Gasgoo Daily: HOZON New Energy targets up to 4.5 billion yuan in Series E funding

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.

HOZON New Energy targets up to 4.5 billion yuan in Series E funding

On January 24, HOZON New Energy Automobile Co., Ltd., the parent company of NETA Auto, held a shareholder meeting to discuss its ongoing Series E funding round. The company aims to raise 4 billion to 4.5 billion yuan, with a lead investor expected to contribute around 3 billion yuan. During the meeting, the company also outlined its operational development plans for the next three years.

SAIC Motor files trademark application for 'Shangjie'

According to the business data platform Tianyancha, SAIC Motor recently filed trademark applications for "Shangjie" (name in Chinese Pinyin) and other related terms. The trademarks are currently awaiting substantive review. Amid speculation about a potential partnership between SAIC Motor and Huawei, industry analysts believe "Shangjie" could represent the name of a new co-branded venture. As of 4 PM on January 26, neither SAIC Motor nor Huawei has issued an official statement regarding the purpose of the trademark applications.

ONVO's second model goes into production validation stage

NIO's sub-brand ONVO announced that its second model has entered the TT (Tooling Trial) stage, which involves full-process production validation under pre-mass-production control plans. The new model, a six- or seven-seat flagship SUV, is expected to hit the market in the third quarter of this year.

Senior Auto wins bid for autonomous driving project at Weihai Port, Shandong Province

Chinese autonomous trucking solution developer Senior Auto has been announced as the winning candidate for the autonomous driving technology development and procurement project for roll-on/roll-off (RoRo) ships at Weihai Port in Shandong Province, according to the company's announcement on Jan. 27. 

SERES gains approval for asset purchase to acquire super factory ownership

On January 21, Chinese automaker SERES Group announced that the Shanghai Stock Exchange's Merger and Acquisition Review Committee had approved its plan to acquire Longsheng New Energy Technology Co., Ltd. The major asset restructuring was accepted in November 2024 and entered the inquiry stage in December. 

SERES partners with Beihang University on industry-academia research integration

On January 26, Chinese automaker SERES Group signed a strategic cooperation framework agreement with Beihang University, the automaker announced on the same day.

China's vehicle inventory alert index in Jan. 2025 grows both YoY, MoM

The China Automobile Dealers Association ("CADA") recently released the latest "China Automobile Dealers Inventory Alert Index" (VIA), showing that in January 2025, the VIA for Chinese automobile dealers reached 62.3%, representing a year-on-year growth of 2.4 percentage points and a month-on-month jump of 12.1 percentage points.

Xiaomi EV so far delivers over 150,000 SU7 vehicles

On Jan. 26, 2025, Lei Jun, Xiaomi's Founder, Chairman, and CEO, confirmed that cumulative deliveries of the Xiaomi SU7 model have already surpassed 150,000 units.