The United Auto Workers (UAW) announced on October 29 that workers at the Volkswagen plant in Chattanooga, Tennessee, have voted to approve a strike. Prior to this, the UAW had been engaged in over a year of contract negotiations with Volkswagen, but the latest contract proposal from Volkswagen still failed to satisfy the workers. However, the union stated that although members have voted to approve a strike, they have not yet determined the start date for the strike.

Recently, Honda Motor Company has begun to cut back or suspend production at some of its North American factories due to a shortage of key chips caused by the Nexperia crisis. According to content posted by a union official from a Honda factory supplier on social media, Honda's plant in Canada, which produces compact Civic sedans and CR-V SUVs, has halved its output. Additionally, according to a report from Nikkei, Honda Motor suspended car production at its Mexican factory on October 28 local time, and it is not yet clear when production will resume.

On October 29, the United States and South Korea reached an agreement on the specific terms of a trade deal. South Korea will invest $350 billion in the U.S. in exchange for the U.S. maintaining a comprehensive tariff rate of 15% on South Korea, including reducing tariffs on cars and auto parts to 15%; previously, the U.S. announced a 25% tariff on imported cars. In the semiconductor sector, South Korea stated that the agreed-upon tariff levels would not place South Korea at a disadvantage.

On October 30, BYD released its third-quarter report for 2025, showing third-quarter revenue of 194.985 billion yuan, a year-on-year decrease of 3.05%; net profit was 7.823 billion yuan, a year-on-year decrease of 32.60%. For the first three quarters, revenue was 566.266 billion yuan, a year-on-year increase of 12.75%; net profit was 23.333 billion yuan, a year-on-year decrease of 7.55%.

General Motors confirmed on October 29 that it has notified nearly 5,500 employees at three of its plants to take unpaid leave, including 3,400 workers at the Detroit Factory Zero plant, which had previously implemented unpaid leave this summer. This plant produces electric Chevrolet Silverado, GMC Sierra, and Hummer electric vehicles. GM will assess the production needs and plans to recall about 1,200 workers when the plant resumes single-shift operations in January next year, while the remaining 2,200 will be on indefinite unpaid leave. GM also laid off 1,400 workers at the Ultium battery plant in Warren, Ohio, and 710 workers in Spring Hill, Tennessee. A company spokesperson stated that about 850 workers at the Ohio plant are expected to return in May next year, while 550 are considering indefinite layoffs.

According to the Tianyancha App, recently, Huawang Automotive Technology (Guangzhou) Co., Ltd. underwent a business change, adding GAC Aion New Energy Automobile Co., Ltd. as a shareholder. The registered capital increased from 1.5 billion RMB to 2.1 billion RMB, a 40% increase, and several senior executives were changed. The company was established in March of this year, with He Xianqing as the legal representative. Its business scope includes automobile sales, manufacturing of automotive parts and accessories, and wholesale of automotive spare parts. It is now jointly held by GAC Group (601238) and the newly added shareholder.

Tesla is advancing the mass production work for the next-generation Roadster sports car. The prototype of this electric supercar was first unveiled in 2017, with production originally slated to begin in 2020, but it has faced multiple delays. Recently, Tesla's official website posted a job listing for "Roadster Manufacturing Engineers," indicating that it may have begun to establish a manufacturing system for the Roadster's mass production. The related work is still in the early stages of manufacturing development, and the mass production version of the Roadster is not expected to roll off the production line until at least the end of 2026, with industry analysts suggesting that a more realistic production timeline may be pushed to 2027. The job listing for manufacturing engineers specifies the work location as Fremont, California, which may indicate that Tesla intends to start Roadster production at its Fremont factory in California.

Toyota Motor will start producing hybrid cars in Vietnam as early as 2027 and will increase local... To meet the growing demand for hybrid vehicles in the Vietnamese market, Toyota's production base will be located at a factory in Phu Tho Province in northern Vietnam, which is adjacent to the capital, Hanoi.

The National Development and Reform Commission and other departments have released the "Three-Year Doubling Action Plan for Electric Vehicle Charging Facility Service Capacity (2025-2027)", aiming to establish 28 million charging facilities by the end of 2027 to meet the charging needs of 80 million electric vehicles. The plan focuses on long-standing issues in the industry, encompassing everything from high-power charging technology to balanced layout between urban and rural areas, and comprehensively initiates actions for industrial upgrading. The plan emphasizes the need for a balanced network layout, constructing a three-dimensional network that ensures "no blind spots in cities and guarantees in rural areas." Additionally, the plan particularly highlights the large-scale application of high-power charging technology, which will drive the restructuring of the industry chain.

In the first three quarters of 2025, Guoxuan High-Tech achieved operating revenue of 29.508 billion yuan, a year-on-year increase of 17.21%, and a net profit attributable to the parent company of 2.533 billion yuan, a year-on-year increase of 514.35%. The growth in performance was mainly due to the enhancement of market share in electric vehicle batteries, growth in the energy storage business, and optimization of product structure. The company also benefited partially from non-recurring gains and losses. The energy storage market remains highly active, with lithium battery shipments reaching 430 GWh in the first three quarters. Guoxuan High-Tech has increased its market share, strengthened its technical capabilities, deepened cooperation with the Volkswagen Group, and accelerated its global capacity layout.

CATL released its Q3 2025 financial report, showing a slowdown in revenue growth, but a net profit growth exceeding 40%. The company is shifting from power batteries to the energy storage sector and moving from products to ecosystems, promoting battery swapping and laying out an integrated network for solar energy storage and charging. CATL's stock price surged by 49.33%, with a total market value reaching 1.76 trillion yuan. The company is utilizing financial instruments globally to gain profits from exchange rate fluctuations, with external investment income growing nearly 70% year-on-year. CATL is fully betting on energy storage and the electrification of commercial vehicles as new growth points.

According to the latest technology roadmap released by the China Society of Automotive Engineers, all-solid-state batteries are expected to achieve small-scale application by 2030 and large-scale global promotion by 2035. Sunwoda recently launched a new polymer solid-state battery product, "Xin·Bixiao," with an energy density of 400Wh/kg. Company executives pointed out that the mass production timeline for all-solid-state batteries might be later than some overseas companies anticipate, likely beginning small-scale production only after 2030. They will coexist with liquid lithium batteries for a long time, and commercialization should be approached rationally.

Cui Dongshu, Secretary General of the China Passenger Car Association, stated in an article that as of the end of September 2025, the national passenger car industry inventory stood at 3.28 million units, an increase of 120,000 units from the previous month and an increase of 260,000 units from September 2024, showing the characteristic of stockpiling during the peak season. In April 2025, industry inventory reached 3.5 million units, a new high in nearly two years. The car market saw relatively high retail sales driven by trade-ins, but manufacturers were relatively cautious in production. From May to August, car companies were more rational in controlling production, reducing inventory pressure on dealers, resulting in continuous inventory reduction from May to August, with inventory rebounding in September 2025.

Yinglian Co., Ltd. (002846) recently disclosed its third-quarter report for 2025, showing that the company achieved an operating income of 1.648 billion yuan in the first three quarters, an increase of 10.68% year-on-year. The net profit attributable to the parent company was 35.378 million yuan, a substantial increase of 1572.67% year-on-year, successfully turning losses into profits. The net cash flow from operating activities was 235 million yuan, a significant surge of 5112% year-on-year.

Under the leadership of BYD and MG, Chinese automakers continue to make progress in the European market. In September, the sales of Chinese car brands in Europe surged by 149%, reaching 90,571 units, with a record market share of 7.4%, compared to only 3.3% a year ago.

According to the Qichacha app, SAIC Forward Automotive Technology (Shanghai) Co., Ltd. was recently established with a registered capital of 20 million yuan. Its business scope includes the research and development of auto parts, sales of intelligent power distribution and control equipment, sales of charging piles, wholesale of computer software, hardware, and auxiliary equipment, among others. Qichacha's equity penetration shows that the company is wholly owned by SAIC Group.

On October 23, Nexperia China Co., Ltd. released a bilingual "Letter to Customers," stating that the current management of Nexperia in the Netherlands is spreading information that is inconsistent with the facts, unjustifiably questioning the compliance, quality standards, and technical capabilities of the products, and attempting to confuse and interfere with customers' normal purchasing decisions. The company firmly opposes this and will take all measures to protect its rights legally. Meanwhile, Nexperia China Co., Ltd. promises that all products manufactured and delivered in China comply with Chinese laws and regulations and the requirements of relevant regulatory authorities, fully meet Nexperia's consistent technical standards, production processes, and quality requirements, comply with all contractual agreements with customers, and pass the company's strict quality inspection during the factory inspection stage. Should there be any changes or adjustments regarding product supply, production processes, or technical standards, the company will communicate with customers in advance according to normal procedures. Currently, the production and operations of Nexperia's Chinese entity are progressing in an orderly manner, and the company's board of directors, management, and all employees are making every effort to ensure the stability of the supply chain for our valued customers.

Toyota Motor Corporation has acquired all shares of its affiliated company, Toyota Industries, for approximately 2.2 trillion yen, leading to its delisting. This marks the largest internal consolidation in Toyota's history and signifies a transformation in the governance structure of Japanese companies. Akio Toyoda is attempting to dismantle the cross-shareholding system that has supported the "Toyota Group" for nearly a century and promote industrial transformation. After the acquisition, Toyota Motor will directly control the upstream manufacturing process, enhance supply chain transparency and production efficiency, reduce costs, and decrease external dependence. Akio Toyoda's reform intentions have long been evident, as he reduces the proportion of cross-shareholdings between manufacturers to give them greater operational independence and raises funds to increase investment in the latest technologies and equipment.

Ningde Times released its third-quarter report for 2025, reporting total revenue of 104.2 billion yuan, a year-on-year increase of 12.9%, and a net profit of 18.55 billion yuan, a year-on-year increase of 41.2%. The company is advancing global capacity construction, with significant domestic expansion and remarkable results in overseas layout. The world's first NP3.0 technology and Shenxing Pro battery have been launched, enhancing safety and performance. The sodium-ion battery has passed new national standard certification, accelerating its entry into broader applications. Strategic cooperation has been established with JD Group and others to build a green energy ecosystem. Advocating "born for recycling," the company is leading the sustainable development of the global battery industry.

On October 16, Cangzhou Mingzhu announced that the company's controlling shareholder...Dongsu Groupand its persons acting in concert plan to transfer 167 million shares of the company they hold (accounting for 10.00% of the company's total share capital on the agreement signing date) toGuangzhou Light IndustryAt the same time, the voting rights corresponding to the remaining 160 million shares (accounting for 9.58% of the company's total share capital on the date of the agreement) will be entrusted to Guangzhou Light Industry. If the transfer is completed,Guangzhou Light IndustryWill become the controlling shareholder of the company.Guangzhou State-owned Assets Supervision and Administration CommissionWill become the actual controller of the company. Review: Cangzhou Mingzhu's introduction of Guangzhou State-owned Assets as the controlling shareholder is a typical example of a "state-owned capital takeover" change in control. This move not only can bring funding and resource support to the company but also is expected to leverage the state-owned background to enhance its credibility and market position in the new energy materials field. For the original controlling shareholders, this is a way to "cede control while retaining some benefits" as an exit strategy. In the future, how the new actual controller empowers the company...Cangzhou MingzhuThe business development will be the focus of market attention.