Passenger Car Association Branch: The New Four Modernizations Index for Passenger Cars in July was 49.4
On August 30th, the Passenger Car Market Information Joint Branch of the China Automobile Dealers Association, in collaboration with Shanghai Anluqin Enterprise Management Consulting Co., Ltd., jointly released the New Four Modernizations Index for passenger cars, which was 49.4 in July 2024. The electrification index is 51.1; The intelligence index is 4.2; The Internet connectivity index is 23.7.
The European Commission plans to impose high anti subsidy taxes on Chinese electric vehicles, and the China Council for the Promotion of International Trade responds
On August 30th, the China Council for the Promotion of International Trade responded to the European Commission's proposal to impose a high countervailing duty on imported electric vehicles from China.
A spokesperson for the China Council for the Promotion of International Trade (CCPIT) stated that the European Commission has recently released a final ruling on its investigation into Chinese electric vehicle subsidies, and plans to impose high countervailing duties on imported electric vehicles from China. The China Council for the Promotion of International Trade and the China Chamber of International Commerce strongly oppose this.
During the investigation of the case, Chinese electric vehicle industry enterprises actively cooperated and submitted a large amount of evidence materials to prove that the development of Chinese electric vehicles is not based on subsidies, but on the advantages of the global electric vehicle supply chain, continuous technological innovation, industry scale, and fierce market competition. There is insufficient evidence to show that Chinese new energy vehicles have caused substantial damage to the EU market. The European side initiated a countervailing investigation based on speculation and possibility, ignoring relevant facts and investigation rules, and refusing to correct erroneous findings. This is typical trade protectionism and unacceptable to the industry.
A spokesperson for the China Council for the Promotion of International Trade (CCPIT) stated that the Canadian government has recently announced that it will impose tariffs on imported electric vehicles and other products from China. This is also a typical unilateralism restriction measure, ignoring the facts of industrial development and WTO rules, and openly using the protection of domestic industries as a pretext for trade protectionism.
Ford China fined for unclear information on prize sales
Tianyancha's business risk information shows that recently, Ford Motor (China) Co., Ltd. was fined 50000 yuan by the Shanghai Pudong New Area Market Supervision Administration for unclear information on prize sales, which affected prize redemption.
The cause of punishment shows that in May 2022, the party concerned launched a prize promotion activity entitled "Ten Thousand Fans Cultivation Plan" on its WeChat official account. The specific content of the activity is: "How do you want to make the atmosphere today? The three partners with the highest praise in the comment area can win a 520 prize gift (the activity ends at 17:00 on May 25)". The party concerned failed to publicize the price, name, type and other information of the prize as required. In July of this year, the parties involved have deleted the relevant content.
BYD Hungary factory's 700th pure electric bus goes offline
On August 30th, according to BYD Commercial Vehicle, the 700th pure electric bus from BYD Hungary's electric bus factory was officially launched and delivered. The B18 bus will be showcased at the Berlin Rail Transit Exhibition in September.
Guangzhou Automobile Group's exports increased by 190% in the first half of the year, and plans to launch new PHEV and REV models next year
On August 30th, according to the semi annual performance of GAC Group, the group sold 863000 vehicles in the first half of the year, with a total operating revenue of 181.142 billion yuan and a total profit of 4.565 billion yuan. The consolidated gross profit increased by 5.5% year-on-year and the gross profit margin increased by 1.38% year-on-year.
During the reporting period, GAC Group's automobile exports increased by about 190% year-on-year, with overseas markets covering 68 countries and regions and 323 global sales outlets.
Guangzhou Automobile Group stated that the company is continuously increasing the sales proportion of new energy and energy-saving vehicles. In the first half of the year, the sales proportion of the entire group has increased to 40.63%. The company will further adjust its new energy product structure and plans to launch new PHEV and REV models by 2025.
Lei Jun: Xiaomi's intelligent driving has been upgraded again, achieving urban NOA
On August 30th, Lei Jun announced on Weibo that Xiaomi's intelligent driving has been upgraded again, achieving city NOA (nationwide driving).
It is understood that the Xiaomi SU7 City Navigation Assistance Pioneer Edition can accurately plan travel trajectories, achieve more flexible obstacle avoidance and timely overtaking. In terms of small road traffic, the Urban Navigation Assistance Pioneer Edition has added driving behaviors such as cross line avoidance, lane avoidance, cross lane avoidance, and overtaking and lane changing.
Evergrande Auto: Net loss in the first half of the year totaled RMB 20.257 billion
On the evening of August 30th, Evergrande Auto announced on the Hong Kong Stock Exchange that as of June 30th, 2024, the group's total assets amounted to RMB 16.369 billion; The total liabilities are RMB 74.35 billion, including RMB 26.59 billion in loans, RMB 46.695 billion in trade and other payables, and RMB 1.065 billion in other liabilities.
During the reporting period, the group's revenue was RMB 38 million and gross profit was RMB 2 million; The total net loss was RMB 20.257 billion, an increase of 194.73% year-on-year.
Jixing Automobile's revenue in the first half of this year decreased by 26% year-on-year
On August 29th, Swedish time, Polaris announced that its revenue for the first half of 2024 was $918 million, a year-on-year decrease of 26%; The operating loss was 466.2 million US dollars, a year-on-year decrease of 6%. As of June 30, 2024, the company's cash and cash equivalents amounted to 669 million US dollars. In addition, the delivery volume in the second quarter of this year was 13150 vehicles, an increase of 82% compared to the previous quarter; The global delivery volume reached 20371 vehicles in the first six months of this year.
The lawsuit accusing Musk and Tesla of manipulating Dogecoin has been dismissed
Manhattan District Judge Alvin Hellenstein has dismissed a lawsuit accusing Musk and Tesla of deceiving investors by hyping up the cryptocurrency Dogecoin and engaging in insider trading. Investors initially demanded compensation of $258 billion and amended the lawsuit four times within two years.
Hulestan stated that Musk's statement on Twitter that Dogecoin is the future currency of the Earth and can be used to purchase Tesla is "a wish and a boast, not a fact". This means that no rational investor can rely on these tweets to file a securities fraud lawsuit.