Gasgoo Daily: Horizon Robotics approved by CSRC for Hong Kong IPO

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.

Horizon Robotics approved by CSRC for Hong Kong IPO

Horizon Robotics, a smart driving solution provider, has received approval from the China Securities Regulatory Commission (CSRC) for an IPO on the Hong Kong Stock Exchange. The company plans to issue up to 1.153 billion shares.

SAIC-GM announces executive leadership changes

SAIC-GM today announced significant changes in its executive team. Lu Xiao, former Executive Vice President of PATAC, will succeed Zhuang Jingxiong as General Manager of SAIC-GM. Wang Conghe, previously Vice President of PATAC, will now serve as Executive Vice President. Cai Bin, former Assistant to the President of SAIC Motor, returns to SAIC-GM as Party Secretary. Additionally, Xue Haitao, formerly Vice President of SAIC-GM-Wuling, will replace Lu Yi as Vice President of SAIC-GM, overseeing marketing operations.

DENZA Z9GT to start presales on August 20

DENZA, the high-end brand majority-owned by BYD, will hold a presale event for its Z9GT luxury flagship model on August 20. The D-segment GT offers impressive performance, with a 0-100 km/h acceleration in around 3 seconds.

ECARX posts 31% YoY revenue surge in Q2 2024

Beijing (Gasgoo)- ECARX, the Geely-associated smart mobility company, on August 8 released its financial results for the second quarter of 2024 (Q2 2024), reporting a revenue of 1.258 billion yuan, marking a 31% year-on-year surge. The company's gross profit margin for the quarter stood at 23%.

China’s power battery installed capacity in July edges down MoM, but jumps YoY

In July, China's power battery installed capacity reached 41.6 GWh, reflecting a 2.9% month-on-month decline but a 29% year-on-year jump, according to data by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA).

NEV sales, auto exports drive China’s auto market in July 2024

In July, China's auto market entered its traditional off-season, with some car manufacturers taking high-temperature breaks, leading to a slowdown in production and sales. The overall market performance was relatively subdued, with both month-on-month and year-on-year declines. Notably, the production and sales of passenger cars and commercial vehicles saw decreases both on a monthly and yearly basis, while new energy vehicles (NEVs) and auto exports continued to register strong year-on-year growth.

Chery Tiggo 8L hits market, starting at 129,900 yuan

On August 8, Chery Auto officially launched its flagship SUV, the Tiggo 8L, which is priced between 129,900 yuan and 174,900 yuan.

BYD Yuan UP full-electric SUV hits Colombian market

BYD recently put its pure electric SUV, the Yuan UP, onto the Colombian market, according to a post on BYD's WeChat official account.