GAC Targets 2M Units by 2026; Bosch and NIO Deepen Collaboration; Bertel to Take Control of Yubei Steering

This week witnessed a flurry of major developments in the automotive industry: GAC Group held its 2026 High-Quality Development Conference, reaffirming its goal to return to annual sales and production of 2 million vehicles. The company’s self-owned brands will focus on “three critical battles,” aim to achieve overseas exports of 200,000 units, and launch the first model under its Huawei-collaboration brand “Qijing” in June. Bosch and NIO signed a strategic cooperation agreement covering core technologies such as steer-by-wire chassis and battery management systems, accelerating collaborative innovation in smart electric vehicle technologies. Meanwhile, NIO’s chip subsidiary, Shengee, completed its Series A financing round, raising over RMB 2.2 billion and achieving a post-money valuation nearing RMB 10 billion; its 5nm automotive-grade chip has already entered mass production and been deployed in vehicles. Additionally, Bertil announced plans to acquire a 50.97% stake in Yubei Steering for up to RMB 1.121 billion, strengthening its chassis systems portfolio. Finally, Jaguar Land Rover China President Robin Ping has been promoted to Global Board Director of Procurement, continuing to drive the integration of Chinese supply chains into the global system.