Key Developments in the Automotive Sector: Quality Oversight, Subsidies, and Market Trends as of September 26, 2025

Automotive News Summary – September 26, 2025

Market Regulation Authority: To prevent low-quality, low-price products, the National Market Regulation Administration has conducted its first special inspection of the quality of complete electric vehicle products. On September 25, the authority held a press conference focusing on the key tasks of industrial product quality safety supervision this year. Wang Shengli, director of the Quality Supervision Department, stated that in order to curb irrational competition in certain industries and mitigate the risks associated with low-priced, low-quality products, they initiated a national supervision inspection on products including photovoltaic modules and complete new energy vehicles.

Chongqing: By 2027, the coverage rate of the power battery recycling network in districts and counties is expected to reach 90%. On September 25, the Chongqing Development and Reform Commission publicly solicited opinions on the draft policy measures to support the high-quality development of the power battery recycling industry. The proposal encourages power battery manufacturers and new energy vehicle producers to establish or jointly construct recycling service points according to relevant policies and standards. It also aims to leverage existing recycling networks to expand the collection of used lithium batteries from electric vehicles and bikes. By 2027, the coverage of the recycling network is targeted to reach 90% in all districts and counties.

Zhengzhou: The city will distribute 560 million yuan in subsidies for car purchases. According to a message from the “Zhengzhou Release” WeChat account on September 25, the city will launch the “Smooth Renewal” green car purchase subsidy program for 2025. The program will provide subsidies totaling 560 million yuan on a first-come, first-served basis until the funds are exhausted. Consumers can apply for a subsidy of 3,000 yuan for new energy passenger vehicles priced between 50,000 and 150,000 yuan, and 4,000 yuan for vehicles priced at 150,000 yuan or more.

Automotive Circulation Association: It is estimated that the scale of second-hand car transactions in September will reach 1.77 million units. As of September 21, the cumulative transaction volume of second-hand cars in the country has reached 1.216 million units, a 4.5% increase compared to the same period last August. Considering seasonal demand and current trading patterns, the forecast for September is a total transaction scale of 1.77 million units, indicating steady growth compared to August.

Research Findings: European car buyers are increasingly inclined to choose Chinese brands, while the appeal of American cars is declining. According to a study by Escalent titled “Influence of Chinese Automotive Brands,” 47% of buyers are considering purchasing Chinese cars, compared to 44% for American cars. Interest in vehicles from other countries has risen among European buyers, with the exception of American brands. In 2024, this trend was reversed, with 31% considering Chinese cars and 51% considering American vehicles.

Chery Automobile: Successfully listed on the Hong Kong Stock Exchange. On September 25, Chery Automobile was successfully listed on the main board of the Hong Kong Stock Exchange under the stock code 9973. The initial public offering was priced at 30.75 HKD per share, raising a total of 9.14 billion HKD. On its first day of trading, the stock surged to 34.2 HKD per share, an increase of over 11.22%, bringing its market value close to 200 billion HKD, specifically at 197.2 billion HKD.

Seres: The company has received approval from the China Securities Regulatory Commission for issuing overseas listing foreign capital shares (H-shares). On September 25, Seres announced that it received a notice from the CSRC regarding its plan to issue no more than 331,477,235 ordinary shares for overseas listing and to list on the Hong Kong Stock Exchange. If the issuance is not completed within 12 months from the date of the notice, the company will need to update its registration materials to continue.

Qianli Technology: Shareholder Lifan Holdings intends to transfer 3% of the company’s shares to Mercedes-Benz Digital Technology. On September 25, Qianli Technology announced that its shareholder, Chongqing Lifan Holdings, had not completed a stock pledge repurchase transaction as per the agreement. Thus, the creditor, Shenwan Hongyuan Securities and Huachuang Securities, intends to dispose of the shares held by Lifan Holdings through a negotiated transfer. Lifan Holdings will transfer a total of 136 million shares (3% of the company’s total equity) at a price of 9.87 yuan per share to Mercedes-Benz Digital Technology, amounting to 1.339 billion yuan to settle related debts.

Xiaopeng Motors: Plans to mass-produce the world’s first “car + airplane” flying car by 2026. Xiaopeng’s Chairman and CEO, He Xiaopeng, announced during the “Phoenix Bay Area Financial Forum 2025” that they will start mass production and delivery of their innovative flying car in 2026. The company has developed seven generations of prototypes, investing billions in the project.

Geely: Over 4 million cars worldwide are now using the CMA architecture. On September 25, Geely revealed that over 30 years of experience have led to a global strategic framework that includes five major design centers, engineering research and development centers, testing areas, energy technologies, and AI ecosystems. The CMA architecture, known for its modularity and high compatibility, is now used in multiple brands including Geely, Lynk & Co, Zeekr, and Volvo, surpassing 4 million vehicles globally. This design reduces development costs across different brands while enhancing technological iteration efficiency.

Mercedes-Benz and Momenta: Jointly develop a new generation of intelligent driving assistance. The first car, the CLA, will be launched this autumn. On September 25, Mercedes-Benz and Momenta announced that their jointly developed intelligent driving assistance system, based on Momenta’s large model, will debut on the new fully electric CLA model, offering smart driving assistance features for highway, urban, and parking scenarios.

BYD: Launched the second generation of the Qin PLUS starting at 69,800 yuan. On September 25, BYD unveiled the second generation of the Qin PLUS with three new models, with promotional pricing beginning at 69,800 yuan. Additionally, the fuel consumption for the Qin PLUS DM-i has been further optimized to as low as 2.69L per 100 km through over-the-air updates.

Changan: New fourth-generation CS55 PLUS available starting at 78,900 yuan. On September 25, Changan launched the new fourth-generation CS55 PLUS, featuring four models with prices ranging from 78,900 to 96,900 yuan, including extensive replacement subsidies and limited-time holiday bonuses. The new model is equipped with advanced driving assistance systems and a powerful new engine.

Great Wall’s Ora Brand: Debuted its first A-class pure electric SUV, the Ora 5. On September 25, Great Wall Motors held a design appreciation meeting to present the Ora brand’s first A-class pure electric SUV, the Ora 5, featuring a unique design language and multiple interior color options.

Tesla: Experienced a nearly 37% decline in new vehicle registrations in Europe in August. On September 25, data from the European Automobile Manufacturers Association indicated that new car registrations in the EU grew by 5.3% in August, totaling 677,786 units, with Tesla’s registrations down significantly while BYD’s rose by 201%.