Automotive News Summary

Domestic News

Four Departments Issue the "National Artificial Intelligence Industry Comprehensive Standardization System Construction Guide (2024 Edition)"

On July 2, the Ministry of Industry and Information Technology and other four departments issued the "National Artificial Intelligence Industry Comprehensive Standardization System Construction Guide (2024 Edition)". By 2026, the linkage level between standards and industrial scientific and technological innovation will continue to improve, with more than 50 new national and industry standards formulated to accelerate the formation of a standard system leading the high-quality development of the artificial intelligence industry. More than 1000 enterprises will carry out standard promotion and implementation, making the standard service more prominent in promoting the innovative development of enterprises. More than 20 international standards will be participated in, promoting the global development of the artificial intelligence industry.

China Automobile Manufacturers Association: Total Import and Export of Automobile Commodities in May Reached $26.38 Billion, a Sequential Increase of 3.4%

On July 2, according to the data organized by the China Automobile Manufacturers Association from the General Administration of Customs, by May of this year, the total import and export of automobile commodities showed a slight increase year-on-year. In May 2024, the total import and export of automobile commodities was $26.38 billion, a sequential increase of 3.4%, and a year-on-year increase of 7.9%. The import amount was $6.07 billion, a sequential increase of 11.5%, and a year-on-year increase of 2.2%; the export amount was $20.31 billion, a sequential increase of 1.3%, and a year-on-year increase of 9.8%.

China Automobile Circulation Association: Auto Consumption Index Decreased in June

On July 2, the latest "Auto Consumption Index" released by the China Automobile Circulation Association showed that the auto consumption index in June 2024 was 74.5, which decreased month-on-month, and it is expected that the car sales volume in July will decrease month-on-month. Experts from the China Automobile Circulation Association believe that the high temperature and rainy weather in July will affect consumers' visits to stores to buy cars to a certain extent. In addition, the dealers carried out promotional activities to rush sales volume in June to complete the sales target, which has a certain overdraft on the car purchase demand in July, and also suppresses the increase of car sales volume in July.

China Passenger Car Association: A Total of 3.64 Million Vehicles Were Recalled from January to June, Overall Stability Returned

On July 2, Cui Dongshu, Secretary-General of the China Passenger Car Association, stated that from January to June 2024, a total of 67 batches of 3.64 million vehicles were recalled, a year-on-year increase of 66%, and the overall situation has returned to stability relatively. Foreign-funded enterprises have more recall times, and the number of independent recalls is gradually increasing. The recall of new energy vehicles is gradually increasing, in addition to the recall of 1.63 million vehicles by Tesla, the overall recall quantity is not large. There have been no new trend events in the recall of traditional vehicles, and the consumer policy environment is very supportive of promoting consumption.

Beijing Vehicle-Road-Cloud Integrated New Infrastructure Construction Project Bidding for Project Proposal Preparation

On July 2, the official website of the Beijing Economic and Technological Development Zone showed that the preparation of the project proposal (on behalf of the feasibility research report) for the Beijing Vehicle-Road-Cloud Integrated New Infrastructure Construction Project began to be bid publicly. The tenderer of the project is the working office of the high-level autonomous driving demonstration zone in Beijing, with a total project amount of 1.84 million yuan. The tender announcement shows that the construction project to be prepared mainly includes two parts of "road" and "network".

"Two Certificates in One" Pilot for Imported Cars Lands in Tianjin

On July 1, the first ticket of parallel imported cars "two certificates in one" pilot landed in Tianjin. According to the 70th announcement of 2024, from July 1, 2024, Tianjin Customs was officially included in the pilot range of the "two certificates in one" reform for imported motor vehicles. The two certificates refer to the "Certificate of Import of Goods" and the "Import Motor Vehicle Inspection Sheet with the Vehicle".

International News

LG Energy Solution to Supply LFP Batteries for Renault's Electric Vehicles

On July 2, South Korean battery manufacturer LG Energy Solution (LGES) stated that it had signed an agreement to supply lithium iron phosphate (LFP) batteries for electric vehicles to French carmaker Renault. In a statement, the company said that under a five-year contract until 2030, LG Energy Solution will provide LFP pouch batteries to Renault's electric vehicle division Ampere, with a total capacity of 39 gigawatt-hours, enough for 590,000 electric vehicles.

Hyundai's Indian Subsidiary Plans to Raise $3.5 Billion, May Become India's Largest IPO

On July 2, insiders said that Hyundai's Indian subsidiary's IPO in India may raise up to $3.5 billion, making it the largest IPO in Indian history. The insider said that the target transaction size of Hyundai's Indian subsidiary is at least $3 billion, possibly up to $3.5 billion, and details such as the issuance size and time are still under discussion and may change.

Tesla Appoints Former Mercedes Executive as Production Director of Berlin Factory

On July 2, according to the German "Business Newspaper," Adrian, who is responsible for all production processes at the Tesla Berlin factory, does not include the battery manufacturing department. It is reported that Adrian previously worked at Mercedes-Benz and Beijing Mercedes-Benz Automobile Co., Ltd.

Toyota Recalls 11,418 Vehicles in the U.S. Due to Headrest Issue

On July 2, according to the U.S. National Highway Traffic Safety Administration (NHTSA), due to the headrests on the driver and front passenger seats that may be accidentally removed without pressing the lock release button, Toyota will recall some Lexus RX 350, RX 350h models of 2024, and NX 250, NX 350, and NX 350h models of 2024-2025, totaling 11,418 vehicles.

BYD Signs Strategic Cooperation Memorandum of Understanding with French Car Leasing Company Ayvens

On July 2, French car leasing company Ayvens announced that the company signed a memorandum of understanding with BYD at BYD headquarters in Shenzhen to distribute electric passenger cars and light vehicles to European customers. Ayvens will provide leasing services to small and medium-sized enterprises and individuals through BYD's dealer network. The operating lease service will initially be provided in France, the Netherlands, Belgium, and Luxembourg, and plans to expand to other European countries.

Corporate News

WM Motor Forced to Execute 20.71 Million Yuan

Legal litigation information from Tianyancha shows that recently, WM Motor Technology Group Co., Ltd. and its WM New Energy Automobile Procurement (Shanghai) Co., Ltd. have added a new execution information, with an execution target of more than 20.71 million yuan, involving a contract dispute case, and the executing court is the People's Court of the Economic and Technological Development Zone of Wuhu. Tianyan Risk Information shows that WM Motor Technology Group Co., Ltd. currently has 12 execution information, with a total amount of more than 96.56 million yuan executed. In addition, the company also has multiple restricted consumption orders, dishonest execution (deadbeat) and final case information.

Xiaomi Automobile: Xiaomi SU7 Series Delivery Further Accelerated, the Delivery Cycle After Locking