Volkswagen AG plans to invest $700 million in Xpeng and jointly develop electric vehicles in China as the German automaker fights to halt a sales slide in its most important market, Bloomberg reported today.
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Li Auto validated the solid-state battery option for more than half a year, but gave up because the cost of the pack alone was close to RMB 300,000, according to local media.
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July is traditionally a slow season for the auto market, with hot weather restricting consumers from visiting stores, the CPCA said.
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In the first half of the year, Shanghai produced 611,500 NEVs, contributing 16 percent of China's NEV production.
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The sodium shows up as a new way of Kei-car revival in China.
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