Evergrande Auto: The company and subscribers have suspended negotiations on the proposed transaction terms revision, and no consensus has been reached so far
On February 2nd, Evergrande Motor announced on the Hong Kong Stock Exchange that the company plans to convert some of its loans by issuing new shares. This plan involves converting a portion of the loans owed to Evergrande Group, Mr. Xu, and Xinxin into new shares of Evergrande Automobile. The company also plans to apply for partial legal exemptions to facilitate the smooth conversion of shares.
The company has previously released a series of updates and announcements, but currently Evergrande Automobile and relevant parties are suspending discussions on specific transaction terms. The parties involved are still considering whether a share conversion is really necessary and have not yet made a final decision. The announcement shows that if the decision is made to proceed with this transaction, the main terms of the transaction will be renegotiated and drafted.
Changan Automobile: Cooperation with Huawei is progressing smoothly as planned
Changan Automobile recently signed an investment cooperation memorandum with Huawei in Shenzhen. According to the memorandum, Huawei plans to integrate the core technologies and resources of its intelligent automotive solutions business into a new company. Changan Automobile and its affiliates are considering investing in the new company and supporting its future development.
The new company aims to venture into the automotive intelligent driving systems and components industry and establish an open platform for automotive industry services. The platform will open equity to existing and potential strategic partners. At present, the cooperation matters are progressing smoothly as planned.
SF Express sues WM Motor
According to the Tianyancha App, a new court announcement has been added in the service contract dispute case between SF Express Group Express Co., Ltd. and WM Automotive Technology Group Co., Ltd. The plaintiff is SF Express and the defendant is WM Automotive. The case process shows that previously, the case was first heard in the Minhang District People's Court of Shanghai, and will be heard again on February 29th.
The first phase of the FAW Fudi new energy power battery project was put into operation in Changchun
According to Changchun Automobile Economic and Technological Development Zone, on February 2nd, the first phase of the joint venture between China FAW Group Co., Ltd. and BYD Co., Ltd., the FAW Fodi New Energy Power Battery Project, was officially put into operation in Changchun, Jilin Province. As the first strategic base for new energy vehicle power batteries in Northeast China, this project is located in Changchun Automobile Economic and Technological Development Zone.
FAW Fudi New Energy Technology Co., Ltd. was established on January 15, 2022. The total investment of FAW Fudi's new energy power battery project is 18 billion yuan. According to the three phase 45GWh production capacity plan, each phase will build 15GWh. The first batch of products will be equipped with the new pure electric vehicles from Hongqi.
Desai Xiwei: The company has become without actual controllers
Desai Xiwei announced on February 2 that the voting rights waiver period promised by Guangdong Desai Group Co., Ltd., the largest shareholder, has expired on February 2, 2024. The voting rights corresponding to 10% of the company's shares held by Desai Group will automatically resume exercise on February 3, 2024 (inclusive).
After this equity change, the actual controller of the company will be changed from the State owned Assets Supervision and Administration Commission of Huizhou Municipal People's Government to no actual controller.
Tesla's January sales exceeded 71000 yuan
According to the sales estimate released by the China Association of Automobile Manufacturers, Tesla sold 71447 electric vehicles in January 2024, a year-on-year increase of 8%. Previously, Tesla's best-selling model Model Y was equipped with the latest generation of autonomous driving assistance hardware (HW4.0) throughout its lineup. At present, all models of Tesla S3XY have entered the era of autonomous assisted driving 4.0.
Great Wall Motors revealed plans to launch a new brand ZX
According to multiple sources, Great Wall Motors plans to launch a new brand with the code name "ZX". Its first model will be a D+level high-end new energy sedan, with a length close to the Rolls Royce Phantom. There are also reports indicating that the new brand will not be sold through existing channels in the future.
Chuan Ideal and NIO Set End to End Intelligent Driving Boarding Schedule
On February 2nd, according to a later Auto report, Ideal and NIO have set a timetable for end-to-end intelligent driving on board. The ideal new model will be launched in the first half of this year, and the new algorithm architecture will not limit the road range and can be used nationwide. NIO will launch an end-to-end active security feature in the first half of this year.
US regulatory agencies upgrading their investigation into Tesla's power steering issues
The National Highway Traffic Safety Administration (NHTSA) has upgraded its investigation into Tesla vehicle power steering losses to engineering analysis, which is often seen as a necessary step before potential recalls.
NHTSA announced on February 2nd that an estimated 334600 2023 Model 3 and Model Y vehicles need to undergo engineering analysis. After receiving 2388 complaints, the Office of Defects Investigation (ODI) of regulatory agencies began a preliminary assessment of the steering loss issue of Tesla Model 3 and Model Y cars in July last year.
Toyota's four factories located in Japan have extended downtime
According to NHK's report on February 1st local time, due to the scandal of Toyota's automatic weaving machine testing violations under the Toyota Group, the shutdown time of 6 production lines at Toyota's 4 factories in Japan will be extended until February 5th. The timing of resuming production is still uncertain.
Last year, the share of new car sales in Thailand increased to 11% for Chinese car companies, while the share of Japanese cars fell below 80%
On February 2nd, it was reported that in the 2023 new car sales market in Thailand, the share of Chinese automotive companies reached 11%, an increase of 2.2 times from the previous year. The market share of Japanese cars decreased by about 8 percentage points to 78%. In terms of Chinese automotive companies, BYD sold 30000 vehicles in Thailand in 2023, increasing its market share to nearly 4%, surpassing Nissan and Mazda and rising to sixth place.