On October 24, Baidu and Geely’s jointly owned auto brand, JIDU, announced that the first Verification Prototype of the ROBO-01 automotive robot officially rolled off the production line at the trial manufacturing center of Geely Auto Research Institute.
GAC Group sets up auto parts subsidiary
According to Chinese corporate database Tianyancha, Ruipai Power Technology Co., Ltd. was incorporated recently, with a registered capital of 900 million yuan. The new company is authorized to operate in such areas as mechanical and electrical coupling system R&D, auto parts and accessories manufacturing, gear and gearbox manufacturing, as well as bearings, gears, and transmission parts manufacturing. The company is jointly held by GAC Group, GAC AION, and GAC Motor.
Patent image of Chery Auto’s all-new SUV model revealed
The patent images of Chery Auto’s brand-new SUV model were released to the public recently. The new model is scheduled for launch in the first half of 2023. The SUV adopts a new design for the air intake grille, with internal grids enriching the transverse width of the front of the vehicle.
Great Wall Motor announced on October 22 its plan to incorporate a semiconductor joint venture which will involve a registered capital of 50 million yuan ($689.4 million).
Continental Automotive Electronics (Jinan) Co., Ltd., a wholly-owned subsidiary of Continental AG in China, on Oct. 21 signed an agreement with Guangzhou Harson Enterprise Management Services Ltd. (“Harson”), a Chinese automobile repair service provider, to conduct strategic cooperation in the smart roof sunshade field, according to a post on Continental AG’s WeChat account.
China’s IC design fabless EVAS Intelligence announced the completion of its Pre-A financing round, which raised for the company over 300 million yuan ($41.4 million).
On October 24, the US electric vehicle (EV) maker, Tesla, announced a new round of price drop on the Model 3 and Model Y EVs sold in China.
CATL announced last Friday that its revenue reached about 97.369 billion yuan ($13.426 billion) in the third quarter of 2022 (Q3 2022 or reporting period), rocketing 232.47% from the previous year.