“Jianyue Daily, Sep. 28”: ZhiJie RX launched, starting at RMB 259,800; XiangJie V8 opens pre-orders, starting at RMB 329,800; NIO and Geely Holding Group reach comprehensive strategic cooperation in charging and battery-swapping sectors.

• Geely Holding Group will contribute its 100% equity stake in Yiyi Interconnection plus RMB 640 million in cash to NIO Power. Upon completion of the transaction, Geely Holding Group will hold a 30% equity stake in NIO Power. Yiyi Interconnection’s battery-swapping operations for commercial vehicles will be integrated into NIO Power, which will continue enhancing the operation of the commercial-vehicle battery-swapping network to empower Yiyi Interconnection’s commercial-vehicle business. • The two parties will jointly establish unified battery-swapping technologies and standards for consumer (C-end) vehicles. Geely Holding Group will develop C-end battery-swapping models, while NIO Power will provide battery-swapping services for Geely’s C-end battery-swapping vehicles. This collaboration will further accelerate the construction of NIO’s battery-swapping network. NIO Power plans to build a cumulative total of 10,000 battery-swap stations by 2030, with an estimated annual electricity demand exceeding 10 billion kWh for the NIO battery-swapping network at that time. 2. Report: Changan Automobile establishes AD Synergy Development Department; Avatr and Deepal commence substantive integration On September 27, according to Yicai News, the integration of Changan Automobile’s two brands—Avatr and Deepal—has entered a substantive implementation phase. Specifically, Changan Automobile has announced the establishment of the AD (an acronym formed from the first letters of Avatr and Deepal) Synergy Development Department, designated as a first-tier department. Under this first-tier department, several second-tier departments—including the Planning & Cooperation Department, Market & Product Department, Human Resources Shared Center, Finance Shared Center, and General Affairs Department—have been set up to undertake corresponding business functions delegated by Deepal Auto and Avatr. Changan Automobile recommends that Avatr establish shared or collaborative centers in areas such as styling design, product development, and platform technology to handle related tasks delegated by Deepal; meanwhile, Deepal Auto will dissolve multiple business units and their subordinate organizations. 3. Report: XPeng Motors streamlines its product lines On September 28, according to 36Kr Auto, XPeng Motors has streamlined its product lines—from the original four (F, D, I, and G) down to just two (G and D), with F and I lines merged into the G line. The original G line was responsible for large SUVs such as the GX and G9L; the F line primarily covered sedan models like the P series; the D line handled MONA-series models; and the I line managed overseas products. Additionally, XPeng Motors has implemented a round of personnel adjustments: the former head of the F line retains the same job grade but now oversees product definition for the G line; the former head of the I line has shifted responsibilities to oversee XPeng’s overseas affairs—excluding overseas vehicle sales. According to the report, XPeng’s product lines are responsible for functions including product definition and R&D. Consolidating the four lines into two will help concentrate R&D resources, thereby driving cost reduction and further avoiding internal competition among products in terms of positioning and pricing. 4. SAIC Motor invests additional RMB 1 billion to deepen collaboration with Huawei Terminal On September 26, according to Xinhua News Agency, SAIC Motor and Huawei Terminal will further deepen their collaborative partnership on the Shangjie brand. In this new phase of deepened cooperation, SAIC Motor is investing an additional RMB 1 billion to upgrade the Jinqiao Shangjie dedicated factory with intelligent manufacturing capabilities. Reportedly, this facility serves as a core manufacturing hub within SAIC Motor’s overall passenger-vehicle strategy, constructed to “Industry 4.0” standards and benchmarked against globally leading automobile assembly plants. 5. Guoxuan High-Tech plans to jointly establish three overseas joint ventures with Volkswagen Group On September 28, Guoxuan High-Tech announced that the company and its wholly owned subsidiaries intend to sign investment agreements with Volkswagen Group and its subsidiaries to jointly establish three joint ventures—in Valencia (Spain), Sulejovce (Slovakia), and Kenitra (Morocco)—to build lithium-ion battery and lithium iron phosphate (LFP) cathode material production bases. The total investment for these projects is approximately €3.222 billion, of which Guoxuan’s aggregate investment amounts to approximately €1.598 billion.

€3.222 billion! Guoxuan High-Tech and Volkswagen jointly establish three overseas battery bases.

According to the announcement, the specific plans for the three projects are as follows: the Valencia (Spain) project, with an annual capacity of 29.1 GWh of lithium-ion batteries, entails a total investment of approximately €2.262 billion; upon completion of the transaction, Guoxuan will hold a 49% stake and PowerCo (Volkswagen Group’s battery subsidiary) a 51% stake. The Sulejovce (Slovakia) project, with an annual capacity of 8.4 GWh of lithium-ion batteries, entails a total investment of approximately €480 million; Guoxuan will hold a 51% stake. The Kenitra (Morocco) project, with an annual capacity of 100,000 tons of lithium iron phosphate (LFP) cathode material, entails a total investment of approximately €480 million; Guoxuan will also hold a 51% stake. The construction period for all three projects is expected to be no more than five years. Regarding capacity absorption, battery cells produced at the two battery plants will be prioritized for supply to Volkswagen’s European market, while the LFP cathode material output will be prioritized to support the aforementioned two battery factories. As of September 20, 2026, Volkswagen (China) Investment Co., Ltd. holds 24.28% of Guoxuan High-Tech’s shares, making it the company’s largest shareholder; Volkswagen Group serves as Guoxuan’s indirect controlling shareholder. Consequently, this transaction constitutes a related-party transaction. The company stated that through this joint investment with Volkswagen Group, both parties will achieve a deeply entrenched, mutually invested, and cross-layout cooperative relationship. According to its 2026 semi-annual report, Guoxuan High-Tech achieved revenue of RMB 27.776 billion in the first half of 2026, representing a 43.22% year-on-year increase; net profit attributable to shareholders amounted to RMB 1.386 billion, up 278.05% year-on-year. Among these, revenue from the power battery system business reached RMB 22.597 billion, growing 61.01% year-on-year and accounting for over 80% of total revenue—serving as the core driver of performance growth.

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