China Auto Daily丨Leapmotor Sets Ambitious 4 Million Annual Sales Goal

China State Taxation Administration: National Day holiday new energy vehicle sales grow by 45.8% year-on-year

On October 8th, data from the Value-Added Tax (VAT) invoices released by State Taxation Administration of The People's Republic of China indacated that during the National Day holiday, the consumer market demonstrated strong vitality, with daily sales revenue in consumer-related industries growing by 25.1% year-on-year. During the holiday, the national sales volume of second-hand cars grew by 65.9% year-on-year, and the sales volume of new cars grew by 11.7% year-on-year, of which new energy vehicles grew by 45.8% year-on-year.

Ministry of Commerce of China: China is studying measures to increase tariffs on imported large-displacement fuel vehicles

On October 8th, the spokesperson of the Ministry of Commerce stated that China is studying measures such as increasing tariffs on imported large-displacement fuel vehicles. China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese industries and enterprises.

Chery plans to spin off its automobile business for a valuation of about 50 billion yuan

According to informed sources, Chery Holding is considering listing its automobile department in Hong Kong Stock market with a valuation of about 50 billion yuan. The news indicates that Chery Holding is seeking the support of banks to assist with the company's initial public offering (IPO), and discussions are ongoing, with specific details of the IPO size potentially subject to change.

Leapmotor Zhu Jiangming: Aims for an annual sales volume of 4 million vehicles and to become a world-class electric vehicle company

On October 8th, according to the official Weibo account of Leapmotor, the company’s CEO Zhu Jiangming stated that with everyone's efforts, Leapmotor’s sales in October will set a new record high, possibly reaching around 38,000 units. Currently, Leapmotor's monthly sales are over 30,000 units, and the future goal is to achieve at least 300,000 monthly sales. It is their goal to achieve an annual sales volume of 4 million vehicles, which could make Leapmotor become one of the top ten of world-class electric vehicle companies. Although there is still a long way to go, we have already seen the prospect.

Horizon Robotics passes the HKEX listing hearing

On October 8th, Horizon Robotics, a provider of intelligent driving solutions, passed the listing hearing of the Hong Kong Stock Exchange (HKEX), with Goldman Sachs, Morgan Stanley, and CITIC Construction International as joint sponsors. To date, Horizon Robotics' integrated software and hardware solutions have been adopted by 27 OEMs (42 OEM brands) and equipped in 290 models. Among them, the top ten OEMs in China have all chosen Horizon Robotics' intelligent driving solutions. In 2021, 2022, and 2023, the company recorded revenues of approximately RMB 467 million, 906 million, and 1.552 billion, with a compound annual growth rate of 82.3%; in the first half of 2024, the company recorded revenues of approximately RMB 935 million, a year-on-year increase of 151.6%.