1. The regulatory authorities regulate new energy vehicle insurance
Recently, the Property and Insurance Department of the State Administration of Financial Supervision and Administration issued the "Notice on Effectively Doing a Good Job in the Underwriting of New Energy Vehicle Insurance" to the Property Insurance Supervision Department of the Supervision Bureaus and the relevant property insurance companies, requiring all property insurance companies to improve their political positions and strengthen their responsibilities. In terms of underwriting, the "Notice" reiterates that compulsory traffic insurance shall not be denied, and commercial insurance is willing to be fully insured. All property and casualty insurance companies shall do a good job in the compulsory traffic insurance underwriting services for new energy vehicles in strict accordance with the law, and shall not refuse or delay the underwriting of compulsory traffic insurance, and shall not require the policyholder to sign a commercial insurance contract or put forward other additional conditions when signing a compulsory traffic insurance contract.
The Notice requires property and casualty insurers to conduct a comprehensive investigation and rectification and remove unreasonable underwriting restrictions. Specifically, property and casualty insurance companies shall carry out a comprehensive review of the underwriting policies and assessment indicators of new energy vehicle insurance in the system, and shall not adopt unreasonable restrictive underwriting measures such as "one-size-fits-all" for specific new energy vehicles in terms of system control and underwriting policies, and adjust the unreasonable assessment targets set for new energy vehicle insurance. In terms of supervision, the "Circular" requires that market supervision should be strengthened and investigated and dealt with quickly and strictly. In the future, the property and insurance departments of the regulatory bureaus will strengthen market monitoring, timely solve the problem of difficulty in renewing the insurance of new energy vehicles reported by consumers, and at the same time seriously deal with insurance institutions and relevant responsible persons who refuse insurance in violation of regulations in accordance with the law.
2. Chinese automakers have won nearly half of Russia's market share
According to public data, in 2023, the Russian auto market will sell a total of 1,058,700 new cars, a year-on-year increase of 69%. Among them, the sales of Chinese brand cars in Russia exceeded 500,000 for the first time, reaching 553,000 units, and the market share soared to 49%. Two years ago, the market share of Chinese brand cars in Russia was only 9%, and in 2022 this figure increased to 19%.
After the conflict between Russia and Ukraine, a number of multinational car companies and parts giants have left Russia, and after the withdrawal of car companies from Europe, America, Japan and South Korea, the market gap left by Chinese car companies was quickly filled. According to a market survey released by a large Russian commercial bank, a total of 30 Chinese auto brands will officially enter the Russian market in 2023. In 2023, in the top 10 of the Russian car (passenger car) market sales ranking, Chinese car brands occupy six places from second to seventh.
3. The European Commission approved the establishment of a joint venture between Mercedes-Benz and BMW
The European Commission announced that it has approved the establishment of a joint venture between Mercedes-Benz (China) Investment Co., Ltd. and BMW Brilliance Automotive Co., Ltd. in accordance with the EU Merger Regulation. The transaction is primarily related to the Chinese market for public charging infrastructure for battery-powered vehicles. The Commission concluded that, given the limited impact on the EEA, the transaction in question would not raise competition concerns and that the transaction was reviewed under a simplified merger review procedure. On November 30, 2023, Mercedes-Benz (China) Investment Co., Ltd. and BMW Brilliance Automotive Ltd. announced that they have signed a cooperation agreement to establish a 50:50 joint venture in China to operate a supercharging network in the domestic market.
According to the plan, by the end of 2026, the joint venture plans to build at least 1,000 state-of-the-art supercharging stations and about 7,000 supercharging piles in China. The first batch of charging stations is planned to start operation in key new energy vehicle cities in China from 2024, and the subsequent construction of charging stations will cover other cities and regions across the country. The joint venture's charging network will be open to the public, and customers of both companies will be able to enjoy exclusive services such as plug and charge, online booking and a seamless digital charging experience.
4. Porsche's all-electric Macan makes its world debut
Porsche's all-new all-electric Macan has its world premiere, with the starting prices of the Macan 4 and Macan Turbo starting at RMB 577,400 and RMB 768,000 respectively in overseas markets. Since it will take some time for the domestic 3C certification, the car is scheduled to be officially launched during the Beijing Auto Show, and reservations have been opened in the domestic market. The exterior of the new car largely follows the design lines of the current petrol version, but the two cars differ in the details of the light clusters, with the Macan 4 sharing a light strip for daytime running lights and turn signals, while the Macan Turbo has a layered design at the top and bottom.
The biggest change at the rear is that the fixed spoiler of the petrol variant is hidden under the rear windshield and replaced with an electrically adjustable rear spoiler. Inside, the T-zone of the centre console is closer to the Taycan, and the Macan 4 model does not have a passenger screen, which may be an option in the future. It is powered by the latest generation of permanent magnet synchronous motors, with a maximum power of 300 kW and 470 kW, a maximum torque of 650 Nm and 1,130 Nm, respectively, and a range of 613 km and 591 km in WLTP mode.
5. Volkswagen Group will launch 30 BEVs in China
At the Volkswagen Group China New Year's media conference held last week, Volkswagen Group China officially announced its 2030 goals. The Volkswagen Group said that although the domestic market environment in 2023 was challenging, the Volkswagen Group delivered 3.236 million vehicles in China, a year-on-year increase of 1.6%. In 2024, the Volkswagen Group will be committed to accelerating its transformation and continuing to lead the market in the era of intelligent and connected vehicles.
In terms of products, the company will accelerate its BEV product offensive by offering 30 locally produced gasoline and hybrid models by 2027, and at least 30 BEV models in the Chinese market by 2030. In addition to the above goals, the Volkswagen Group will continue to strengthen its dominant position in the ICE vehicle market, and all major ICE vehicle products will be upgraded with high-end technology in the coming years, and innovative technologies will continue to be introduced to improve the intelligence level of products. In addition, Volkswagen will continue to enrich its product line of combustion engine vehicles and gradually promote the application of hybrid technology to realize the transition to new energy sources.
6. Xpeng and Volkswagen will jointly produce two B-segment cars
At the Volkswagen Group (China) New Year's media conference, Volkswagen Group (China) Chairman and CEO Braid Braid announced that Volkswagen and Xpeng Motors will cooperate to produce two B-segment cars this year. Subsequently, Braid also connected with He Xiaopeng, chairman of Xpeng Motors.
He Xiaopeng said at the event: At present, the cooperation between Xpeng Motors and Volkswagen China is very efficient. With this cooperation, Xpeng will bring changes to the public in terms of localization and intelligence. In addition, Xpeng Motors will learn from Volkswagen's experience in automotive engineering technology, production quality management system, and how to reduce costs through the supply chain, and jointly develop products that combine software and hardware in China. This year, Xpeng will have a very high goal.
7. JD Car Maintenance responded to Tuhu's claim of 5 million yuan
Recently, Shanghai Yantu Information Technology Co., Ltd. (the main company of Tuhu Car Maintenance) filed a lawsuit with the Shanghai Minhang District People's Court, requesting that the three defendants, including Beijing Automobile Guangxing Information Technology Co., Ltd. (Jingdong Car Maintenance Company), be ordered to pay 5 million yuan in compensation. The reason for the lawsuit was that JD had previously pushed the "Zhenhu price", which had affected the plaintiff's goodwill, and Tuhu claimed that the defendant deleted the relevant expressions of "Zhenhu price" in all channels.
Regarding Tuhu's lawsuit against JD.com for compensation of 5 million yuan, the relevant person in charge of JD Car Maintenance said that there are many "roadblocks" that affect everyone's experience, such as inflated prices, excessive maintenance, lack of standards, and uneven services. Jingdong car maintenance "shock tiger price" has two meanings: one is to improve efficiency and experience, sweep away these "roadblocks"; the other is to reduce the cost of car owners through solid supply chain capabilities, to achieve the purpose of maintaining a good car at a low price, there is no situation for a certain enterprise. Jingdong's car maintenance "Zhenhu price" will be upgraded again, and co-brand merchants will increase subsidies by 500 million yuan. What Jingdong has to do is to "know that there are tigers in the mountains, and prefer to go to the tiger mountains".