Smart and Sustainable Electric Mobility
While Xpeng surged 26.69 percent in the US, Nio also rose 10.58 percent, Li Auto was up only a modest 3.56 percent -- why?
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Evergrande NEV earns RMB 130 million in 2022 from its main operations, well below RMB 2.5 billion in 2022 and RMB 15.5 billion in 2020.
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Xpeng CEO said he looks forward to working with Volkswagen to bring the best technology and products to the world. Volkswagen China CEO said the two share a common vision for the future of mobility.
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Li Auto's direct offline stores will increase to more than 800 next year, more than doubling the current number, according to local media.
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Through Volkswagen's partnership with Xpeng and Audi's with SAIC, Volkswagen is strengthening its position in the Chinese auto market, the German auto giant said.
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After the completion of this investment, Volkswagen will hold 4.99% equity in Xpeng and join the board of directors.
The post Volkswagen invested 700 million USD in Xpeng and obtained 4.99% equity appeared first on CarNewsChina.com.
Xpeng and Volkswagen will initially co-develop two B-segment BEVs sold under the Volkswagen brand in the Chinese market using Xpeng's G9 platform and ADAS software, with production expected to begin in 2026.
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Li Auto validated the solid-state battery option for more than half a year, but gave up because the cost of the pack alone was close to RMB 300,000, according to local media.
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July is traditionally a slow season for the auto market, with hot weather restricting consumers from visiting stores, the CPCA said.
The post China NEV retail at 442,000 in Jul 1-23, down 2% from same period last month appeared first on CnEVPost.
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In the first half of the year, Shanghai produced 611,500 NEVs, contributing 16 percent of China's NEV production.
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