High temperature weather made for a surge in electricity consumption, and power rationing in Egypt was reported

On October 29, the Beijing Municipal Bureau of Commerce adjusted the deadline for subsidy applications in light of Beijing’s auto consumption demand and the implementation of the auto trade-in subsidy policy, announcing the following: the deadline for applications for Beijing’s 2026 auto trade-in subsidy will be extended from 24:00 on November 30, 2026 to 24:00 on January 10, 2027, except where the annual subsidy funds have been exhausted. If relevant information needs to be changed or corrected, such changes must be completed and submitted before 24:00 on January 20, 2027. Applications for subsidies or corrections of relevant information submitted after the deadline will not be accepted. For applicants for vehicle scrappage and renewal subsidies, the Certificate of Recycling of End-of-Life Motor Vehicles, Certificate of Cancellation of Motor Vehicle Registration, Uniform Invoice for Motor Vehicle Sales and Motor Vehicle Registration Certificate submitted must all be obtained between January 1, 2026 and December 31, 2026.

On October 29, An Conghui, CEO of Geely Holding Group, said at the company’s third-quarter earnings call that Geely will unswervingly advance the “One Geely” strategy set out in the “Taizhou Declaration.” “Under this strategy, the group is rapidly advancing the shutdown, suspension, merger and conversion of underperforming businesses, and has achieved good results since last year,” An said. Regarding overseas operations, An said the company is comprehensively advancing product validation, plant technical upgrading and localized supply chain layout. “Next year, you will see that at several important plants in the EU, a number of important products will be put into local production.”