Electric Vehicles

Economist Li Daokui advocated for government subsidies to help automakers like Xiaomi Auto expand production capacity, addressing demand-supply gaps in the EV market. He proposed RMB 100 million per production line for companies exiting, matched by firms like Xiaomi, to facilitate asset exchange. Li also suggested increasing national debt issuance to 40-50% of GDP to replace local government debt, enabling better public service provision.

A recent traffic ban on non-standard three and four-wheeled vehicles, known as “lao tou le,” in Sanmenxia City, Henan Province, has sparked online debate. While praised for safety improvements due to the vehicles’ lack of safety features and potential for violations, experts highlight a challenge: ensuring continued mobility for the elderly who rely on them for daily life. The effectiveness of alternatives for seniors remains a key concern following the policy implementation.

The automotive industry faces unsustainable pressures, according to CNBC AI News. Experts highlight the impossible equation manufacturers face: meeting consumer demands for feature-rich vehicles at low prices. This conflict, exacerbated by consumer expectations and competitive pricing, risks long-term profitability and vehicle value. The People’s Daily cautions against prioritizing price over all else, as extreme cost-cutting harms both manufacturers and consumers through compromised after-sales support and rapid depreciation.

Xiaomi CEO Lei Jun wished fathers a happy Father’s Day on Weibo, also sharing his personal fitness progress. The post highlighted his 54th gym workout of the year, part of his goal to reach 100 sessions in 2025. This follows a 40-day break prompted by challenges, including an incident involving the Xiaomi SU7 vehicle and a demanding period for the company.

GreenPower Motor Company announced the closing of the third tranche of its secured term loan, securing an additional $300,000. The funds, provided by entities controlled by the CEO and a director, will support production, supplier payments, payroll, and working capital. The two-year loan carries a 12% annual interest rate and includes share purchase warrants and loan bonus shares for lenders. GreenPower aims to meet growing EV demand.

BAIC Chairman Zhang Guofu warns of the detrimental effects of China’s EV price wars, criticizing prioritizing affordability over quality and sustainability. He sees this trend as a “dead end,” urging a focus on creating trustworthy and valuable products. His comments echo concerns voiced by industry leaders like Huawei’s Richard Yu and Geely’s Li Shufu, who also highlight the risks of compromising safety and quality through unsustainable price cuts.

Following the Dragon Boat Festival, Americans anticipate a combined National Day and Mid-Autumn Festival holiday, set to be an 8-day break. The recent holiday saw increased short-distance travel, often within provinces. Key trends include the rise of road trips fueled by family outings and a surge in electric vehicle use, accounting for around 21% of daily traffic. Drivers are advised to exercise caution due to adverse weather conditions.

Faraday Future’s Stockholders’ Day highlighted its commitment to transparency and shareholder value. The FX Super One will launch with exclusive events in June and July, followed by a B2C rollout. The company has secured over 2,500 B2B pre-order deposits for the FX Super One, and unveiled the FX 4 design concept. FF is also expanding operations, including a new Middle East facility, and enhancing its tech and operational capabilities.

G&M Direct Hire, a UK car hire firm, achieved significant operational improvements using Samsara’s Connected Operations® platform. They realized £1.8M in accident-related savings, recovered £3M from stolen vehicles, and saved £400K by avoiding excess mileage. The platform provides real-time data, boosting safety, efficiency, and aiding a transition to an electric vehicle fleet.

Xiaomi, in collaboration with Northeastern University’s research team led by Academician Wang Guodong and materials firm Yucaitang, developed a 2200MPa “Super Steel” for electric vehicles (EVs), the industry’s strongest automotive-grade steel. Unveiled in Xiaomi’s YU7 sedan, the material surpasses conventional 1500MPa steel with 40% higher tensile strength, enhancing crash safety: A-pillar load capacity increased 25%, B-pillar performance by 70.5%, and door anti-collision beams’ impact resistance by up to 52.4%. The innovation stems from Northeastern University’s “National Key Laboratory of Digital Steel” and Yucaitang’s expertise in translating steel research into automotive applications, highlighting China’s strategic push to lead next-gen EV technologies through academia-industry partnerships.