XPeng Flying Car Received Over 7,000 Orders, Delivery Expected Next Year

[BAIC Group and Bosch China Sign Strategic Cooperation Framework Agreement] BAIC Group recently signed a strategic cooperation framework agreement with Bosch China. In the passenger vehicle sector, both parties will focus on joint R&D and innovation in next-generation intelligent mobility technologies, working together to enhance product intelligence and market competitiveness. In the commercial vehicle sector, they will continue to deepen existing cooperation and accelerate the transformation and upgrading of related businesses through new energy and intelligent technology deployment. Meanwhile, both parties will continue to deepen collaboration in industrial automation and jointly help BAIC expand into markets outside China, improving its international operations and service systems.

[Indonesia's New Regulation Cancels Full Tax Exemption for EVs, Allowing Local Governments to Determine Reduction Levels] The Indonesian government, through a new regulation recently implemented by the Ministry of Home Affairs, canceled the full exemption from motor vehicle tax and motor vehicle transfer fees previously enjoyed by battery EVs. According to Minister of Home Affairs Regulation No. 11 of 2026, EVs are no longer automatically exempt from the aforementioned taxes and fees, and instead, local governments will decide whether to grant reductions based on actual conditions.

[Hyundai Motor's Q1 Net Profit Down 23.6% YoY] Hyundai Motor Company said its Q1 2026 net profit fell 23.6% YoY, affected by US auto tariffs, rising raw material costs driven by geopolitical risks, and other factors. According to filings submitted to regulators, Hyundai Motor posted a net profit of 2.58 trillion won (approximately $1.7 billion) in the first three months of this year, down from 3.38 trillion won in the same period last year. Operating profit fell 30.8% YoY to 2.51 trillion won over the same period, while sales rose 3.4% YoY to 45.93 trillion won.