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CnEVPost Newsletter: NIO's software VP jumps ship; Carmakers donate to flood-hit Henan
NIO's software VP jumps ship to join GM - CnEVPost — cnevpost.com Car-making startups with a strong focus on software has become targets for traditional car companies to poach talents.
NIO donates about $2.3 million to flood-hit Henan - CnEVPost NIO announced Wednesday that it has donated 15 million yuan ($2.3 million) to Henan Province to support local relief efforts.
XPeng donates about $2.3 million to flood-ravaged Henan - CnEVPost XPeng Motors announced on Wednesday that it has donated RMB 15 million ($2.3 million) to the Henan Provincial Charity Federation for flood relief efforts.
Li Auto donates about $1.54 million to flood-ravaged Henan Province - CnEVPost Li Auto donated 10 million yuan ($1.54 million) to Henan Province through the China Charity Federation, the company said on July 21.
BYD donates about $3.1 million to flood-hit Zhengzhou - CnEVPost BYD announced on Wednesday that the BYD Charitable Foundation donated RMB 20 million ($3.1 million) to the Zhengzhou Charity Federation for disaster relief emergency initiatives and post-disaster recovery work.
Geely donates about $4.64 million in cash and equipment to flood-stricken Henan - CnEVPost This includes RMB 25 million in cash and RMB 5 million worth of three industrial-grade drones and auxiliary equipment from Geely's Aerofugia specifically designed for disaster surveys.
XPeng G3 OEM Haima's plant in Zhengzhou shut down due to flooding - CnEVPost XPeng said the current situation will not affect the company's production and sales.
Alibaba increased its long position in XPeng HK shares by about 15% - CnEVPost On July 7, Alibaba increased its long position in XPeng Motors from 0% to 14.97%, according to a HKEx filing.
Nissan Zhengzhou production base temporarily shut down due to heavy rainfall and flooding - CnEVPost Nissan's production base in the capital city of Zhengzhou is in a state of temporary suspension due to heavy rains, yicai.com said Wednesday, citing a source from Nissan China.
Analyst says it's possible that Tesla's software business will be more valuable than hardware - CnEVPost Tesla recently launched a monthly subscription service for Full Self-Driving (FSD), and the potential of the business promises to make Tesla's software business more valuable than its hardware, according to Morgan Stanley.
Tesla to open Supercharger network to other EVs within the year, Musk says - CnEVPost Tesla will open its Supercharger network to other electric cars within the year, the company's CEO Elon Musk said on Twitter on Wednesday.
BYD teases first electric SUV of its e-Platform 3.0 - CnEVPost BYD previewed the Yuan Plus on July 21, the first pure electric SUV of its e Platform 3.0, positioned as a compact SUV.
Power battery maker Gotion to build 20 GWh production base in Hefei to supply unified cells to VW - CnEVPost The project is expected to cover 500 acres and will be built in phases. In the first phase, the company will build 10 GWh of battery capacity, with production scheduled to begin 18 months from the start of construction.
Great Wall Motor reports strong H1 performance, shares rise by daily cap of 10% - CnEVPost For the first half of 2021, Great Wall Motor reported revenue of RMB 62.159 billion ($9.6 billion), up 73 percent year-over-year, according to figures the company announced on July 20.
Chery's plans to enter US suffer setback as its partner files for bankruptcy - CnEVPost Chery Automobile's plans to enter the United States have been thwarted as its partner, California-based car dealer HAAH Automotive, has filed for bankruptcy on July 19, yicai.com reported Wednesday.
SAIC plans to invest about $310 million in fuel cell heavy truck sector - CnEVPost SAIC Motor, China's largest local automaker, announced on July 20 that it has signed an agreement with Inner Mongolia's Ordos municipal government to invest 2 billion yuan ($308 million) to build a fuel cell heavy truck chain there between 2021 and 2025.
SAIC is China's top vehicle exporter in H1 - CnEVPost The top 10 companies are SAIC Motor, Chery, Changan, Dongfeng Motor, GWM, Geely, BAIC, Tesla, JAC Motors and Sinotruk.
Why does SAIC continue to produce Mini EV when each car contributes less than $14 net profit? - CnEVPost Mini EV is priced at RMB 28,800 ($4,451)-RMB 43,600, and its parts cost up to about RMB 20,000.
CATL sues smaller rival for patent infringement - CnEVPost If CALB loses the lawsuit, its entire product line could be banned.
Volvo to acquire Geely Holdings' stake in China joint venture - CnEVPost Volvo announced on July 21 that it has reached an agreement with parent company Geely Holdings to acquire the latter's stakes in two joint ventures in China.
Aulton's first battery swap stations with Sinopec go into operation - CnEVPost In addition to its partnership with NIO on battery swap station construction, China's fossil fuel giant Sinopec Group is moving forward with similar partnerships with other companies.
FF to begin trading on Nasdaq on July 22 as PSAC approves merger deal - CnEVPost The business combination of the two is expected to close around July 21, 2021, and FF expects to receive about $1 billion in funding, according to the announcement.
Analyst says global power battery supply could run out by 2025 - CnEVPost The global electric vehicle industry faces an imminent threat that its battery supply could run out as early as 2025, according to a research note by Bank of America (BofA).
Shanghai aims to reach about $54 billion in NEV output by 2025 - CnEVPost Shanghai aims to further increase the share of electric vehicles and fuel-cell vehicles, promote the transformation of car companies into emerging industries and nurture auto parts companies with tens of billions yuan in sales.
Beijing to hold connected car conference on Sept. 25 - CnEVPost The 2021 World Intelligent Connected Vehicle Conference will be held in Beijing from Sept. 25-28, China's Ministry of Industry and Information Technology said on Wednesday.