[Understand the way of the car, smell the car every day] Let’s take stock of what major events happened in the automotive industry on September 13, 2022.
Automotive Event 1: Volvo Registers Electric Vehicle Trademark
The next generation of Volvo XC90 is rumored to be called "Embla" – a way of doing away with the letter and number naming rules Volvo has used on cars for decades – and now Volvo is planning a series of new names for all-electric products.
The European Union Intellectual Property Office has revealed a series of patent applications, and Volvo appears to be planning to replace its current model lineup with pure electric models. It doesn’t look like the new naming scheme will change much to the structure of the current lineup, such as the EXC90, EXC60, EXC40 and EC40, etc. These are likely to be pure electric versions of the current SUV lineup. The same is true for Volvo’s sedans and wagons, such as the ES60, ES90, EV60 and EV90 are already registered.
Not only that, but we have also seen Volvo register trademarks for the EX30, EX40, EX60 and EX90. This move does not rule out Volvo’s intention to bring these products into production. Currently, Volvo’s new SPA2 platform can accommodate all-electric vehicles from the S60 to the XC90.
It is worth noting that Volvo previously announced that it will transform into a pure electric luxury car company by 2030, and Volvo plans to achieve the global sales target of 1.20 million vehicles by 2025, of which at least 50% will be pure electric vehicles.
Automotive incident 2: Changsha BYD chip production line completed installation
A few days ago, we learned from Hunan Daily that Changsha BYD Semiconductor Co., Ltd.’s 8-inch automotive chip production line successfully completed the installation on September 5 and began production debugging. It is expected to be officially put into production in early October and can produce car-grade chips 500,000.
BYD Automobile released a sales report for August. Data show that BYD’s car sales in August were 174,915 units, an increase of 155.2% year-on-year. Specifically, BYD’s car passenger car sales in August were 173,977 units, an increase of 157.2% year-on-year. Among them, BYD’s DM model sales were 91,299 units, and EV model sales were 82,678 units.
Auto Incident 3: Lantu Auto Officially Reveals Capital Increase Information
A few days ago, the information of Lantu Auto’s capital increase project was officially disclosed on the Shanghai United Equity Exchange. This capital increase is the first external equity financing since the establishment of Lantu Auto. It will further optimize the equity structure of Lantu Auto, stimulate the vitality of the enterprise market, and accelerate the reform process of the system and mechanism of state-owned enterprises.
Before the capital increase, 89.66% of Lantu Automobile was held by Dongfeng Motor Group’s joint stock company (referred to as "Dongfeng Group"), and 10.34% was held by Wuhan Waya Enterprise Management Consulting Partnership (Limited Partnership) (referred to as "Employee Stock Ownership Platform"). After this round of capital increase, it is expected that Dongfeng Group will hold no less than 77% of the equity, strategic investors will hold no more than 15% of the total equity, and the employee stock ownership platform will hold no less than 8% of the equity.
Auto Event 4: SIA assesses investor demand for $2 billion IPO
Recently, according to domestic media reports, power battery manufacturer China Innovation New Airlines has begun to evaluate investor demand for its 2 billion US dollars (about 13.853 billion yuan) IPO plan after hearing through the Hong Kong Stock Exchange, from September 12 to September 22.
It is understood that the funds raised by SIA through this IPO will be used for the construction and expansion of multiple production bases, research and development, Working Funds and general corporate purposes. In the first quarter of this year, SIA’s revenue was 3.897 billion yuan, compared with 1.063 billion yuan in the same period last year; gross profit was 320 million yuan, compared with 140 million yuan in the same period last year.
"Daily Car News", here are the latest car news of the day, please continue to pay attention to "The Way to Know Your Car".