OEM Trends: Recent Developments in the Automotive Industry

On July 7, according to the National Enterprise Credit Information Publicity System, Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd. announced the cancellation of its registration due to a resolution to dissolve, with the announcement period from June 10 to July 24. The company was established in March 2021, with a registered capital of 510 million RMB, focusing on automotive vehicle production and supply chain management, co-owned by NIO Inc. and Anhui Jianghuai Automobile Group Co., Ltd. Meanwhile, XPeng Motors announced the commencement of deliveries for the XPeng G7, with Chairman He Xiaopeng handing over the keys to the first batch of owners. The G7 was officially launched on July 3, priced between 195,800 and 225,800 RMB. In another development, Chery Automobile has formed a domestic business group with four divisions focusing on different product lines, while Nissan plans to start exporting electric vehicles from China to Southeast Asia, the Middle East, and Latin America beginning in 2026. Additionally, LG Energy Solution reported a projected 152% increase in operating profit for Q2 2023, despite a 9.7% drop in revenue due to a slowdown in global electric vehicle sales. Furthermore, a new mandatory national standard for passenger car braking systems will be implemented starting January 1, 2026, which includes new requirements for electric transmission braking systems and emergency braking signals.