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SAIC Motor and Huawei Technologies have signed agreements to establish an electric vehicle and battery production facility in Shanghai's Lingang New Area for their new Shangjie brand. The project aims to produce mid-to-high-end smart electric cars, with the first model, an SUV targeting young consumers, expected to launch this fall at around CNY200,000 (USD28,000). A dedicated team of over 5,000 will collaborate closely with Huawei's engineers throughout the development process.
Avatr has launched an updated version of its Avatr 11 SUV, featuring higher guide prices starting at RMB 289,900, though discounts bring the starting price to RMB 279,900. The new model includes one EREV variant and four BEV variants, with upgrades focusing on suspension and comfort, and introduces a Dark Knight Edition. The SUV maintains its dimensions and offers impressive acceleration, with the EREV variant achieving 0 to 100 km/h in 6.9 seconds and the BEV variants in as little as 3.9 seconds.
Tesla faces a critical dilemma under Elon Musk's leadership, with declining vehicle deliveries and a high stock price driven by investor faith in his self-driving claims. Despite Musk's past successes, his controversial approach and focus on autonomy over a diverse vehicle lineup have alienated customers, raising questions about the company's future. While Tesla's stock may suffer if Musk departs, many believe new leadership could revitalize the core business of electric vehicles.
Huawei has launched a supercharger with a peak charging power of 1.5 MW, marking a significant advancement in China's EV charging technology. Designed primarily for heavy trucks, it can charge from 10% to 90% in just 15 minutes, utilizing fully liquid-cooled technology for enhanced efficiency and durability. This development follows similar announcements from CATL and other companies, as the race for ultra-fast charging solutions intensifies in the electric vehicle market.
CATL has launched its second-generation "Shenxing" fast-charging battery, enabling a driving range of 520 kilometers with just a five-minute charge and reaching 80% in 15 minutes. This innovation is part of CATL's ongoing technological evolution, despite facing profit pressures from a competitive EV market. The company is also diversifying into sodium batteries to address material supply constraints and enhance its energy solutions strategy.
Avatr has officially launched the Avatr 06 sedan, priced from $28,750, marking its second sedan after the Avatr 12. The five-seater is available in both BEV and EREV variants, with a goal of achieving global sales of 400,000 units by 2027. In 2024, the company delivered 73,606 vehicles, reflecting a significant year-on-year increase.
Avatr has launched the 06 midsize sedan, priced at approximately $26,300, featuring both BEV and EREV variants. The vehicle boasts advanced battery technology, impressive range capabilities, and a luxurious interior with cutting-edge technology, positioning it as a strong competitor to the Tesla Model 3. With plans for a potential IPO in 2026, the Avatr 06 is set to play a crucial role in the brand's growth.
The 2025 Shanghai Auto Show, set for April 23 to May 2, will feature nearly 1,000 companies across 360,000 square meters. Notable debuts include Nio's sub-brands Onvo and Firefly, Xiaomi EV, and BYD's Fang Cheng Bao, with Nio and Firefly sharing booth 7A16 in Hall 7.1H. Tesla is absent from the event, continuing its trend from previous years.
Chinese battery manufacturer CATL reported a 32.9% increase in net profit for Q1 2025, reaching 14 billion yuan (US$1.92 billion), marking its fastest growth in nearly two years. Revenue rose 6.2% to 84.7 billion yuan (US$11.59 billion), ending five quarters of decline.The company, which holds a 38.2% global market share in EV battery installations, is preparing for a Hong Kong Stock Exchange listing to raise at least US$5 billion, following approval from the China Securities Regulatory Commission.
In March 2025, new energy vehicles (NEVs) achieved a historic 51.1% market share in China's passenger car sales, marking a significant 8.7 percentage point increase from the previous year. Domestic brands led this surge with a 72% NEV penetration, while joint ventures lagged at 6%. The growth is attributed to government support, evolving consumer preferences towards plug-in hybrids, and the competitive landscape reshaping as traditional automakers struggle to keep pace with local manufacturers.
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