Gasgoo Daily: YANGWANG U7 set to hit market in late March

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 set to hit market in late March

BYD's premium brand YANGWANG has officially announced that its YANGWANG U7 model will go on sale on March 27. Positioned as a high-end new energy flagship sedan, the U7 will be the brand's third model following the rugged off-road SUV YANGWANG U8 and the high-performance electric supercar YANGWANG U9.

Fuyao Glass reports 18.37% YoY jump in 2024 annual revenue

On March 18, Fuyao Glass Industry Group released its annual financial report, revealing another year of robust growth. In 2024, the company achieved revenue of approximately 39.25 billion yuan, an 18.37% increase year-over-year. Net profit attributable to shareholders surged 33.2% from a year earlier to 7.5 billion yuan.

NETA Auto secures THB 10 billion of credit line to boost Thai expansion

On March 20, NETA Auto hosted its 2025 Thailand Dealer Conference in Bangkok, where the automaker announced a strategic financial partnership with NLTH. It also secured a THB 10 billion credit line from the latter, which will support both wholesale and retail operations of NETA Auto in Thailand.

Geely Auto Group launches Coolray SUV model in Vietnamese market

On March 21, Geely Auto Group officially launched the Coolray SUV in Vietnam, marking a key step in its expansion within the ASEAN market.

Tesla's Shanghai Megafactory exports first batch of Megapacks to Australia

On March 21, Tesla's Shanghai Megafactory completed its first export shipment of Megapack energy storage systems, with the initial batch destined for Australia. Moving forward, Megapacks produced at the Shanghai facility will be supplied to both domestic and Asia-Pacific markets.

UAM tech company EHang secures 2-billion-yuan credit line from Bank of Guangzhou

On March 21, urban air mobility (UAM) technology company EHang announced a strategic partnership with Bank of Guangzhou, securing an intentional credit line of 2 billion yuan. The collaboration aims to leverage both parties' strengths to drive the development of the low-altitude economy.

Changan Automobile eyes expansion into at least 10 European markets by 2025

On March 21, Changan Automobile successfully held its 2025 Changan Europe Brand Event in Germany under the theme "Sharing the Future". The event showcased nine new models across its three major brands—CHANGAN, DEEPAL, and AVATR—while outlining its strategic roadmap for the European market expansion. 

BYD Qin L EV hits market, starting at 119,800 yuan

On March 23, 2025, BYD's Dynasty Series officially put its latest all-electric sedan, the Qin L EV, onto the market, offering three trim levels with prices ranging from 119,800 yuan to 139,800 yuan.

BYD's DENZA begins selling flagship SUV DENZA N9, starting at 389,800 yuan

On March 21, DENZA, one of BYD's premium vehicle brand, put its latest flagship SUV, the DENZA N9, onto the market, introducing two variants priced between 389,800 yuan and 449,800 yuan. The model debuts with a PHEV (plug-in hybrid electric vehicle) version, while a BEV (battery electric vehicle) variant is set to follow.

CATL, Zenith Steel team up to advance zero-carbon steel industry

On March 20, CATL signed a strategic cooperation agreement with Zenith Steel Group Company Limited ("Zenith Steel") in Changzhou, Jiangsu, according to CATL's press release. The two companies will collaborate in areas such as clean energy, green logistics, and resource recycling, jointly exploring pathways for achieving a zero-carbon steel industry.

RoboSense partners with EACON to advance autonomous mining solution application

LiDAR company RoboSense recently announced a strategic partnership with autonomous mining solution developer EACON to accelerate the deployment of advanced autonomous driving solutions in mining operations. Leveraging their respective strengths and expertise, the two companies aim to enhance mining productivity and drive the global expansion of unmanned mining trucks. 

Seyond, Inceptio Technology deepen partnership for next-gen autonomous trucking

In March, ultra-long-range image-grade LiDAR company Seyond and commercial vehicle autonomous driving specialist Inceptio Technology announced an expansion of their strategic partnership. Based on the success of previous collaborations, the two companies will jointly develop and mass-produce next-generation intelligent driving systems, Seyond announced on WeChat on March 21.

Horizon Robotics reports YoY surge of 53.6% in 2024 annual revenue

On March 21, Horizon Robotics released its 2024 financial report, showing annual revenue of 2.384 billion yuan, representing a year-on-year surge of 53.6%.