BMW on Saturday showed off the electric, autonomous "Vision iNext" SUV in Beijing as part of a publicity tour in which the prototype car and a stage have traveled around the world in the hold of a Lufthansa cargo jet. The vehicle, with gas and brake pedals that sink into the floor during autonomous driving and touch-screen controls embedded in the rear seat cushion, hints at an electric vehicle BMW could launch among 12 fully electric models it has promised by 2025.
Tianneng Power International Limited is a Hong Kong-based investment holding company that manufactures and sells lead-acid batteries and battery-related accessories. The company manufactures motive battery products applicable to electric vehicles along with new energy storage battery products. In 2015, it won the award for best chinese electric vehicle battery brand based on customer satisfaction. In the 2017 interim report, it recorded a revenue and net profit increase of 24.8% and 13.6% as compared with the same period last year, respectively. Tianneng credits it's strength to overall strong demand of the domestic electric vehicle industry.
LG Chem, LG's electric battery making subsidiary, has formed two joint ventures (JVs) with Huayou Cobalt in China for stable supplies of cobalt for making electric batteries. The JVs will help produce enough electric batteries to power 400,000 high-performance electric vehicles (over 320 kilometers with one-charge), the company said. One will produce precursors and the other anode materials. LG will invest 83.3 billion won for 49 percent shares on the precursor JV and 156.1 billion won on the company producing anode materials for 51 percent shares. The precursors firm will be set up in Chuzhou, Zhejiang Province, and the anode materials at Wuxi, Jiangsu Province.
Such partnerships are springing up all over China, spurred by Beijing's call for the country to become a world power in electric-vehicle technology and by local governments eager to jump on the bandwagon. President Xi Jinping's Made in China 2025 plan, launched three years ago to promote "domestic dominance and global competitiveness" in 10 sectors, includes electric vehicles. There are now 487 electric-vehicle makers in China, according to the latest official tally, and most are brand new. In June, the National Development and Reform Commission and China Construction Bank announced a new $47 billion fund for EVs and other high-tech industries. Regional governments are making similar funding commitments.
The transport commission for China's tech hub Shenzhen will offer free parking in the first hour for new energy vehicles on street parking spaces, local media has said. Parking will be offered to new energy cars that are registered in Shenzhen and have received a fixed license plate number. Pure electric cars, plug-in hybrid, and fuel-cell vehicles will get the benefit. The vehicles must also be those that are allowed to park on the roadside, such as micro-, small- and medium-sized passenger cars and light-duty trucks. Users will need to register their license plate numbers to Shenzhen's parking payment app for use.