[Ministry of Industry and Information Technology: further relaxing the entry threshold for New Energy vehicle Enterprises and products] on 7 April, the Ministry of Industry and Information Technology issued a circular on the revision of the regulations on the Management of access to New Energy vehicle Manufacturing Enterprises and products (draft for soliciting opinions). The revision of access management regulations will further reduce the entry threshold for new energy vehicle manufacturers and products.

[Geely's sales rose about 245 per cent in March from the previous month] on April 7, Geely released sales figures showing that Geely, including the LinkedIn brand, sold 73000 vehicles in March, up about 245 per cent from the previous month and down about 41 per cent from a year earlier. In the first quarter of this year, Geely sold 206000 vehicles, down 44 per cent from a year earlier and 15 per cent of the group's target of 1.41 million vehicles for the whole of 2020. Geely said that from January to February this year, Geely car market share of 7.3%, reached the best level in history. In terms of new energy vehicles, new energy and electrified products such as Gea, Dihao EV and Dihao GSe sold 2503 vehicles in March this year, bringing the total sales in the first quarter to 8924.

Tesla plans to expand its product line in China as early as this week, when it will launch a Model 3 sedan made in China with longer mileage, according to people familiar with the matter. [it is rumored that Tesla will launch a made-in-China version of the Model 3 starting at 350000 yuan this week, according to people familiar with the matter. The long-running Model 3 will travel more than 650km on a single charge, with a price of 350000 yuan before the discount, but the exact price has not yet been determined, according to the person familiar with the matter, who spoke on condition of anonymity.

[Weilai Automobile: 1533 cars delivered in March and 3838 vehicles delivered this year] on April 7, Weilai announced that it delivered 1533 cars in March, up 11.7 percent from the same period last year and 116.8 percent from the previous month. Among them, 1479 ES6 and 54 ES8, Weilai cars plan to start delivering the new ES8 in April 2020. As of March 31, 2020, the cumulative delivery of ES8 and ES6 was 35751, of which 3838 were delivered in the first quarter of 2020.

[time reduced to 1.5 hours Volvo is currently testing a new fast charger for electric cars] recently, Volvo is testing a new fast charger for electric vehicles that can reduce charging time to 1.5 hours. Fast chargers run six times faster than today's car-mounted equipment. Plug the electric vehicle into an ordinary 230 V single-phase household power outlet and charge for 8-10 hours, depending on the current available. Overnight charging is fine, but if you need to charge quickly between commutes every day, it takes too long.

Longji Machinery signed an investment cooperation framework agreement with Nanshi Group and Nanshi Lithium Power. Longji Machinery announced that with the sustainable development of new energy vehicles and battery technology, the speed at which new energy vehicles replace traditional fuel vehicles is accelerating. Combined with the development of the industry, the company intends to launch an investment layout in the new energy battery industry chain. After friendly negotiation, the company signed the Framework Agreement on Investment Cooperation with Nanshi Industrial Investment Group Co., Ltd. ("Nanshi Group") and Jiangxi Nanshi Lithium Power New material Co., Ltd. ("Nanshi Lithium Power") on April 5, 2020. The company intends to contribute to the establishment of a fund with new energy as the main investment direction (the name is to be determined, subject to the industrial and commercial registration information at the time of establishment, "New Energy Fund"), the total size of the fund does not exceed 400 million yuan, of which the company's contribution does not exceed 200 million yuan. Through the new energy fund, the company intends to invest in lithium power to assist the strategic development of lithium power.

Tesla is reportedly laying off contract workers at its car and battery factories in the United States, according to reports from three Tesla employees. Tesla is currently cutting contracts at its car production plant in Fremont, California, and at a battery superplant outside Reno, Nevada. People familiar with the matter estimate that the layoffs will have an impact on hundreds of workers. Over the weekend, the personnel agency to which the temporary staff belonged received a notice of dismissal from Tesla. Many contract workers have been working at Tesla for years and hope to become full-time employees of the company.

SMM Cobalt Lithium small Metal Research team

Hu Yan 021-51666809

Qin Jingjing 021-51666828

Mei Wangqin 021-51666759

Huo Yuan 021-51666898

Wuyang 021-51666818

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