🚗 Automotive News Summary 🚗

June 21, 2024

Domestic News

EU's Probe into Chinese Electric Vehicle Subsidies: Ministry of Commerce Responds

The Ministry of Commerce held a press conference on June 20th, where spokesperson He Yadong addressed concerns over the EU's anti-subsidy investigation into Chinese electric vehicles. The EU Commission has demanded extensive information from Chinese electric vehicle and battery enterprises, including operational details, development plans, technical processes, and product formulas. This includes detailed battery compositions and formulas, production costs, procurement information for all electric vehicle parts and materials, sales channels, pricing methods, European customer information, and supply chain layout information. The EU's data collection scope and quantity are unprecedented and far exceed the needs of an anti-subsidy investigation. Despite Chinese enterprises cooperating to the fullest extent, the EU Commission still accuses them of insufficient cooperation and imposes punitive high tariffs. China strongly opposes this and will take necessary measures to protect the legal rights of Chinese enterprises.

National Energy Administration: 12 Million Charging Facilities by 2025

Zhang Jianhua, the head of the National Energy Administration, announced on June 20th that to promote high-quality energy development, the country will focus on energy-saving and low-carbon transitions. By 2025, China aims to build about 12 million charging infrastructures to enhance electric vehicle charging services and ensure that the level of electrical energy use reaches around 30%.

Shenyang: Hydrogen Energy Industry to Reach 50 Billion Yuan by 2025

Shenyang Municipal Government released the "Shenyang City Hydrogen Energy Industry Development Plan (2024-2030)" on June 20th, aiming to build Shenyang into an influential "Northern Hydrogen Capital." By 2025, the hydrogen energy industry is expected to achieve an annual output value of 50 billion yuan, forming a hydrogen industry chain pilot demonstration base that covers the whole city and radiates the whole province.

International News

European Car Sales Decline: High Electric Vehicle Prices a Major Barrier

European car manufacturers reported a 2.6% decrease in car sales in May compared to the same period last year, with high prices of electric vehicle models being the main deterrent for consumers. The European Automobile Manufacturers' Association stated that the new car registrations dropped to 1.09 million units last month, with electric vehicle sales falling by 11%.

Slovakia Announces Subsidies for Guotze High-tech Joint Venture

Slovakia's Economy Minister announced a 214 million euro national aid package for the battery company Gotion InoBat Batteries (GIB), a joint venture between Guotze High-tech and the Slovakian battery manufacturer InoBat. The company plans to invest nearly 1.2 billion euros in a new electric vehicle battery factory in Slovakia, which is expected to start production in January 2027 and reach full capacity by June of the same year.

Germany Chamber of Commerce: Tariffs on Chinese Electric Vehicles Won't Protect EU Companies

The German Chamber of Commerce stated that increasing tariffs on Chinese electric vehicles will not protect German and European car manufacturers, as companies like Volkswagen, Mercedes-Benz, and BMW heavily rely on the Chinese market. The Chamber suggests that the EU should invest more to enhance the competitiveness of local enterprises rather than raising tariffs and creating trade barriers.

Corporate News

Chang'an Automobile Wang Jun: No Need to Choose Narrow Automotive Departments for the Industry

Wang Jun, President of Chang'an Automobile, stated on June 20th that one does not need to choose narrow automotive departments to enter the automotive industry. The industry has evolved into an integrated body of technology and innovation, encompassing talents from various fields. In addition to choosing a major, the selection of cities and schools as platforms is also crucial.

GAC Group Issues Initiative to Eliminate Cyber Violence and Maintain a Positive Public Opinion Environment

GAC Group published an initiative on June 20th to combat cyber violence and uphold a positive public opinion environment. The company has established a cyber report center to collect evidence of cyber infringements against the company.

Xinwangda Secures Battery Projects for Xiaomi's New Car and Ideal Pure Electric

Industry insiders have revealed that Xinwangda's power battery company has secured battery projects for Ideal's M8 and M7 models and Xiaomi's third car model "Kunlun". Xinwangda responded that it is bound by confidentiality agreements and cannot disclose details.

Continental Group's Tire Factory in China Officially Starts Phase Four Production

Continental Group's tire factory in Hefei, Anhui, officially started its fourth phase of production on June 20th. The factory is expected to reach an annual production capacity of 18 million passenger and light truck tires by 2027.