Domestic news
State-owned Assets Supervision and Administration Commission: It is planning a new round of deepening the reform of state-owned assets and state-owned enterprises around improving the core competitiveness of enterprises and enhancing core functions
On January 17, Peng Huagang, Secretary-General and Spokesperson of the State-owned Assets Supervision and Administration Commission of the State Council, introduced that the State-owned Assets Supervision and Administration Commission is planning a new round of deepening the reform of state-owned assets and state-owned enterprises around improving the core competitiveness of enterprises and enhancing core functions. On the basis of consolidating and deepening the achievements of the three-year action, we should improve modern corporate governance with Chinese characteristics, improve the vitality and efficiency of enterprises, build a number of innovative state-owned enterprises, accelerate the construction of world-class enterprises, and better play the supporting role of the state-owned economy.
The Ministry of Industry and Information Technology and other six departments issued the "Guiding Opinions on Promoting the Development of the Energy Electronics Industry" On January 17, the Ministry of Industry and Information Technology and other six departments issued the "Guiding Opinions on Promoting the Development of the Energy Electronics Industry". It is proposed to strengthen the development and application of key information technology products in the field of new energy, mainly including power electronics, sensor IoT, smart energy information system and related advanced computing, industrial software, industrial robots and other adaptive technologies and products that meet the needs of new energy; Adopt distributed energy storage, "photovoltaic + energy storage" and other modes to promote the diversification of energy supply, and improve the application level of energy electronic products in new infrastructure fields such as 5G base stations and new energy vehicle charging piles; Promote the coordinated development of the entire industrial chain and put the promotion of new energy development in a more prominent position.
Shanghai: Support a new generation of information technology, high-end equipment and other industries to build a production base in Lu'an
On January 17, the Shanghai Municipal Government and the Anhui Provincial Government issued a notice on the Implementation Plan for Counterpart Cooperation between Shanghai and Lu'an (2023-2025). Among them, it is proposed to support Lu'an to undertake industrial transfer around the industrial chain of new energy vehicle enterprises and the industrial chain of new chemical materials, and build a supporting base for intelligent electric vehicle industry and a production base for new chemical materials. Support Shanghai's new generation of information technology, high-end equipment, biomedicine and other industries to build production bases in Lu'an, and drive Lu'an enterprises to enter Shanghai's industrial chain and supply chain.
China Association of Automobile Manufacturers: Fixed asset investment in automobile manufacturing industry increased by 12.6% year-on-year in 2022
According to data from the National Bureau of Statistics compiled by the China Association of Automobile Manufacturers, in 2022, fixed asset investment in the automobile manufacturing industry increased by 12.6% year-on-year, 7.5 percentage points higher than the national fixed asset investment and 3.5 percentage points higher than the manufacturing fixed asset investment.
International news
Indonesia may reach electric vehicle deals with BYD Group and Tesla
On Jan. 17, Indonesia's senior cabinet minister said Indonesia was finalizing agreements with Chinese automaker BYD Group and U.S. automaker Tesla to invest in electric vehicle production facilities. Indonesia is actively promoting domestic investment in batteries and electric vehicles to take advantage of its abundant nickel resources. In addition, Indonesia's Coordinating Minister for Marine and Investment said that by 2026, US$30.9 billion is expected to be invested in the development of electric vehicle battery ecosystem related projects in Indonesia.
Sales of Renault's flagship brand fell for the fourth consecutive year
On January 17, French automaker Renault said sales of its flagship brand fell for the fourth consecutive year in 2022 to 1466729 units, down 9.4% from 2021. In addition, the company's global market share was 4%, shrinking 0.5 percentage points from the same period last year.
Japan's machine tool orders in 2022 increased by 14%, the second highest in history
According to data released by the Japan Machine Tool Industry Association, the order volume of machine tools in December 2022 increased by 1.0% over the same month of the previous year, reaching 140.5 billion yen. For the full year 2022, orders increased by 14.2% y/y to 1.7596 trillion yen. The second highest level in history after 2018. Demand for machinery in cutting-edge industries such as electric vehicles (EVs) and aircraft was firm, with external demand rising 11.6% to JPY 98.2 billion.
Volkswagen: Expanding its electrified vehicle lineup in China over the next two years
On January 17, Ralf Brandstaetter, head of Volkswagen's business in China, said that China's passenger car market will grow by 4%-5% to 23 million units in 2023. Volkswagen will expand its electric vehicle lineup in China over the next two years, introducing Audi Q4 e-tron and ID.7 sedan models. Volkswagen said electric vehicle sales accounted for a quarter of total deliveries in 2022 and expect to exceed 30 percent in 2023.
Corporate News
Xpeng Motors: On January 17, the G3i/P5/P7 new year price system will be launched
On January 17, Xpeng Motors officially announced that it would adjust its selling price, reducing the overall price by 20,000-36,000 yuan. Among them, the price of Xpeng P5 decreased from 179,900-225,900 yuan to 156,900-202,900 yuan; the price of Xpeng P7 decreased from 239,900-285,900 yuan to 209,900-249,900 yuan; and the price of Xpeng G3i dropped from 168,900-201,900 yuan to 148,900-176,900 yuan. At the same time, the first owners who ordered the G3i/P5/P7 within one year before the announcement will give the Chinese New Year reward.
Geely and Renault sought to bring in Saudi Aramco to participate in the joint venture
Geely Automobile and Renault Motors are working to finalize an agreement to bring in Saudi Aramco as an investor and partner to jointly develop and supply gasoline engines and hybrid technology, three people familiar with the matter said. Saudi Aramco has been involved in in-depth discussions to acquire up to 20 percent of Geely-Renault's upcoming powertrain technology company. Geely and Renault have previously announced they will jointly form the company, but have not yet revealed the name of the company.
BMW Brilliance Automotive Co., Ltd. recalls 172,000 5 Series vehicles: On January 17, BMW Brilliance Automotive Co., Ltd. filed a recall plan with the State Administration for Market Regulation (SAMR) to recall some domestically produced 5 Series vehicles manufactured from September 2, 2019 to December 26, 2020, with a total of 171828 units. Due to software problems in vehicles covered by this recall, the instrument cluster screen may be black, and necessary vehicle information (such as vehicle speed, etc.) may not be displayed, which may pose a potential safety hazard.
Nezha Automobile invested in the establishment of Extended Range Technology Company with a registered capital of 40 million yuan
Tianyancha App shows that recently, Haozhi Extended Range Technology (Anhui) Co., Ltd. was established, the legal representative is Peng Qingfeng, with a registered capital of 40 million yuan. The company's business scope includes auto parts research and development; Electronic components and electromechanical components equipment manufacturing; AI application software development; gear and gear reduction, gearbox manufacturing; Micro motor and component manufacturing, etc. Shareholder information shows that the company is wholly owned by United New Energy Automobile Co., Ltd., an affiliate of Nezha Automobile.
Sino-British Technology: It is planned to invest 800 million yuan in precision electronics, automobiles, and new energy special materials projects
On January 17, Sino-British Technology announced that the company plans to invest in the construction of "precision electronics, automobiles, new energy special materials" project in Bengbu Wuhe County, with a total investment of 800 million yuan. The company will establish a subsidiary in the location of the project to be responsible for the specific implementation of the project, and the registered capital of the subsidiary shall not be less than 50 million yuan.
Racing Tires: It plans to invest 833 million yuan in off-highway tire technology transformation projects
On January 17, Sailun Tire announced that it intends to carry out technical transformation and adjust the product structure of the off-highway tire project in Qingdao, adjust the specifications of off-highway tires below 49 inches to specifications above 49 inches (including 49 inches), and relocate or dispose of some of the original off-highway tire equipment of Qingdao plant, with a total investment of 833 million yuan.
Tongda Power: There have been no new changes in the company's cooperation with BYD
On January 17, Tongda Power announced the announcement of stock price changes, from January to September 2022, the total sales amount of the company's new energy vehicle drive motor core was 234.23 million yuan, accounting for 17.25% of the company's operating income, of which BYD's revenue accounted for 7.75% of the company's operating income.
Text: Zhao Qiong Editor/Layout: Liu Xiaoye
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