Buick to Introduce Velite 6 PHEV in China This Month

Buick, the US carmaker General Motor’s brand popular in China, is to introduce the VELITE 6 plug-in hybrid electric vehicle (PHEV) to its new energy vehicle portfolio this month.

This car boasts a range of 780 kilometer range, including 60 kilometers powered by electricity. It is equipped with LG lithium battery pack a 1.5 L four-cylinder engine for hybrid system. The fuel consumption is 1.4 liters/100 kilometers.

Buick now has the VELITE 6 extended range electric vehicle (EREV) and and VELITE 6 battery vehicle (BEV) in its electric vehicle portfolio.

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China’s Cheersson Precision to Supply Continental-BMW Project

Suzhou Cheersson Precision Metal Forming will supply the multi-media product series Retaining Plate Assy that will be used in a new project between German auto parts maker Continental and BMW. The supply period will run from 2022 to 2029, the Suzhou-based supplier of sheet-metal parts, modules and mechanical components said in a statement. Sales are expected to reach about USD23.1 Million. This will be the first time that Cheersson’s products will be used in BMW vehicles, reflecting the recognition of the company’s technical strength, product quality and supply capabilities, the company said. It will also have a positive impact on the firm’s product expansion in various passenger car markets, it added.

Virus Failed to Stop Tesla From Doubling Sales in China

The Covid-19 pandemic did little to control Tesla fans' hunger for the US firm's electric vehicles in its biggest foreign market during the second quarter. The auto firm sold USD1.4 billion worth of cars in China over the quarter, doubling from a year ago, the California-headquartered firm said in a filing to the US Securities and Exchange Commission yesterday. Next, the company is recruiting big in Shanghai to start making Model Ys in its first overseas plant. Tesla’s total revenue slid 5 percent to USD6 billion in the second quarter, according to the same report. Revenue on the home turf fell 11 percent to USD3 billion. The company is hiring 1,000 employees at its Shanghai Gigafactory, including assembly workers and quality inspectors, it said in a statement on We Chat earlier this month. This is the first time that Tesla is recruiting designers in China. The campaign is partly in preparation for Model Ys, Tencent's tech news arm reported, citing an insider. The automaker...

Didi Denies Report Ride-Sharing Giant Plans Hong Kong IPO

Didi Chuxing has dismissed a news report that claimed China’s dominant ride-hailing services provider plans to go public in Hong Kong. The Beijing-based company said it has no such plans at present and an initial public offering is not currently its top priority, The Paper reported today. Chinese media outlet Sina reported on July 20 that Didi is in talks with investment banks for a HKD600 billion (USD77.41 billion) floatation in Hong Kong within the year. It cited an informed investor, who also said the listing would be among the city’s largest IPOs in recent years.

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