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Summary

Dongfeng solid-state battery
Dongfeng solid-state battery (Auto China 2024)

  The China Association of Automobile Manufacturers (CAAM) announced on July 10, 2024, that vehicle sales volumes in China showed a 6.1% year-over-year (y/y) increase to 14.047 million units during the January to June period of 2024. Of this total, passenger car sales increased 6.3% y/y to 11.979 million units, commercial vehicles increased 4.9% y/y to 2.068 million units, and New Energy Vehicles (NEVs) grew 32.0% y/y to 4.944 million units, accounting for a market share of 35.2%.

  This report presents significant trends and activities of Chinese and foreign automakers in the Chinese market in the second quarter (Q2) of 2024. Several Chinese automakers are accelerating their promotion of solid-state batteries for volume production, with SAIC Motor Corp., Ltd. (SAIC) planning to start production of solid-state batteries in 2026 and Guangzhou Automobile Group Co., Ltd. (GAC) planning to install solid-state batteries in its vehicles in 2026. Dongfeng Motor Corporation also unveiled its next-generation solid-state battery at the Auto China 2024 motor show in Beijing. In addition, NIO Inc. (NIO) officially launched the new Onvo (short for On Voyage) sub-brand for intelligent electric vehicles, and also agreed to a partnership with several automakers in the battery charging and swapping business. Automakers such as FAW Group Corporation (FAW), Dongfeng Motor Corporation (Dongfeng), Guangzhou Automobile Group Co., Ltd. (GAC), and Great Wall Motor Co., Ltd. (Great Wall Motor) have agreed to strategic alliances in the smart technology fields with technology companies such as iFLYTEK Co., Ltd. (iFLYTEK), SZ DJI Technology Co., Ltd. (DJI), Tencent Holdings Limited (Tencent), and Huawei Technologies Co., Ltd. (Huawei).

  Foreign (non-Chinese) automakers have also agreed to strategic partnerships with major Chinese Internet companies in the smart technology fields. Toyota Motor Corporation (Toyota) will deploy Tencent's AI, cloud, digital ecosystem and other capabilities. Nissan Motor Co., Ltd. (Nissan) and Baidu Online Network Technology (Beijing) Co., Ltd. (Baidu) will study the feasibility of a strategic alliance in the areas of AI and intelligent vehicles. Hyundai Motor Company (Hyundai) and Baidu will partner in areas such as intelligent connected cars and autonomous driving. In addition, Volkswagen (VW) also announced its strategic plan for the Chinese market, stating that it will launch 40 new models within the next three years.

 

Related reports:
BYD's e-Platform 3.0 Evo (Jul. 2024)
Green and Smart Auto Shanghai 2024 (Jul. 2024)
SAIC Motor New Energy Technology Conference (Jul. 2024)
Chinese Market Q1 2024 (May. 2024)
Chinese Market 2023: Sales Exceed 30m; BYD Dominates NEV Market (Mar. 2024)

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