Multiple Automakers and Suppliers Reveal Updates: Xiaomi SU7 Completes High-Speed Testing, Qijing Secures Guangzhou L3 Road Test Permit, M-Hero Warns Price Wars Undermine Consumer Confidence

On June 14, Xiaomi conducted live-streamed tests of the YU7 Standard and YU7 GT at its Yancheng test track. The YU7 GT achieved a verified top speed of 304 km/h, while the YU7 Standard completed a top-speed test at 220 km/h. Xiaomi stated that such high-speed capabilities reflect the vehicle’s integrated technical strengths in chassis dynamics, battery systems, electric drive units, and thermal management—all contributing to enhanced reliability and safety in everyday driving. Additionally, the YU7 GT underwent 50 consecutive emergency braking tests, maintaining stopping distances between 32 and 36 meters. It uses the same carbon-ceramic braking system as the SU7 Ultra, with carbon-ceramic discs capable of operating at temperatures up to 1,300°C. At the 2026 China Automotive Chongqing Forum, Qijing Auto announced it has obtained Guangzhou’s L3 autonomous driving road testing permit, and relevant models have already begun pre-testing for L3 autonomy locally. At the same forum, M-Hero CEO Wan Liangyu emphasized that the moat of luxury brands lies in irreplaceable value recognized by users—not price. He noted that the ongoing price war is eroding consumer confidence, with pessimistic car buyers now outnumbering optimistic ones. M-Hero has chosen not to join the price cuts, instead focusing on the premium intelligent off-road segment and channeling resources toward enhancing customer value. Li Shufu, Chairman of Geely Holding Group, stated at the forum that under the “Taizhou Declaration” strategic framework, Geely will advance five strategic pillars, clarify the relationship between Geely Automobile Group Co., Ltd. and Geely Automobile Holdings Limited, orderly shut down or restructure redundant entities under the former, concentrate resources to strengthen the latter, and build a modern corporate operational system characterized by clear governance, well-defined responsibilities, efficiency, and compliance. ORA (Ora) announced the upcoming launch of the ORA 7, which will become Great Wall Motor’s first station wagon. Nissan Motor President Ivan Espinosa announced plans to shorten the new vehicle development cycle from 55 months to 26 months. The first model developed under this new process will be the next-generation Skyline, scheduled for launch in winter 2026. This transformation draws inspiration from Chinese automakers’ AI-driven rapid iteration models and aims to roll out the new process to 90% of Nissan’s vehicle programs by fiscal year 2026. U.S.-based automotive supplier Dana Incorporated and Eaton Corporation have agreed to merge Dana’s Mobility business, in a transaction valued at approximately $5.1 billion using a Reverse Morris Trust structure. Upon closing, Eaton shareholders will hold no less than 50.1% of the combined entity, Dana shareholders about 49.9%, and Eaton will receive a cash distribution of approximately $1.1 billion. EVE Energy secured its first European syndicated loan, arranged by HSBC, providing €185 million in long-term financing to its wholly owned Hungarian subsidiary for the construction of a 30 GWh annual capacity large-format cylindrical lithium-ion cell factory—the company’s first production base in Europe. Silan Integrated Circuit plans to jointly build a 12-inch mixed-signal semiconductor wafer fabrication line in Shaoxing with a monthly capacity of 50,000 wafers as part of its Phase IV project. The total investment is approximately RMB 20 billion, with Silan contributing RMB 3.012 billion for a 25.1% stake. The project aims to solidify its leadership in the new energy vehicle and industrial control markets while expanding into AI server power management and optical interconnect segments. According to the Ministry of Industry and Information Technology’s (MIIT) 408th batch of new vehicle declarations, the new all-electric Aito M6 variant will be equipped with lithium iron phosphate batteries produced by Yichun Guoxuan Battery Co., Ltd., with both cells and packs supplied integrally by the company—marking Guoxuan High-Tech’s entry into the core supply chain of Huawei’s Harmony Intelligent Mobility vehicles. Muxi Semiconductor and UBTECH Robotics, among other companies, signed an agreement in Nanjing to jointly establish XiXuan Chuangzhi Technology (Wuxi) Co., Ltd., with a registered capital of RMB 100 million, focusing on the R&D and mass production of embodied intelligence chips. Muxi and UBTECH each hold 35.01% stakes, while Fenglong Shares holds 4.7%. In May 2026, the average transaction price of passenger vehicles reached RMB 173,000, up RMB 4,000 year-over-year. Prices of internal combustion engine (ICE) vehicles initially rose before stabilizing, while new energy vehicle (NEV) prices, which had been declining since 2023, rebounded to RMB 169,000 in May 2026, reflecting a structural shift of declining volumes but rising prices. Recently, MIIT and the State Administration for Market Regulation jointly summoned automobile manufacturers suspected of engaging in irrational competition, urging them to comply with pricing-related laws and regulations, strengthen price compliance and quality control, and maintain a healthy competitive market order. In response to the widespread weight increase in new energy vehicles—typically ranging from 2 to 3 metric tons, with some approaching 4 tons due to large-capacity batteries—relevant authorities are studying adjustments to the taxation system, including road maintenance fees, to better align with the current automotive industry landscape.