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The New Situation of Automobiles

Since 2023, the market of complete vehicle companies has developed rapidly. Among them, famous brands such as Polestar and Weilai have made large-scale actions.

1. Jixing and Xingji Meizu established a strategic joint ventureOn June 19, Polestar signed a strategic joint venture with technology company Xingji Meizu Group in China. The new strategic joint venture will further develop Flyme Auto, Xingji Meizu Group’s existing technology platform, to provide a seamless smart operating system for Polestar’s products for the Chinese market, including in-vehicle applications, streaming services, and smart car software . The system can be integrated and complemented with mobile phones, augmented reality smart terminals, and user service applications to create a borderless digital ecosystem.

2. NIO Receives USD 1.1 Billion Investment from Abu Dhabi Sovereign Fund
NIO has signed a share subscription agreement with CYVN Holdings, an investment institution under the Abu Dhabi government of the United Arab Emirates. In addition, CYVN has reached an agreement with an affiliate of Tencent (an existing shareholder of NIO). Weilai said that after the completion of the two transactions, CYVN will hold about 7% of the total issued shares of Weilai, and CYVN will have the right to nominate a director. NIO will jointly seek opportunities to develop international business after the closing of the investment transaction.

3. Fisker will open its first China delivery center in Shanghai this year
U.S. electric vehicle start-up Fisker will open its first delivery center in China this year in the country’s financial capital Shanghai. Fisker previously said it was preparing to enter the Chinese market later this year, an important market for its future growth. In addition, Fisker will begin deliveries of its first mass-produced SUV, the Fisker Ocean, in China in the first quarter of 2024, a move that could add 75,000 vehicles to the company’s annual production. Production will most likely be carried out at the company’s joint venture with Magna.

In addition to the changes in the vehicle industry, there have also been major changes in the supply chain demand. They are the cooperation between SinoHytec and TAM on the hydrogen fuel cell airport shuttle bus, the new energy vehicle assembly project of Dayang Electric Co., Ltd. settled in Chongqing, and Xindongli, a subsidiary of Sunwoda received a capital increase of 1.65 billion yuan.

Among which the most classic is the cooperation between Xiaopeng Motors and Midea Welling on electric compressors. Midea Welling Auto Parts will rely on its own advantages such as leading technology research and development, reliable product performance and sufficient production capacity to provide a variety of thermal management products including electric compressors for all models of Xiaopeng Motors. Multi-scenario cooling and heating efficient coordination and other aspects play a key role.