KGM Signs USD 75 Million Investment Agreement With China’s Chery Automobile

Recently, the national headquarters project of Jiefang Times New Energy Technology Co., Ltd. was officially established in the Tianjin Port Free Trade Zone. As an innovative platform co-created by three industry giants—FAW Jiefang, CATL, and Tgood—for full-lifecycle services of new energy commercial vehicles, Jiefang Times will use Tianjin as its strategic hub to accelerate the deep transformation of the commercial vehicle industry toward green, electric, and intelligent development. Alongside the establishment of the headquarters, Jiefang Times' business expansion is also progressing rapidly. The company aims to achieve total assets exceeding 5 billion yuan and operating revenue reaching 1 billion yuan in 2026, serving as a key pillar for FAW Jiefang's new energy commercial vehicle leasing business.

On August 1, the mandatory implementation of China Compulsory Certification (CCC certification) for electric vehicle power supply equipment, as mandated by the State Administration for Market Regulation (SAMR) and the Certification and Accreditation Administration (CNCA), took effect. It is understood that on December 16, 2024, SAMR issued the "Announcement on Implementing CCC Certification Management for Electric Vehicle Power Supply Equipment," officially incorporating EV charging piles into the CCC certification scope. The products covered by this mandatory certification include: power supply equipment with a rated output voltage not exceeding 1,000V AC, providing AC power to onboard EV chargers; and power supply equipment with a rated output voltage not exceeding 1,500V DC, providing DC power to EV rechargeable energy storage systems.

[Chery Group July Sales: 277,000 Units, Up 23.3% YoY] Chery Group announced that in July 2026, the group sold 276,820 vehicles, up 23.3% YoY. Of the total, exports reached 202,533 units, up 70.1% YoY, making it the first Chinese automaker to exceed 200,000 units in monthly exports. In July, the group sold 129,067 NEVs, up 97.5% YoY. From January to July, Chery Group's cumulative vehicle sales reached 1,634,353 units, up 10.1% YoY. Of the cumulative total, exports came to 1,146,350 units, up 71.2% YoY, and cumulative NEV sales were 604,305 units, up 42.3% YoY.