Gasgoo Daily: GAC Group expands fully-owned fund to 1.16 billion yuan

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.

GAC Group expands fully-owned fund to 1.16 billion yuan

GAC Group announced on June 14 the board’s approval to expand the size of GAC Capital’s fully-owned fund, Guangdong Guangqi No.7 Equity Investment Partnership (Limited Partnership), from 500 million yuan to 1.16 billion yuan. The fund will be managed by GAC Capital’s wholly-owned subsidiary, Guangzhou Yingpeng Private Equity Fund Management Co., Ltd.

FAW-Volkswagen to recall imported Audi-branded electric vehicles in China

Starting June 15, 2024, FAW-Volkswagen will recall 251 units of the imported Audi e-tron GT and RS e-tron GT electric vehicles manufactured between July 26, 2022, and June 28, 2023. The recall addresses a potential short circuit in the high-voltage battery modules, which, in extreme cases, could lead to thermal runaway and pose a fire risk.

2024 Wuling Binguo hits market, starting at 56,800 yuan

SAIC-GM-Wuling has officially put the 2024 Wuling Binguo onto the market. The new model features upgrades to its exterior, interior, electric system, and driving experience. Four variants of the vehicle are available, with prices ranging from 56,800 yuan to 84,800 yuan.

QCraft nabs hundreds of millions of yuan in Series C funding round

On June 14, advanced intelligent driving solutions provider QCraft announced the completion of its Series C funding round, securing several hundred million yuan. The investment was jointly led by Zhongguancun Science City and Cuihu Capital.

DEEPAL G318 rugged off-road SUV hits market, starting at 175,900 yuan

On June 13, Changan Automobile's new energy vehicle brand, DEEPAL, officially put the DEEPAL G318 hard-core electric SUV onto the market. The new model comes in six variants, priced between 175,900 yuan and 318,000 yuan.

KargoBot launches L4 autonomous truck convoy on key Ordos freight route

On June 13, KargoBot, DiDi's autonomous truck solution developer, commenced Level-4 autonomous convoy demonstration operations on a major commodity transport route from a coal mine in Ordos to a power plant in Kangbashi District in Inner Mongolia.

NETA Auto, CATL, 360 Security Technology, LynkVertx team up on V2G pilot project

On June 13th, NETA Auto, CATL, 360 Security Technology Inc., and LynkVertx signed a strategic cooperation agreement for the "V2G (Vehicle-to-Grid) Smart Energy Demonstration Project" at NETA Auto's Tongxiang Full-Ecosystem Smart Factory, according to a post on NETA Auto's WeChat account.

Xiaomi EV hits delivery milestone of 20,000 SU7 cars

Xiaomi EV announced this week that as of June 13, the cumulative delivery volume of its SU7 model has surpassed 20,000 units.

Tencent, GAC Group enhance strategic partnership for next-gen cloud innovations

On June 13, Tencent and GAC Group announced a comprehensive upgrade to their strategic partnership. Moving forward, both companies will collaborate to develop next-generation hybrid cloud infrastructure to bolster GAC Group’s advancements in intelligent driving, smart cockpits, enterprise digitalization, and global market expansion.