Japanese auto parts manufacturer HKS to set up r&D base in China; Nengchain Smart Electric landed on NASDAQ and became the first share of charging services in China

(Nengdong, June 13, 2022) -- HKS, a Japanese manufacturer of new energy vehicles and automotive parts, will set up a research and development base in China. This will be the second overseas base after Thailand and will reduce product development time for China by about 30%. HKS will expand its share of the Chinese market as Chinese incomes rise and demand for automotive modification parts, mainly among the affluent class. HKS plans to increase the number of supported models launched in the Chinese market to about 15 within five years, which will triple to the current level. The goal is to increase the proportion of sales in foreign businesses from the current 30% to about 50%. ENES Holdings (ENEOS) announced that it has acquired the EV charging services business from NEC in response to the popularity of pure electric vehicles (EVs). The company took over the operation of about 4,600 EV charging piles and started business on the 1st. As gasoline demand is expected to decrease, Inductive aims to expand its EV charging business and build it into a revenue pillar. The purchase amount was not disclosed. Huawei launched the "Home Charging Pile" new energy vehicle charging pile, which is an AC charging pile for home users, supporting up to 11kW charging specifications, a built-in intelligent platform that can be remotely controlled and shared with relatives, friends and family, and supports many new energy vehicles on the market, priced at 8,000 yuan. Huawei home charging pile also has a built-in 4G communication module, and supports 5.0 Bluetooth, which can support remote control, reservation power supply, software upgrades through mobile phone App, and can also set authorization management, plug and play, intelligent identification of user identity, security and anti-theft.

Nengchain Smart Electric landed on nasdaq, becoming the first stock of charging services in China and the third Chinese stock listed in the United States this year. Nengchain Zhidian is headquartered in Anji, Zhejiang. Energy Chain Smart Electric is one of the largest and fastest growing new energy service providers in China. The digital connection of energy chain intelligent electricity connects the upstream and downstream of the industrial chain, providing one-stop services for charging pile manufacturers, operators, main engine factories, etc., so as to make energy delivery more efficient. Nengchain Zhidian completed the listing through mergers and acquisitions. In February 2022, Nengchain Zhidian signed a merger agreement with Ruisi Education. On April 29, the general meeting of shareholders of Ruisi Education deliberated and approved the merger agreement with Nengchain Zhidian. On May 31, Ruisi Education submitted a related application to NASDAQ for stock code change. Tesla plans a three-to-one stock split. Meanwhile, Oracle founder Larry Ellison plans to relinquish his duties as a member of Tesla's board of directors and will step down from the company's board in August. Ellison currently owns a 1.5 percent stake in Tesla. Tesla CEO Musk currently holds a 23.5 percent stake in the company, and Vanguard Group holds a 6 percent stake in Tesla. Musk has sold a significant portion of Tesla since late 2021, in part to support his acquisition of social networking giant Twitter for about $44 billion. Tesla announced a 5-1 stock split in August 2020. U.S. commercial electric vehicle startup ELMS filed for bankruptcy protection. ELMS was listed through SPAC a year ago and its market capitalization reached $1.4 billion shortly after its listing. At the end of May, however, the company warned that there could be a shortage of funds in June. In February, then-CEO James Taylor and chairman and founder Jason Luo both resigned after the company's board launched an investigation into their stock trading practices. In March, ELMS disclosed in a regulatory filing that the company would cut about 24 percent of its workforce as it wanted to focus on its core business and become more streamlined. Sony President and CEO Kenichiro Yoshida said Sony's planned joint venture with Honda could publicly issue shares. The two companies are preparing to jointly develop electric vehicles. Kenichiro Yoshida said: "We agree that in the long run, it is better to make the joint venture independent, rather than placing it under Sony or Honda. Sony and Honda plan to form a joint venture by the end of this year, with the goal of selling the first electric car in 2025. Sony will develop in-car software and entertainment such as movie music, and Honda will provide the vehicle's own hardware and safety features. According to the International Energy Agency (IEA), the total number of pure electric vehicles (EVs) and plug-in hybrid vehicles (PHVs) sold in China in 2021 will nearly triple from 2020 to 3.3 million. One country alone surpassed the total global sales volume in 2020 (3 million units), surpassing Europe again by region and returning to the first place. Global sales in 2021 will be 2.2 times 6.6 million units. The share of pure electric vehicles and plug-in hybrids in New Vehicle Sales in China has increased to 16% from 5% in 2020. The monthly share in December 2021 reached 20%. Global demand for all-electric vehicles and plug-in hybrids remains strong, with 2 million units sold from January to March 2022 alone. According to the data released by the Association of Automobile Manufacturers in China, the delivery of new cars manufactured by Tesla's Shanghai factory in May was 32,165 units, down 4% year-on-year, and 1,152 units in April; Among them, 22,340 vehicles were exported, compared with 11,527 units in the same period last year. In addition, from January to May this year, Tesla's cumulative delivery volume was 215851 vehicles, an increase of more than 50% year-on-year. An internal production memo shows Tesla plans to produce more than 71,000 vehicles at its Shanghai plant in June. According to data released by the China Association of Automobile Manufacturers, in May 2022, with the full resumption of work and production of the automobile industry chain, the automobile market showed an accelerated recovery trend, with production and sales of 1.926 million units and 1.862 million units respectively, down 5.7% and 12.6% year-on-year, respectively. In May, production of passenger cars totaled 1.701 million units, up 5.2% y/y, and sales decreased by 1.4% y/y. In May, production and sales of new energy vehicles totaled 466,000 units and 447,000 units, up 1.1 times year-on-year, with a market share of 24.0%. Geely Automobile announced that total car sales in May were 89,070 units, down 7% from the same period last year and up about 23% month-on-month. From January to May, the cumulative sales volume was 487247 department, down 8% year-on-year. These include 8967 geometries, 11229 Lynk & Co, 4330 kryptonites, and 4030 ruilan. BYD's stock price closed up 8.19% on June 10, with a market value of more than 1 trillion yuan at 348.8 yuan per share, and the stock price hit a record high. BYD became the first auto own brand to join the trillion-dollar market value club. BYD's total market value is 1.02 trillion yuan, ranking ninth among all A-shares in the Ningde era, which is second only to the latest market value of 1.05 trillion yuan in the Shenzhen market. In the global car market value rankings, BYD surpassed volkswagen group to rank third, in the list only Tesla and Toyota Group ranked at the top of BYD. BYD held its annual general meeting of shareholders on June 8. Wang Chuanfu, chairman of BYD, said at the meeting that our opponent is fuel vehicles, and we must jointly make the cake of new energy vehicles bigger, truly replace fuel vehicles quickly, minimize the consumption of fossil energy, and achieve sustainable development. Wang Chuanfu also said that the first half of new energy vehicles is electrified, and the second half is intelligent. In the field of intelligence, the company will open up all core technologies as in the field of electrification and fully verify them. The company's increase in research and development is an established strategy, and it will maintain high-intensity research and development in the next few years, so as to continuously innovate. Great Wall Motor released production and sales data for May 2022. In May this year, Great Wall Motor sold a total of 80,062 new vehicles, an increase of 48.9% month-on-month; Among them, 12,317 units were sold overseas, an increase of 59.3% month-on-month. Haval brand sales of 41,748 units in May, up 43.3% month-on-month; Euler sold 10,768 units in May, up 248.7% month-on-month; Weipai sold 2,520 units in May, up 9.9% month-on-month. SAIC Motor announced that its output in May was 360158 units, compared with 392586 units in the same period last year; Sales in May 363591 units, compared to 406735 units in the same period last year. Among them, the output of new energy vehicles was 73,629 units, and the sales volume was 71,658 units. Changan Automobile disclosed that it produced and sold 151,100 units in May, down 18.09% year-on-year; From January to May, sales of 918,300 units, a year-on-year decrease of 10.65%, of which 66,690 self-owned brand new energy sales, an increase of 140.92% year-on-year. NIO announced its first quarter 2022 results. Quarterly revenue of 9.91 billion yuan, an increase of 24.2% year-on-year; Vehicle sales revenue was RMB9,244.0 million, up 24.8% year-on-year and slightly up 0.3% quarter-on-quarter; Net loss attributable to the Company's common shareholders was RMB1,825.0 million, down 62.6% year-on-year and 16.3% sequentially. Nio vehicle deliveries reached 25,768 units in the quarter, with deliveries up 28.5% year-on-year and 2.9% quarter-on-quarter.