Category: Automotive

SERES Passes HKEX Listing Hearing – First ‘A+H’ Dual-Listed Premium NEV Maker Poised for Hong Kong Debut

In recent years, as Chinese domestic brands have made breakthroughs in intelligent and electric vehicle technologies, premiumization has emerged as a core trend in China’s new energy passenger vehicle sector. Among them, Seres Group Co., Ltd. ( SERES ) has taken the lead by launching its premium automotive brand “AITO”, strategically positioning itself in the luxury new energy market.

Leveraging robust product strength, the AITO series models have demonstrated rapid sales growth since their launch, showcasing strong momentum. With outstanding product capabilities and brand positioning, the brand has earned the reputation as China’s “Mercedes & BMW”. On October 13th, SERES successfully passed the Hong Kong Stock Exchange listing hearing, poised to become the first luxury new energy vehicle manufacturer to achieve an “A+H” dual listing on the Hong Kong stock market.

Technology-Driven Foundation + Streamlined Delivery: Building Core Competitive Moat
Amid accelerating technological iteration in the luxury new energy vehicle sector and rising consumer expectations for delivery timeliness, SERES has established a dual advantage of “technological barriers + delivery assurance”. This positions it as one of the few automakers in the premium new energy market capable of achieving both scale and high quality simultaneously.

Technologically, SERES has consistently increased R&D investment, building core competitiveness through accumulated technological strength. The Company’s R&D expenses reached RMB5.6 billion in 2024, and RMB2.9 billion in the six months ended June 30, 2025, ranking among the highest among domestic automakers. Its self-developed MF Platform covers the development needs of multi-tier, multi-category, and multi-power-form vehicle models. Meanwhile, through platform-based vehicle manufacturing, it effectively reduces overall vehicle development costs while significantly enhancing development agility and flexibility, providing critical support for expanding profit margins. In the extended-range technology sector, SERES is the first vehicle manufacturer to commercialise mass-produced range extenders. Its latest generation of the SERES super-range extender system boasts a maximum oil-to-electricity conversion rate of 3.65kWh/L, which is the highest level of mass-produced range extenders in the industry. This effectively alleviates user charging anxiety and sets a new technical benchmark for the industry.

Delivery capabilities further solidify its competitive barriers. As new vehicle orders surge exponentially, rapidly scaling delivery capacity becomes a critical test for automakers. Relying on digital manufacturing and supply chain management capabilities, SERES has achieved industry-leading delivery efficiency. Leveraging digital-twin technology, our SERES Super Factory utilises digital technology as a driving force and seamlessly integrates artificial intelligence, big data, the Internet of Things to establish an intelligent manufacturing platform that achieves large-scale, high-quality and agile delivery. In 2024, the annual production volume of the AITO M7 reached approximately 200,000 vehicles, with monthly deliveries exceeding 30,000 vehicles. The production volume of the AITO M9 exceeded 150,000 vehicles within 10 months following its launch in 2024, achieving “rapidly scale upon launch”.

Sales and Earnings Soaring, Launching a New Phase of Profitability
Technological accumulation ultimately translates into formidable product competitiveness. By the end of September 2025, cumulative deliveries across the entire AITO series surpassed 800,000 units, setting a new record for delivery speed among China’s luxury new energy brands. Among these, cumulative deliveries of the AITO M9 series exceeded 240,000 units, while the AITO M8, launched in April 2025, surpassed 100,000 units in cumulative deliveries, becoming the sales champion in the RMB500,000 and RMB400,000 price segments respectively.

Financial performance was equally impressive. In 2024, SERES achieved revenue of RMB145.1 billion, representing a year-on-year increase of 305.5%. Concurrently, driven by optimized product mix, the Company’s gross profit margin significantly improved to 23.8% in 2024, up 16.6 percentage points year-on-year, and increased to 26.5% for the six months ended June 30, 2025. This enhanced profitability directly propelled the Company toward a pivotal turning point. In 2024 and for the six months ended June 30, 2025, SERES recorded a net profit attributable to owners of the Company of RMB5.9 billion and RMB2.9 billion, respectively. This achievement positions SERES as the fourth profit-making new energy vehicle company in the world.

From an industry perspective, China’s premium new energy vehicle segment is entering a phase of rapid volume growth. According to Frost & Sullivan, in 2024, the sales volume of premium NEPVs reached 2.6 million units, accounting for 23.4% of the total NEPV market in China. The sales volume is expected to reach 5.7 million units by 2030, with market share rising to 29.8%, representing a compound annual growth rate (CAGR) of 14.0% from 2024 to 2030.

SERES is building long-term competitive barriers through clear brand positioning and leading technological capabilities. Centered on its AITO brand, the Company continues to deepen its intelligent and luxury vehicle strategy, achieving simultaneous growth in market share and profitability. Moving forward, as the Hong Kong listing process advances, SERES will further broaden its access to international capital, accelerate its global expansion, and inject fresh momentum into brand internationalization and long-term value growth.

Global Media First Drive of G700: A Comprehensive Validation of GAIA Hybrid Off-Road Architecture

Wuhu, China, Oct 24, 2025 – (ACN Newswire) – The world’s leading automotive journalists gathered at Anhui’s Hongyangshan Automotive Sports Park for the first drive of the all-new G700. The event, under the banner “Innovation · Defining the Future,” offered a firsthand look at the GAIA Hybrid Off-Road Architecture.

Smart Off-Road System: Effortless Control All Terrains Escape

During the field tests, the G700 proved its all-terrain capability on challenging courses featuring mogul sections and steep mounds. Confronting undulating and slippery sections, its Intelligent XWD System demonstrated unmatched and recovery capability.

Equipped with front and rear differential locks and an electronic virtual central lock, the system monitors vehicle status 100 times per second via real-time computation, precisely identifying locking timing and distributing torque efficiently, greatly improving recovery efficiency and control.

The G700’s GAIA Chassis also became a focal point during testing. Integrating electromagnetic air suspension with a Hydroformed One-Piece Frame Rail, the GAIA Chassis absorbs harsh impacts across bumpy terrain, delivering comfort that exceeded expectations.

In addition, the Intelligent X Mode enhances ease of driving by combining ADAS vision with multi-dimensional perception data, automatically identifying road surfaces and dynamically adjusting driving strategies, earning high praise from participating media.

GAIA iDM-O: The Ultimate Hybrid Off-Road Solution

In uphill and acceleration tests, the G700’s GAIA iDM-O system delivered both strength and smoothness — establishing itself as JETOUR’s flagship hybrid off-road technology platform and the benchmark for hybrid off-road performance.

The 2.0T engine combined with dual electric motors produces a maximum system torque of 1,135 N·m, providing powerful traction for low-speed climbing and extreme recovery, embodying the unique appeal of hybrid off-roading.

During straight-line acceleration tests, media measurements confirmed the G700 achieves 0-100 km/h in just 4.6 seconds. Additionally, the G700 boasts a combined range of 1,400 km and a WLTC fuel consumption of only 8.8L/100 km, combining powerful performance with outstanding energy efficiency.

The Hongyangshan test drive was not only a validation of rugged performance but also an immersive experience of intelligence and premuim. Moving forward, JETOUR will continue to reshape the definition of premium hybrid off-road with its exceptional intelligent manufacturing capabilities, striving to become the “World’s Leading Hybrid Off-road Brand.”

Company: JETOUR AutoContact Person: Weitong LiuEmail: liuweitong@mychery.com Website: https://www.jetour.com.cn/  Telephone: 15395367939

SERES Posts Robust H1 2025 Results: Revenue Hits CNY 62.4 Billion, Net Profit Up 81% to CNY 2.94 Billion, R&D Investment Soars nearly 155%

On August 29, SERES announced its 2025 mid-year results, reporting strong growth across all key metrics. In the first half of the year, SERES achieved operating revenue of CNY 62.4 billion and net profit attributable to shareholders of CNY 2.94 billion—an 81% year-on-year increase. R&D investment reached CNY 5.12 billion, up nearly 155% from the prior year, while NEV sales totaled 172,108 units.

This impressive performance was fueled by robust demand for premium smart electric vehicles under the AITO brand, supported by exceptional product quality and delivery capabilities. Contributing factors include the versatile MF Platform for efficient model development, the Super Factory for rapid production scaling, advanced digital-intelligent quality assurance systems, and a modern luxury experience that continues to strengthen AITO’s market reputation.

AITO’s latest models continue to raise the bar, with the AITO 9 and AITO 8 maintaining their positions as sales leaders.

In the first half of this year, the AITO series continued to evolve with several new launches, including the AITO 5 Ultra, the 2025 Edition AITO 9, and the AITO 8—all of which received strong market and consumer response.

Thanks to improvements across its entire value chain, AITO has set new standards for delivery among China’s luxury new energy vehicle brands. As of August 2025, total deliveries of all AITO models have surpassed 750,000 units. Notably, cumulative deliveries of the AITO 9 have exceeded 220,000 units, making it the top-selling vehicle in the CNY 500,000 luxury car segment. The AITO 8 quickly became a bestseller after its debut, with over 70,000 units delivered and holding the top spot in the CNY 400,000 price segment for four consecutive months.

Additionally, according to LandRoads’ Brand Health Tracking Study for New Energy Vehicles in the first half of 2025, the AITO brand ranked No. 1 in the Brand Development Confidence Index. The AITO 9 also led the overall new energy vehicle Net Promoter Score (NPS) rankings, with a score of 85.2.

Notably, AITO launched an all-electric version of its family-focused flagship SUV, the AITO 8, on August 25. The all-new AITO 7 is also set to make its official debut in September. With the ongoing introduction of new models, AITO continues to expand its product lineup to meet the diverse needs of consumers and strengthen its leadership in the luxury new energy vehicle market.

A Commitment to Technological Innovation and Robust R&D Investment
Technological innovation is central to SERES’ long-term growth. The company has consistently invested in research and development, driving new advancements and achieving remarkable results in technology. In the first half of 2025, SERES invested CNY 5.20 billion in R&D—nearly a 155% increase year-over-year. The number of R&D personnel reached 6,984, up approximately 27% from last year and now comprising 36% of the company’s total workforce.

At this year’s Shanghai Auto Show, SERES unveiled its intelligent safety system, pioneering a scenario-based approach to vehicle safety. The new system establishes an intelligent safety framework across four key areas: life protection, vehicle body protection, health care, and privacy protection. This comprehensive approach ensures user safety throughout the entire vehicle lifecycle and sets a new industry benchmark for intelligent safety.

Previously, SERES introduced a series of major technological advancements, including the SERES MF Platform, SERES Super Range-Extender, and the SERES Super Factory. The SERES Super Factory has been an industry pioneer with its “factory-within-a-factory” model, driving product integration, intelligent manufacturing, and industrial clustering to boost collaboration and innovation. The company also set a new industry standard with its Zero-Carbon Smart Logistics Hub.

Brand Value Surges Amid Strong Investor Confidence
As the world’s fourth new energy vehicle manufacturer to achieve profitability, SERES laid a strong foundation for growth in the first half of the year through strategic product portfolio optimization, technological innovation, and enhanced operational efficiency.

SERES also ranked 169th on the 2025 Fortune China 500 list. This was an ascent of 235 spots from the previous year, making it the fastest-climbing company on the list. On the TopBrand 2025 China’s Top 500 Brands list, released in August, SERES ranked 92nd with a brand value of CNY 175.52 billion, breaking into the automotive industry’s top 10 and highlighting its leadership in brand development and market influence. More recently, on August 28, SERES climbed to 59th place—up 174 spots—on the 2025 China Top 500 Private Enterprises list, becoming the top-ranked private enterprise in Chongqing.

Meanwhile, the capital markets continue to show strong confidence in SERES’ future growth. In the past six months, nearly 40 securities firms have issued “Buy” ratings for SERES, with expectations that the company will maintain a strong growth trajectory throughout the second half of the year.

AITO launches EV Road Tour from Chongqing to Jakarta

Chinese automotive company SERES and electric vehicle brand AITO launched a road tour from Chongqing to Jakarta on Monday (4/8) to test the brand’s durability, as well as celebrate 75 years of Indonesia-China diplomatic relations. The “Open the Way with AITO” road tour will pass through several ASEAN countries on its way to Jakarta, covering a route of 5,000 kilometers. Vehicles on the tour are the AITO M5, AITO M7, and AITO M9.

(from left) of the Indonesian Chamber of Commerce and Industry China Committee (KIKT) Garibaldi Thohir, President of SERES Automobile Leon He, Indonesian Ambassador to China and Mongolia Djauhari Oratmangun at the launch of the road tour of the Chinese electric car

Indonesian Chamber of Commerce and Industry China Committee (KIKT) Chairman Garibaldi ‘Boy’ Thohir, SERES Automobile President Leon He, and Indonesian Ambassador to China and Mongolia Djauhari Oratmangun at Chongqing-Jakarta AITO Road Tour launch in Chongqing, China on Aug 4.

“The KIKT (Indonesian Chamber of Commerce and Industry Bilateral Committee for China) is here in Chongqing to launch this major event where AITO vehicles will travel a route from Chongqing, China to Indonesia, with a big welcoming event planned on August 25 in Jakarta,” said KIKT Chairman Garibaldi “Boy” Thohir to ANTARA after the launch event in Chongqing on Monday.

The road tour, titled “Open the Way with AITO,” will pass through several ASEAN countries on its way to Jakarta, covering a route of about 5,000 kilometers. The AITO vehicles in the road tour are the AITO M5, AITO M7, and AITO M9.

“The Chinese government, especially President Xi Jinping, has promoted ‘One Belt One Road,’ and this is one example of the Silk Road from Chongqing to Indonesia. With this event, we also hope to attract the attention of young people,” Boy added.

Young people will be represented in the event by celebrities such as Boy William and Gading Marten, as well as Kanjeng Gusti Pangeran Adipati Arya (KGPAA) Mangkunegara X Bhre Cakrahutomo Wira Sudjiwo, commonly known as Gusti Bhre.

“Because many young people like fun, informal things, I am involving Boy William and Gading Marten to be icons so that young Indonesians can see how far Chinese technology has progressed, and especially the good relationship between the two countries,” Boy explained.

The Indonesian Ambassador to China and Mongolia, Djauhari Oratmangun, stated that this event was not only related to Indonesia and China but to several ASEAN countries. “This shows that the NEV (new energy vehicle) industry will enter Indonesia and produce in Indonesia for the ASEAN market, and therefore the Indonesian Embassy in Beijing fully supports it,” said Ambassador Djauhari. 

Ambassador Djauhari sees renewable energy vehicles (New Energy Vehicles) as part of the green economy. “We have the materials, especially for producing batteries as the main component of the electric vehicle industry. Therefore, we welcome the presence of the electric vehicle industry in Indonesia, and China has become one of the world’s main producers of electric vehicles,” Ambassador Djauhari added.

In his remarks, Ambassador Djauhari said that young people, innovators, and even tourists are beginning to play a role in Indonesia-China relations. “Events like this spark a curiosity, a spirit of adventure and mutual understanding. As this tour starts from Chongqing, the hope is that it can also bring about a more integrated ASEAN-China region, a more strategic, sustainable, and comprehensive Indonesia-China partnership, and a stronger, more environmentally friendly future,” Ambassador Djauhari explained.

SERES Automotive President Leon He said that AITO had previously undertaken a similar overland expedition in Europe. “Last year’s expedition covered 15,000 km in 38 days to Paris, which proved the toughness of our vehicles. This year, the journey will continue to Indonesia, a strategic market with an economic potential of 150 billion US dollars and a strong commitment to new energy vehicles,” said Leon He.

Leon He noted that the presence of the SERES factory in Sokonindo, Indonesia since 2017 has been an important stepping stone for expansion in the ASEAN region. The AITO brand itself has not yet entered Indonesia, but SERES Automobile has been present through PT Sokonindo Automobile, which oversees the DFSK brand.

The Sokonindo factory has stood since 2017 in the Modern Cikande Industrial Estate, Serang, Banten, covering 20 hectares, with a total investment of USD 150 million and a maximum production capacity of 50,000 units per year for both domestic and international markets.

Indonesian Chamber of Commerce and Industry: https://kadin.id/en/

Integration of ION Mobility’s assets and IP, set to accelerate TVS Motor’s EV footprint in South East Asian markets

TVS Motor Company (TVSM), a leading global manufacturer of two and three-wheelers, is set to strengthen its electric vehicle (EV) presence in Southeast Asia through the integration of ION Mobility’s assets, intellectual property, and talent into its operations. Southeast Asia represents one of the world’s fastest-growing regions for motorbike usage, offering a significant opportunity for expansion.

TVSM has been a strategic investor in ION Mobility, a full-stack EV company known for its robust in-house capabilities across industrial and product design, mechanical and electrical engineering, embedded and power electronics, firmware, software, and supply chain solutions. This integration, combined with TVSM’s deep expertise in electric mobility, marks a major step toward unlocking new possibilities in the region.

Commenting on the development, Sharad Mohan Mishra, President Group Strategy, TVS Motor Company, said: “We were an early strategic investor in ION Mobility, attracted by their focus on delivering smart, sustainable, and exciting mobility solutions for ASEAN markets. Our ‘Reimagine 2030’ vision strongly aligned with their mission. With the acquisition of ION Mobility’s assets, IP and core team, we are thrilled to bring their entrepreneurial energy, design thinking and engineering strength into TVSM. Combined with our R&D depth, quality systems, and manufacturing scale, this partnership positions us to accelerate market penetration and grow our share across Southeast Asia.”

TVS Motor is already a formidable player in the global EV landscape, with nearly 600,000 customers choosing its flagship electric scooter, TVS iQube. The company has developed end-to-end in-house capabilities across EV components – battery systems, battery management, vehicle control units, and connected platforms – and holds more than 650 patents in the EV domain.

Earlier this week, TVS Motor Company announced that its wholly owned subsidiary TVS Motor (Singapore) Pte Ltd acquired select assets from ION Mobility and also divested its stake in the company. Following this move, James Chan, Founder and CEO of ION Mobility, has joined TVS Motor Company as Senior Vice President. He will lead TVSM’s business across ASEAN while also spearheading the development and launch of the M1-S electric mobility platform. The M1-S is already generating strong interest in ASEAN markets for its striking design, impressive range, agile acceleration, and suitability for daily commutes.

About TVS Motor Company

TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.

For more information, please visit www.tvsmotor.com or write to corpcom@tvsmotor.com

Chery Auto Launches an IPO on HKEX – Fundamentals Driving Long-term Value Growth

Since 2024, the Chinese automotive industry has witnessed a wave of domestic brands replacement. With the dual drivers of the booming new energy vehicle market and sustained national policy support, domestic brands have achieved significant advances against international brands by means of new energy transformation, coordinated efforts in domestic and international markets, technological innovation, and global expansion, resulting in a continuous increase in market share. As Chinese domestic passenger car brands rise in the global market, the capital market is likely to recognize the intrinsic value of Chinese automakers. Chery Automobile, which submitted its application to the Hong Kong Stock Exchange on February 28, 2025, presents a unique investment opportunity.

Founded in 1997, Chery Automobile has long led the industry in innovation and deep international market penetration, achieving comprehensive global business coverage and industry-leading sales. This has cemented its solid position in China’s domestic passenger car market. According to Frost & Sullivan, based on global sales for the nine months ended September 30, 2024, Chery Automobile is the second-largest domestic passenger car company in China and 11th largest passenger car company globally.

Reinforced Innovation to Establish Core Technological Competitiveness
Upholding the development philosophy of “Building the Enterprise through Technology,” Chery Automobile has been always regarding technological innovation as the core of its business growth. The Company has established a multi-tier and comprehensive R&D system, including the Kaiyang collaborative research initiative, Stellar Lab (core technology research and development platform), and research and development centers located in China, Europe, South and North America, and Southeast Asia.

Supported by this robust R&D system and strong research capabilities, Chery Automobile has pursued a technology strategy of “Dual Strategy of ICE (internal combustion engine) vehicles and NEVs,” and achieved technological synergies between ICE vehicle and NEV models. In the field of ICE technology, the Company produced China’s first self-develop proprietary ICE engine for passenger vehicle in 1999; its in-house developed Chery Power 8-speed automatic transmission was the first proprietary 8AT transmission with full intellectual property rights in China. In the field of new energy vehicle hybrid system technology, the Company’s high-performance hybrid engine boasts industry-leading thermal efficiency and the REEV engine can achieve an oil-to-electricity conversion efficiency of 3.7 kWh/L, ranking among the best in the industry, while its hybrid DHT’s maximum mechanical efficiency in pure electric mode is among one of the highest globally.

To promote intelligence technologies for NEVs to the next level and accelerate the adoption of intelligence solutions for ICE vehicles, Chery Automobile is committed to providing cost-effective intelligence solutions to users of both ICE vehicles and NEVs, such as its intelligent cockpit system and applications featuring smooth connectivity, personalized intelligence and comprehensive functions across China and overseas markets. In the first nine months of 2024, the percentage of its passenger vehicles equipped with L2 and above intelligent driving solutions reached 50.7%.

Rapid Growth Supported by a Diverse Shareholder Base
Powered by its exceptional technological advantages, Chery Automobile’s diverse range of models has gained widespread market approval, resulting in soaring sales. In the first nine months of 2024, the Company’s passenger car sales increased by 51.8% compared to the same period in 2023, leading the growth among the world’s top 20 passenger car companies. Moreover, Chery Automobile was the only passenger vehicle company among the global top 20 to achieve a sales volume increase over 30.0% for both NEVs and ICE vehicles and in both China and overseas markets.

The rapid business growth has translated into outstanding financial performance. In the first nine months of 2024, Chery Automobile achieved revenues of approximately RMB 182.154 billion, marking a 67.7% year-on-year increase. Net profit reached about RMB 11.312 billion, a year-on-year growth of 58.5%. The return on equity (ROE) was 81.6%. As of September 30, 2024, the Company had cash and cash equivalents totaling RMB 41.938 billion, indicating robust capital reserves.

Previously, Chery Automobile has gone through several rounds of strategic financing, forming a diversified shareholder layout. This includes state-owned entities such as Anhui Credit Financing Guaranty Group Co., Ltd., Wuhu Investment Holding Co., Ltd., Bohai Industrial Investment Fund Management Co., Ltd., Qingdao Urban Investment International Development Group Co., Ltd., and Changshu Port Development Construction Co., Ltd., as well as renowned publicly-listed companies and investment institutions like Luxshare Investment (HK) Limited, CATL, Gotion High-Tech, and so on, providing substantial financial and resource support to the Company.

In 2024, Chery Automobile’s outstanding performance in multiple dimensions, including sales volume, revenue, profit, new energy vehicles, fuel vehicles, and exports, has accumulated sufficient momentum for landing on the international capital market.  A Hong Kong listing will not only help the Company establish a long-term capital replenishment channel but also benefit the activation of its equity incentive mechanism to maximize its value potential.

Innovation Takes Center Stage at the 2024 EE Awards Asia Ceremony

Celebrating Excellence of all “EE Professionals”! The 2024 EE Awards Asia Honors Innovation and Talent

The premier annual event for Taiwan and Asia’s electronics industry, EE Awards Asia 2024, took center stage on December 5 at the GRAND HILAI TAIPEI. Organized by ASPENCORE’s Taiwan/Asia team, representing the globally influential EE Times and EDN brands, this fourth edition of the EE Awards Asia continues to advance its mission: “Shaping the Future with the Electronics Industry; Transforming the World with Engineers!” The event gathered professionals from industry, academia, and research across the region to celebrate outstanding achievements and honor the innovators behind the electronics sector—the engineers, or “EE Professionals.”

From left: EE Times/EDN Asia Editor Stephen Las Marias, Himax Optoelectronics Co-founder and CEO Wu Bingchang, Power Semiconductor Chairman Huang Chongren, EE Times/EDN Taiwan General Manager Wu Chongyi, National Development Commission Deputy Chairman Zhan Fangguan, Dr. Chenming Hu, Qiu Zhenxiang, former CEO of Nangang IC Design Incubation Center, Jiang Xuzheng, special consultant of the Institute of Green Energy and Environment of ITRI, Liao Ronghuang, leader of ITRI’s Industrial Service Center

This year’s EE Awards Asia attracted over 400 submissions from nearly 170 companies worldwide, competing across 36 categories, including Company Awards, Product Awards, Technology Platform Awards, Innovation Awards, and Analyst Awards. Since online voting opened in early August, the event has engaged nearly 10,000 readers from Taiwan and the Asia-Pacific region, reflecting a strong and enthusiastic response.

Grace Wu, General Manager of EE Times/EDN Taiwan for the Asia-Pacific region, stated: “Through this event, we aim to connect the local industry with global technology communities, inspire the next generation of engineers and attract talent to the electronics sector, while fostering a platform for technical exchange and knowledge transfer. Just as Chinese Taipei national baseball team showcased resilience to win the WBSC Premier12 championship and making the world see Taiwan, ASPENCORE will continue to elevate Taiwan & Asia electronics industry on the global stage through EE Awards Asia.”

Honoring Excellence: Celebrated Leaders and Innovators

The Executive of the Year and Outstanding EE Professional awards, selected by ASPENCORE’s global editorial team, remain the most prestigious highlights each year. These accolades recognize leaders and engineers who have driven industry progress and technological innovation.

This year’s Executive of the Year was presented to Frank Huang, Chairman of PSMC, and Jordan Wu, CEO of Himax Technologies. Under Huang’s visionary leadership, PSMC was successfully transformed into a foundry, restoring the company to glory. He also pioneered PSMC’s entry into the challenging Indian market, expanding Taiwan’s semiconductor presence. Meanwhile, Wu’s keen market insights have positioned Himax as a global leader in automotive displays and AIoT, earning a spot among the top 10 IC design companies worldwide in 2021. Both leaders exemplify excellence in guiding teams to achieve technological breakthroughs and market success.

The Outstanding EE Professional award was conferred on two renowned innovators in the field of R&D. Dr. Chenming Hu, an Academician of Academia Sinica and Honorary Professor at UC Berkeley, is celebrated as the “Foreseer of Microelectronics” for his pioneering contributions to 3D FinFET technology, pushing the boundaries of semiconductor innovation. Similarly, Dr. Kai-Sheng Chou, CEO of MEET International, leveraged his deep expertise in wireless communication, fiber optics, and networking protocols to build a successful electronic testing equipment manufacturing company. Their groundbreaking contributions set a high standard for engineering excellence and industry development.

Announcing the Winners of EE Awards Asia 2024

The Corporate Awards recognized outstanding companies in automotive electronics, AIoT, and electronic components distribution, while the Product Awards spotlighted the most favored ICs, products, and solutions across categories such as RF/Wireless, MCU/Driver IC, Power Management IC/Semiconductors, EDA, IP/Processors, Memory, Security, Test & Measurement (T&M), Sensors, AI, Passive Components, and Development Kits.

The Innovation Awards highlighted the most promising startups and innovation/R&D teams. This year also introduced new categories, including Analyst Awards and Technology Platforms Awards for Smart Manufacturing, Cybersecurity, AI, Cloud Computing, and Networking. These new additions provided an opportunity to recognize the year’s best tools and platforms as chosen by engineering professionals.

The award-winning entries across Corporate, Product, Innovation, and Technology Platform categories reflect the hottest industry trends and company strengths. This year’s surveys revealed AI as a dominant force across industries, with RISC-V and 3D IC technology garnering significant attention. Additionally, AI PCs, Edge AI, and Generative AI emerged as the most discussed and impactful innovations in the electronics sector.

Fostering Innovation and Celebrating Achievements

The 2024 EE Awards Asia series has concluded successfully, thanks to the enthusiastic participation of engineers from Taiwan and the Asia-Pacific region. Special appreciation goes to the industry partners for their strong support, including Cadence, GigaDevice, MEET International, MetaAge, Mouser Electronics, MSquare Technology, Nuvoton Technology, NXP, Texas Instruments (TI), TÜV NORD Taiwan, and Vicinity Technologies.

We eagerly look forward to the 2025 edition, where we will continue to celebrate technological innovation and collaborative achievements. For the complete list of winners and technical highlights, please refer to the attachment at the end of this article and join us in recognizing the brilliance of the 2024 EE Awards Asia!

EE Awards Asia official website: https://site.eettaiwan.com/events/eeaward2024/index.html

EE Master Forum: https://site.eettaiwan.com/events/eeaward2024/summit.html

Complete list of winners: https://site.eettaiwan.com/events/eeaward2024/index.html 

News information area (photos): https://aspencore.pse.is/3rggj7 


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Autobrains and JOYNEXT Revolutionize Smart Camera Solution Powered by Autobrains’ Affordable Safety ADAS Software

Driving the Future of Safety: Cost-Effective, AI-Powered ADAS Solutions for Global OEMs

Autobrains, a leader in automotive artificial intelligence (AI), has joined forces with JOYNEXT, a global automotive Tier-1 supplier and development partner to renowned car manufacturers for over 20 years, to offer their groundbreaking Smart Camera ADAS solution. The camera hardware and optimized control software, provided by JOYNEXT, is powered by Autobrains‘ Affordable Safety ADAS software. The single-box Smart Camera solution, optimized for cost-effective Advanced Driver Assistance Systems (ADAS), was designed to meet the evolving needs of global Original Equipment Manufacturers (OEMs). This compact system simplifies integration, reduces costs, and ensures regulatory compliance without sacrificing performance.

With ever increasing global regulations, smart cameras are a must-have in new build vehicles. The joint Smart Camera meets stringent global safety standards, including Europe’s General Safety Regulation (GSR) and Euro NCAP requirements, ensuring its readiness for widespread deployment across vehicle classes. “Building a powerful ecosystem is crucial in order to be able to offer our global customers reliable and future-oriented technologies,” says Stavros Mitrakis, CEO of JOYNEXT GmbH. “Autobrains is a fitting partner. With them, we will be able to offer reliable, high-quality, and cost-effective technologies in the field of automated driving in the future.”

Affordable Safety AI Software

“Our new Affordable Safety ADAS solution leverages Autobrains’ signature-based self-learning Liquid AI technology, delivering unparalleled efficiency and significantly lowering training, validation, and BOM (Bill of Materials) costs,” explains Igal Raichelgauz, Founder and CEO of Autobrains. “By indexing and compressing data into sparse binary representations, the AI system requires less computational power, reducing the size and cost of the SoC (System-on-Chip) and sensor needed for operation.” Autobrains’ Liquid AI mimics human brain functionality, reducing reliance on labeled data, accelerating development cycles, and minimizing data bias. This hardware-agnostic solution offers OEMs the flexibility to integrate it into existing hardware environments, making ADAS accessible to a wider range of vehicles, from premium models to compact cars, without compromising safety or performance.

ADAS as a Standard Feature

Driver assistance systems are becoming standard in all vehicle segments and regions thanks to stronger regulations and NCAP safety ratings. “Providing these assistance systems cost-efficiently to car manufacturers and drivers is a challenge for the industry,” says Manuel Yoon, General Manager Germany and VP Strategy of Autobrains. “Our contribution is to help reduce the number of accidents by providing technology that enables autonomous emergency braking, lane-keeping support, and intelligent speed assistants for everyone. In addition, we can reduce the drivers’ burden with comfort features such as adaptive cruise control with a single camera.”

Streamlined Scalability

The system eliminates the need for complex multi-component systems, reducing time-to-market while enhancing scalability. “Our smart camera combines data collection, processing and control in one compact device. There are expansion stages with an additional interior camera, which means the system can also meet driver monitoring requirements within a single module. This makes our products an attractive solution, especially for European and Asian OEMs.” emphasizes Jan Kolanko, Senior Manager for ADAS at JOYNEXT GmbH.

The new Smart Camera ADAS solution will be available for OEMs worldwide starting in early 2025. This groundbreaking solution aims to democratize advanced safety technologies, making them accessible to a broader range of vehicles and markets.

For more information about Autobrains and its innovative AI solutions, please visit www.autobrains.ai.

Autobrains – We Drive AI
Autobrains is a leading AI company in the automotive industry. Autobrains invented and developed a paradigm-shifting AI technology: Liquid AI – backed by 250+ patents addressing autonomous driving challenges. Implementing this unique AI technology for ADAS applications disrupts the market with its unprecedented perception capabilities, low compute requirements, and agnosicity to sensors and SoCs. The company is backed by strategic investors including Temasek, Knorr-Bremse, BMW i Ventures, Toyota Ventures, VinFast, Continental, and Autel.

JOYNEXT – WE CONNECT FUTURE
Intelligent solutions for connected vehicles – that’s JOYNEXT. We are working on future technologies that are becoming increasingly important for car manufacturers and their customers. On the road to autonomous driving, data communication between the vehicle and mobile devices such as smartphones, with other vehicles (V2V) or with infrastructure systems (V2I) is becoming increasingly important. JOYNEXT is also involved in the new and further development of cloud-based services.

JOYNEXT always strives for a balance between innovation and sustainability. When developing our products, we focus on the end user and their needs and usage behavior.

With more than 1,500 employees worldwide, JOYNEXT takes connected car technologies to a new level. We are present at seven locations; our development and innovation centers are located in Dresden (Germany) and Ningbo (China).

JOYNEXT is a direct supplier to the automotive industry and has been a development partner and system supplier to renowned car manufacturers for over 20 years. Our technologies in the areas of connected infotainment and smart connectivity gateways can be found in millions of vehicles worldwide. www.JOYNEXT.com

Contact Information
Sophia Eichler
Director of Marketing
media@autobrains.ai
+49 15167066494

.Source: Autobrains

First Quarterly Profit, High-Quality Platform Growth, NaaS Technology Accelerates Ecosystem Development

On November 20, NaaS Technology Inc. (NASDAQ: NAAS), the first U.S.-listed EV charging service company in China, released its Q3 2024 earnings report, showcasing an impressive performance.

According to the announcement, the company’s core strategy—its charging service business—has shown strong growth, contributing RMB 42.37 million in revenue, a 36% year-over-year increase, accounting for 95% of total revenue. This highlights the success of the company’s strategic focus, which also resulted in a significant increase in gross profit margin. In Q3 2024, the gross profit margin reached a record-high 57%, up from 38% in the previous quarter. Notably, the company achieved a critical milestone this quarter by recording its first-ever positive net profit. Non-IFRS net profit attributable to ordinary shareholders was RMB 21.2 million (US$ 3.0 million) for the third quarter, signaling a successful transition to the “high-quality development” phase, focusing on profitability and marking a significant improvement in the company’s earning capabilities.

Strategic Focus on Charging Services, Strengthening the Role as an Industry Connector

NaaS’s strong profitability this quarter is closely tied to its strategic decision to focus on its charging services business, which is a platform business in nature.

As a leader in third-party electric vehicle (EV) charging services, NaaS does not directly operate charging stations. Instead, it leverages its robust connectivity, operational, and intelligent digital capabilities to act as an “industry connector.” Positioned as a platform linking supply and demand in the EV charging industry, NaaS avoids the low-profit, high-capital-intensive energy solutions segment and emphasizes the distinct platform characteristics of its charging service business.

NaaS’s charging service business is supported by its strategic partnership with the Kuaidian APP, which serves as a traffic portal to provide interconnection services for various charging operators. The partnership expands NaaS’s user outreach while  also improving EV charging stations’ utilization and operational efficiency, by drawing to them more customer traffic . For EV owners, the service enables quick searches for nearby charging stations, including real-time status updates, improving charging efficiency and optimizing the user experience.

NaaS’s platform-driven charging services integrate various industry participants, enhance ecosystem construction on both the supply and demand sides, improve industry efficiency, and align the charging sector with the rapid growth of China’s EV industry.

This platform business requires substantial early-stage investment, including subsidies, to cultivate market habits and expand network coverage. With the rapidly evolving EV sector, characterized by technological innovation and shifting market dynamics, initial investments may be amplified. However, as the platform grows and user loyalty strengthens, the industry shifts from chaotic expansion to refined operations, with NaaS gradually realizing economies of scale and achieving profitability at scale.

According to the latest financial report, NaaS is actively aligning with industry development trends by optimizing its internal processes and improving efficiency, thereby enhancing profitability. Driven by the dual forces of market demand and user growth, NaaS is gradually entering a harvest phase.

The financial report shows that in Q3 2024, the company’s charging service business achieved steady growth in both GTR (Gross Take Rate) and NTR (Net Take Rate), with the proportion of profitable orders rising to 73%. The total charging volume transacted through the NaaS network reached 1.284 billion kWh, a 13% increase quarter-over-quarter. These factors collectively fueled the growth of NaaS’s charging service business and are the primary reasons behind the company achieving its first-ever quarterly non-IFRS net profit.

Moving Beyond Subsidy Dependence, Achieving Organic Platform Growth

In addition to its impressive profitability, NaaS’s charging service business has also demonstrated significant high-quality growth in scale. As the market matures, NaaS’s business shows clear scale advantages that continue to expand.

Recognizing industry trends and aligning with internal capabilities, NaaS began reducing user subsidies in early 2024, transitioning from subsidy-driven growth to organic growth by expanding user acquisition channels and deepening partnerships. This shift not only allowed the company to focus on the core value of its charging services—promoting intrinsic growth through improved products and services—but also supported the development of a more stable and sustainable revenue model, strengthening its competitive moat.

This shift is reflected in the financial data. Optimized subsidy policies contributed to an 81% year-over-year decrease in selling and marketing expenses to RMB 29.7 million (US$ 4.2 million) for this quarter. Despite reduced subsidies, NaaS’s platform achieved strong growth in transaction users in Q3.

Besides, latest data also show the number of connected charging stations increased by 40% year-over-year to 96,000, and the total number of connected chargers rose by 49% year-over-year to 1.146 million, outpacing the industry’s average growth rate during the same period. Significant cut in expenses does not compromise the company’s continuous growth.

AI-Driven Business Growth, Building an Industry Ecosystem

Since the launch of ChatGPT in 2022, the industry has been exploring how AI can empower various sectors, with the trend moving from general AI models to domain-specific applications—charging is no exception.

AI can process and analyze vast datasets, including user needs, market trends, and historical transaction data, to accurately forecast supply-demand dynamics and provide personalized recommendations based on user behavior. This can significantly enhance supply-demand matching efficiency and accuracy, addressing key challenges such as inefficient matching and insufficient high-quality supply in the current charging industry.

NaaS was an early adopter of AI and has demonstrated foresight in leveraging it to advance the charging industry.

As early as 2016, NaaS began developing AI algorithms to improve transportation energy supply-demand matching, operational efficiency, and intelligent energy replenishment experiences. In 2023, the company launched its NEF (NaaS Energy Fintech) system based on advanced AI algorithms. This system manages station site selection, revenue evaluation, operational scheduling, maintenance, and more, enhancing the operational efficiency and financial sustainability of regional charging operators while improving the user experience.

The scale of data often determines the intelligence level of AI algorithms. With its charging station network, NaaS has accumulated significant supply-demand data, providing an extensive stage for AI applications. In Q3, NaaS officially joined the AI Applications Alliance and is poised to continue unlocking the value of AI in the charging service industry, accelerating the digital transformation of the sector.

Beyond AI-driven advancements, the rapid growth of EVs has facilitated the integration of ecosystem resources across the charging industry. NaaS is also building its own ecosystem around its charging services by establishing long-term partnerships with automotive OEMs, charging station operators, energy companies, and the State Grid. These collaborations expand infrastructure coverage, provide user-friendly experiences, and enhance customer loyalty.

In August 2024, NaaS announced an in-depth partnership with FAW-Volkswagen to provide smart, efficient, and convenient charging experiences for NEV owners. In September, NaaS reached a strategic collaboration with IM Motors to offer enhanced service capabilities. These partnerships highlight NaaS’s ongoing efforts to expand the ecosystem in the EV charging industry, creating a comprehensive and robust service ecosystem.

With the rapid growth of NEVs, the charging industry, as a critical supporting infrastructure, has entered a phase of accelerated expansion. As a “connector” in the charging service market, NaaS leverages AI-driven algorithms to continuously integrate resources from various industry participants and collaborate with ecosystem partners to build a mutually beneficial ecosystem. According to the latest financial report, NaaS has transitioned from the early “cash-burning” stage to a phase of refined operations, with its profitability model gradually being recognized by the market. The company is poised for large-scale profitability, supported by its wide network coverage, and its future development is highly anticipated.

Will New Gonow Recreational Vehicles Make It the Next Thor Industries?

RVs have become an important means of modern travel and leisure, and have gained increasing popularity worldwide in recent years. There are numerous world-renowned RV brands, and among the RV companies that have already entered the capital market, there are three listed on the US stock market: Thor Industries (THO.US), Winnebago (WGO.US), and Camping World (CWH.US). Among them, Thor Industries has the highest market value and its stock price has risen by nearly 30% since late June this year.

Australasia is the third largest RV market in the world after North America and Europe, and is one of the fastest-growing RV markets. New Gonow Recreational Vehicles, founded by the former “Geely Marshal ” Miao Xuezhong, occupies a leading position in the market, with its performance, popularity and brand reputation continuing to improve. It is reported that after submitting its application for main board listing to the Hong Kong Stock Exchange in the first half of the year, the Company received a notice of record-filing from the China Securities Regulatory Commission on 9 September, and its IPO plan is proceeding smoothly.

The global RV market is thriving, with a diverse landscape
RVs, with the dual functions of “home” and “vehicle”, are movable homes that combine “clothing, food, housing, and transportation” in one, which can fully satisfy people’s demand for personalized and free travel. Its history can be traced back to the popularity of camping in the United States in the 1920s, and since then, RVs have rapidly become popular all over the world. With its high degree of freedom and flexibility, RV travel has become the choice of more and more travelers.

Overall, the global RV market is characterized by fierce competition and a large number of players, with the North American and European RV markets being relatively mature, while the Chinese RV market is still in its early stages. Among the well-known RV companies, Thor Industries, Forest River, Winnebago, and others in the United States have gained widespread recognition from consumers for their excellent design and high-quality manufacturing processes, and have dominant positions in the market.

Several well-known brands are distinctive, with Thor Industries known for its innovative product design and global market presence, Winnebago Industries for its high-end RVs and innovative technology, especially in its exploration of the electric RV segment, and Forest River for its reliability and diverse product line. Through continuous technological innovation and market expansion strategies, these brands have steadily maintained their positions at the forefront of the industry. Some well-known local manufacturers in the European RV market include Hymer in Germany, Dethleffs in the Netherlands, and Auto-Trail in the UK. In the Australasian market, well-known RV brands include Jayco, Snowy River, and Regent.

In terms of category, RVs can be mainly categorized into two types: towable RVs and motorized RVs. Towable RVs can be further categorized into standard caravans, pop-tops, and camper trailers. According to Frost & Sullivan (the same below), in 2023, the standard caravan was the major segment in the Australasian market, capturing a substantial 72.1% share, up from 67.1% in 2019. New Gonow Recreational Vehicles, which owns well-known brands such as Snowy River and Regent, is the top RV company in the Australasian market and ranked second in terms of sales in the Australasian market in 2023.

By accurately positioning itself, New Gonow Recreational Vehicles is able to break through and stand out in the market
Driven by a booming tourism industry and a high number of international visitors, road trips through RVs have become a mature travel method in Australasia. Measured by RV household penetration, Australasia had a remarkable ownership rate of 78.8 RVs per thousand households in 2023, significantly surpassing Europe’s rate of 21.7 and ranking second globally. Tourists traveling in RVs also inject vitality into the economy. It is expected that the total RV in use in Australasia will reach 1,175.0 thousand units in 2028, representing a CAGR of 5.7% from 2024, outpacing the growth in North America and Europe.

The Australasia RV market exhibits a relatively concentrated structure, with the top five participants holding approximately 55.4% of the market share in 2023. New Gonow Recreational Vehicles, which primarily manufactures and sells standard caravans, has a significant competitive advantage. As a high-end product in the towable RV market, standard caravans have a higher barrier to entry in terms of technology, and companies that excel in this field tend to have strong manufacturing capabilities, allowing them to innovate and produce high-quality, durable RVs equipped with advanced features and technology, and have a greater chance of competing for market pricing power and increasing brand premiums. New Gonow Recreational Vehicles is undoubtedly a top participant in this market.

According to A1 prospectus, the development journey of New Gonow Recreational Vehicles began in 2014. The Company’s founder and CEO, Miao Xuezhong, previously served as a senior executive at Geely Automobile, with over 25 years of experience in the automotive industry and extensive management experience. In September 2014, he led the Company to acquire Regent, an Australian RV brand with a history of more than 30 years, thus enabling New Gonow Recreational Vehicles to gradually expand its presence in the RV market and continue to broaden its product portfolio and stand out from the competition.

Products are the foundation of survival for RV companies, and New Gonow Recreational Vehicles offers a full spectrum of functionalities and an expansive range of auxiliary services through the design, development, manufacturing, and sales of various bespoke towable RVs. As of 31 December 2023, the Company has successfully mass-produced 39 RV models, which are all standard caravans, spanning seven distinct series under three characteristic brands: the mid-range best-selling brand Snowy River, luxury brand Regent, and semi-off-road brand NEWGEN. With a comprehensive product lineup, New Gonow Recreational Vehicles can meet the full range of demands from entry-level to high-end luxury models.

Despite the overall growth of the RV market, competition has become increasingly fierce with more and more brands entering the Australasian market. American brand Jayco has the highest market share, reaching 31.5% in 2023 and holding a leading position. The world’s largest RV manufacturers such as Thor Industries and Forest River are also continuously competing for market share. To stay ahead of the competition and achieve further development, it is essential for New Gonow Recreational Vehicles to continuously introduce new products, technologies, and services to improve its competitiveness and market share.

Overall, New Gonow Recreational Vehicles’ competitive advantages lie in its highly customizable and continuously upgraded range of RV products, strong product development capabilities, excellent manufacturing capabilities, diverse distribution channels, and high brand awareness. After about a decade of development, the Company has launched nine new models under Regent and four new models under Snowy River, as well as upgraded 13 models under Snowy River. At the same time, the Company is gradually improving its dealership network consisting of third-party dealer stores, self-owned stores, official online websites and JV stores.

Through its continuous efforts in the value chain of the RV industry, New Gonow Recreational Vehicles has been expanding its customer base in the Australasian market. In 2021, 2022 and 2023, the Company delivered a total of 1,330, 2,127, and 2,694 RVs to customers respectively, with a year-on-year increase of 59.9% and 26.7% in 2022 and 2023 respectively. In early October, at the Melbourne Leisurefest, the largest exhibition in the second half of 2024 in Melbourne, the Company launched its latest Snowy River model, PopTop and concept RV, Vancave, and received a large number of orders.

It is also worth mentioning that the Company has also followed the trend of electrification and digitalization development and actively built a sustainable and environmentally friendly path for RV electrification, becoming one of the first RV enterprises to commercialize electric RV solutions and taking the lead in the intelligent transformation of the industry. Currently, the Company is developing a trailblazing model of towable ERV equipped with intelligent technology and autonomous driving system, which is expected to be delivered in Australia by the first quarter of 2025.

In terms of financial performance, New Gonow Recreational Vehicles achieved revenues of approximately RMB300 million, RMB499 million and RMB720 million in 2021, 2022, and 2023, respectively, representing a CAGR of 55.0%, with revenues in 2023 being 2.4 times higher than those in 2021. During the same period, the CAGRs of gross profit, net profit and net cash generated from operating activities were approximately 90.1%, 77.2%, and 148.4%, respectively. The impressive profit performance and rapid improvement in liquidity not only demonstrate the Company’s successful business model, but also highlight its high-growth performance.

New Gonow Recreational Vehicles has already secured a place in the emerging Australasian RV market, which is still relatively small, but its potential is being fully demonstrated. With the huge market opportunity and its attempt to become the “first stock of Chinese RVs”, the Company is expected to become a new star in the capital market, attracting more attention from investors.