Recent years have laid bare the advantages of electrification, intelligent technology and user targets for the automotive industry, and Chinese brands are increasingly launching vehicles from 300,000 yuan ($42,624) and upward in a bid to join the high-end market.
With the arrival of the "Double 11 Shopping Festival", many Chinese automobile companies, such as Leapmotor, NETA Auto and AITO, have launched preferential policies with values as high as 13,000 yuan ($1,793) for vehicle purchases.
On November 1, NETA Auto, Li Auto, NIO, XPeng and other Chinese electric vehicle firms successively announced their delivery data for October. NIO, XPeng and Li Auto have been gradually surpassed by latecomers.
After WM Motor founder Freeman Shen's annual salary of 1.2 billion yuan ($164 million) aroused heated discussion, the Chinese second-tier electric vehicle maker is now reportedly carrying out large-scale salary reductions, including a 50% cut in executive pay.
Chinese electric vehicle maker XPeng is adjusting its organizational structure. The restructuring started about a week ago and is still in progress. It is expected that new appointments will be announced in the next week.
NETA Auto, a Chinese electric vehicle maker that has recently witnessed rapid sales growth, issued an announcement on October 12, showing that the rights and interests of NETA S users have been fully upgraded, with some changes to functional configurations.
A previously announced patent for a car chassis with adjustable lengths owned by Chinese battery giant CATL is related to cell-to-chassis (CTC) technology for electric vehicles, and is planned to be implemented before 2025.
After public listings by XPeng, NIO and Li Auto in China and overseas, the second echelon of the country's electric vehicle industry, including firms such as Leapmotor, WM Motor, and Aiways, is embarking on a new round of IPOs in a bid to secure more funding.
Chinese electric vehicle startup Leapmotor was officially listed in Hong Kong on September 29, with an opening price of HK$41 ($5.22) per share, 14% lower than its issue price of HK$48 ($6.11).
On September 20, Leapmotor, a Hangzhou-based smart electric vehicle brand, announced through the Hong Kong Stock Exchange (HKEx) that it will issue 131 million shares at a price of HK $48 to HK $62 ($6.12 - $7.9) per share.
On September 8, China's smart electric vehicle brand Leapmotor announced that the first batch of 60 mini electric vehicles, the T03, were exported to Israel, opening the first step of the brand's overseas expansion.
Chinese EV firm Leapmotor has announced that the launch of the C01, the brand's new pure electric sedan, will be on September 28.
The China Securities Regulatory Commission granted approval for Leapmotor to issue a maximum of 290 million overseas listed foreign shares. After this is completed, the EV maker can be listed on the main board of the HKEx.
A Leapmotor vehicle rear-ended another car without braking, pushing it out dozens of meters. Leapmotor confirmed that the vehicle was in a human-driven state before the collision, without activating ACC mode (Adaptive Cruise Control).
Chinese electric vehicle maker Leapmotor said on July 31 that due to factors such as rising upstream raw material prices, the company will adjust the retail price of its T03 models (except T03 2022 special edition).