Major Events in the New Energy Vehicle Market This Week

This week saw significant developments in the new energy vehicle market. Xpeng Motors has committed to a 60-day payment cycle for suppliers. According to a notification from Xpeng's supply chain, the company has adjusted its payment terms to ensure payments are made within 60 days. Xpeng Chairman He Xiaopeng acknowledged the challenges but expressed optimism for the future, emphasizing the importance of stability and collaboration with partners to promote industry development. Meanwhile, 17 major automotive companies made a public commitment to keep supplier payment terms under 60 days, which has drawn public scrutiny regarding their implementation. On July 16, Tesla announced the Model Y L, set to be released in the autumn, showcasing a longer body and minor enhancements in motor performance. The Model Y has been popular since its launch and continues to attract attention with its updated features. On July 15, Geely Holding Group announced the signing of a merger agreement with Zeekr Intelligent Technology, aiming to enhance Geely's competitiveness in the smart electric vehicle sector. This merger will allow Geely to cover various powertrain types and strengthen its market presence across different segments. Li Auto has opened pre-orders for its new model, the Li Xiang i8, with a price range of 350,000 to 400,000 RMB. The CEO described the current pre-order strategy as a necessary step for market engagement and production planning. Additionally, Neta's parent company, Hozon New Energy, has begun recruiting potential investors for restructuring as it faces operational challenges. The company, which has been inactive since November 2024, still retains a workforce capable of resuming production, highlighting the need for strategic investment to navigate its financial difficulties.