Honda Sells China-Made EVs in Japan for First Time; CATL Posts Q1 Net Profit Over ¥20.7B; Geely's NEV Penetration Exceeds 52%

Honda launched its new all-electric Insight model in Japan on April 17, becoming the first Japanese automaker to sell a China-made, self-branded electric vehicle in the Japanese market. The Insight is based on the e:NS2, co-developed with Dongfeng Motor Corporation through their joint venture in China, and has been adapted for the Japanese market with right-hand drive configuration and an optimized charging system. The initial limited release includes 3,000 units priced at ¥5.5 million (approximately $34,582), or ¥4.2 million after government subsidies. On April 15, Contemporary Amperex Technology Co. Limited (CATL) released its financial results for the first quarter of 2026, reporting revenue of RMB 129.131 billion, up 52.45% year-over-year; net profit attributable to shareholders of RMB 20.738 billion, an increase of 48.52%; and adjusted net profit of RMB 18.093 billion, rising 52.95% year-over-year. The company attributed its revenue growth to expansion in core business operations. Meanwhile, operating costs rose by 51.63% year-over-year, and financial expenses surged 102.72% due to foreign exchange losses. On April 14, SAIC-GM-Wuling (SGMW) signed a strategic cooperation agreement with CATL, covering battery supply across SGMW’s full vehicle lineup, joint development of battery-swap networks, coordinated overseas expansion, and ecosystem collaboration. Over 15 new energy vehicle (NEV) models from Wuling will adopt CATL batteries and integrate into CATL’s nationwide battery-swap infrastructure. Both parties will also co-develop ultra-fast charging technology, targeting a 10%–80% state-of-charge time of under 10 minutes. On April 14, Geely Holding Group announced that its total sales reached 937,900 vehicles in the first quarter of 2026, a record high for the period. Of these, 491,000 were NEVs, representing a penetration rate of 52.4%. Overseas exports totaled 203,000 units, surging 126% year-over-year, with NEVs accounting for 64% of exports. Geely Auto brand alone sold 709,400 vehicles in Q1, including 369,100 NEVs (52% penetration). During the same period, Geely unveiled its next-generation AI-powered hybrid technology, i-HEV Smart Hybrid. On April 13, XPeng Motors announced that cumulative deliveries of its MONA M03 model have surpassed 250,000 units. Deliveries began in August 2024, achieving this milestone in less than 20 months. The 2026 MONA M03, launched on April 2, features an 800V high-voltage platform across all trims, enabling 30%–80% fast charging in 15–26 minutes. The Max variant is equipped with dual Turing AI chips delivering 1,500 TOPS of computing power and supports the enhanced "Parking Space-to-Parking Space 2.0" intelligent driving feature.