Xiaomi’s New EV Model in Focus: SU7 Deliveries Update

Xiaomi is gearing up for a new electric vehicle (EV) model, set to possibly rival Tesla by 2025. The company's current priority lies in delivering its SU7 sedan, with different versions available. Xiaomi's president hinted at the upcoming SUV model but remained tight-lipped on details. The EV arm, Xiaomi EV, targets a substantial unit delivery in 2024. Exciting developments ahead as Xiaomi steps up its game in the EV market. Source

Xpeng Sales Chief Replaced: Wholesale Model Challenges Ahead

Xpeng's sales chief gets replaced amid challenges with its wholesale model, which is facing resistance and internal concerns. Former VP Gu Yuanqin steps in as head of sales, navigating the shift to a dealer-dependent approach. The company's ambitious sales target of 280,000 units for the year poses a tough road ahead, as monthly sales struggle to surpass 10,000 units. Will Xpeng meet this uphill battle and secure its position in the competitive EV market? Source

CATL & Neta Forge 10-Year EV Partnership Deal

CATL and Chinese EV startup Neta strike a 10-year strategic partnership deal from 2025-2034. Neta selects CATL as its preferred partner for vehicle power batteries, aiming for market leadership. The agreement covers areas like zero carbon, battery swap, and V2G. Neta's new model will feature CATL batteries and cutting-edge technology. CATL, the world's largest EV battery maker, aims to fend off competitors through strategic collaborations with companies like Nio and Volvo. Source

Mitsubishi Motors Approved to Export Power to Grid

Mitsubishi Motors granted permission to export power to the grid in South Australia through its electric vehicles like Outlander and Eclipse Cross, making them money with vehicle-to-grid technology. Partnering with Jet Charge, it's the first carmaker in Australia to win such approval. Bi-directional charging technology enables cars to export stored energy back to the grid. This innovation aims to enhance renewable energy deployment, reduce CO2 emissions, and contribute to grid stability. V2G technology shows great promise for future energy solutions. Source

GAC Aion Expands to Tajikistan & Nepal Markets

GAC's Aion brand makes waves with Aion V launch and export plans. Already reaching Tajikistan and Nepal, aiming for 10 countries by year-end. GAC solidifying global presence with new production and marketing bases. First Aion Y cars delivered to Tajikistan in historic move. Entry into Nepalese market with Aion Y hitting the showroom floor. Southeast Asia in the brand's crosshairs with expansion into Thailand and Indonesia. Full-stack development for electric cars sets Aion apart in the market. Baby steps now, but big export potential on the horizon for GAC's Aion. Source

Luxury EV maker Lucid (LCID) trims US workforce for Gravity SUV launch

Lucid (LCID) cuts 6% of US workforce, about 400 jobs, to restrategize costs before launching the Gravity electric SUV. The CEO emphasizes the decision's necessity for future growth and positions the company for success. Job cuts focus on all levels except hourly manufacturing and logistics, with an expected $21-25 million in charges primarily incurred in Q2. Despite stock decrease, Lucid remains optimistic, aiming to expand its market with upcoming SUV models and securing significant liquidity for future ventures. Source