1.BYD Hungary Plant Expected to Begin Production in Late 2025

According to Reuters, Hungary's Chief of Staff, Gergely Gulyas, confirmed that BYD and BMW’s automotive plants under construction in Hungary are on track to begin production in the second half of 2025, boosting the country’s economy.

2.Lifan NEV Reduces Registered Capital by 99.48%

Tianyancha records show that Chongqing Lifan New Energy Vehicle Co., Ltd. recently reduced its registered capital from 1 billion yuan to 5.2 million yuan, a dramatic 99.48% decrease.

3.Mercedes-Benz Showcases New Intelligent Domain Control Architecture

At the Guangzhou Auto Show 2024 Tech Innovation Day, Mercedes-Benz unveiled its latest technologies, including pure electric off-road innovations, a next-generation intelligent domain control architecture, and internally conducted EV crash tests.

4.XPeng Increases Production Capacity for MONA M03 by 30%-40%

XPeng’s CEO, He Xiaopeng, announced plans to increase production capacity for the M03 model by 30%-40% in November and December to address delayed deliveries. Affected customers will receive compensation of 150 yuan per day.

5.Neta Motors Faces Equity Freeze

Tianyancha data reveals that Neta Motors' associated company, Hozon New Energy Auto Co., Ltd., has had over 18.22 million yuan worth of equity frozen. The action involves Zhonglian Tianxia Auto Sales Services Co., Ltd.

6.Hozon Auto Lays Off Shanghai Employees and Withholds Compensation

Hozon Auto has reportedly laid off all employees from its Shanghai branch and failed to pay the agreed severance packages. Former employees claim compensation remains unpaid since the layoffs.

7.BYD Unveils Interior of New MPV Model “Xia”

BYD’s upcoming MPV “Xia” debuted its interior design featuring a 2+2+3 seven-seater layout and the company’s fifth-generation DM technology. The model is expected to launch in Q1 2025.

8.FAW-Audi A5L Premieres

The new FAW-Audi A5L is the first model introduced under Audi’s new naming system, built on the next-gen PPC fuel-based platform. It is slated for release in 2025.

9.LeDao L60 Aims for December Deliveries Exceeding 10,000 Units

LeDao Motors President Ai Tiecheng announced that the L60 model has surpassed 7,000 deliveries as of November 14. The company aims to deliver over 10,000 units in December and 20,000 units monthly by March 2025.

10.General Motors to Lay Off Nearly 1,000 Employees Globally

Reuters reported that General Motors plans to cut nearly 1,000 jobs worldwide, with most layoffs occurring in the U.S., as part of an effort to streamline operations.