?NIO News Today » China changes policy because of NIO » August, 25

?NIO News Today » China changes policy because of NIO » August, 25

neo stock analysis and predictions august 21st in today’s neo stock analysis and predictions china opens policy to help neo all right let’s get started as china’s used car trade grows rapidly some policies seen as potentially hindering its growth are being tweaked from september 1st 218 cities will allow used car transactions to be registered at the seller’s location rather than having to travel to the buyer’s city as in the past china’s traffic administration bureau of the ministry of public security said on august 20th under the past policy if the buyer and seller are in different cities the seller will need to accompany the buyer to the latter’s location for registration to facilitate used car transactions 20 cities including qianjin taiyuan shenyang and shanghai the pilot did allowing transactions to be completed locally since june 1st this is one of the latest moves in china’s policy to provide more convenience to the auto market china’s traffic administration bureau of the ministry of public security recently announced that the digital drivers license pilot will cover more cities and will be available to all drivers in china by 2022. more than 1.95 million drivers have so far applied for digital driving permits since china launched the pilot in tianjin chengdu and suzhou on june 1st the ministry of public security announced on weibo friday that the pilot will be expanded to 28 cities including beijing chung chun and non name starting september 1st neo’s used car business chinese used car trading service platform cheshire guo recently raised 6 million in series a funding led by chinese electric vehicle eevee maker neo’s venture capital arm neo capital and lee shinxing son of lee shufu founder of chinese automaker ghillie group city predicts this will be a positive catalyst for its stock locally and within the united states older shareholders including china growth capital source code capital and msa capital also participated in the investment cheshire was incubated by the used car fintech platform che duo group which was founded in 2018 by zhang wei a serial entrepreneur in the used car space and graduate of singwa university the headquarters of cheshoudwo is located in ningbo zhijong an eastern city in china and the first intelligent used car hyper market under the platform was opened there this is the second used car platform that neocapital has invested in recently as it invested in used car dealer uxen with joy capital last week oxen said on june 15 that it had signed definitive agreements with neo-capital enjoy capital with the two investors agreeing to invest a total of 315 million dollars in it oxen also reached an agreement with its convertible debenture holders including 58.com tpg and warburg pincus to convert 69 million dollars in aggregate principal amount of its convertible debentures into uxin’s classic common stock more than 10 major investors including neo capital joy capital and these convertible bondholders agreed not to sell their holdings of uxin stock for the next nine months neo launched its official used car business neo-certified at the beginning of the year to provide quality services to used car users through self-operated business and has committed rmb 3 billion 463.4 million dollars to the business over five years neo has established a nationwide used car business network providing the whole process of vehicle inspection appraisal acquisition and sale earlier today a spokesman for china’s ministry of commerce said that the consumption potential of used cars is huge and the country is working to promote the development of the used car market china begins shipping to russia chinese brands sold 56 573 vehicles in russia in from january to july up 140 year-over-year with the top three sellers being cherry haval and gili sputnik reported in july chinese cars sold 9734 units in russia up 84 year-over-year chinese cars have seen steady growth in local sales so far this year the report said in a report released on august 3rd china’s ministry of commerce has recommended that new energy vehicle companies increase their exports marketing and promotion to russia to expand their market share this report on the development of new energy vehicles in russia shows that the market for electric vehicles in russia is limited in size due to the cold climate as of 2020 the number of electric vehicles in russia will be about 6 300 with a penetration rate of only 0.01 the report says russia’s electric vehicle infrastructure is still in its infancy with moscow only planning to quintuple the number of charging piles in the city to 600 by 2023 local companies in russia have also launched electric vehicles including st petersburg polytechnic university’s electric suv and compact electric vehicle platform zetta russia’s natural gas vehicle market has small holdings and is growing faster with capacity concentrated in heavy-duty vehicles the report said chinese companies can consider seizing the growth opportunities in the russian market and on the basis of full justification increase the export of new energy vehicles to russia and their marketing and promotion in russia to gradually expand their market share in russia the report reads chinese companies can explore with russia to carry out cooperation on new energy vehicle infrastructure including charging facility construction pipe network optimization dispatching transmission and distribution optimization and smart services to share new opportunities in the new energy vehicle market the report said china’s new energy vehicle exports showed explosive growth in july the china passenger car association cpca said on tuesday tesla china exported 24 347 units in july saic passenger cars new energy exports 4407 units byd exported 781 units and cherry auto exported 120 units the cpca said china’s wholesale sales of new energy passenger vehicles reached 246 000 units in july up 5.1 from the previous month and up 202.9 from a year earlier 1.339 million new energy passenger vehicles were sold wholesale in china from january to july up 227 from a year earlier neo’s russian car neo has completed winter testing of its flagship sedan et7 paving the way for the model’s scheduled delivery in the first quarter of next year it is currently summer in the northern hemisphere to test the et7’s performance in winter neo transported the test vehicle to new zealand in the southern hemisphere winter testing is a fundamental and essential part of the et7 testing program which includes dynamic testing on all types of low traction surfaces according to neo this includes verification and testing of the power control system chassis performance testing and calibration and testing of selected driving modes with the aim of providing a safe and comfortable driving experience for users in different usage scenarios the company said in addition many speculate that neo is also testing the its vehicles to possibly ship to russia as we have mentioned in a previous video china and its ministry is encourage exports towards russia which is a very open electric vehicle market that’s what’s been happening this week in the world of neo stock analysis and predictions if you haven’t subscribed yet make sure you click the subscribe button at the bottom right and subscribe to financial health right now so that next week you’ll get the inside scoop on the latest developments to keep you and your business on the leading edge of neo stocks and predictions if you enjoyed this edition of neo stock analysis and predictions leave a comment and please hit the like or share button we’d really appreciate it are you still watching and want more check out last week’s neo stock analysis and predictions by checking out our neo playlist
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?NIO News Today » China changes policy because of NIO  » August, 25

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