The progress of Xiaomi's vehicle manufacturing project is reportedly falling short of expectations, which may eventually lead to lower product competitiveness.
Li Auto announced on November 27 that due to a supply shortage of core auto parts, vehicles that should have been delivered at the end of November as shown in the firm's mobile app will be postponed until December.
Geely, one of China's leading private automotive technology groups, announced on November 17 that it has signed an agreement to license its pure electric Sustainable Experience Architecture (SEA) to ElectroMobility Poland (EMP), an electric vehicle manufacturer backed by the Polish government.
Chinese goods from the city of Yiwu in Zhejiang Province, one of the world's largest commodity hubs, will not miss the quadrennial World Cup.
Liu Jincheng, the chairman of leading Chinese battery firm EVE Energy, predicted that there will be overcapacity across the whole battery chain in 2024 at the latest, and only battery products with high quality and low cost will be spared.
Sinopont, a Chinese solar encapsulant film manufacturer, announced on November 16 that it has completed round-D financing worth several hundred million yuan. Source Code Capital participated in this round of investment.
The Zhengzhou plant of Foxconn in Henan Province, China, was recently affected by the COVID-19 pandemic. Some local governments have been asked to get involved and take the lead in supporting work at Foxconn for a period ranging from 1 to 6 months.
OFilm, AAC Technologies, Lens Technology, Compal, GoerTek, and others, have made great achievements because they entered Apple's supply chain. However, once out of the chain, enterprises are often abandoned by the stock market.
GoerTek, a China-based Apple supplier, has lost a major order to produce AirPods Pro 2. Ming-Chi Kuo, an analyst at TF International Securities, wrote on November 9 that this development is most likely due to production issues rather than demand issues.
On November 8, Atech Automotive (Wuhu) Co., Ltd., a smart vehicle equipment manufacturer, announced the completion of a new Round C financing deal exceeding 500 million yuan ($69 million). Hubei Xiaomi Changjiang Industrial Investment Fund Management is one of the lead investors.
Chinese battery manufacturer CALB announced on November 3 that it has signed a memorandum of understanding with a subsidiary of the Portuguese Agency for Investment and Foreign Trade.
Foxconn, the Taiwan-based leading iPhone assembler, issued a statement at midday on October 26 saying that "reports of 20,000 people diagnosed with COVID-19 at the Zhengzhou Industrial Park, Henan Province" circulating online were "seriously false information."
Leading Chinese new energy vehicle and battery firm BYD announced on October 21 that its cumulative output of photovoltaic modules in Brazil has exceeded 2 million.
Young Liu, Chairman and CEO of Taiwan-based electronics manufacturing giant Foxconn, affirmed during the firm's annual Hon Hai Tech Day on October 18 that "I hope one day we can produce electric cars for Tesla."
The Chinese division of ASML, a leading Dutch semiconductor equipment manufacturer, announced on September 2 that it employed more than 1,500 employees in the country as of the end of August.
Li Auto, a Chinese new energy automobile enterprise, held a signing ceremony on August 17 to announce that it will build an international new energy automobile core parts industrial park in Changzhou, Jiangsu Province.
Chinese automobile manufacturer Great Wall Motor announced on August 16 that it has signed a strategic cooperation contract with the Xishan Economic and Technological Development Zone in Jiangsu province.
On August 10, GiantOhm, an automobile resistor manufacturer, adding as a shareholder Beijing Xiaomi Zhizao Equity Investment Fund Partnership (Limited Partnership), a company associated with Xiaomi Group.
Fuyang Sineva, a leading photoresist enterprise based in China, secured 500 million yuan ($74.2 million) in round-C financing on August 10.
On August 2, Atech Automotive (Wuhu) Co., Ltd., an auto parts company, announced the recent completion of an A round of financing, though the amount was not been disclosed.