1. NEVS Co. Ltd to invest 20 billion yuan in Shanghai for NEV operation
NEVS signed an investment agreement with Songjiang district government of Shanghai, GSP Ventures and TJ Innova Engineering & Technology Co., Ltd in a project for the R&D, production, test, assembly, sales and operation of new energy vehicles. The project will be located in the G60 science and technology innovation valley, and capable of producing over 200,000 cars per year. The project includes a NEV assembly project and three research projects with an investment of over 20 billion yuan.
2.Changjiang Automobile to build hydrogen fuel commercial vehicle base
Wulong Group's Hangzhou Changjiang Automobile Holdings Co., Ltd. ("Changjiang Automobile") and Foshan Nanhai District government (in Guangdong province) have reached a collaboration agreement to build hydrogen fuel commercial vehicle base and Hydrogen Power (Foshan) R & D Center. The production base in Nanhai expects to achieve a production capacity of 60,000 units covering electric vehicle and hydrogen fuel vehicle (including vans, passenger vehicle and logistics car). Cao Zhong, the president of Changjiang Automobile, claimed that the life in 2017 of hydrogen fuel cell engine developed by changjiang automobile has jumped from 1000 hours to 7000 hours. In 2018, it will reach 10,000 hours, reaching the commercial application demand. The base will become the world's largest hydrogen fuel and “hydrogen & electric” energy vehicle production base.
3. China National Development and Reform Commission: NEV may have price cut due to tariff reduction of imported car
Recently, Liu Heming, the vice-chairman of National Development and Reform Commission made it clear that China would reduce the tariff of imported car. Before that, China has reduced import tariff on 187 kinds of goods. Besides, there is news that it is in fact the consensus between the USA and China in the meeting in last November. It is predicted that the decline would be about 10%.
According to statistics, the sales of imported cars was about 1.2 million units in 2017, with year on year growth of 18%. People are concerned about how much the imported cars would be after the adjustment and influence on sales volume of Chinese vehicles.