(Source: First Electric Network 2024-07-18)
June terminal sales list: 70% of the TOP20 brands fell sharply year-on-year
First Electric News: June terminal sales showed that among the top 20 brands in sales, 14 brands fell by more than 10% year-on-year, and only 6 brands had positive year-on-year growth. They are: BYD, Ideal, Chery, Wenjie, Hongqi, and Jietu.
At the same time, the brand concentration of the top 20 sales models has further increased, of which BYD has 8 seats, Volkswagen has 3 seats, Tesla, Wenjie, and Toyota each have 2 seats, and Ideal, Honda, and Nissan have 1 seat each.
After BBA, Volkswagen, Toyota, Honda, and Volvo followed suit and exited the price war
Red Star News reported on July 17 that BMW China has recently withdrawn from the price war and will reduce sales volume to stabilize prices and ease the operating pressure on stores starting from July. Not only BMW, but also Volkswagen, Toyota, Honda, Volvo and many other brands have decided to adjust terminal policies starting from July, reduce terminal discounts, or not further reduce prices. w88 login is worth mentioning that some dealers, including Nissan, Mercedes-Benz and Audi, said they have not received formal notice of price adjustments from the brands, but will make dynamic adjustments based on market conditions and have a positive attitude towards "reducing volumes and stabilizing prices."
China Grand Automobile, the largest car dealer group in the country, is locked in delisting
Quai Technology reported on July 17 that Guanghui Automobile fell by the limit at the opening today, with a drop of 10.34%, and the closing unit price was 0.78 yuan/share. Because w88 login has been below 1 yuan for 20 consecutive trading days, the face value was locked in advance and delisted. On the same day, Guanghui Convertible Bonds also closed at the limit, potentially becoming the first high-rated convertible bond to hit the par value delisting standard so far.
Relevant people of China Grand Automobile stated publicly that the company will continue to do a good job in production and operation, and continue to reward shareholders by looking for strategic investors and other methods. Faced with the risk of delisting at value, the company will actively seek solutions to protect the interests of shareholders. In the 2024 China Automobile Distribution Industry Top 100 Dealer Groups Ranking released on May 29, China Grand Automobile ranked first with sales of 713,467 vehicles. Jiemian News reported that as of the end of 2023, the number of new energy stores put into operation by China Grand Auto accounts for only 3.5% of the total business outlets. As of the end of June this year, China Grand Automobile has applied for 70 new energy store authorizations. The new energy vehicle brands w88 login mainly invests in include Wenjie, Xiaomi, Jikrypton, Dongfeng Lantu and Great Wall Zhixuan.
Huawei Auto BU’s half-year revenue is nearly 10 billion yuan, exceeding the total of the past two years
On July 17, according to 36Kr Automobile, as of early July this year, Huawei’s smart car solution BU’s revenue in 2024 will reach 10 billion yuan. Compared with previous years, Huawei's automotive BU revenue has doubled. Huawei's annual report shows that from 2022 to 2023, Huawei's car BU's annual revenue was 2.1 billion and 4.7 billion yuan respectively. In just half a year, Huawei's car BU's revenue exceeded the total of the past two years. Huawei's automotive BU revenue has increased significantly, mainly due to the large customer Cyrus. In the first half of 2024, a total of 194,200 vehicles were delivered, of which approximately 190,000 were delivered in cooperation with Huawei and Cyrus, accounting for more than 90%.
However, 10 billion yuan in revenue is still not enough for the current Huawei Auto BU to support its independent operations. Changan Automobile previously issued an announcement announcing that Huawei Auto BU will be split off before September this year and become a joint venture between Huawei and Changan. Dongfeng and GAC are also interested in taking shares. A person close to Huawei's car BU said that Dongfeng has been in contact with Huawei for a long time and is determined to establish a joint venture. Since some of GAC's teams overlap with Huawei's car BU team, w88 login is still considering how to coordinate the work of its self-research team and Huawei's car BU team after the joint venture is established.
Passenger Car Association: The passenger car market retailed 578,000 units from July 1 to July 14, a year-on-year increase of 3%
Southern Finance, July 17th, data from the Passenger Car Association showed that from July 1st to 14th, the passenger car market retailed 578,000 units, an increase of 3% compared with the same period last year, an increase of 6% compared with the same period last month, and a total of 0 units since the beginning of this year. Sales volume reached 10.417 million units, a year-on-year increase of 3%; nationwide passenger car manufacturers wholesaled 449,000 units, a decrease of 23% compared to the same period last year, and a decrease of 15% compared to the same period last month. Since the beginning of this year, a total of 12.201 million units have been wholesaled, a year-on-year increase of 5%.
The retail sales of new energy vehicles in the new energy vehicle market were 286,000, an increase of 27% year-on-year, and an increase of 6% compared with the same period last month. The cumulative retail sales of 4.399 million units since the beginning of this year, an increase of 33% year-on-year; the wholesale sales of new energy vehicles by national passenger car manufacturers were 251,000, an increase of 10% year-on-year, and a decrease of 13% from the same period last month. The cumulative wholesale sales of this year were 4.87 million units, an increase of 29% year-on-year.
China Automobile Association: Exports of new energy vehicles in June were 86,000 units, a month-on-month decrease of 13.2%
On July 17, according to analysis by the China Association of Automobile Manufacturers, automobile exports will continue to maintain rapid growth year-on-year in June 2024. In June, 485,000 automobiles were exported, a month-on-month increase of 0.7% and a year-on-year increase of 26.9%. From January to June, 2.793 million vehicles were exported, a year-on-year increase of 30.5%. In June, 86,000 new energy vehicles were exported, a month-on-month decrease of 13.2% and a year-on-year increase of 10.3%. From January to June, 605,000 new energy vehicles were exported, a year-on-year increase of 13.2%.
EU member states voted on “increasing tariffs on Chinese electric vehicles”, with 12 votes in favor, 4 votes against, and 11 abstentions
Global Times news, according to informed sources on July 16, local time, EU governments voted in a non-binding vote on the EU’s imposition of import tariffs on electric vehicles made in China.
Sources said that 12 EU member states voted in favor of imposing tariffs, 4 voted against, and 11 abstained. This result will be taken into consideration when deciding whether to impose final tariffs. Although the vote is non-binding, the current position papers of each member state may influence the European Commission's final conclusion.
Reports indicate that the large number of abstentions reflects the wavering of many EU member states. In the vote, France, Italy and Spain supported the tariffs, while Germany, Finland and Sweden abstained. Hungary expressed clear opposition.
The European Commission has imposed temporary tariffs of up to 37.6% on electric vehicles imported from China from July 5 to deal with so-called "unfair subsidies". The final tariff will be decided in November. The European Commission consulted EU member states in an advisory vote.
Zhao Yongsheng, researcher at the National Institute of Opening up, w88 casinoSaid on the 16th that according to the results of the vote reported by the media, the positions of various countries have not changed much from before. He predicted that at present, w88 login will be quite a challenge to prevent the EU from formally implementing additional tariffs in four months. On the one hand, China and the EU need to continue dialogue; on the other hand, Chinese electric vehicle companies should also be prepared to increase lobbying efforts while looking for other potential markets.
domestic
Volkswagen ID.UNYX officially launched with the public, priced from 209,900 yuan
On July 17, Volkswagen Anhui’s pure electric compact SUV-ID. In terms of body size, the length, width and height of the new car are 4663/1860/1610mm respectively, and the wheelbase is 2766mm. In terms of power, ID.UNYX is uniquely equipped with a rear single motor and front and rear dual motors. The rear-wheel drive version has a maximum power of 170kW, and the four-wheel drive version has a combined power of 250kW. w88 login also uses an 82.4kWh ternary lithium battery pack. The cruising range under CLTC conditions is 621 kilometers and 565 kilometers respectively.
Nio Energy and Huawei Hongmeng Smart have reached a service cooperation: the charging network is open to Wenjie, Zhijie, Xiangjie and other brand cars
Quick Technology News on July 17th, NIO Energy and Huawei Hongmeng Zhixing officially announced that they have reached a charging service cooperation. According to the agreement, starting from July 17, Hongmeng Zhixing users can use the Hongmeng Zhixing App, AITO App and Wenjie, Zhijie, and Xiangjie vehicles to find and use NIO Energy charging piles across the country. The charging experience and efficiency have been comprehensively upgraded. As of July 17, NIO Energy has deployed 3,904 charging stations and 22,822 charging piles across the country, with an average daily availability rate of 99.72%.
BYD’s self-developed smart driving plan will be extended to 150,000 yuan-class models within 3 years, and refrigerators, color TVs, and large sofas will also become popular
w88 login House reported on July 17 that Zhang Zhuo, general manager of BYD Auto Ocean Network Sales Division, said in an interview: BYD's intelligent driving team currently has thousands of people and invested hundreds of millions. At the same time, w88 login adheres to the goal of "release is mass production" and will never do PPT smart driving. He also mentioned that compared to the “3+2” smart driving model that the industry is doing. BYD is taking the "5+2" route, and two of BYD's unique features are "valet parking" and "narrow passage". At the same time, BYD will continue to take advantage of its "low cost" and hopes to fully implement BYD's self-developed, self-produced and self-sold smart driving systems as standard equipment in models priced around 150,000 yuan or even less than 150,000 yuan within 2 to 3 years. Regarding the "refrigerator color TV and large sofa" that is currently the pride of the industry, he said that BYD will soon popularize this type of design. For example, the newly launched Dolphin will be equipped with BYD's independently developed compressor refrigerator, which can achieve -6°C cooling.
Avita Motors: w88 login is false information that the Internet has abandoned the direct operation model, and w88 login is promoting a dual-line layout of direct operation stores and dealer franchises
The Beijing News reported on July 17 that in response to the news circulating on the Internet that "Avita will abandon the direct operation model", Avita officially stated: This matter is false information and Avita has not given up the direct operation model. Avita responded that Avita is promoting the dual-line layout of directly-operated stores and dealer franchises to give full play to their respective advantages. The reporter called Avita's Beijing Sanlitun direct-operated store, and the operator said that the direct-operated store is currently operating normally and has no plans to close down or exit. In May of this year, there was news that "Avita is fully transforming its dealer channel model." Avita's official subsidies and compensation measures for store employees are "particularly detailed and thoughtful" and try their best to allow dealers to absorb all direct-operated employees, especially in the early stage of the transformation.
2024 China Automobile Summer Test Results Announced: 10 models passed the final test, Xiaomi SU7 won three first places
According to news on July 17, China Automotive Information Technology Co., Ltd. today announced the results of the 2024 summer test. This test selected a total of 42 domestic mainstream models for testing, fully simulating the diverse car usage scenarios and extreme environments that consumers may encounter in summer. This test is divided into two major links, the Guangzhou wet heat test and the Turpan dry heat test. 26 of the 42 models passed the Guangzhou high-temperature and wet-heat test and entered the Turpan high-temperature and dry-heat test. Finally, 10 models passed the summer test.
China FAW signed a contract with Changchun Municipal Government to promote the construction of "vehicle-road-cloud integration" pilot city
Securities Times news, on July 16, at the Changchun Automotive Industry High-Quality Development and Vehicle-Road-Cloud Integration Construction Launch Conference, China FAW Group Co., Ltd. signed a strategic cooperation framework agreement on "Car-Road-Cloud Integration" with the Changchun Municipal People's Government, China Mobile Communications Group Co., Ltd., and Guoqi (Beijing) Intelligent Connected Vehicle Research Institute Co., Ltd. According to the agreement, all parties will, based on the principles of mutual benefit and win-win cooperation, give full play to their respective advantages, deepen cooperation in the fields of cloud control platform construction, road cloud network facility construction, joint operations and other fields, and achieve deep integration of the automotive industry, information and communication technology with smart cities and smart transportation.
w88 login is rumored online that NIO will withdraw from the price war
According to China Automotive Network, on July 16, a NIO salesperson revealed that the company had just held an internal meeting in order to increase profits. Starting from July 22, the price of Weilai ET5 and 5T models will increase by 3,000 yuan; the price of ES6 and EC6 models will increase by 5,000 yuan. "Now you can enjoy a discount of up to RMB 28,000 for depositing a car now. You will no longer miss out. No kidding." said the salesperson. In this regard, some media contacted NIO Auto Sales. The salesperson said, "Before the 21st, Weilai's ET5 and 5T had a maximum discount of 24,000 yuan, and ES6, EC6, and ET7 had a maximum discount of 28,000 yuan. After the 22nd, the discounts will gradually decline." Behind this strategic adjustment is the consideration of luxury brands seeking to stabilize brand value and dealer profits in fierce market competition. Although the ongoing price war may attract consumers in the short term, in the long term w88 login may damage brand value and put pressure on dealers' operations.
Lynk & Co Z10 will arrive in stores on July 20th, and pre-sale is expected to start in late July
Bitauto News On July 17, we learned from the official that Lynk & Co Z10 will be launched in 386 stores in 203 cities across the country on July 20. The new car is positioned as a pure electric medium and large sedan. w88 login is a milestone model in Lynk & Co's transformation to new energy after the Lynk & Co 08EM-P and the Lynk & Co 07EM-P. According to previous news, pre-sales of the new car will begin in late July. The length, width and height of the new car are 5028mm1966mm×1468mm respectively, and the wheelbase is 3005mm.
Only 1,100 vehicles were sold in China last year, w88 login was revealed that Polestar Motors disbanded its public relations department
According to news on July 17, a car blogger recently revealed that "Polestar's public relations department has been disbanded, and the remaining functional departments will be moved to Nanjing." The blogger was shocked by this, so she checked with her friends from Jiexing. The result of multiple verifications is that this news is true, and the public relations department has basically left. Currently, there is only one person left in the public relations department, who is in Shanghai. The social security relations department has been moved to Nanjing, and the functional departments will subsequently be moved to Nanjing. But then, the chairman and CEO of Polestar Technology @沈子宇 replied to the blogger that w88 login was not true, and what I said was true. The functional departments were moved to Nanjing because Nanjing strategically invested in Polestar, and Polestar Technology was relocated as a whole.
Li Auto product line manager: The order volume announced by car companies cannot be verified or falsified
According to news on July 17, Li Auto has released the weekly sales list of new forces every Tuesday afternoon since March last year. Although there was a break in the middle of this year, w88 login has returned to normal. However, this data is actually controversial, and netizens have doubted its authenticity more than once. This afternoon, Zhang Xiao, head of Li Auto’s product line, explained the list data. The statistics of the automobile industry are probably the most standardized and complete. From production capacity planning to capacity utilization, from wholesale volume reporting to dealer inventory statistics, from retail volume reporting to compulsory traffic insurance volume, as well as import and export and second-hand car circulation, every link in this industry has official statistics endorsed by the government.
There is no way to falsify these data. We can tell who is true and who is false among the numbers everyone discusses every day in a minute. However, there is one number that cannot be verified or falsified, and that is the order volume. Because there is no unified standard for order volume, w88 login is internal data of the company and an internal process indicator in automobile circulation. In principle, the company has no obligation or responsibility to publish w88 login. For listed companies, all disclosed data must be reviewed by the corresponding regulatory agencies, and you can’t just say as much as you want. But if w88 login is a non-listed company, then w88 login is true that only God knows and you know.
Zhixing Automotive Technology responded to a one-day plunge of nearly 70%: Operations are normal and measures to protect stock prices will not be taken for the time being
Financial Associated Press, July 17th, Zhixing Automotive Technology fell 68.29% to HK$26.40 per share, with the latest market value of HK$5.975 billion. The reporter called Zhixing Automotive Technology as an investor, and relevant people responded that the company is currently operating normally and nothing has happened that would cause market concern. When asked whether measures such as buybacks would be taken to maintain the stock price, the person said that no countermeasures would be taken for the time being and that all the company's work was in progress.
Four laser radars are standard! The sixth generation of Luobo Kuaipao autonomous vehicle will be launched on the market this year
Quai Technology reported on July 17 that Baidu’s Luobo Kuaipa driverless taxi has attracted widespread attention in Wuhan recently. These taxis use Baidu's Apollo fifth-generation autonomous driving system and are equipped with Hesai Pandar series lidar. Sai Technology announced that the sixth-generation Baidu Apollo unmanned vehicle will be put on the market this year, equipped with sixth-generation intelligent system solutions. The cost of the vehicle is 60% lower than that of the fifth-generation vehicle, and the price is 204,600 yuan. The new generation of Baidu Apollo unmanned vehicle - Yichi 06, has main lidar exclusively supplied by Hesai. The bike is equipped with four ultra-high-definition long-range lidar AT128, with a detection range of more than 200 meters, achieving 360° high-definition three-dimensional perception coverage. This marks the first time in China that the ADAS semi-solid lidar solution has been applied to Robotaxi on a large scale, and four can meet the high-precision perception requirements of L4 level autonomous driving.
Xpeng M03, the first car in the MONA series, is equipped with 16GB of memory as standard, and is known as "young people's cars must also be flagships"
w88 login House reported on July 17 that He Xiaopeng, chairman of Xpeng Motors, said today that everyone is talking about the intelligent car and machine, but few people pay attention to the performance of the car and machine. The entire Xpeng MONA M03 series comes standard with 16GB of memory. Xiaopeng claims that "young people's cars must also be flagships." Xiaopeng MONA M03 will be officially launched in August and is said to be priced under 200,000 yuan. w88 login has a 1.31 aspect ratio + electric hatchback tailgate; 0.194 wind resistance + "super large" AGS active air intake grille; equipped with a 621L trunk; and "010" split three-dimensional space star light group + low saturation car color.
Lei Jun asked about the price increase of BBA, netizen: I can’t stand being sucked in by you
Quick Technology reported on July 17 that Xiaomi CEO Lei Jun’s fifth annual speech will be held at 19:00 on July 19. In the past few days, Lei Jun is making final preparations for the speech. This afternoon, Lei Jun posted on Weibo: "I have been busy preparing for the annual speech these days. I just saw that the most popular search in the car circle today is "BBA price increase". What's going on?" Many netizens said in the comment area: You can't stand BBA. You can't stand w88 login if you let w88 login go up. w88 login's not as strong as SU7. Afterwards, Lei Jun replied with several dog-headed triples. Some media reported that a salesperson at a Mercedes-Benz 4S store said that "prices will definitely increase in the future." An Audi dealer said that the prices of main-selling models such as Audi Q5L and Audi A6L will increase slightly, and will be increased in the future. This means that BBA (Mercedes-Benz, BMW, Audi) will soon withdraw from the "price war" in the Chinese market. NIO insiders also revealed that w88 login is preparing to withdraw from the price war next week.
▍Xiaomi SU7 car push HyperOS 1.2.3 version update: new traffic light reminder and other functions
w88 login House reported on July 17 that the Xiaomi SU7 car has launched HyperOS 1.2.3 version update, which brings many new functions such as traffic light reminders, and optimizes the brake disc high temperature alarm reminder. On July 12, Xiaomi Motors obtained independent production qualifications, and the "Beijing Xiaomi" on the tail mark of Xiaomi SU7 was officially changed to "Xiaomi".
National Energy Administration: Carry out charging infrastructure construction and application promotion in 33 counties/74 townships
On July 17, the General Affairs Department of the National Energy Administration issued a notice on selecting some counties and rural areas to carry out charging infrastructure construction and application promotion activities. w88 login was decided to select 33 counties (county-level cities, counties, autonomous counties, banners) including Daming County in Handan City, Hebei Province, and 74 townships (towns) including Dabeijiangu Town, Ninghe District, Tianjin City to carry out charging infrastructure construction and application promotion activities. The departments responsible for the management of charging facilities in each province (autonomous region, municipality directly under the Central Government) must strictly implement the main responsibilities for promoting construction work, strengthen organization, coordination and supervision and management, report work progress to our bureau on an annual basis, and conduct a summary and evaluation by the end of 2025.
International
The United States will introduce new restrictions on Chinese automotive software in August
According to a Reuters report on July 16, a senior U.S. official said on the same day that the U.S. Department of Commerce plans to release proposed rules for connected cars next month and is expected to impose restrictions on some software produced by China and other countries considered rivals.
Alan Estevez, head of export controls at the U.S. Department of Commerce Estevez said at a forum in Colorado: "We are considering (imposing restrictions) on some parts and software. Although not the entire car, some management software and key driving components for managing car data must be produced in (U.S.) allies." Some analysts believe that although China does produce some components such as cameras, microcontrollers and sensors for cars sold in the United States, w88 login is very difficult to obtain data directly from these devices and software. These components are integrated into systems manufactured primarily by non-Chinese component suppliers such as Bosch and Harman. But the privacy regulator in California said w88 login would examine more and more data collected by smart cars in July this year.
Tesla and SpaceX move their headquarters to Texas
Viewpoint News, on July 17, Tesla and SpaceX CEO Elon Musk announced that the two companies would move their headquarters from California to Texas. Tesla had previously moved its headquarters from Delaware to Texas in mid-June.
Ai Rui Platinum: The cost advantage of Chinese automobile brands is as high as 35%, which can offset the impact of tariffs in Europe
China Business News reported on July 17 that the "Global Automotive Market Outlook" report recently released by the American consulting company Ai Ruibo showed that Chinese automobile brands have a cost advantage of up to 35%, which allows them to flexibly lower selling prices in Europe to offset the impact of tariffs. This advantage stems from lower labor costs and a high degree of vertical integration in all aspects, covering the entire process of raw materials, parts suppliers, final assembly and sales. The above-mentioned report pointed out that with a cost advantage of up to 35%, some Chinese pure electric vehicle OEMs can still withstand higher EU tariffs and achieve positive profit margins at the same price as local EU competitors. In contrast, the current price of pure electric vehicles in Europe and the United States is 35% to 55% higher than that of fuel vehicles of the same level. Dai Jiahui, partner and managing director of Arrow, said that European tariff restrictions focus on the field of pure electric vehicles, and in other powertrain vehicle fields, Chinese cars will further go global.
GAC Aion’s first overseas factory was completed in Thailand, and the second-generation AION V car rolled off the assembly line globally
w88 login Home News on July 17, at today’s completion of the GAC AION Thailand smart ecological factory and the simultaneous global roll-out of the second-generation AION V, Zeng Qinghong, chairman of GAC Group, delivered a speech. He said that the sales of electric vehicles in Thailand grew very fast last year, and he believed that GAC Group’s investment in Thailand could achieve a win-win situation. Zeng Qinghong introduced that GAC Group’s global sales will exceed 2.5 million vehicles in 2023. New energy vehicles are an important strategy of GAC Group, and GAC Aion is the core carrier of GAC Group’s development of new energy vehicles. GAC Aian will be deployed in 68 countries and regions, 5 core markets in Europe, Asia Pacific, the Middle East, Africa, Central and South America, and 3 overseas factories to achieve parallel vehicle exports and localized production. At the end of the event, GAC Aion officially announced the completion of the smart factory in Thailand, and the second-generation AION V, the first global strategic model, rolled off the assembly line globally simultaneously. w88 login is reported that the annual production capacity of the Aion Thailand smart factory in the first phase is 50,000 vehicles, and will gradually expand to 100,000 vehicles in the future, enabling co-line production of multiple GAC Aion models such as the second-generation AION V, AION Y Plus, and Haopin HT.
GAC Energy signed a cooperation framework agreement with Thailand Spark EV
GAC Energy News, on July 17, GAC Energy Technology (Thailand) Co., Ltd. and Spark EV Co. Ltd. signed a cooperation framework agreement. The two parties will jointly invest in the construction and operation of super charging stations in typical energy supplement demand scenarios such as transportation hubs, gas stations, and intercity travel trunk lines across Thailand. At the same time, we will carry out all-round exploration in the fields of integrated energy storage and charging, cross-industry integration, digitalization, and vehicle-network interaction; we will work together to promote the integrated development of Thailand's transportation network and energy network, build a diversified energy supply space that integrates functions such as optical storage and charging, leisure coffee, and new energy vehicle experience marketing, and take the lead in building demonstration projects in Thailand to build a new energy ecology integrating people, vehicles, energy, and life. The first batch of nine projects from both parties have completed survey and started construction.
BMW obtained CCC Digital Key digital key certification
On July 17, we learned from the official that the BMW Group became the first automobile manufacturer to obtain CCC Digital Key certification. This certification is based on the highest requirements of the CCC (Car Connectivity Consortium, Global Car Connectivity Alliance) for the security and interoperability of vehicle-to-device access, and confirms that BMW’s digital key function meets its requirements. Currently, BMW’s BMW Digital Key Plus function based on UWB ultra-wideband technology has covered the two major platforms of Android and iOS.
The secondary issuance of Honda stock is priced at 1,664.5 yen per share, with a transaction valuation of US$3.16 billion
Zhitong Finance News, Honda Motor said on July 17 that w88 login would price its secondary issuance of shares at 1,664.5 yen ($10.58) per share, a 3% discount to Wednesday’s closing price, and a transaction valuation of 497 billion yen ($3.16 billion). This includes over-allotments triggered based on demand. Insurance companies and financial firms including Tokio Marine, Matsunami and Mitsubishi UFJ plan to sell up to 300 million Honda shares.
Ferrari’s first pure electric model will be unveiled at the end of next year, and the CEO said w88 login will not use lithium iron phosphate batteries
w88 login House reported on July 17 that Ferrari’s first pure electric model has completed thousands of kilometers of road testing. The company’s CEO, Benedetto Vigna, promised that the car will be built in the “right way” to ensure that car owners can “have great fun.” The Italian supercar maker has yet to reveal specific details of its first all-electric model, but Vigna confirmed the car will be unveiled late next year and go on sale in 2026. Ferrari's all-electric models will be produced at its new energy plant E-building in Maranello, which will be put into operation in January 2025. w88 login will initially produce the Purosangue and SF90 models, and then join the all-electric model production line in 2026. Ferrari will also independently produce core components for electric vehicles to ensure product differentiation and long-term service capabilities. In terms of batteries, Vigna said Ferrari will purchase battery packs from multiple suppliers, but made w88 login clear that w88 login will not use lithium iron phosphate batteries.
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