Car breakfast ｜ Reading car was enforced by 86.19 million yuan; LI responded to Wang Xing’s four-day reduction in cash of HK$ 300 million.

home news

National Energy Administration: By the end of August, the cumulative installed power generation capacity in China was about 2.76 billion kilowatts, up 11.9% year-on-year.

On September 19th, the National Energy Administration announced that by the end of August, the cumulative installed power generation capacity in China was about 2.76 billion kilowatts, up 11.9% year-on-year. Among them, the installed capacity of solar power generation is about 510 million kilowatts, a year-on-year increase of 44.4%; The installed capacity of wind power is about 400 million kilowatts, a year-on-year increase of 14.8%. From January to August, the investment in power supply projects of major power generation enterprises in China was 470.3 billion yuan, a year-on-year increase of 46.6%.

The Ministry of Transport issued the criteria for judging the hidden dangers of major accidents in road transport enterprises, which will be implemented on October 1.

On September 19th, the Ministry of Transport issued a notice, and the Criteria for Judging Major Accidents in Safety Production of Road Transport Enterprises and Urban Passenger Transport Enterprises (Trial) will be implemented on October 1st, 2023. The standard is applicable to the determination of major accidents in production safety in enterprises such as road passenger transport, road general cargo transport, dangerous goods road transport, urban rail transit operation, urban bus and tram passenger transport, taxi passenger transport, motor vehicle driver training, motor vehicle maintenance, bus terminal and so on.

Auto insurance fees meet regulatory standards again, and experts suggest that small and medium-sized companies should deepen their market segments.

On September 19th, the State Administration of Financial Supervision issued the Notice on Strengthening the Management of Automobile Insurance Expenses to the industry, demanding to comprehensively strengthen the internal management of automobile insurance expenses, comprehensively strengthen the supervision and management of commercial automobile insurance expenses, and continuously improve the market-oriented formation mechanism of commercial automobile insurance rates. Experts in the industry said that the leading effect of auto insurance business is obvious, and the moat of large companies is high. When small and medium-sized companies compete, they should cut into more subdivided areas, such as operating vehicles and new energy vehicles, and form their own competitiveness, instead of blindly fighting price wars with large companies.

Association: In August, the sales volume of commercial vehicles was 240,000, showing a negative growth of 17%.

On September 19th, Cui Dongshu, Secretary-General of the Association, issued a document saying that according to the insurance data of China, the export market of commercial vehicles has exploded in recent years, while the domestic commercial vehicle market has experienced strong growth before 2021 and recently entered a low-speed growth stage. Due to the contribution of the low domestic base from March to May last year, the domestic sales of commercial vehicles have been strong for the time being. From January to August this year, the domestic sales of commercial vehicles reached 1.88 million, up 3% year-on-year, of which the sales of commercial vehicles in August reached 240,000, showing a negative growth of 17%.

international news

President of the United Auto Workers’ Union: The union may expand the scope of the strike on the 22nd.

On September 19th, the United Auto Workers released a video through social media platform. In the video, Sean Finn, the chairman of the organization, said that before 12: 00 EST on the 22nd, if the salary agreement negotiation has not made "significant progress", the union will launch a strike in more American auto factories.

Stellantis may close 18 factories under an agreement with the United Auto Workers’ Union.

On September 19th, it was reported that the latest contract proposal made by the automobile manufacturer Stellantis to the United Auto Workers’ Federation (UAW) may lead to the closure of 18 factories in the United States, but it may also bring new investment and reuse an idle automobile assembly plant in Illinois.

In response to the countervailing investigation of electric vehicles in China to be launched by the European Union, CEO of Mercedes-Benz: It is unrealistic to divide the world and will continue to invest in China.

On September 19th, Kang Songlin, CEO of Mercedes-Benz Group, said in an interview that "the EU will launch a countervailing investigation on electric vehicles in China", "We learned from the epidemic that the supply chain may be fragile. It is completely an illusion to think that we can divide the automobile world into single areas that have nothing to do with each other. " Kang Songlin said that Mercedes-Benz has important business in China market and will continue to invest in China.

South Korea’s automobile exports increased by 28.7% in August, the highest in the same month.

On September 19th, the Ministry of Industry, Trade and Resources of Korea said that in August, Korean automobile exports increased by 28.7% year-on-year to US$ 5.29 billion, a record high in the same month. As of August, South Korea’s automobile exports maintained double-digit year-on-year growth for 14 consecutive months. In the first eight months of this year, automobile exports increased by 39.5% year-on-year, reaching 46.85 billion US dollars.

Toyota demonstrates the production technology of the next generation of electric vehicles, and the assembly time is expected to be halved.

On September 19th, Toyota Motor demonstrated the production technology of the next-generation pure electric vehicle that will be put on the market in 2026 for the first time in Aichi Prefecture, Japan. This technology is mainly "integrated die casting" in which a part of the chassis is integrally formed by a large die casting machine, and "automatic moving production line" in which the automobile moves automatically and is assembled at the same time, both of which are in the experimental stage. According to reports, after the technology is mature, the assembly time of pure electric vehicles is expected to be reduced from the current 10 hours to about 5 hours, and the number of processes and factory investment may also be reduced to half of the current one.

Contemporary Amperex Technology Co., Limited won the battery project contract in Western Australia.

On September 19th, the government of Western Australia indicated that it had signed a contract with China Contemporary Amperex Technology Co., Limited Company to provide container-type liquid-cooled battery systems for Kwinana battery phase II project and Collie battery project. Spain’s Power Electronics will provide inverters for these two projects. The statement shows that the total value of these contracts exceeds A $1 billion. The second phase of Kwinana battery project started in June and is expected to be completed by the end of 2024, which will provide 200 MW of electricity and 800 MWh of energy storage.

Enterprise news

China FAW held a strategy seminar in 2023.

Recently, China FAW held a strategy seminar in 2023. Qiu Xiandong, Chairman and Party Secretary of China FAW Group Co., Ltd., deeply analyzed the development environment and existing business shortcomings of China FAW, further clarified the strategic positioning of China FAW, the new round of "531" planning objectives and the logical follow-up of strategic planning, and made arrangements for the implementation of "531" planning. He pointed out that China FAW should anchor the development goal of world-class automobile enterprises, highlight the primary task of high-quality development, and strive to build China FAW into a mobile travel technology company that constantly creates value with innovative products and services.

LI responded to Wang Xing’s four-day reduction in cash of HK$ 300 million: personal behavior does not involve the shareholding of Meituan.

According to the website of HKEx, Wang Xingyu, CEO of Meituan and non-executive director of LI, reduced his holdings of 1,947,900 LI Hong Kong shares from September 12 to 15, with an average price ranging from HK$ 157.84 to HK$ 160.51, and cashed in about HK$ 311 million. On September 19, LI said, "This stock trading is a personal act, and the transaction accounts for a small proportion of his total shareholding, and does not involve the shareholding part of Meituan. The specific shareholding information needs to be subject to the annual report after the company’s annual report is issued."

Reading automobile was forced to execute 86.19 million yuan, and the cumulative execution exceeded 200 million yuan.

Tianyancha App shows that recently, Redding Automobile Group Co., Ltd. and its subsidiary Shandong Bidewen Power Technology Co., Ltd. added a piece of information about the executed person, with an execution target of 86.19 million yuan, and the enforcement court was Weifang Intermediate People’s Court. According to the risk information, Redding Automobile Group Co., Ltd. has 30 pieces of information about executed persons, and the total amount of execution exceeds 210 million yuan. In addition, there are information about consumption restriction orders, untrustworthy executed persons (Lao Lai) and the final case.

Volkswagen China signed a strategic cooperation agreement with JD.COM Industry.

On September 19th, audi ag (China) signed a strategic cooperation agreement with JD.COM Industry to optimize the MRO (Maintenance, Repair and Operation) material procurement process of the Group. Through the digital platform, the cooperation will cover audi ag’s seven entities in China, covering more than 14,000 MRO material purchases. By "making data flow more and goods run less", the supply chain will be unimpeded, and the cost will be reduced and the efficiency will be increased.

Investors and analysts are cautiously optimistic about the listing of US stocks seeking a valuation of 18 billion US dollars.

On September 19th, a related person close to Krypton revealed that Krypton has not yet negotiated with domestic and Hong Kong investment institutions, and its focus is still on overseas investors. As of the beginning of September, Krypton has held water testing meetings with some investment institutions in Singapore and Europe. Judging from the preliminary negotiation results, Krypton hopes to get a valuation of US$ 18 billion, which is equivalent to the current market value of US stocks of Weilai Automobile, whose latest market value has reached US$ 18.274 billion.