Gasgoo Daily: YANGWANG U7 model to hit market on March 27

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

YANGWANG U7 model to hit market on March 27

On March 13, BYD officially announced that the YANGWANG U7 model will hit the market on March 27 at 19:30. Positioned as a high-end new energy flagship sedan, the model was opened for pre-orders at the Auto Guangzhou 2024 and will be available in both BEV (battery electric vehicle) and PHEV (plug-in hybrid electric vehicle) versions.

SAIC Volkswagen's Teramont Pro goes on sale with introductory price starting at 269,900 yuan

On March 10, SAIC Volkswagen officially put the Teramont Pro onto the market, offering three trim levels priced between 309,900 yuan and 359,900 yuan. With a no-bargain starting price of 269,900 yuan, the new model is a mid-to-large SUV powered by the latest fifth-generation EA888 engine, featuring VTG (variable turbine geometry) technology for enhanced performance.

GAC Trumpchi unveils Xiangwang vehicle series

On March 7, GAC Trumpchi officially introduced its Xiangwang vehicle series, which includes several high-end models set to hit the market in 2025. The lineup features the Trumpchi Xiangwang S7, a premium mid-to-large intelligent SUV for elite families; the Trumpchi Xiangwang M8, a luxury smart MPV; and the 1 Concept, a next-generation flagship concept car.

ThunderSoft partners with Hyundai Motor, inaugurating joint lab

On March 11, Chinese software company ThunderSoft signed a strategic cooperation framework agreement with Hyundai Motor's Advanced Technology R&D Center and Hyundai Motor R&D Center in Shanghai. Concurrently, the unveiling ceremony for the Hyundai & ThunderSoft Joint Laboratory was held, marking a new phase in their collaboration on intelligent vehicle software development. 

WeRide launches paid Robotaxi services to-and-fro Beijing South Railway Station

On March 13, autonomous driving technology company WeRide announced that its Robotaxi fleet has been approved to offer paid autonomous ride-hailing services between Beijing Economic-Technological Development Area and Beijing South Railway Station.

Chinese tech firm Lens Technology plans Hong Kong listing to strengthen global expansion, market competitiveness

On March 12, Lens Technology Group ("Lens") announced its plans to issue H-shares outside the Chinese Mainland and seek a public listing on the Main Board of the Stock Exchange of Hong Kong Limited ("SEHK"). The move aims to enhance the company's global footprint, elevate its international brand image, and boost overall competitiveness.

XPENG starts delivering X9 MPVs in Thailand

Chinese new energy vehicle maker XPENG announced this week that on March 8, 2025, a shipment of 300 right-hand-drive XPENG X9 units arrived in Thailand from Nansha Port, Guangzhou city, with the official deliveries started in the country upon the arrival. This move further strengthens XPENG's product lineup in the Thai market.

Chinese automotive smart hardware supplier Kongxiang Technologies closes Series A financing

Chinese automotive supplier Kongxiang Automotive Technology (Shanghai) Co., Ltd. ("Kongxiang Technologies") announced earlier this month it had successfully closed a Series A funding round worth tens of millions of yuan.

EHang achieves first-ever adjusted annual net profit in 2024

On March 12, EHang, a leading Chinese autonomous aerial vehicle technology company, released its financial results for the fourth quarter (Q4) and full year of 2024. The company posted record annual revenue of RMB456.2 million, marking a 288.5% year-over-year spike. In the fourth quarter alone, its revenue reached RMB164.3 million, zooming up 190.2% from the same period in 2023.

GAC Energy, China Telecom Guangdong Branch step up cooperation to expand NEV charging, battery swapping network

On March 11, GAC Energy, a subsidiary of GAC Group, signed a strategic cooperation agreement with China Telecom Guangdong Branch at GAC Group's headquarters. Under the new partnership, GAC Energy and China Telecom Guangdong Branch will leverage their respective strengths in telecommunications and energy to deepen cooperation in six key areas: planning and construction of NEV charging and battery swapping stations, smart charging solutions and platform interconnectivity, integrated smart energy models, diversified NEV charging services, joint marketing, and brand collaboration.