Taiyi Shenglian Plans to Invest RMB 3 Billion to Take Control of Neta Auto; MIIT Vows to Crack Down on Online Misconduct in Auto Industry

On September 13, Hyundai Motor announced it is collaborating with U.S. autonomous driving company Waymo to combine Hyundai’s vehicle manufacturing capabilities with Waymo’s Level 4 autonomous driving technology. Hyundai plans to begin deliveries of specially modified IONIQ 5 robotaxis equipped with Waymo’s self-driving system in the fourth quarter of 2026. Also on September 13, the U.S. National Highway Traffic Safety Administration (NHTSA) stated that Ford Motor Company will recall 223,472 vehicles in the United States due to fuel tank issues involving potential leaks and insecure mounting, which could cause the tank to detach during driving. The recall affects certain 2023–2027 model-year Ford F-150 pickup trucks. Dealers will inspect the fuel tank straps free of charge and replace them if necessary. Recently, the fourth creditors’ meeting for the bankruptcy reorganization of Hozon New Energy Vehicle Co., Ltd. (parent company of Neta Auto) was held online. According to the draft Reorganization Plan, Zhejiang Taiyi Shenglian Enterprise Management Partnership (Limited Partnership) intends to invest RMB 3 billion to acquire approximately 70.62% equity in Hozon New Energy. Business registration records show that “Taiyi Shenglian” was established in April 2026 as a joint venture between Zhejiang Shanzi Holding Co., Ltd. and Zhejiang Shanzi Yuxu Technology Co., Ltd. The former is controlled by Ye Ji, chairman of Shenzhen-listed Shanzi High-Tech, while the latter is controlled by Yu Shuxin, head of Shanzi High-Tech’s board office. Recently, Vietnamese electric vehicle maker VinFast announced leadership appointments, with founder Pham Nhat Vuong handing over top management roles at two core affiliated companies to his two sons. His 33-year-old eldest son, Pham Nhat Tuan Anh, has officially assumed the role of Global CEO of VinFast and concurrently serves as Chairman and CEO of VinFast Vietnam. Pham Nhat Vuong will remain on the board. His younger son, born in 2000 and named Pham Nhat Minh Hoang, has been appointed Global CEO of GSM, an affiliated all-electric ride-hailing platform. According to reports, General Motors plans to develop next-generation battery technology in the United States using domestically sourced materials. Kurt Kelty, GM’s Vice President of Battery and Sustainable Development, expressed hope that localized production can be achieved within two to three years. These batteries refer to energy storage system cells suitable for applications such as homes and data centers. A GM spokesperson added that the company intends to manufacture EV battery cells in the U.S. in the future. Recently, Desay SV Automotive, Li Auto, and NXP jointly developed a UWB-based near-field perception fusion solution, which has now entered mass production on the Li Auto L9 Livis model. At its recently held 2026 interim earnings briefing, Raytron Technology stated that its automotive water pump solutions have passed automotive-grade certifications from multiple leading manufacturers and have entered stable, high-volume supply. Earlier this month, Uber announced the layoff of approximately 3,300 internal employees—about 10% of its global workforce—and its exit from the Nigerian and Ugandan markets. CEO Dara Khosrowshahi has mandated reducing the proportion of remote work to below 1%. Uber’s Q2 2026 earnings report, released on August 5, showed that several profitability metrics exceeded analyst expectations. On September 10 local time, Khosrowshahi purchased 141,000 shares of Uber stock for about USD 10 million; following the announcement, Uber’s share price rose by approximately 2%. Uber is currently partnering with multiple companies to integrate autonomous vehicles into its service network and advance its Robotaxi business strategy. Recently, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), noted in a post that retail sales in China’s auto market rebounded by 5.5% month-over-month in August 2026. Domestic gasoline prices have cumulatively increased by more than RMB 1,720 per ton in 2026, including an RMB 180 rise since late July. Recently, the China Automobile Dealers Association (CADA) released its August 2026 “Automobile Dealer Inventory” survey results: the overall dealer inventory coefficient stood at 1.58 in August, up 6.8% month-over-month and 20.6% year-over-year. According to CADA-CPCA data, national passenger vehicle retail sales reached 1.541 million units in August, implying a total dealer inventory of approximately 2.44 million vehicles at the end of the month. Kinetix AI (Chao Wei Power) recently completed a Series Angel+ financing round exceeding RMB 500 million, with additional investments from Vertex Ventures (a VC arm under Singapore’s Temasek Holdings), Fangguang Capital, and Wan Shi Capital. The funds will accelerate the iteration of its “data-model-embodiment” framework and drive the productization of embodied intelligence solutions. Recently, the Cyberspace Administration of China, the Ministry of Agriculture and Rural Affairs, and the Ministry of Industry and Information Technology jointly issued the *High-Quality Digital Rural Development Action Plan (2026–2030)*, supporting the rollout of new energy vehicles and green smart home appliances in rural areas and encouraging enterprises to develop intelligent hardware and software tailored to rural lifestyles. Recently, the Ministry of Industry and Information Technology held a press conference to brief on the development of China’s intelligent connected new energy vehicle industry. Officials stated that MIIT, together with relevant departments, has already formulated and implemented regulatory guidelines, resulting in initial improvements in addressing online misconduct and supplier payment terms. Going forward, MIIT will focus on four key areas: continuously regulating market competition, leveraging standards as a guiding force, safeguarding quality and safety, and improving institutional mechanisms.