OEM TrendKuaiji reported that on June 14, Xiaomi CEO Lei Jun live-streamed tests of the standard YU7 and the YU7 GT at the Yancheng proving ground. The YU7 GT reached a top speed of 304 km/h, while the standard version completed a run at 220 km/h. Addressing online questions about the practical value of testing top speeds above 300 km/h, Xiaomi stated that such capability reflects comprehensive technical strength in chassis, battery, powertrain, and thermal management. The company noted that this provides greater safety and performance reserves, enhancing reliability and stability for everyday driving. The YU7 GT also completed 50 consecutive emergency braking stops, with distances ranging from 32 to 36 meters. It utilized the same carbon-ceramic braking system as the SU7 Ultra to resist heat fade, with discs capable of withstanding temperatures up to 1,300°C.Citing CLSA, Geely Holding Group Chairman Li Shufu stated at the 2026 China Auto Chongqing Forum that the company will further implement its five strategic pillars under the "Taizhou Declaration" framework. A key focus is clarifying the relationship between Geely Auto Group Co., Ltd. and Geely Auto Holdings Limited. Li revealed plans to systematically shut down or merge redundant entities within Geely Auto Group, concentrating superior resources to strengthen Geely Auto Holdings. This initiative aims to build a modern enterprise system with clearer governance, defined responsibilities, efficient operations, and global compliance.IT Home reported that at the 2026 China Auto Chongqing Forum, Qijing Auto CEO Liu Jiaming announced that the company has secured a license for L3 autonomous driving road tests in Guangzhou. Relevant models have already commenced L3 pre-testing on public roads in the city.IT Home reported that at the 2026 China Auto Chongqing Forum, MHero CEO Wan Liangyu remarked: "A luxury brand's moat isn't price—it's the irreplaceable value recognized by users." He stated bluntly that the price war is eroding consumer confidence, noting that buyers now view the conflict more negatively than positively. MHero, he said, will not follow the herd on price cuts. Instead, it will focus on the luxury intelligent off-road segment, channeling resources into areas that enhance customer value.IT Home reported that ORA Auto recently announced that the new ORA 7 is "on its way." According to official teasers, the ORA 7 is poised to become Great Wall Motor's first station wagon.Kuaiji reported that Nissan President Ivan Espinosa recently announced a drastic reduction in the company's new vehicle development cycle, slashing it from 55 months to 26. The first model to utilize this accelerated process will be the next-generation Skyline, slated for a Winter 2026 launch, which has already cleared the 26-month timeline. The reform draws on Chinese automakers' rapid iteration model using AI. Nissan is integrating AI across the entire development workflow and aims to apply this process to 90% of vehicle projects by fiscal year 2026.Supply Chain NewsCLSA reported that a recent statement reveals Dana Incorporated, the U.S. automotive parts and power systems supplier, has entered into a definitive agreement with intelligent power management firm Eaton to merge its operations with Eaton's Mobility segment. The deal values the combined entity at approximately $5.1 billion. Structured as a Reverse Morris Trust, the transaction will leave Eaton shareholders owning at least 50.1% of the merged company, with Dana shareholders holding about 49.9%. Under the agreement, Eaton is set to receive a cash distribution of roughly $1.1 billion, subject to adjustments for cash and debt.Jiemian News reported that HSBC recently assisted EVE Energy in securing its first European syndicated loan. The facility provides a €185 million long-term loan to EVE Energy's wholly-owned Hungarian subsidiary, funding the construction and procurement of a power battery production plant in Hungary. The syndicated loan will finance a new factory for large-format cylindrical lithium-ion cells, with an expected annual capacity of 30 GWh. This facility will mark EVE Energy's first production base in Europe.Gasgoo reported that SMEC plans to establish a joint venture in Shaoxing to construct a 12-inch mixed-signal chip production line with a monthly capacity of 50,000 wafers. Designated as the company's Phase 4 project, the total investment is approximately 20 billion yuan, with SMEC contributing 3.012 billion yuan for a 25.1% stake. This phase goes beyond simple expansion; it marks a strategic move by SMEC into two high-growth sectors—AI server power and optical interconnects—while solidifying its dominance in the core markets of new energy vehicles and industrial control.Gasgoo reported that in the Ministry of Industry and Information Technology's 408 batch of new vehicle filings, the new pure electric version of the AITO M6 features lithium iron phosphate batteries produced by Yichun Gotion Battery Co., Ltd. This move signals that Gotion High-tech has officially broken into the supply chain for core models under Huawei's HarmonyOS Mobility. Filing details indicate that Yichun Gotion Battery Co., Ltd. is providing both the cells and packs for this new AITO M6 variant.Gasgoo reported that Maxxvision and UBTECH recently signed a strategic partnership agreement in Nanjing to launch a joint venture—Xixuan Chuangzhi Technology (Wuxi) Co., Ltd.—dedicated to the R&D and mass production of embodied intelligence chips. Public filings show the JV has a registered capital of 100 million yuan, backed by listed firms including Maxxvision, UBTECH, and Fenglong Co., Ltd. Maxxvision and UBTECH each hold a 35.01% stake, making them co-largest shareholders, while Fenglong holds 4.7%. Industrial EconomyJiemian News reported that the average price of passenger vehicles in May 2026 reached 173,000 yuan, up 4,000 yuan year-on-year. Conventional internal combustion engine (ICE) prices continued their climb; while the market shrank noticeably in the mid-to-low end, the high-end segment contracted more slowly. This pushed the average from 166,000 yuan in 2021 to 188,000 yuan in 2024. However, as high-end ICE demand contracted rapidly in 2025, the average slipped to 177,000 yuan. By May 2026, it settled at 180,000 yuan, indicating that the ICE buyer base is stabilizing. Conversely, NEV average prices have trended downward, dropping from 184,000 yuan in 2023 to 180,000 yuan in 2024, and sharply to 160,000 yuan in 2025. In May 2026, the average rose to 169,000 yuan—an increase of 7,000 yuan. This dynamic of falling volumes alongside rising prices points to a structural shift in NEV consumption.Policy SituationCLSA reported that the Ministry of Industry and Information Technology and the State Administration for Market Regulation recently summoned automakers suspected of irrational competition for talks. Authorities demanded strict adherence to laws including the "Price Law of the People's Republic of China" and regulations prohibiting low-price dumping. Citing the "Guidelines for Compliance with Price Behavior in the Automotive Industry," regulators urged companies to bolster price compliance and quality control, protect consumer rights, and maintain a market order defined by fair pricing and healthy competition.National Business Daily reported that new energy vehicles are getting heavier, with large-capacity batteries pushing weights of 2 to 3 tons into the mainstream and some models nearing 4 tons. This trend has sparked debate over road wear and the imposition of "road maintenance fees." Multiple industry insiders revealed that government departments are already studying relevant policies. Beyond the distribution of road maintenance costs, the review will encompass broader tax systems related to the auto industry, aiming to modernize regulations to fit the evolving industrial landscape.
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