On July 1, two mandatory national standards—"Safety Requirements for Traction Batteries of Electric Vehicles" (GB 38031-2025) and "Safety Requirements for Electric Vehicles" (GB 18384-2025)—will officially come into force. This marks the first time in China's new energy vehicle sector that both battery‑specific and vehicle‑level core safety standards take effect on the same day. The new battery standard establishes "no fire, no explosion" as a mandatory requirement, replacing the previous technical threshold of "providing an alarm signal 5 minutes before fire or explosion." The updated standard also adds tests including bottom impact testing and safety testing after fast‑charging cycles. The vehicle standard requires the installation of an independent physical one‑button emergency power‑off device. The two standards will be implemented in phases: all newly applied vehicle models submitted after July 1 must fully comply with the new rules, while models already approved and on sale are granted a one‑year transition period until full compliance is required by July 2027. Industry players across the supply chain have already entered the final stages of certification review and production‑line retrofitting.

The South Korean government has begun work to establish a system that officially certifies the value of key minerals extracted from waste batteries, such as lithium and nickel, as recycled raw materials. The Ministry of Climate, Energy and Environment announced on June 25 that it signed a memorandum of understanding (MOU) for a pilot project on the battery recycled raw material production certification system at the President Hotel in Seoul, with six waste battery recycling companies and the Korea Environment Corporation participating. Through the pilot project, the government plans to verify the certification method in actual production processes before fully implementing the system in May next year. The battery recycled raw material production certification system is a scheme under which the government officially confirms that key battery materials, such as lithium, nickel and cobalt, produced by recycling waste batteries recovered from electric vehicles and other sources are recycled raw materials derived from waste resources. The certification will cover eight types of materials: lithium carbonate, lithium hydroxide, nickel sulfate, cobalt sulfate, manganese sulfate, graphite, mixed metal precipitate and cathode active materials.

Eldorado Gold announced that its McIlvenna Bay underground copper and zinc project in Saskatchewan, Canada, achieved a major milestone by producing its first copper concentrate in June 2026. The site team is now focused on ramping up operations toward commercial production, which is anticipated in Q3 2026 with a nameplate processing capacity of 4,900 tonnes per day. As of June 2026, the volcanogenic massive sulphide (VMS) deposit hosts mineral reserves of 29.7 million tonnes, grading a significant 2.17% zinc and 1.21% copper, along with 0.44g/t gold and 14.4g/t silver. Once fully operational, the 18-year mine is projected to produce an average of 54 million lbs of zinc, 41 million lbs of copper, 20,000 oz of gold, and 444,000 oz of silver annually. Eldorado acquired the project via its C$3.8 billion acquisition of Foran Mining in April 2026. The modern underground operation utilizes battery-electric vehicles (BEVs) and conventional flotation circuits to produce separate premium copper and zinc concentrates for toll smelters.

SNEC 20th (2027) International Solar PV and Smart Energy & Energy Storage and Battery (Shanghai) Conference and Exhibition SNEC 20th (2027) International Photovoltaic Power Generation and Smart Energy Conference & Exhibition 2027 6 2-4 National Exhibition and Convention Center (Shanghai), China Songze Avenue, Qingpu District, Shanghai 333 Multi-Energy Complementarity and Integrated Development of PV, Energy Storage, and Hydrogen Pre- face: Co-organized by 25 international institutions and organizations including the Asian Photovoltaic Industry Association (APVIA), the Chinese Renewable Energy Society (CRES), the Renewable Energy Professional Committee of the China Association of Circular Economy (CREIA), the Shanghai Federation of Economic Organizations (SFEO), the Shanghai Science and Technology Exchange Center (SSTEC), and the Shanghai New Energy Industry Association (SNEIA), the “SNEC 20th (2027) International Solar PV and Smart Energy & Energy Storage and Battery (Shanghai) Conference and Exhibition” (hereinafter referred to as the “SNEC PV Conference and (Shanghai) Exhibition”) is scheduled to be grandly held in Shanghai, China, from June 2-4, 2027. The “SNEC PV Conference and (Shanghai) Exhibition” has grown from 15,000 m² at its first edition in 2007 to 360,000+ m² in 2026, attracting more than 2,800 enterprises from 95 countries and regions worldwide, with international exhibitors accounting for 30%, and has become the most influential international, professional, and large-scale PV event in China, Asia, and the world. The SNEC PV Exhibition is the world’s most professional PV exhibition, featuring exhibits including PV production equipment, materials, solar cells, PV application products and modules, as well as PV projects and systems, energy storage, mobile energy, and more, covering every segment of the PV industry chain. The SNEC PV Forum also offers an exceptionally rich and diverse range of formats, covering analysis of future market trends in the PV industry, strategies for cooperative development, policy directions of various countries, the industry’s most cutting-edge technologies, PV finance, and more, making it the best opportunity to showcase achievements to the industry. We look forward to gathering with relevant industry players from around the world in Shanghai, China, to take an industry-wide, problem-oriented perspective, jointly assess the solar PV power generation markets in China, Asia, and the world, and together lead the path of innovative development for the industry. May we meet in Shanghai in June 2026! Schedule: Move-in: May 30, 2027 13:30-18:00 May 31, 2027 & June 1, 2027 9:00-20:00 Exhibition: June 2-3, 2027 09:00-17:00 June 4 09:00-14:00 Move-out: June 4, 2027 14:00-24:00 Organizing Institutions: Approving Authority Shanghai Municipal Commission of Commerce Lead Organizers Asian Photovoltaic Industry Association (APVIA) Chinese Renewable Energy Society (CRES) Renewable Energy Professional Committee of the China Energy Research Society Shanghai Federation of Industrial Economics (SFIE) Shanghai Science and Technology Exchange Center (SSTEC) Shanghai New Energy Industry Association (SNEIA) Co-organizers Global Green Energy Industry Council (GGEIC) Asia-Pacific New Energy Industry Association (NEIAAP) China Electric Power Construction Enterprise Association (CEPCA) Photovoltaic Professional Committee of the Chinese Renewable Energy Society (CPVS) Renewable Energy Professional Committee of the China Association of Circular Economy (CREIA) Supporter Solar PV Products Sub-Council of China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) Exhibition Organizers Shanghai Follow Me Technology Co., Ltd. Shanghai Solarun Exhibition Service Co., Ltd. Follow Me Int'l Exhibition USA Inc. Follow me International Exhibition Co., Ltd. Exhibit Scope (Exhibit Categories): Solar PV A. PV Production Equipment: Silicon rod, silicon lumps, and silicon ingot production equipment: complete production lines, casting ingot furnaces, crucibles, growth furnaces, and other related equipment Silicon wafer and wafer production equipment: complete production lines, cutting equipment, cleaning equipment, detection equipment, and other related equipment Battery production equipment: Complete production lines, etching equipment, cleaning equipment, diffusion furnaces, coating equipment/deposition furnaces, screen printing machines, other furnace equipment, testers and sorters, other related equipment Panel/Module production equipment: Complete production lines, testing equipment, glass cleaning equipment, tabbing/welding equipment, lamination equipment, etc. Thin-film panel production equipment: Amorphous silicon cells, CIS/CIGS cells, CdTe thin-film cells, DSSC dye-sensitized cells production technology and research equipment B. Solar Cells: Solar cell producers, module producers, module installers, agents, dealers and distributors, concentrator cells, etc. C. PV-Related Parts: Batteries, chargers, controllers, converters, recorders, inverters, monitors, mounting systems, tracking systems, solar cables, etc. D. PV Raw Materials: Polysilicon, silicon ingots/silicon lumps, silicon wafers, encapsulation glass, encapsulation film, other raw materials E. PV Application Products: Lighting products, power supply systems, portable chargers, water pumps, solar household products and other solar products F. PV Engineering and Systems: PV system integration, solar air conditioning systems, rural PV power generation systems, solar detection and control systems, solar heating system engineering, PV engineering process control, engineering management and software development systems G. System Construction Equipment and Safety Protection: Electrical construction equipment, construction vehicles, engineering machinery, maintenance tools, aerial work platforms/vehicles, scaffolding, electrical safety tools, personal protective equipment H. Others Solar Energy and Green Building: A. Solar Thermal Utilization: Solar central hot water systems, household solar water heaters, solar heat pump water heaters, solar thermal collection systems, solar heating systems, integrated solar thermal and PV products, solar water heater manufacturing equipment, solar water heater raw materials and accessories B. Solar PV and Solar Thermal Power Generation: Grid-connected PV power generation systems, off-grid PV power generation systems, PV-wind hybrid power generation systems, PV transmission and distribution equipment, PV modules and components and equipment, parabolic trough systems, tower systems, dish systems, heat collection tubes, thermal storage equipment and materials, heat exchange technology and products, high-temperature heat transfer technology and products, system control C. Solar Cooling Systems and Equipment: Solar cooling products and systems, air-source products, solar central air conditioning, ground-source heat pump air conditioning D. Solar Lighting and Building Materials: Solar lawn lights, garden lights, solar street lights and other photovoltaic lighting products, solar PV glass, solar roof modules, integrated building-integrated PV (BIPV) solutions, etc. E. LED Technology and Products: LED lighting, LED application products, display products/digital signage, parts, modules, kits, etc. F. Solar Accessories: Solar complementary automatic control devices and instruments, solar pipes and fittings, solar control systems, solar heat pipes, evacuated tube collectors, flat plate collectors, manifold headers, insulation materials, hot and cold water pumps, mounting structures, PV equipment accessories, batteries, and related production equipment and accessory materials International Energy Storage Technology and Smart Grid A. Energy Storage Technology, Equipment and Materials: Compressed air energy storage, pumped hydro storage, superconducting magnetic energy storage, flywheel energy storage, thermal/cold storage, hydrogen storage and other energy storage technologies, equipment and materials applicable to plug-in electric vehicles; various types of batteries (nickel–metal hydride batteries, lithium-ion batteries, lithium polymer batteries, lead-acid batteries, smart batteries, sodium-sulfur batteries), energy storage power supplies, supercapacitors, regenerative fuel cells, flow batteries and other technologies, equipment and materials B. Energy Storage Power Stations and EPC Projects: BMS battery management systems, PCS energy storage inverters, microgrids, EV charging and battery swapping stations and related supporting facilities C. New Energy Generation Grid Connection and Smart Transmission and Distribution: Grid-tie inverters, lightweight DC equipment, operation monitoring devices, grid-connection control systems, flexible transmission equipment, ultra-high voltage transmission equipment, high-temperature superconducting equipment, high-temperature superconducting cables, distribution automation systems and protection devices, intelligent switchgear, transformers, instrument transformers, smart components, digital substations, substation integrated automation, distribution network automation devices, online monitoring of transmission and distribution, fault diagnosis and self-healing devices, power quality monitoring, harmonic control and reactive power compensation, superconducting electrical technology, various new types of wires and cables, composite materials, safety protection D. Grid Dispatching and Automation Control: Smart grid dispatching system, integrated dispatching data platform system, grid security and control, intelligent inspection system, integrated measurement, control, protection and arc suppression line selection system, security and stability control system solutions, electric energy monitoring system and microcomputer-based relay protection, wide-area dynamic monitoring system, online grid stability monitoring system, intelligent reactive power compensation devices for distribution networks, control software, remote control and telemetry devices, large-screen display systems, power system simulation E. Smart Metering and Electricity Consumption Management: Smart meters and chips, remote/centralized meter reading systems, electricity consumption information collection systems, electricity consumption management information systems, load management terminals, monitoring systems, testing devices, metering cabinets and components, measuring instruments, sensors, semiconductors F. Smart Grid Information and Communication: IoT technology, cloud computing technology, multi-network convergence technology, transmission technology and equipment, access equipment, optical fiber cables, industrial Ethernet, data communication and network technology and related products, in-plant communication equipment, power line carrier devices, supporting equipment and instruments, digital microwave communication equipment, testing equipment and instruments, online network monitoring equipment G. Others International New Energy Vehicles and Charging Piles A. New Energy Vehicles (Passenger Vehicles / Commercial Vehicles): Electric buses and trucks, electric cars, electric sightseeing vehicles, electric golf carts, electric cleaning vehicles, hybrid buses and cars, solar EVs, light-duty EVs, hybrid vehicles (micro hybrid, mild hybrid, full hybrid, plug-in hybrid), pure electric vehicles, fuel cell vehicles, hydrogen, natural gas and other new energy clean fuels, hybrid vehicles and various low-emission, environmentally friendly and energy-saving vehicles; B. Powertrain and Drive Systems: Power batteries, battery management systems, fuel cells, hybrid systems, drive motors, electric control systems, engines, testing and repair equipment, relevant testing, monitoring and protection instruments, related technologies; C. Key Parts for New Energy Vehicles: Power capacitors, supercapacitors, flywheels, inverters, electric heat pumps, electric power steering, electric air conditioning, tires, wiring connections, electromagnetic technology, related materials; coatings, gearboxes, filters, carburetors, exhaust systems; axles, steering, braking, suspension systems; auto body accessories; motors and electrical appliances, electronic devices, electrical systems, circuits, wheel hubs, tires, etc.; D. Automotive Design: Complete vehicle design, system control design, etc. E. Charging Facilities: Charging stations, charging piles; smart network project planning and achievement display for charging stations, expansion of gas stations into charging (battery swapping) stations, display of integrated fueling and charging service stations, solar and wind energy complementary new energy vehicle charging station technology and products, charging station power distribution equipment, chargers, power monitoring systems, active power filters, transformers, distribution cabinets, cables, direct charging equipment, management auxiliary equipment, charging and swapping batteries and battery management systems, parking lot charging facilities, intelligent monitoring, charging station power supply solutions F. Others Exhibition Fees: Standard Booth (Premium, 3m x 3m ): Domestic enterprises: RMB 23,800/unit; Foreign-invested enterprises: US$4,900/unit Basic configuration: one information desk, two folding chairs, one wastepaper basket, one 220V/500W power socket, two spotlights, bilingual (Chinese and English) header board, and carpet within the booth. Indoor Bare Space (minimum 36 m²): Domestic enterprises: RMB 2,380/m 2 Foreign-invested enterprises: US$490/m 2 Notes for Exhibitors: 1. After confirming participation, exhibitors should complete the exhibition application form, affix their official seal, and fax or mail it to the organizing committee; 2. Upon receiving booth reservation fees, the organizing committee will allocate booths according to the principle of "first application, first payment, first allocation"; 3. Payment terms for exhibition fees: (1) The above exhibition fees do not include "construction deposit", "construction management fee", "facility rental fee", etc.; (2) Exhibitors who have signed contracts shall remit the deposit to the organizing committee's account within ten working days from the date of signing the contract, and fax the remittance voucher to the committee for verification; (3) The remaining exhibition fees must be remitted to the account designated by the organizing committee before December 31, 2026; 4. The order of advertisements in the conference booklet is based on the sequence of receiving advertising fees, with a deadline for inclusion of March 31, 2027; 5. The organizing committee will send the Exhibitor Manual to exhibitors in April 2027. Welcome to Inquire: Shanghai Fulimi Technology Co., Ltd. SNEC 20th (2027) International Solar PV & Smart Energy & Energy Storage & Battery (Shanghai) Conference & Exhibition Contact: Manager Wei Tel: +86-13817218765 (same as WeChat) E-mail: weiwei@snec.org.cn

In June 2026, the hydrogen energy transportation equipment sector in the Xixian New Area saw new progress. A Skyworth-brand hydrogen fuel cell low-floor city bus, with its hydrogen core power system independently developed by resident enterprise Shengshi Yingchuang Hydrogen Energy Technology (Shaanxi) Co., Ltd. and equipped with its hydrogen fuel cell system, recently rolled off the production line. This model has been included in the 389th batch of the "Announcement of Road Motor Vehicle Manufacturers and Their Products" by the Ministry of Industry and Information Technology, laying a foundation for commercial operation. With the roll-off, Xixian New Area has added new support for the demonstration application of hydrogen fuel cell buses and the green transformation of urban transportation. It is understood that the hydrogen core power system of this city bus was entirely led and developed by Shengshi Yingchuang. The vehicle is equipped with the company's independently developed 90 kW hydrogen fuel cell system , and a Type IV high-end on-board hydrogen supply system jointly created with Beijing Tianhai. Compared with traditional battery electric buses, hydrogen fuel cell buses offer differentiated advantages in refueling efficiency, low-temperature adaptability, and long driving range operation, making them more suitable for the high-frequency, long-duration operational demands of bus routes. A relevant person in charge of Shengshi Yingchuang stated that the vehicle's power system features independent controllability, strong adaptability, and stable operation, which can improve vehicle operational efficiency while ensuring safety. The vehicle's combined driving range reaches 550 km , and with its fast hydrogen refueling capability, it can alleviate issues such as driving range decay and long refueling times that battery electric buses face in low winter temperatures, offering strong adaptability to the climatic conditions of north-west China and urban public transportation scenarios. Hydrogen energy is regarded as an important direction for green and low-carbon transition. The "Medium and Long-Term Plan for the Development of the Hydrogen Energy Industry (2021–2035)" issued by the National Development and Reform Commission and the National Energy Administration proposes to orderly promote demonstration applications in the transportation sector, focus on promoting the application of medium and heavy-duty hydrogen fuel cell vehicles, and gradually form a complementary development pattern of fuel cell electric vehicles and lithium battery electric vehicles. In the Xixian New Area, the hydrogen energy industry chain is accelerating its agglomeration. At present, the new area has attracted over a hundred hydrogen energy upstream and downstream enterprises such as Xushun Times and Shengshi Yingchuang, covering fields including PV electrolysis hydrogen production, liquid and solid-state hydrogen storage, fuel cell manufacturing, hydrogen refueling station construction, and the R&D and production of hydrogen commercial vehicles. The number of related enterprises has accounted for more than one-third of the total number of hydrogen energy enterprises in Shaanxi Province and nearly 70% of similar enterprises in Xi'an, preliminarily forming an **integrated industry ecosystem of "R&D breakthroughs, equipment manufacturing, and demonstration applications."** Going forward, Xixian New Area will continue to expand the integrated application of hydrogen energy in transportation, energy, industry, and other fields, deepen industry-university-research collaborative innovation, improve industrial supporting facilities and enterprise service systems, and attract more high-growth enterprises for cluster development. As demonstration scenarios continue to expand, the hydrogen energy industry is expected to become a significant growth point for the new area's green and low-carbon transition and high-quality development.

On June 17, 2026, the 2026 SMM (3rd) ASEAN Automotive Supply Chain Conference , organized by Shanghai Metals Market (SMM), successfully wrapped up at the Hyatt Regency Bangkok Suvarnabhumi Airport in Bangkok, Thailand! This conference serves as an annual gathering of Southeast Asia's auto industry, bringing together 500+ delegates, 40+ speakers, 10+ partners and 35+ exhibitors from 15+ countries. Conference Background The Southeast Asian EV industry is at a strategic crossroads. Thailand's "30/30" policy is driving adoption, with EV penetration projected to near 15% by 2025. Indonesia is building a full battery chain using its nickel resources, while Vietnam's market potential grows. Amidst supply chain restructuring and technological competition, strategic action is key. The 3rd SMM Asean Automotive Supply Chain Summit 2026 is designed to empower businesses by focusing on: Unlocking NEV Potential: Analyzing ASEAN's role as a production/export hub and examining OEM technology roadmaps. Bridging the Supply Chain: Leveraging SMM's platform to integrate resources and facilitate deals. Establishing a Price Benchmark: Promoting the use of SMM Southeast Asia metals price assessments in procurement. We believe in turning consensus into action. Join us in Bangkok in 2026 to transform strategic blueprints into tangible advantages. 》Click to Watch the Conference Live Video 》Click to View the Conference Photo Live Stream June 16 Main Forum Opening Address Speaker: Adam Fan, Chairman of SMM Opening Keynote: Thailand EV Outlook 2026 Guest Speaker: Dr. Yossapong Laoonual, Honorary Chairman and Advisors, Electric Vehicle Association of Thailand (EVAT) Dr. Yossapong Laoonual noted that the ownership of battery electric vehicle (BEV) models is expected to surpass that of hybrid models in the medium and long term. Thailand’s BEV penetration rate will also rise steadily, supported by well-developed charging infrastructure. Data shows that the number of DC charging piles in Thailand has continued to grow, with installations already exceeding the government’s planned phased targets. The country’s 2030 charging pile target is 12,000 units, and multiple supporting regulations for motor vehicles have already been implemented locally. Local planning stipulates that each pile should serve 10-15 BEVs. Compared with markets outside China, where each pile in Europe serves fewer than 15 BEVs on average and in China fewer than 10, Thailand currently faces an imbalanced vehicle-to-pile ratio and still requires the large-scale addition of new charging piles. Thailand’s charging piles are primarily located at gas stations, with shopping malls and office buildings as secondary deployment sites. Local gas stations feature diverse commercial formats, offering excellent conditions for setting up charging stations. However, range anxiety remains widespread among consumers, and charging facilities along highways need to be further improved to alleviate concerns about recharging on the road. Opening Keynote: Southeast Asia’s New Automotive Ambition:Can Industry Players Successfully Navigate Transformation Amid Challenges? Guest Speaker: Krzysztof Tokarz, Chairman of the Automotive Working Group, TEBA Founder of Auteneo He stated that there were four core strategic challenges in the electrification transformation of Southeast Asian automakers: First, a shortage of professional talent, with undersupply of high-quality talent in the EV and software fields, fierce competition for industry talent, and enterprises needing to plan for talent cultivation and retention; Second, cross-cultural coordination difficulties: significant differences in working models among Chinese, Japanese, Korean, European, American, and local enterprises, which easily led to issues such as lack of trust and poor cooperation; Third, complex and changing regional regulations: fragmented regulatory systems across Southeast Asian countries, with a fast pace of policy updates over the past year or more, placing high demands on enterprises' policy adaptation capabilities; Fourth, profitability pressure, as electrification reshaped the pricing system, with many automakers experiencing simultaneous contraction in revenue and profit margins, necessitating the exploration of long-term profitable models. Overall, he believed that while he currently maintained a cautiously optimistic attitude towards the development of industry technology and products, the aforementioned challenges still urgently needed to be addressed. Panel Discussion: Leadership Dialogue: East Asian Titans' "Southeast Asian Chessboard" Moderator: David Huang, The Head of Strategy, Marketing and Business Development, Forvia China Panelists: Dr. Yossapong Laoonual, Honorary Chairman and Advisors, Electric Vehicle Association of Thailand (EVAT) Suphot Sukphisarn, Honorary Chairman, Auto Parts Industry Club (APIC), The Federation of Thai Industries (FTI), Deputy Secretary General, Thai Auto-Parts Manufacturers Association (TAPMA） Krzysztof Tokarz, Chairman of the Automotive Working Group at TEBA, Founder of Auteneo Dr. Viroj Patcharawatanakul, Chief Marketing Officer (CMO), AAPICO Hitech PCL. The panelists noted that ASEAN countries have distinct industrial advantages: Malaysia has ample electronic factory resources, Indonesia possesses mineral resources needed for battery production, and Vietnam offers comprehensive labor incentive policies. To fully leverage each country's locational appeal, overall integrated planning is required. The ASEAN NEV market is expanding rapidly overall, with the regional EV penetration rate more than doubling. Thailand and Vietnam have seen impressive growth in XEV production and sales. Local vehicle production capacity remains stable, and Chinese new energy brands such as BYD, MG, and Great Wall have established a presence in Thailand, driving up demand for new energy parts supply. Thailand has a well-established multi-tier parts supply system: 27 vehicle manufacturers, 500 Tier 1 suppliers, and 1,800 Tier 2 and Tier 3 parts producers. Traditional mechanical processing industries like stamping, injection molding, rubber processing, machining, casting and forging, and assembly have a solid foundation, with huge annual parts capacity, providing the manufacturing capability to support new energy parts production. Keynote Speech: Navigating Automotive Disruption in Southeast Asia Guest Speaker: Timothy Wong, Principal, Roland Berger Roland Berger noted that AI-driven automation continues to advance and autonomous driving is developing steadily. It is expected that by 2040, autonomous driving will still struggle to become mainstream. However, AI technology has already disrupted the automotive industry, becoming a core driving force for enterprises to build differentiated advantages, enhance competitiveness, and innovate business models. The automotive industry is currently undergoing comprehensive disruptive changes, mainly in five dimensions: First, the automotive supply chain value chain is undergoing fundamental transformation, with vehicles and core parts upgrading toward electrification and electronics. Industry enterprises urgently need to adjust their product structures and proactively position themselves in emerging tracks; passively responding to market changes will entail significant risks. Second, the nature of automotive products is being reshaped by technology, shifting from traditional mechanical vehicles to software-defined vehicles. Sole mechanical manufacturing capabilities can no longer meet development needs; enterprises must build diversified cooperation ecosystems involving semiconductors, software, and sensors to cultivate new industrial capabilities. Third, the consumer market is undergoing significant iteration, with consumer car purchase preferences gradually tilting toward emerging brands, and industry competition continuing to intensify. Fourth, the pace of market iteration has greatly accelerated. Compared with the model update pace of once every few years by traditional automakers, Chinese brands iterate at a much faster pace, forcing the supply chain toward agile transformation and adaptation to rapidly changing vehicle specifications. Fifth, the aftersales distribution model is being disrupted, with traditional parts revenue being impacted by the growth of EVs. New direct-to-consumer models are emerging, requiring enterprises to restructure their distribution networks and expand aftersales services related to power batteries and electrification. Overall, all industry participants must proactively face transformation risks, actively transform and strategically restructure supply chains, vigorously explore new clients and deploy new businesses, abandon passive thinking that clings to existing models, and proactively plan future business development directions, so as to continuously maintain market competitiveness. Keynote Speech: Moving Beyond Negotiation: Fostering a New Framework for Southeast Asian Supply Chain Collaboration Based on the SMM Price Index Guest Speaker: Sing Yao, Director of Steel Business Unit, SMM Information & Technology Co., Ltd. She noted that Southeast Asia as a whole exhibits low per capita automobile ownership, limited NEV penetration, and a large young population, which holds enormous incremental market potential. This vast blue ocean is attracting leading Chinese NEV manufacturers to accelerate their footprint in the region. At the same time, however, Southeast Asian auto parts are highly dependent on imports, and the industry chain has long faced two major pain points: procurement difficulties and disorderly pricing. The launch of the SMM Southeast Asia Price Index may open up a new path for collaborative development of the local automotive supply chain. Low Per Capita Automobile Ownership, Limited NEV Penetration, and Large Young Population Create Vast Market Opportunities for Automakers According to SMM, in recent years, Southeast Asia’s automotive industry chain has shown remarkable resilience, with regional automobile production growing by 24.1% from 2020 to 2022. Although 2024 saw a cyclical decline for the first time due to global economic sluggishness, the decline in production and sales in Thailand and the broader Southeast Asian market has narrowed in 2025, underscoring the self-repair capability of the regional supply chain. As the region’s core hub, Thailand continues to dominate Southeast Asia’s automotive industry landscape with a capacity share of over 40%. In the short term, Thailand will maintain its position as a regional production center and export base, but its long-term competitive advantages are facing structural challenges: the sustained contraction of local capacity and the upgrading of neighboring countries’ industry chains are compelling it to accelerate technological transformation and supply chain restructuring. Driven by the immense allure of this industry “blue ocean,” leading Chinese NEV manufacturers are accelerating their expansion into the Southeast Asian automotive market. Keynote Speech:Baowu JFE Southeast Asia Strategy Sharing Guest Speaker: Liang Chen, Vice General Manager, Baowu Jiefuyi Special Steel Co., Ltd. He that overall steel production in Southeast Asia is declining, but the penetration rate of new energy electric vehicles (EVs) is surging: Thailand’s EV-related demand is up 80% YoY, while Indonesia’s demand has experienced a multiple-fold rise, with subsequent growth potential continuing to be released. Local NEV manufacturers previously purchased Japanese steel, but are gradually switching suppliers now, driven by industry competition and cost pressure. This also represents a core opportunity for the company to promote its supporting supply services. Leadership Panel: The Steel vs. Aluminum Debate and Cost Challenges Moderator: Michelle Leung, Head of Asia Metals and Mining, sustainability, Bloomberg LP Panelists: Thanakorn Thangwanichkapong, Director of Asia Operations, Maxion Wheels Martin Dilly, Southeast Asia Area Sales Director, Bureau Veritas The panelists noted that multiple disruptions, including the situation in the Strait of Hormuz and national tariff adjustments, have moved beyond short-term impact and are driving the restructuring of the entire steel and aluminum industry chain, with the structural transformation of the aluminum industry being particularly pronounced. Global supply chain vulnerability continues to intensify, and upward cost pressure on the industry has increased. Tariff barriers are reshaping the global trade landscape, and market competition is becoming increasingly fierce. The implementation of industrial localization has accelerated, but the pace of progress in Southeast Asia has seen a slowdown. Overall, only enterprises that possess both flexible logistics and procurement capabilities and a robust compliance management system can gain an advantage amid the industry transformation. Keynote Speech: Analysis of Southeast Asia's Secondary Aluminum Market and Price Trends Guest Speaker: Wong Yan Ling, Senior Aluminum Analyst, SMM Information & Technology Co., Ltd. She noted that Southeast Asia has become one of the fastest-growing secondary aluminum markets globally, and the worldwide competition for scrap resources is continuously reshaping the regional supply landscape. As resource protection policies are progressively implemented across various countries and regional manufacturing demand steadily expands, ASEAN countries are expected to further consolidate their core position in the global secondary aluminum industry chain. Regarding secondary aluminum price trends in H2 2026, SMM analysis suggests that weak seasonal demand in Southeast Asia may suppress the upside room for secondary aluminum prices, while the geopolitical situation in the Middle East remains a key variable affecting market trends. If shipping through the Strait of Hormuz returns to normal, cost pressures from logistics could ease. However, persistently tight scrap supply coupled with potential logistics disruptions may still drive up regional secondary aluminum prices. Specialized Seminar: Co-building a Resilient Automotive Materials Supply Chain for Southeast Asia Moderator: Sing Yao, Director of Steel Business Unit, SMM Information & Technology Co., Ltd. Panelists: Zongyan Fu, Purchasing Manager, Changan Auto Southeast Asia Co., Ltd. Weijiang Xue, Chief Engineer of Product R&D, Jiangsu Yonggang Group Co.,Ltd. Hui Yuan, General Manager, Tianjin Dewy Metal Surface Treatment Co., Ltd. Yi Huang, Deputy General Manager, Guangdong Superband Precision Industry Co.，Ltd. Thanakorn Thangwanichkapong, Director of Asia Operations, Maxion Wheels Hongwei Liu, General Manager, BYH NEW TECHNOLOGY CO., LTD. Saurabh Sharma, Sr General Manager & Executive Director, Hero Motors Thai Ltd. Zou Xiang, Business Office Director, Baowu Jiefuyi Special Steel Co., Ltd HaiBin Jia, Deputy Marketing Director, Beijing Jianlong Heavy Industry Group Co., Ltd. The panelists engaged in in-depth exchanges, drawing from their own business practices, focusing on the core topic of deep development in the Southeast Asian automotive industry. They focused on enterprises' current business layouts, operating status, and development trends in the Southeast Asian automotive market, and deeply analyzed core pain points and challenges such as supply chain adaptation, stable supply, and logistics support in the process of going global. At the same time, they shared detailed experiences regarding common challenges faced by enterprises going global, including localization certification, compliance system adaptation in and outside China, and alignment of policy standards. They also discussed core paths for enterprises to anticipate market changes, precisely allocate industrial resources, and quickly adapt to regional market rules and industry demands, focusing on industry trends. Furthermore, focusing on supply-demand coordinated development, they elaborated on their expectations for future cooperation models, collaboration mechanisms, and partnership needs with Chinese material suppliers. As buyers, they also clarified the types and directions of high-quality Southeast Asian clients they plan to prioritize for connection and cooperation, providing practical ideas and references for precise supply-demand matching and deep cultivation of the Southeast Asian automotive market for Chinese enterprises going global. Day 2: June 17 Keynote Speech: Analysis and Outlook of the Supply Chain in the Southeast Asian New Energy Market Speaker: Jena Wang, New Energy Consulting Project Manager, SMM Information & Technology Co., Ltd. She stated that driven by the rapid growth of the Southeast Asian NEV market, several automakers are accelerating their localization strategies. Battery demand in each country will also increase rapidly, with the region's total battery demand expected to grow by about ten times from 2025 to 2030, reaching approximately 201 GWh. However, it is worth noting that currently, Southeast Asia faces issues with low localization rates, significant structural gaps, and heavy import dependence for cathode materials and motor components. In Southeast Asia, the supply of local cathode materials and key motor components cannot meet demand, and the low localization rate and large capacity gaps have become key bottlenecks restricting the development of the NEV industry chain in the region. Data indicates that China's global production share of key new energy raw materials—such as batteries, cathode materials, lithium chemicals, and rare earth permanent magnets—generally exceeds 70%, with its capacity ranking first worldwide, demonstrating a significant advantage. In addition, she introduced the capacity distribution and industrialisation progress of key materials in the new energy markets of core Southeast Asian countries. Vietnam: Local automaker VinFast is boosting rapid development of the entire vehicle and upstream/downstream supporting industry chain. Thailand: As a core hub for automotive manufacturing and export in Southeast Asia, it boasts a relatively complete supporting system for motor and electric drive-related industries. Malaysia: It possesses a mature automotive industry foundation, but its local supporting capability for the three electric systems is insufficient; local policies focus on supporting vehicle assembly and regional distribution operations. Indonesia: With abundant nickel resources, it holds a pronounced competitive edge in the battery raw material industry. Overall, SMM believes that the capacity for core new energy components in Southeast Asia is relatively small. National policies are promoting localisation and industrial upgrading, leaving significant room for supply chain development. Leadership Panel: Supply Chain Security and Opportunities in Southeast Asia Moderator: Peter Klöpfer, Senior Manager Automotive Business Unit, RUTRONIK Electronics Worldwide Panelists: Akshay Prasad, Principal, Arthur D. Little SEA Alex Zhan, Head, ZF LIFETEC Thailand Asst.Prof.Uthane Supatti Ph.D., Head of the Power Electronics Applications and Energy Management (PEEM) Research Unit, Faculty of Engineering at Sriracha, Kasetsart University, Thailand Vice President, Electric Vehicle Association of Thailand (EVAT) The panelists discussed about core themes of the Southeast Asian automotive supply chain. First, they addressed the delivery timeline crisis caused by sudden supply shortages, the crisis of lacking transparency in the industry chain, the crisis of industry-wide collaboration barriers, and the crisis of trust failure between upstream and downstream players. They jointly explored systematic resolution strategies and elaborated on their respective countermeasures. Building on this, the on-site guests further discussed the Japanese industry chain and China’s domestic supply chain, analyzing the development opportunities, long-term prospects, and practical implementation logic of two-way opening, healthy competition and cooperation, and deep integration between the two. Leadership Panel: Capacity Coopetition and Customer Breakthrough: Winning the Southeast Asian Supply Chain Battle Moderator: Wacharapisuth Thannapong, Researcher, BCG (Bio-Circular-Green Economy Policy) Research Team, Thailand Development Research Institute (TDRI) Panelists: MARK BRIAN PIRIE, Senior Vice President Purchasing & Supplier Management Asia Pacific, Executive Board Member, Schaeffler Frank Yu, General Manager of the Automotive Rubber & Metal Components Business Unit and Thailand Branch, Shanghai Baolong Automotive Corporation The panelists assessed the overheating of three-electric system (battery, motor, electronic control) capacity in Southeast Asia. They noted that overcapacity in three-electric systems is a global trend. The capacity now deployed in Southeast Asia and Thailand already exceeds confirmed demand, intensifying market uncertainty and heightening investment concerns. Risks are structurally differentiated: Tier-1 suppliers are more conservative and risk-averse compared to China’s domestic vehicle makers that are rapidly going global. There is localized overcapacity in basic e-drive parts and low-difficulty electronic components, while supply bottlenecks persist for key items such as high-performance automotive-grade semiconductors, advanced materials, and electrical steel. This is also a core motivation for Chinese suppliers setting up in Southeast Asia. Moreover, Southeast Asia’s geographical advantages are prominent, and mine development in Australia is progressing rapidly. Many mines are set to commence production by Q3 next year. The core contradiction in the industry is not simply overall surplus, but a mismatch between the regional allocation of capacity, the technologies adopted, and actual market demand. Additionally, the guests noted that the core challenges in Southeast Asia and Thailand revolve around three major issues: regional adaptation, supply chain gaps, and industrial competition and collaboration. Enterprises must independently weigh risks and expansion scales based on their own supply chain conditions to find a development balance suited to their needs. Meanwhile, to adapt to the unique environment of Southeast Asia—characterized by high temperatures, high humidity, floods, complex road conditions, and underdeveloped charging infrastructure—the EV technologies originally designed for the Chinese and European markets must undergo localized R&D and verification. This process ensures the reliability of batteries, electronic controls, and lubrication systems, as well as overall vehicle durability. It is recommended that Tier 1 suppliers and upstream partners proactively collaborate in depth with OEM design teams. Even for domestically mature production car models going global in Southeast Asia, it is essential to iterate and optimize products by leveraging local expansion opportunities while drawing on the cost, process, and quality control expertise gained from large-scale domestic production. Leadership Panel: Techno-Economic Analysis and Strategic Pathways for Battery Material Localization in Southeast Asias Moderator: Jay Yu, Senior director, SMM Information & Technology Co., Ltd. Panelists: Brian, Sales Director for the Electrolyte Division in Japan, South Korea, and Southeast Asia, TINCI Materials Max Miao, Director, SEVB Thailand Feng Hao, Southeast Asia Marketing Director, Hefei Guoxuan High-Tech Power Energy Co., Ltd. The panelists noted that amid the restructuring of global manufacturing, Southeast Asia’s lithium battery industry faces both challenges and opportunities. Enterprises are following downstream OEM clients in going global, establishing nearby supply systems centered on customer needs. Three key operational aspects require consideration. First, at the policy level, Southeast Asia’s lithium battery industry must supply both the local market and target exports to Europe and the U.S. Regional policy changes have far-reaching impacts, requiring enterprises to conduct ongoing in-depth analysis and implement corresponding response strategies. Second, in terms of human and cultural factors, local traditions and family values are distinct, necessitating flexible management that fully respects local customs, cares for local employees, and stabilizes production teams. Third, regarding the industry chain, the region’s upstream lithium battery materials are notably underdeveloped. Key raw materials such as high-purity solvents, lithium chemicals, and functional additives currently rely heavily on imports from China, Japan, and South Korea. The establishment and improvement of local upstream and downstream supply capabilities urgently need to be addressed, making this a key focus for future enterprise deployment. In addition, they also mentioned that in H2 this year, NEV-related subsidies in Southeast Asia may be gradually phased out, and Thailand's EV 4.0 policy and the year-end tax rebate policy will also undergo adjustments. Drawing on China's NEV development experience, local automakers will gradually break free from reliance on policy subsidies and instead compete in the market by leveraging product strength and market-based pricing. This year, Thailand's NEV sales are conservatively estimated to reach 120,000 units, with a potential to hit 160,000 units. Compared with Japanese car models, Chinese NEV models have ample room for price adjustment, offering a clear advantage. Currently, battery enterprises are actively assisting automakers in expanding markets and securing more orders, while also suggesting that automakers moderately raise vehicle selling prices. The industry generally believes that automakers will most likely offset the operational pressure from subsidy reductions through price adjustments in the future. Procurement Matchmaking Meeting >Click to view more highlights from the event Check-in & Networking This is the end of the 2026 SMM (3rd) ASEAN Automotive Supply Chain Conference . Thank you for the support of all industry peers. See you next year!

RJ Scaringe, CEO of US electric vehicle maker Rivian, recently stated that the company is on track to launch a supervised autonomous driving system similar to Tesla's FSD later this year. Scaringe said Rivian will release an advanced driver-assistance system (ADAS), which is expected to enable point-to-point supervised driving for the company's second-generation models and the new R2.

According to Ningbo Customs, exports of the city's "New Three" products — electric vehicles, lithium-ion batteries and photovoltaic products — reached RMB 28.51 billion in the first five months of 2026, up 138.4% year-on-year. Among them, lithium-ion battery exports totaled RMB 5.95 billion, up 57.9% from a year earlier.

In mid-June 2026, the CAAM and the China Power Battery Industry Innovation Alliance successively released relevant data on the automobile and power battery markets for May 2026. The CAAM stated that in May, auto production and sales rose MoM but edged down YoY. Affected by multiple factors including policy adjustments, changes in market structure, and a macro environment under pressure, the Chinese market continued to show a double-digit decline YoY; meanwhile, exports were strong and sustained rapid growth. .......SMM has compiled the relevant data on the automobile and power battery markets for May 2026, for readers’ reference. Automobile CAAM: May Auto Production and Sales Reached 2.616 Million and 2.629 Million Units, Both Up MoM In May, auto production and sales reached 2.616 million and 2.629 million units, up 1.6% and 4.1% MoM respectively , and down 1.2% and 2.1% YoY respectively. From January to May, auto production and sales totaled 12.235 million and 12.207 million units, down 4.6% and 4.2% YoY respectively, with the declines narrowing further compared with the first four months. CAAM: May NEV Production and Sales Rose 22.4% and 14.4% YoY Respectively; NEV Sales Accounted for 47.5% of Total New Vehicle Sales In May, NEV production and sales reached 1.554 million and 1.496 million units, up 22.4% and 14.4% YoY respectively . NEV sales accounted for 56.9% of total new vehicle sales. From January to May, NEV production and sales reached 5.841 million and 5.802 million units, up 2.5% and 3.5% YoY respectively, and NEV sales accounted for 47.5% of total new vehicle sales. CAAM: NEV Exports More Than Doubled in May and January-May In May, NEV exports reached 446,000 units, up 3.8% MoM and 110% YoY. Of these, passenger NEV exports stood at 435,000 units, up 3.4% MoM and 110% YoY; commercial NEV exports reached 12,000 units, up 21% MoM and 48.1% YoY. From January to May, NEV exports totaled 1.833 million units, up 110% YoY . Of these, passenger NEV exports were 1.792 million units, up 120% YoY; commercial NEV exports were 41,000 units, up 0.6% YoY. The CAAM commented that in May, auto production and sales rose MoM but edged down YoY. Affected by multiple factors such as policy adjustments, market structure changes, and a macro environment under pressure, the Chinese market continued to see a double-digit decline YoY; exports developed robustly, sustaining a rapid growth trajectory. By car model, passenger vehicle sales edged down YoY, commercial vehicle sales maintained growth, and the NEV market stabilized and rebounded. Since the beginning of this year, the auto market has exhibited a pronounced characteristic of "domestic demand under pressure, foreign trade strong." The industry's operations have faced multiple challenges, including insufficient domestic demand, high costs, and external shocks. On the end-user side, policies and market expectations should be stabilized, industry governance deepened, restrictive measures introduced cautiously, and the consumption baseline solidified; on the foreign trade side, it is necessary to deepen international development, effectively address various risks and challenges, and strengthen the stabilizing support role of the international cycle. Meanwhile, the CPCA also released data on the passenger vehicle market for May. From May 1st to 31st, retail sales of passenger vehicles nationwide reached 1.51 million units, down 22.1% YoY, but up 9.2% MoM; cumulative retail sales since the start of the year reached 7.099 million units, down 19.5% YoY. In the NEV segment, May NEV retail sales fell 7% YoY, with domestic brands declining 10%, mainstream joint ventures growing 51%, and luxury brands growing 8%. Domestic retail sales of domestic economy EVs were significantly impacted by the sharp drop in subsidies. Due to strong subsidies for NEV commercial vehicles, the low and mid-end MPV segment experienced a relatively large decline. In terms of NEV exports, passenger NEV exports in May reached 424,000 units , up 112.6% YoY and up 4.4% MoM. These accounted for 54.1% of total passenger vehicle exports, an increase of 9.5 percentage points compared to the same period last year. Among them, BEVs accounted for 59.3% of NEV exports (compared to 66.1% same period last year), with the core focal A00+A0 class BEVs accounting for 53.8% of BEV exports (compared to 50.7% same period last year). Alongside the emerging scale advantages of Chinese NEVs and the demand for market expansion, an increasing number of Chinese-made NEV branded products are going overseas, with their recognition outside China continuously improving. Among NEV exports, narrow-body plug-in hybrid vehicles accounted for 36.2% (compared to 31.9% same period last year), and extended-range EVs accounted for 4.4% (compared to 2.0% same period last year). Although external interference from certain countries has occurred recently, the export of domestic narrow-body plug-in hybrids to developing countries has grown rapidly and shows bright prospects. The CPCA stated that the domestic passenger vehicle market in May 2026 presented an operational dynamic of overall volume under pressure, MoM strengthening, and extreme structural differentiation, without achieving a substantive recovery overall. The slight recovery in the auto market in May was mainly attributed to the evident effectiveness of the industry's "anti-involution" efforts, stabilizing automaker sales promotions and weakening the consumer expectation of price cuts. This, combined with the warmth-boosting effect of the Beijing Auto Show, released some pent-up car purchase demand, forming a phased terminal rebound. It said that the core features of the auto market in May were the collapse of internal combustion engine vehicle domestic sales, the strong dominance of new energy vehicles, and the counter-trend growth of exports. The main cause of the domestic auto market decline was the sharp contraction in fuel vehicle sales under the impact of high oil prices. In May, fuel vehicles accounted for a 37.1% share, but their YoY decline contributed 82% of the total decline in passenger vehicles, dragging down the overall market trend. Factors such as high oil prices and consumption transformation accelerated the "fuel-to-electric substitution" process. This month, the retail penetration rate of new energy vehicles continued to exceed 60%, reaching a historical high of 62.9%. The electrification transformation of joint venture brands accelerated. In May, sales of new energy JV car models grew 51% YoY, while fuel vehicle sales fell 41% YoY. Exports continued to be the industry's core growth engine. In May, the share of new energy in exports hit a new high of 54%, but fuel vehicle exports also showed strong performance with 46% growth, forming an exceptionally strong performance of China's all-round export growth. Characteristics of the passenger vehicle market in May 2026: 1. Overall volume was under pressure, with major structural divergence, and "fuel cold, new energy hot" became the biggest focus. The core reason for the decline in domestic retail was the "fuel collapse," which drove the new energy retail penetration rate to break through 60% to 62.9% (a new high), with the pace of electrification substitution exceeding expectations. 2. The electrification transformation of joint venture brands accelerated. In May, domestic retail sales of mainstream JV new energy vehicles grew 51% YoY, while the overall growth rate of domestic new energy vehicles slowed by 10%. JV brands such as Buick (with new energy accounting for 45%) began to show initial results in their shift to new energy. 3. Exports showed explosive growth, with new energy accounting for 54% (a new high) in exports, driven by both new energy and domestic brands, and going global becoming the core growth engine. 4. Clear characteristics of passive destocking and a relatively rapid decline in channel inventories. Listed dealers suffered overall losses, and dealer survival pressure continued to increase. 5. Independent brands made notable breakthroughs in the high-end segment, with retail sales of passenger vehicles in the 200,000-300,000 yuan, 300,000-400,000 yuan, and above 400,000 yuan price segments all exceeding 50%. 6. Micro EVs were under pressure, A-class cars shrank, entry-level consumption badly needed support, and the launch of economy EV standards was eagerly anticipated. Power Battery Update In April, power and ESS battery sales grew 47.4% YoY. January-May cumulative sales grew 48.5% YoY. In May, China's power and ESS battery sales reached 182.2 GWh, up 11.0% MoM and 47.4% YoY . Among them, power battery sales were 127.0 GWh, accounting for 69.7% of total sales, up 16.6% MoM and 45.2% YoY; ESS battery sales were 55.2 GWh, accounting for 30.3% of total sales, down 0.1% MoM but up 52.7% YoY. From January to May, China's cumulative power and ESS battery sales reached 783.4 GWh, up 48.5% YoY . Of this, cumulative power battery sales reached 527.9 GWh, accounting for 67.4% of total sales, up 34.9% YoY; cumulative ESS battery sales were 255.5 GWh, accounting for 32.6% of total sales, up 87.7% YoY. May China power battery installations up 25.9% YoY, LFP share at 81.2% In May, China's power battery installations reached 71.9 GWh, up 15.2% MoM and 25.9% YoY . Ternary battery installations were 13.4 GWh, accounting for 18.6% of total installations, up 15.9% MoM and 27.3% YoY; LFP battery installations were 58.4 GWh, accounting for 81.2% of total installations, up 14.9% MoM and 25.4% YoY. From January to May, cumulative power battery installations in China reached 259.1 GWh, up 7.3% YoY . Ternary battery cumulative installations were 50.8 GWh, accounting for 19.6% of total installations, up 13.3% YoY; LFP battery cumulative installations were 208.2 GWh, accounting for 80.4% of total installations, up 6.0% YoY. May: Leap Motor dominated among NEV startups; BYD's export growth impressive In early June, May domestic NEV sales/delivery figures were released. BYD continued to lead the global NEV market with sales exceeding 380,000 units. Among domestic NEV startups, Leap Motor's outstanding performance once again ignited market enthusiasm, setting a new monthly delivery record with over 80,000 units! Details are as follows: BYD: According to its announcement, BYD sold a total of 383,453 vehicles in May, including 376,990 passenger vehicles. By brand: Dynasty/Ocean series sold 330,215 units; Fang Cheng Bao sold 30,186 units; Denza sold 16,303 units; Yangwang sold 286 units. From January to May, BYD's cumulative sales reached 1,405,039 units. The company's cumulative NEV sales surpassed 16.5 million units. BYD's sales recovery was mainly supported by exports. Data shows that in May, BYD's overseas sales reached 161,000 units, up 80.4% YoY. NEV Startups: In May, Leap Motor delivered 81,569 vehicles across its entire lineup, up 81% YoY, setting a new historical high for monthly deliveries. The company's NEV sales grew steadily, maintaining its lead. Leap Motor also performed excellently in Italy's pure electric vehicle market, with monthly registrations reaching 4,765 units, up 1,278% YoY, and its pure electric market share reaching a record high of 34.5%. NIO delivered a total of 37,705 new vehicles in May, up 62.3% YoY and 28.4% MoM. Specifically, NIO brand deliveries reached 20,013 units, up 50.8% YoY; Ledao brand delivered 12,029 units, up 91.5% YoY and 124.8% MoM; and Firefly brand delivered 5,663 units, up 53.9% YoY and 13.7% MoM. In the first five months of this year, NIO delivered a total of 150,526 new vehicles, representing a 68.7% YoY increase. To date, NIO's cumulative deliveries have reached 1,148,118 units. Li Auto ranked third among NEV startups with monthly deliveries of 33,350 units this time. As of May 31, 2026, Li Auto's cumulative deliveries reached 1,702,792 units. Li Xiang, Chairman and CEO of Li Auto, said that since Q1 this year, Li Auto's deliveries have entered a growth trajectory, reclaiming the top spot among Chinese brands in the NEV market priced above 200,000 yuan. As of May 31, 2026, Li Auto had 498 retail centers across China, covering 160 cities; and 543 after-sales repair centers and authorized service centers, covering 222 cities. Li Auto has put into use 4,088 Li Auto supercharging stations nationwide, equipped with 22,563 charging piles. XPeng Motors delivered 32,158 new vehicles in May. On May 20, the new technology flagship XPeng GX was officially launched and began deliveries. Within 12 hours of launch, firm orders reached 24,863 units, with the Ultra flagship edition accounting for over 80% of orders. Showroom traffic and test drive volume hit a record high for the same period of any new car launch, making it one of the most popular products among users in the high-end luxury car market and a key step in XPeng Group's brand elevation. In the global market, XPeng maintained strong momentum. In April, overseas deliveries of the P7+ commenced, and monthly overseas sales exceeded 6,000 units for the first time. As of the end of Q1, XPeng had entered over 60 countries and regions worldwide, with 393 overseas sales outlets. Starting from Q2, international business revenue contribution is expected to exceed 20%. In H2 this year, XPeng plans to deliver four global car models, aiming to achieve sustained monthly overseas sales of over 10,000 units in Q4 and more than double full-year overseas sales. Xiaomi Auto's monthly deliveries continued to exceed 30,000 units in May, and its cumulative deliveries surpassed 139,000 units from January to May. On June 13, the latest news, Lei Jun, Chairman of Xiaomi Group, posted on Weibo that Xiaomi Auto attaches great importance to testing, with massive investment and scale. Currently, the testing team consists of over 800 members, of which over 45% are experts with more than 10 years of experience. This team has conducted tests in more than 300 cities and completed over 35 million kilometers of cumulative testing. Xiaomi Auto has 126 laboratories across four cities—Beijing, Nanjing, Shanghai, and Wuhan—covering a total area of over 65,600 m². It has also rented two full-vehicle comprehensive testing grounds in Yancheng, Jiangsu, and Guangde, Anhui. There is a dedicated team of around 500 personnel for extreme environment testing. This team is split into summer testing and winter testing units and is mainly responsible for four major extreme environment tests: Heihe (extreme cold), Turpan (extreme heat), the Kunlun Mountains (high altitude), and Hainan (high humidity). Overall, Cui Dongshu, Secretary General of the CPCA, noted that the key features of the auto market in May were “sluggish domestic sales of internal combustion engine vehicles, strong dominance of new energy vehicles, and YoY growth in exports amid headwinds.” Based on the current industry situation, the CPCA adjusted market expectations, revising the decline in full-year domestic passenger vehicle retail sales to 11%, from the 1% decline forecasted at the start of the year. Cui Dongshu stated that the auto market will gradually stabilize and improve in Q3, return to a growth trajectory in Q4, and the full-year decline in domestic passenger vehicle retail sales is expected to narrow to 11%, with the market still holding recovery potential. If the global situation stabilizes, commodity and oil prices return to reasonable ranges, transportation costs subsequently pull back, domestic consumer confidence in car purchases will gradually recover, and the auto retail market will also see a sustained recovery. Looking ahead to June, the CPCA projects that China’s domestic passenger vehicle market in June 2026 will present a weak recovery pattern of “MoM recovery, YoY pressure,” with the market slowly mending based on its own fundamentals. As a month-end period, June sees automakers pushing for their semi-annual sales targets, with OEMs and end-user stores increasing order replenishment efforts, a key positive factor supporting MoM recovery. There will be 21 working days this month, forming a YoY advantage of one extra working day compared to the base of 20 working days in June last year, providing a positive boost to overall production and sales. However, based on past experience, during months when the World Cup is held, the auto market’s sequential performance tends to be weaker. It fell 7% MoM in June 2018, and by 4% MoM in both June 2010 and June 2014. The negative impacts from the previous reduction in passenger vehicle trade-in subsidies and the cooling of the industry price war have been largely absorbed, marking an end to negative policy factors and providing a foundation for market recovery. End-user pace, the auto market showed a “front-loaded and then stabilizing” trend. Combined with the month-end semi-annual sales push effect, the overall monthly trajectory was relatively steady. Notably, the Dragon Boat Festival holiday fell on June 19 this year, significantly later than its May 31 date last year. The concentrated disruption from holiday foot traffic and diverted consumer spending affected the market this month, slightly suppressing mid-month car ordering enthusiasm and partially offsetting some of the benefits from the semi-annual month-end sales push and extra working days. This emerged as a key seasonal factor influencing the monthly trend. It is worth noting that geopolitical conflicts have driven international oil prices to fluctuate at highs, causing the cost of using fuel vehicles in China to keep climbing. This not only directly suppresses the willingness to purchase fuel vehicles but also adds to residents' expenditure pressure, further weakening overall car purchase consumption power and becoming a core factor constraining significant YoY growth in the auto market. At the same time, however, high oil prices have also been continuously accelerating the transition to vehicle electrification. Coupled with the momentum of pushing for half-year targets at the end of June, automakers have introduced compliant concession policies such as interest subsidies and car purchase gift packages for new energy models. Together with the concentrated delivery of multiple new NEV models, the industry's product portfolio has been continuously improved, and strength on the supply side has increased substantially. Currently, industry inventory is being gradually and orderly digested, the vicious price war has largely subsided, and terminals are clearing inventory through mild sales promotions, making market competition trend toward a benign state. Driven by multiple favorable factors, the passenger NEV penetration rate is expected to remain firmly above 60%, with the electrification process continuing to accelerate, becoming the core pillar supporting the resilience of the auto market. Against the backdrop of sluggish domestic demand, automobile exports have become the core pillar of industry growth, creating a pattern of "weak domestic demand, leading overseas demand." Chinese automakers continue to deepen their presence in overseas markets, focusing on diverse markets such as Latin America and Europe, effectively offsetting the impact of declining demand in the Middle East, with export sales maintaining high growth. Relying on the mature domestic new energy industry chain and high-quality products, automobile exports continue to move upscale and upgrade across all categories, effectively offsetting the growth pressure in the Chinese market and supporting the overall stable operation of the industry. Overall, the Passenger Vehicle Association estimates that the auto market's recovery momentum in June will be limited, structural potential remains large, and the overall weak recovery trend will persist.

Recently, the continuously increasing curb weight of NEVs has become a hot topic in the industry, sparking heated discussions on whether NEVs should pay "road maintenance fees." According to multiple industry insiders, relevant authorities are already studying related policies. In addition to the allocation of road maintenance fees, this will involve more tax and fee systems related to the automotive industry, in order to make the system "keep pace with the times" and adapt to the new industry landscape. This means that the tax exemption benefits for NEVs may gradually phase out, shifting from "industry support" to "cost sharing." Wang Ning, Director of the Center for Automotive Industry and Technology Strategy at the School of Automotive and Energy, Tongji University, said in an interview, "From a long-term perspective, 'equal rights for gasoline and electric vehicles' is the future trend." Cui Dongshu, Secretary General of the CPCA, who was the first to propose the special policy of converting road maintenance fees into taxes, also explicitly stated that the traditional road tax and fee system, which is tied to fuel consumption, has shown significant structural imbalance, making tax system iteration and upgrading imperative.