Domestic news
Biden was revealed to announce new tariffs on China's electric vehicles as soon as next week, China: The United States is wrong on May 10, Foreign Ministry spokesman Lin Jian said in response to questions from foreign media reporters that the previous US administration imposed "301 tariffs" on China, which seriously interfered with the normal economic and trade exchanges between China and the United States, and has been ruled by the WTO to violate WTO rules. Instead of correcting its erroneous practices, the US side continues to politicize economic and trade issues and abuses the so-called "Section 301 tariff" review procedure to further increase tariffs. We urge the US side to earnestly abide by WTO rules and cancel all additional tariffs imposed on China, let alone increase tariffs. China will take all necessary measures to defend its rights and interests.
Passenger Car Association: Retail sales of new energy vehicles in April were 674,000 units, up 28.3% year-on-year
On May 10, data from the China Passenger Car Association showed that the wholesale sales of new energy passenger vehicles reached 785,000 units in April, a year-on-year increase of 30.0% and a month-on-month decrease of 3.7%. Retail sales of new energy vehicles in April totaled 674,000 units, up 28.3% y/y and down 5.7% m/m. NEV exports in April totaled 115,000 units, reflecting a 26.8% y/y increase and a 4.1% m/m decline.
In April, the inventory coefficient of automobile dealers was 1.7, and the inventory level was above the warning lineOn May 10, the China Automobile Dealers Association released the survey results of "automobile dealer inventory" in April 2024: the comprehensive inventory coefficient of automobile dealers in April was 1.7, up 9.0% month-on-month and 12.6% year-on-year.
Shenzhen Releases Action Plan for Innovation and Development of Hydrogen Energy Industry (2024-2025) On May 10, it was reported that the Action Plan for Innovation and Development of Hydrogen Energy Industry in Shenzhen (2024-2025) has been approved by the municipal government and issued for implementation. The plan proposes that by 2025, the scale of Shenzhen's hydrogen energy industry will grow, the innovation ability will be improved, the key components and equipment technology will reach the domestic leading level, and a number of innovative enterprises with leading technology and international competitiveness will be formed. The plan also includes the construction of hydrogen refueling stations, innovative carriers, the promotion of market-oriented demonstration and promotion of fuel cell vehicles, and the formulation and revision of international and domestic standards in the field of hydrogen energy.
On May 10, it was reported that the trade-in policy of Zhejiang consumer goods adopted the same direction of provincial, municipal and county finances, including automobiles, home appliances and other fields. According to reports, consumers will be given a one-time subsidy for the purchase of new cars for scrapping fuel passenger cars with emission standards of China III and below or new energy passenger vehicles registered before April 30, 2018. On this basis, the scope of car subsidies will be expanded to vehicles of China IV and above standards, and this policy can be superimposed to enjoy car purchase subsidies in various places. At the same time, the province's recycling and dismantling qualification enterprises will carry out online car collection, free trailer and other services, and encourage and support the expansion of second-hand car exports.
Nanjing: By 2027, 5,000 new public charging piles will be added, and the Nanjing Municipal People's Government recently issued the "Implementation Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods in Nanjing". It is mentioned that the transformation of transportation equipment will be accelerated. Promote the phase-out and renewal of old diesel trucks. The new buses have been fully replaced by new energy and clean energy, and the old new energy buses and power batteries have been continuously upgraded. By 2027, the proportion of new energy in urban public transport will strive to reach 95%. Accelerate the promotion of the pilot application of battery swap mode for new energy vehicles. By 2027, 5,000 new public charging piles will be added. International News
Demand for pure electric vehicles is weak, and Ford is reconsidering its plan to stop selling gasoline-powered vehicles in Europe by 2030
Ford Motor Company has said that it is reconsidering its plan to stop selling gasoline-powered vehicles in Europe by 2030. "As the adoption of electric vehicles in Europe slows, we believe that we will still need to offer our customers a choice of internal combustion engines and hybrid vehicles beyond 2030. The company is closely monitoring the situation and will make adjustments as needed. Ford said.
BP seeks to acquire Tesla's supercharging sites On May 10, BP's electric vehicle charging arm is actively seeking to acquire Tesla's supercharging sites, including receiving employees at these sites, to expand its own charging network. According to the report, BP plans to invest $1 billion by 2030 to install more than 3,000 charging points across the United States.
Geely Automobile: The IPO price of ZEEKR in the United States is $21 per shareOn May 10, Geely Automobile announced that the initial offer price of ZEEKR ADSs is set at $21 per share, and the ADSs will begin trading on the New York Stock Exchange on May 10, 2024 (New York time).
Honda's operating profit in fiscal year 2023 hit a record high On May 10, Honda released its financial report, saying that in fiscal year 2023 (April 2023-March 2024), the company's operating profit hit a record high of 1,381.9 billion yen (about 64.2 billion yuan), a year-on-year increase of 77%, and the operating profit margin was 6.8%. Corporate News
BYD considers building a second factory in Europe in 2025 According to Reuters, Michael Shu, managing director of BYD Europe, said at the Future Car Conference held by the Financial Times on May 9 that the company will consider building a second assembly plant in Europe in 2025. A few days ago, France just said that it welcomed BYD to build a factory there.
On May 10, Huawei's official website updated its management information, and as of now, Yu Chengdong serves as Huawei's executive director, chairman of the terminal BG, chairman of the intelligent vehicle solution BU, and director of the IRB of intelligent terminals and intelligent automotive components. In addition, Yu Chengdong's Weibo profile has also been updated, and he is now Huawei's Executive Director, Chairman of the Board of Directors of the Device BG, and Chairman of the Intelligent Vehicle Solution BU, and has been changed from CEO of the Device BG to Chairman of the Board of Directors of the Device BG.
Wei Jianjun of Great Wall Motors: The intensity of competition will not decrease in the next three years, and the overseas sales of this year will challenge 500,000 units On May 10, Wei Jianjun, chairman of Great Wall Motors, said at the company's annual general meeting of shareholders that the loss of the electric vehicle market at the industry level will expand in 2023, and it is expected that the market competition intensity will not decrease in 2024-2026. Wei Jianjun also said that Great Wall Motor's overseas sales will challenge 500,000 units this year.
Skyworth Automobile and Saudi Arabia KAG Group signed a strategic cooperation agreement of 10 billion yuan, Skyworth Automobile recently announced that Saudi Arabian KAG Group and Skyworth Automobile have conducted 10-year strategic cooperation negotiations and signed a contract. The 10-year strategy signed between KAG Group and Skyworth Automobile will be divided into two phases, with the first five years of the first phase of cooperation planning of 10 billion yuan, and the second phase of five-year cooperation will be further carried out according to the situation of the first phase. At the same time, KAG Group has reached cooperation with Skyworth Automobile for a full range of new energy products, including passenger cars, supercharging stations, and smart life, including KAG Group, which will soon become the exclusive partner of Skyworth Automobile in Saudi Arabia.
Recently, Chery Automobile Co., Ltd.'s postdoctoral research workstation was officially approved by the Office of the National Postdoctoral Management Committee, becoming the first enterprise in Anhui Province to obtain the qualification of independent postdoctoral researchers.
GAC Energy Technology (Hunan) Co., Ltd. was established, and plans to build 300 charging stations within 3 years Recently, GAC Energy Technology (Hunan) Co., Ltd. was registered, marking that GAC Group has further strengthened its strategic layout in Hunan after the GAC Aion third plant project settled in Changsha. In the future, GAC Energy Technology (Hunan) Co., Ltd. will focus on Changsha, radiate Hunan, cooperate with GAC Aion's third plant, increase scale, increase layout, and build a "second home" of energy, planning to build 300 charging stations within three years. ◆ Behind the Hidden Door Handles: Considerations of Car Companies and Consumer Disputes ◆ Tesla's global layoffs have caused China and the United States to become the hardest hit areas
Text: Zhang Dongmei Editor/Layout: Zhao Fangting
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