With a registered capital of 2 billion, Geely Baidu established Jidu Automobile: On March 2, 2021, according to the Tianyancha App, Geely and Baidu established a new joint venture company. The joint venture company is called "Jidu Automobile Co., Ltd.". The new company has a registered capital of 2 billion yuan, and Xia Yiping concurrently serves as the legal representative, chairman and general manager. The company's business scope includes technical services for new energy vehicles and related parts; auto parts and accessories manufacturing; sales of new energy vehicles; auto parts wholesale; information system integration services; car leasing; industrial investment, etc.

Xiaomi is negotiating with Great Wall Motors to use its factory to produce electric cars: In February of this year, according to a report in LatePost, Xiaomi had decided to build a car and regarded it as a strategic decision. Subsequently, the Xiaomi Group issued an announcement stating that Xiaomi has always been concerned about the development of the electric vehicle ecology and has conducted continuous evaluation and research on the trend of related industries. At the same time, Xiaomi Group stated in the announcement that the research on the electric vehicle manufacturing business has not yet reached the formal project stage. In March, it was reported that Xiaomi was negotiating with Great Wall Motors to use its factory to produce electric cars, or announced a cooperation as soon as next week.

Decline by 20%. New energy vehicle subsidy policy released in 2021: On December 31, the Ministry of Finance and the Ministry of Industry and Information Technology issued a number of notices on further improving the fiscal subsidy policy for the promotion and application of new energy vehicles. The information is officially released: In 2021, the new energy vehicle subsidy standard will decline by 20% on the basis of 2020.

Volvo Cars announces its electrification strategy: On March 2, Volvo Cars announced its global sustainable development strategy goals. Focusing on areas such as electrification transformation, business model innovation, and climate neutrality, Volvo Cars has given a specific timetable-full electrification will be achieved in 2025, when the proportion of pure electric vehicles will reach 50%, and the rest will be hybrid vehicles; 2030 Become a pure electric luxury car company; strive to become a climate zero load benchmark enterprise in 2040; all pure electric models will only be sold online.

Accelerate the layout of electrification. Geely's new company may land in Hefei: The new electric vehicle company planned by Geely Automobile is expected to settle in Hefei Beicheng New District. According to previously exposed news, the new company may be named Lingling Technologies ("00科技" in Chinese). It will be independent of the traditional automotive sector and will be responsible for leading the models produced based on the SEA vast intelligent evolution experience architecture, as well as the existing Lynk & Geometry Marketing of brand electric vehicles.

Global electric vehicle sales in 2020 increased by 44% year-on-year: In 2020, global electric vehicle sales totaled 2.943172 million units, an increase of 44.6% year-on-year. The development of electric vehicle markets in Europe and China has driven the growth of global electric vehicle sales. Last year, the European electric vehicle market reached 1.29 million units, a year-on-year increase of 133.5%; the Chinese market was 1.2 million units, the country with the highest sales of electric vehicles.