Market Chatter: EV Maker Jiyue to Downscale Operations

MT NewswiresDec 13 05:05 ET

Geely and Baidu issued a joint statement regarding Jiyue Autos: they will address the issues of employee social security contributions and compensation for departing employees as soon as possible.

Jingwu Finance | On December 13, Geely and Baidu issued a joint statement regarding Ji Yue Autos, and as Shareholders, will actively assist the management of Jidu in properly handling related matters: promptly resolving employee social security contributions, and compensation issues for departing employees; maintaining users' normal vehicle use, after-sales service, and maintenance; promoting reasonable and legal resolutions for Other matters. Geely and Baidu completed the transfer process internally on the evening of December 12, paying social security for Ji Yue employees for November. Jidu Automotive Co., Ltd. is a startup company established by Geely Holding and Baidu Holding, exploring innovative products for the intelligent transformation of Autos. Ji Yue Autos production.

Jinwu Financial NewsDec 13 05:03 ET

Express News | China's Geely, on Ji Yue Auto:Baidu and Geely Are Solving Employees' Social Insurance Payment Issues

ReutersDec 13 04:38 ET

Ping An Securities: The era of extended-range vehicles 2.0, resonance of expansion and iteration.

The trend of range extender vehicle expansion is certain, and technological iterations (higher pure electric range, super-fast charging, and improved low-temperature performance) along with cost advantages will provide range extender vehicles with several times the capacity for expansion in the medium to long term.

Zhitong FinanceDec 13 02:45 ET

A year-on-year increase of 32%! Global electric vehicle sales have set historical highs for three consecutive months, with China accounting for 70% of the market.

The performance of the China market is impressive, with sales in November growing by 50% year-on-year to reach 1.27 million vehicles, accounting for about 70% of Global total sales. Overall Auto sales in China for November increased by 16.6% compared to the previous year, marking the highest growth rate since January this year. BYD is expected to exceed the annual Global sales target and surpass Ford and Honda.

wallstreetcnDec 12 22:04 ET

China's Auto Sector Gets Boost From National Trade-in Policy in November

MT NewswiresDec 12 03:16 ET