Gasgoo Daily: Gotion High-Tech GDRs will trade on SIX Swiss Exchange on July 28

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With Gasgoo Daily, we will bring you important automotive news in China daily. For those we have reported, the title of the piece will have a hyperlink, which will provide detailed information.

Gotion High-Tech’s GDRs will trade on the SIX Swiss Exchange on July 28

Chinese battery maker Gotion High-Tech is to raise $685 million after pricing its Global Depositary Receipts (“GDRs”) in Switzerland. It will sell 22.8334 million GDRs at $30 each. According to the company’s announcement published today, the GDRs will trade on SIX Swiss Exchange AG on July 28, 2022.

Photo credit: Gotion High-Tech

Jiangling Motors posts 11.64% year-on-year growth in H1 2022 net profit

Jiangling Motors Co.,Ltd. announced on Tuesday that its net profit attributable to shareholders reached 452,381,022 yuan ($66.913 million) in the first half of 2022, up 11.64 percent from a year earlier.

Highly Marellis’ Xiangyang plant sees the first air conditioning leave line dedicated to high-end electric vehicles

The Highly Marelli joint venture said today that the first air conditioner dedicated to high-end electric vehicles produced by its Xiangyang plant has already rolled off the production line.

WEY Latte DHT-PHEV hits the market

WEY brand DHT-PHEV Latte hits the market on July 25th. Its price is between 229,000 yuan and 263,000 yuan ($33,870 to $38,900).

Haima Automobile’s R&D on the 4th generation FCV model is underway

Haima Automobile is developing its fourth-generation fuel cell vehicle (“FCV”) model, the Chinese automaker recently revealed on a Q&A platform in response to an investor’s question.

SGMW will bring the first mobile nucleic acid sampling vehicles to market in August

SAIC-GM-Wuling (“SGMW”), a joint venture of General Motors with Chinese partners SAIC Motor and Guangxi Automobile Group, announced on July 26 that its first mobile nucleic acid sampling vehicles would go into service in August at Shanghai, with the aim of facilitating epidemic prevention and control work.

GAC Group and SenseTime team up on smart driving, metaverse and smart cockpit

GAC Group announced on July 26 that it has already signed a framework agreement with SenseTime, a Chinese AI platform company, to carry out strategic cooperation in a host of fields, including intelligent driving and the metaverse.

Tesla Shanghai Gigafactory set to complete modernization project on August 7

Tesla’s Shanghai Gigafactory modernization project will be completed on August 7, local media reported.

Dongfeng Motor and CEC to cooperate in automotive chips, cyber security and automotive electronics

Dongfeng Motor Corporation (DFMC) and China Electronics Corporation (CEC) recently signed a framework agreement to carry out strategic cooperation in the fields of automotive chips, network security, digitization and automotive electronics.

Changan Automobile SL03 hits the market, starting at RMB 168,900

Changan Automobile’s first production model under the new Shenlan brand, the SL03, officially went on sale on July 25.

Brembo will create a joint venture in the field of friction technologies with the Chinese Gold Phoenix

Brembo, the Italy-based global automotive brake system maker, intends to form a joint venture with Chinese auto parts supplier Shandong Gold Phoenix Co., Ltd. (“Gold Phoenix”) in Jinan City, capital of Shandong Province, according to the latter’s announcement released on July 26.

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