Tesla Q2's income in China increased by 102.9% compared with the same period last year * Chongqing New Energy vehicles were exempted from purchase tax and extended.

[Guangdong has issued a new policy to encourage foreign investors to invest in new energy vehicles] recently, the Guangdong provincial government issued a number of measures for Guangdong Province to further stabilize foreign investment, proposing to implement the policy of expanding market access for foreign investment. We will fully implement the management system of national treatment plus negative list before the entry of foreign investment, encourage foreign investment in the field of new energy vehicles, and relax the restrictions on the ratio of foreign investment shares in commercial vehicle manufacturing. Foreign parties that support Sino-foreign joint venture passenger car enterprises transfer the average fuel consumption and new energy vehicle points in accordance with the regulations. For foreign-funded headquarters enterprises that contribute more than 100 million yuan for the first time in the provincial financial year, the provincial finance shall give an one-time reward of 30% of their contribution to the provincial finance in that year, with a maximum reward of 100 million yuan.

[Chongqing New Energy vehicle tax exemption extended until the end of 2022] on July 28, the Chongqing Development and Reform Commission issued a number of measures on stabilizing and expanding automobile consumption (hereinafter referred to as "measures"). The measure points out that the period of validity of the vehicle purchase tax exemption policy for new energy vehicles will be extended to December 31, 2022.

[Tesla Q2's income in China reached US $1.4 billion, a year-on-year increase of 102.9%. According to Tesla's filing with the US Securities and Exchange Commission (SEC) on July 28, Tesla's sales revenue in the Chinese market reached US $1.4 billion in the second quarter of this year, an increase of 102.9% over the same period last year. China continues to be Tesla's second largest sales market in the world after the United States, accounting for 23.19% of the total revenue.

[Tesla's success brings pressure Hyundai launched an electric car offensive] it is reported that Hyundai, which has been paying attention to hydrogen-fueled vehicles, is also preparing to launch an electric car offensive after witnessing the rise of Tesla's electric vehicles. Hyundai plans to launch a production line next year and 2024 to produce electric cars, according to a notice from the union within Hyundai. Hyundai has said it is working with South Korean battery suppliers to efficiently "increase" the production of electric vehicles. This series of actions means that Hyundai has taken strong action to expand the production capacity of electric vehicles. On July 14, Zheng Yixuan also announced that Hyundai plans to sell 1 million electric cars in 2025, grabbing more than 10 per cent of the global market share.

[two ministries and commissions: the proportion of new energy public transportation in key areas such as Beijing, Tianjin and Hebei is not less than 60%] on July 24, the Ministry of Communications and the National Development and Reform Commission issued the Action Plan for the creation of Green Travel. The plan points out that the public should be guided to give priority to green travel modes such as public transport, walking and bicycles, reduce the total amount of car traffic, and improve the level of green travel in China's cities as a whole. By 2022, the proportion of green travel in more than 60% of the established cities will be more than 70%, and the satisfaction rate of green travel services will not be less than 80%. The creation of a public transport city will promote the creation of green travel into the creation of a public transport city.

[Daimler and Renault may deepen cooperation to share more electric vehicle technology] it is reported that Daimler may deepen its cooperation with Renault, and the two sides are likely to share more electric vehicle technology. Last year Daimler announced that its next generation of Mercedes-Benz Citan vans would be fully electric. The Pure Electric Citan will use Renault-Nissan technology and will be based on Renault Kangoo models. Daimler CEO Corinson (Ola Kallenius) said the company would continue to explore possible areas of cooperation with Renault, including electric vehicles. "as long as both sides can profit from it, we will be open to new projects," Mr Kang told shareholders at the company's annual meeting. " At the meeting, he also cited the pure electric version of Citan as an example.

[successive losses * ST Jiangte plans to sell its lithium battery assets] recently, * ST Jiangte announced that the company intends to transfer its 97.4528% stake in Jiangxi Jiangte Lithium Battery Materials Co., Ltd for 98.7271 million yuan. It is reported that this is the second recent asset sale of * ST Jiangte. After two consecutive years of losses in 2018 and 2019, * ST Jant is planning to sell assets in an effort to "preserve its shell". It is worth mentioning that due to the adjustment of the subsidy policy for new energy vehicles and the postponement of subsidy funds, the new energy vehicle industry continues to occupy * ST Jiangte funds, and the company's automobile business continues to lose money and is difficult to improve in the short term. * ST Jiangte decided to withdraw from the automobile industry in 2019 and completed the transfer of its 100% equity stake in Kowloon Motor Co.

SMM Cobalt Lithium small Metal Research team

Hu Yan 021-51666809

Qin Jingjing 021-51666828

Mei Wangqin 021-51666759

Huo Yuan 021-51666898

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