With ZXZC Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

SAIC-backed premium car brand IM plans open financing

IM Motor, a premium car joint venture among SAIC Motor, Alibaba Group and Zhangjiang High-Tech, has set a plan for an open financing, Liu Tao, co-CEO of IM Motor, recently said.

IM L7; photo credit: IM

HOZON Auto releases interior images of NETA S

HOZON Auto has released photos of the interior of its all-new sedan model, the NETA S. The pictures show that the new model features four connected displays, a three-spoke steering wheel, an AR-HUD, and a panoramic sliding sunroof.

Photo credit: NETA

EVE Energy intends to build power battery manufacturing plant in Hungary

Chinese battery maker EVE Energy recently announced that it had signed a letter of intent with a subsidiary of the government of Debrecen, Hungary to purchase real estates from the latter and build a power battery manufacturing plant in Hungary.

Jiangling Motors sees 2021 net profit grow 4.26% YoY

Jiangling Motors Corporation, Ltd (JMC) said its annual revenue in 2021 grew 6.42% year on year to 35.221 billion yuan ($5,54 billion) and its full-year net profit attributable to shareholders rose 4.26% to 574.166 million yuan ($90.3 million).

Pony.ai's logistics joint venture CYANTRON to start operation on April 1st

On March 30th, China’s autonomous driving startup Pony.ai announced that its joint venture with Sinotrans Limited, namely CYANTRON, is officially registered and will start operation on April 1st.

Li Auto's L9 equipped with self-developed AD Max intelligent driving system

Li Auto's second production model, the L9, is powered by its self-developed intelligent driving system, the Li Auto AD Max, the automaker announced on March 30th.

BYD's annual revenue in 2021 leaps 38.02% YoY, but net profit falls 28.08%

BYD Company Limited (“BYD”) saw its annual net profit attributable to shareholders dwindle 28.08% year on year to 3.045 billion yuan ($479 million) in 2021, according to the company's announcement.

NIO to launch sixth mass-produced model at end of May

Chinese EV startup NIO will launch its sixth production model, the ES7, at the end of May this year, Qin Lihong, co-founder and president of NIO, revealed on March 30.

Ningbo Tuopu Group projects at least 41% YoY jump in net profit in Q1 2022

China's leading auto parts supplier, Ningbo Tuopu Group projected a 50% to 54% year-on-year surge in revenue in the first quarter of 2022, according to the company's performance preannouncement released on March 29th.

Li Auto's CEO calls for mandatory AEB system on new vehicles

With L2 autonomous driving functions being broadly applied to China’s passenger vehicles, Li Auto’s founder and CEO, Li Xiang, proposed that new vehicles should come standard with the AEB system at the 2022 China EV100 Forum.

Great Wall Motor scores 25.4% YoY jump in 2021 annual net profit

Great Wall Motor's business strategies helped the company bring in RMB136.4 billion ($21.43 billion) annual revenue in 2021, jumping 32.04% year over year, according to its 2021 annual report released on March 29th.

Baidu Apollo's founding member joins local autonomous driving startup Pegasus

On March 30th, China's young autonomous driving startup, Pegasus, announced that the former vice president of Baidu, Wang Jing’ao joined the company as its co-founder and CTO.

SAIC-backed premium car brand IM puts L7 Pro onto market

IM Motor, a joint venture among SAIC Motor, Alibaba and Zhangjiang High-Tech, announced on March 29 the initial version of the IM L7, the IM L7 Pro, hit the market at a guiding price of 408,800 yuan ($64,300).