led to an impact on consumption, and the contraction in demand has trickled down to the auto market, the CPCA said.