With its advantages in automobile manufacturing and preferential tariff policies, Thailand is emerging as an important destination for China's new energy vehicle makers to begin exploring international markets.
Over the past two years, a steady decline in the capacity utilization rate among traditional automakers has become an intensifying industry-wide trend, due to the rapid development of the new energy vehicle market.
Chinese automotive giant SAIC Motor announced on September 22 that it has jointly established a battery swapping firm alongside Sinopec, PetroChina, CATL and Shanghai International Automobile City.
IM Motors, a joint venture between SAIC and Alibaba, exhibited its concept car, IM LS7 last year. This model is scheduled to be launched in the second half of this year. However, pictures of the interior of the car have recently leaked online.
"In the last year or so, the price of lithium carbonate has exploded tenfold, and automakers are under tremendous cost pressure." Chen Hong, Chairman of SAIC Motor, said at the 2022 World New Energy Vehicle Congress on August 27.
On August 24, Chinese automotive maker SAIC Motor and smartphone maker OPPO released a user-centered, vehicle/smartphone cross-end integration solution named "ecological domain".
SAIC Mobility, a strategic brand of mobile travel under Chinese automotive giant SAIC, announced on August 15 that it has completed round-B financing totaling over 1 billion yuan ($14.7 million), with investment by SAIC, Momenta and other institutions.
JD Logistics announced on August 8 that the company and SAIC-GM-Wuling Automobile (SGMW) will work together on prospective warehousing and logistics technologies in addition to business flow and vehicle procurement services.
Chinese EV brand IM Motors announced on August 1 its signing of a Round-A Equity Financing Agreement, bringing the company's overall valuation to nearly 30 billion yuan ($4.4 billion).
On July 6, the solid state battery joint laboratory was established by SAIC, a car company, and QingTao Energy, a developer of solid-state batteries.
Chinese state-owned carmaker SAIC Motor plans to subscribe an additional capital contribution of 7.5 billion yuan to the Qingdao SAIC Innovation and Upgrading Industry Equity Investment Fund Partnership (L.P.).
IM Motors, a joint venture funded by SAIC, Alibaba and Zhangjiang Hi-Tech, officially launched the L7 Dynamic and L7 Pro models on April 17, priced at 368,800 yuan and 408,800 yuan ($57,866 - $64,143) respectively.
IM Motors, a premium electric vehicle brand founded jointly by China's largest car company SAIC and e-commerce giant Alibaba, on Tuesday began locking in orders for its first model, the L7 Pro.
On Tuesday, the China Passenger Car Association released its data for the domestic automobile market in February.
IM Motors, a joint venture backed by Alibaba Group and SAIC Motor, has now begun the mass production of its first electric vehicles and will put them on sale later this month.
On Wednesday, lidar firm Hesai Technology and Youdao Zhitu, a commercial vehicle intelligent driving company owned by SAIC Motor, announced a new strategic cooperation agreement.
SAIC Mobility, a unit of top Chinese automaker SAIC Motor, in conjunction with autonomous driving startup Momenta, have begun offering autonomous robotaxi test rides to the public in a Shanghai district as part of a trial.
According to data released by the China Passenger Car Association (CPCA) on Monday, the U.S. EV maker Tesla's wholesale volume in China in the month of October (including exports) was 54,391 units.
On Friday, SAIC released its October production and sales report at the Shanghai Stock Exchange. In 2021, SAIC has sold 555,900 NEVs, representing a cumulative year-on-year increase of 187.57%.
On Wednesday, Lei Jun, Co-Founder and CEO of Xiaomi, announced via his Weibo account that Xiaomi Auto Co. Ltd has been officially established, with registered capital of 10 billion yuan ($1.5 billion).