1. Denso buys 4.5% stake in Renesas with USD 800 million
Toyota affiliate Denso announced to purchase 4.5% stake in Renesas with USA 800 million based on market prices from Innovation Network Corp of Japan (INCJ), which is a state-backed fund that owns 50.1% in the chipmaker. Denso has been expanding R&D efforts in the development of Internet of Vehicles and it claimed to invest in Californian cyber security start-up Dellfer in February.
2.Yudo Auto releases “buyback π plan” and an annual sales target of 35,000 units in 2018
Liu Xinwen, managing director of Yudo Auto, announced at a press conference in Beijing recently, that Yudo aimed to sell 35,000 units in 2018 and released “buyback π plan”. According to the plan, Yudo will buy back those vehicles with driving miles no more than 60,000 km in 3 years at 50% of the purchase price, which radically eases customers’ concerns about value maintenance of NEV. Yudo’s first model π1 launched in last October, has city and intercity version with price ranges of 138,900 - 147,900 yuan and 188,500 - 197,500 yuan respectively, and a respective driving range of 200km and 330km. Yudo also claimed that its second model π3 would be available in the first quarter of 2018.