Gasgoo Daily: NIO's ONVO L60 model to hit market in late Sept.

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.

NIO's ONVO L60 model to hit market in late Sept.

During a live-streamed extreme heat test event for the ONVO L60 in Turpan on July 25, Ai Tiecheng, CEO of ONVO (a fresh sub-brand under NIO) said that the ONVO L60 model will officially hit the market in late September this year. The vehicle is set to begin deliveries within a week upon its market launch.

ONVO L60; photo credit: NIO

NIO will not pursue Robotaxi development: NIO's chairman

NIO's Chairman and CEO, William Bin Li, recently said during an interview that NIO will not be venturing into the development of autonomous taxis (Robotaxis).

Mr. Li explained that NIO has been deeply contemplating the R&D of assisted driving technology since 2017, focusing on its core value of enhancing driving safety and reducing traffic accidents. He stressed that the true significance of autonomous driving technology lies not in replacing professional drivers but in using technology to alleviate driver fatigue and improve road safety. This approach underscores NIO's commitment to leveraging advanced technology to support and protect drivers, rather than aiming to eliminate the need for human drivers altogether.

China's auto electronics suppliers New Vision closes new round of strategic financing

Recently, Chinese automotive electronics New Vision announced the completion of a new round of strategic financing. This round was led by ZhongQing Capital, with participation from existing investor Bridge Capital. StarBridge Capital continued to serve as the sole financial advisor for this financing round.

New Vision is dedicated to the development of in-car visual solutions, offering a range of intelligent cockpit products including W-HUD (Windshield Head-Up Display), AR-HUD (Augmented Reality Head-Up Display), CMS (Camera Monitoring System), transparent A-pillars, and transparent window displays.

SGMW releases interior images of Baojun Yunhai SUV model

On July 30, Baojun, a brand under SAIC-GM-Wuling ("SGMW") officially released additional product configuration details and interior images of its fire new intelligent long-range SUV, the Baojun Yunhai (translating to "sea of clouds").

CATL's net profit in H1 2024 rises YoY despite drop in revenue

In the first half of 2024, Chinese power battery giant CATL achieved a revenue of 166.767 billion yuan, representing an 11.88% year-on-year dip, according to its semi-annual financial results issued a few days ago. Despite this, the company reported a net profit attributable to shareholders of 22.865 billion yuan, marking a 10.37% increase. The basic earnings per share stood at 5.2017 yuan during this period.

BYD drops prices by 50,000 yuan across FANGCHENGBAO's lineup

On July 29, BYD's sub-brand FANGCHENGBAO announced a refreshed strategic plan to mark its first anniversary. Central to this announcement was the introduction of new pricing for the BAO 5 model, now ranging from 239,800 yuan to 302,800 yuan.

SVOLT expects to deliver 100,000 sets of 2nd-gen short-blade fast-charging iron lithium cells in 2024

SVOLT recently announced that its second-generation short-blade fast-charging iron lithium cells have completed mass delivery to customers from its Shangrao and Yancheng bases, with an expected total delivery volume of 100,000 sets this year.

Joyson Electronics' net profit surges 61.47% YoY in H1 2024

On July 29, Joyson Electronics released its financial report for the first half of 2024 (H1 2024), showcasing significant improvement in profitability. The company achieved a net profit of 640 million yuan, which leapt 61.47% year on year, while operating profit surged 60.94% from the previous year to 1.139 billion yuan.

New-generation JETOUR X70 PLUS hits market, starting at 111,900 yuan

On July 29, Chery's JETOUR brand officially put the new-generation X70 PLUS onto the market, offering six variants with an official price range of 111,900 yuan to 137,900 yuan. With the old-for-new policy, the new model’s prices drop to 76,900 yuan to 102,900 yuan (including the national trade-in subsidy).

Skyworth Auto launches cooperation on NEV, AI businesses in Thailand

On July 25, Chinese new energy vehicle maker Skyworth Auto officially commenced its new energy vehicle (NEV) collaboration in Thailand, partnering with Thailand's Professional Association Public Taxi Motorist, Japan's Sunlight Capital Co., Ltd., Wind God Automobile Co., Ltd., and Westpac Trust Bank, according to a post on Skyworth Auto's WeChat.