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Great Wall Motors responds to being "blacklisted" by China Southern Power Grid in bidding

On August 21, Great Wall Motors issued a statement on the Announcement No. 009 of the China Southern Power Grid Supply Chain Platform, stating that the company won the bid for 35 Tank 500 models in the bidding held in November 2022. Due to negligence in the vehicle delivery process, there was a difference between the delivery and the subject matter. After discovering the problem, after confirmation with the China Southern Power Grid, the company has compensated for the difference and sincerely apologized for the inconvenience caused to the China Southern Power Grid.

The dark blue car suddenly bounced up and burst into flames while driving. The CEO of the car company responded: the brick pierced the battery cell.

On August 21, a video of a Changan Deep Blue SL03 bursting into flames while driving was circulated on the Internet. In response, Deep Blue Auto CEO Deng Chenghao said that the cause of the accident was that the tire of the vehicle pressed on a hollow and damaged stone brick, which lifted up and supported the vehicle chassis. The vehicle violently flew into the air and fell, and the sharp corners of the stone brick directly tore the battery bottom plate and pierced two battery cells, causing the battery cells to catch fire.

Hongmeng Intelligent Driving new product launch conference officially announced to be held on August 26, launching the new M7 Pro

Recently, official accounts of Huawei Terminal, AITO Automobile, Hongmeng Zhixing and others announced at the same time that the Hongmeng Zhixing new product launch conference will be held at 14:30 on August 26. At that time, the national SUV Wenjie New M7 Pro will be officially launched, which is the latest member of the Wenjie family.

New Forces

Xiaomi Motors' second quarter financial report: 27,000 vehicles sold, 1.8 billion yuan loss

On August 21, Xiaomi Group announced that the revenue of its innovative business divisions such as smart electric vehicles in the second quarter of 2024 was RMB 6.4 billion, and its adjusted net loss was RMB 1.8 billion. The Xiaomi SU7 series delivered 27,307 new vehicles. Xiaomi Group said that it expects to complete the goal of delivering 100,000 new vehicles in the Xiaomi SU7 series ahead of schedule in November 2024, and will sprint to the new goal of delivering 120,000 new vehicles in the Xiaomi SU7 series in 2024.

Tesla's Shanghai Energy Storage Super Factory construction progress has reached about 45%

On August 20, Tesla's global vice president Tao Lin revealed on Weibo that Tesla's Shanghai energy storage super factory is accelerating construction and the progress has reached about 45%. The factory initially plans to produce 10,000 commercial energy storage batteries annually, with an energy storage scale of nearly 40GWh.

Gross profit margin exceeds 17%! Zeekr released its 2024 Q2 financial report, with quarterly revenue increasing by 58% year-on-year

On August 21, Zeekr (ZK.US) announced its second quarter financial report for 2024. The company's total revenue in the second quarter was 20.04 billion yuan, a record high for a single quarter, a year-on-year increase of 58%, a month-on-month increase of 36%, and a gross profit margin of 17.2%. The operating income in the first half of the year was nearly 35 billion yuan, a year-on-year increase of more than 60%. In the second quarter, Zeekr's R&D investment reached 2.62 billion yuan, a year-on-year increase of 90%; the cumulative R&D investment was 21.52 billion yuan.

Xpeng Motors: Total revenue increased by 61.2% in the first half of 2024, and net losses narrowed significantly

On August 20, Xpeng Motors released its interim results for the six months ending June 30, 2024. The financial report showed that the company achieved total revenue of RMB 14.66 billion during the reporting period, a year-on-year increase of 61.2%; its net loss was RMB 2.65 billion, a significant year-on-year narrowing.

Xpeng Motors delivered 52,028 vehicles in the first half of 2024, up 25.6% from 41,435 vehicles in the same period last year. This growth is mainly due to the company's continued efforts in the smart electric vehicle market and the continuous enrichment of its product line.

Overseas News

Tesla lifts sales restriction, owners can freely resell Cybertruck

On August 21, Tesla quietly revised the sales agreement for Cybertruck and cancelled the policy prohibiting resale.

Previously, the policy prohibited owners from reselling the Foundation Series Cybertruck within one year of picking it up, and violators could face fines of up to $50,000. The policy change comes as Tesla begins selling Cybertruck widely and allows buyers to purchase it directly through the online order configurator without the need for reservations. Despite the previous prohibition on resale, some people still resold the Cybertruck privately. Tesla has taken punitive measures against these people, canceling their future orders and refunding reservation or order fees.

Ford continues to slow down its electrification efforts

Ford Motor Co. said on Wednesday it had canceled a planned three-row electric SUV and delayed a new electric version of its popular F-150 pickup truck, the latest delays by the U.S. automaker as it cuts costs to stimulate demand.

Ford Motor Co., General Motors Co. and other automakers have delayed or canceled new electric models to avoid rushing into production if consumer demand falls short of expectations.

Mercedes-Benz partners with cloud gaming platform Boosteroid to bring PC gaming to cars

Mercedes-Benz reportedly announced on August 21 that it has partnered with the cloud gaming platform Boosteroid to provide cloud gaming capabilities for its models equipped with the third-generation MBUX infotainment system. Starting next year, car owners will be able to access more than 1,000 high-quality games in the car, including Fortnite and Sea of ​​Thieves.

It is understood that the Boosteroid platform provides access to high-end PC games and can be used through desktop computers, laptops, tablets, Android TVs, and even mobile phones. Through cooperation with Microsoft, Boosteroid members can access PC games purchased through Steam or Epic Games Store.

Toyota, Hitachi and 116 other companies will unify in-vehicle software management rules to protect cars from cyber attacks

On August 21, Toyota, Hitachi, and other companies will cooperate to protect cars from cyber attacks. In order to quickly respond to software vulnerabilities related to car control, the industry group will unify the rules of "software bill of materials" as early as 2025.

According to the report, 116 companies including Toyota and Mazda, parts manufacturers such as Aisin and Denso, and Hitachi, Ltd. have joined the industry group called "Japan Automotive ISAC" to formulate industry-wide unified rules for the "SBOM (software bill of materials)" that comprehensively summarizes the program names and providers of in-vehicle software. The principle is that if a vulnerability that may become a target of cyberattack is found in a widely used program, if the SBOM is unified in the industry in advance, manufacturers can quickly confirm whether their products use the relevant program through comparison.

Domestic Industry

China Automobile Dealers Association: More than 50% of auto dealers suffered losses in the first half of the year, with an average loss of 1.78 million yuan in new car sales per store

On August 21, the China Automobile Dealers Association released a national automobile dealer survival survey report for the first half of 2024. The report shows that in the first half of 2024, the loss ratio of dealers reached 50.8%, and the profit ratio was 35.4%, and the loss area was significantly larger than the previous year. In the profit structure of dealers, new car sales suffered serious losses, the gross profit contribution of new cars was negative, and the losses continued to expand. In addition, the average gross profit per store has been significantly reduced compared with 2023, especially for the new car business, with an average loss of 1.78 million yuan per store.

SAIC responded to the EU's 36.3% final anti-subsidy tax: We will overcome the short-term impact and make every effort to make up for it

On August 21, the European Commission released the preliminary disclosure of the final ruling of the anti-subsidy investigation on August 20, and calculated the highest anti-subsidy tax rate of 36.3% for SAIC. SAIC subsequently responded that due to the pressure from overseas markets such as Europe and the United States, SAIC's overall sales volume this year has experienced short-term fluctuations, and it will make every effort to make up for it and strive to achieve a continuous increase in sales month by month.

Geely Auto's revenue in the first half of 2024 will exceed 100 billion yuan

On August 21, Geely Auto disclosed its 2024 semi-annual results. During the reporting period, Geely Auto achieved operating income of 107.3 billion yuan, a year-on-year increase of 46.6%, a record high; the profit attributable to non-shareholders increased significantly year-on-year to 3.37 billion yuan, and the net cash level increased by 25.4% to 35.7 billion yuan, a record high. In terms of sales, in the first half of this year, Geely Auto's cumulative sales were about 956,000 vehicles, a year-on-year increase of 41%. Among them, the cumulative sales of new energy vehicles exceeded 320,000 vehicles, a year-on-year increase of about 117%, and the penetration rate of new energy vehicle products increased from 21.8% in the same period last year to 33.5%, achieving year-on-year and month-on-month growth for three consecutive months.