Electric Vehicles

Battery X Metals’ subsidiary, Battery X Rebalancing Technologies, enters a Commercial Revenue Share Agreement with a Vancouver auto service center specializing in Tesla vehicles. This agreement marks the first commercial deployment of their Prototype 2.0 lithium-ion battery rebalancing machine. Battery X will receive 20% of gross service revenue per rebalancing procedure. Trials saw Prototype 2.0 restore an electric truck’s driving range from 40km to 295km, a 637.5% improvement. This collaboration generates early revenue with no direct operating expenses and validates the platform’s commercial potential.

A Weibo hashtag “HarmonyOS Grand Hotel” is trending in China, spotlighting unique perks for Harmony Intelligent Mobility Alliance (HIMA) EV owners. Users are sharing photos of elaborate meals offered at HIMA authorized user centers. HIMA’s Weibo account encouraged car owners to “come home for a meal,” showcasing culinary offerings. These centers provide free charging, car washes, maintenance, and complimentary dining, enhancing the ownership experience. This strategy aims to build brand loyalty in China’s competitive EV market by transforming traditional service centers into comprehensive hubs.

CATL executive Shi Wei advocated for battery-swap capable EVs as second cars at the China Automotive Forum. He compared current battery ownership, which degrades irreplaceably with the car, to a marriage. Wei highlighted swapping’s ease, especially for groups like female drivers who avoid the physical hassle of charging. Swapping stations replace depleted batteries in minutes without manual handling. This enhances convenience for all secondary EV buyers, as CATL pushes adoption to alleviate range anxiety and reshape the market. CATL Service is the subsidiary driving these technology solutions. (94 words)

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.