Electrification & Mobility

Tesla Inc. has increased prices for its Cybertruck all-electric pickup truck in the U.S. by up to $5,000 for some trim levels, despite sluggish sales. The Dual-Motor AWD trim now costs $74,990, up 7.1% from $69,990, while the Premium AWD trim rose 6.2% to $84,990 from $79,990. The range-topping Cyberbeast remains unchanged at $99,990. The price hike comes as only 7,133 Cybertrucks were registered in the U.S. through May 2026. Analysts at JP Morgan Chase & Co. noted that Tesla is prioritizing the Cybercab over the Model Y Robotaxi, while investor Ross Gerber expressed skepticism about the Full Self-Driving system's capabilities.

Ford Motor Company is expanding its Bronco lineup with a hybrid version due in 2027 and a Bronco-based pickup toward the end of the decade, while its luxury brand Lincoln will build a Bronco-based off-roader. These moves are part of a larger plan to refresh 80% of Ford's North American portfolio by 2029, which includes a $25,000 hybrid crossover and five vehicles under $40,000, as well as targeting half of its global volume to be hybrid, EV, or extended range by 2030. The strategy follows Ford's $19.5 billion charge and reversal of electric vehicle plans, which included canceling the F-150 Lightning, though it will return as an extended-range option. Ford also plans to add new Mustangs, including a four-door variant, and is banking on its low-cost Universal Electric Vehicle platform for future EV profitability, with the Fathom midsize electric truck due next year. The company faces competition from Stellantis, which is also planning affordable options to regain market share.

Lotus Technology, the Geely-backed electric vehicle group, has finalized its acquisition of Lotus Advance Technologies, also known as Lotus UK, consolidating its UK sportscar production and engineering consultancy into a single entity. The deal was triggered by put options exercised by shareholders Geely International (Hong Kong) and Etika Automotive, who held 51% and 49% stakes respectively. Geely exercised its option in April 2025, and Etika followed in July 2025. Lotus UK, based in Hethel, Norfolk, includes the Hethel plant and Lotus Engineering, which provides consultancy services. CEO Qingfeng Feng said the move unifies the brand and supports the Focus 2030 strategy, with UK operations continuing as the company expands globally. This follows Geely's July export of Lotus-branded EVs to Canada under a new trade arrangement with China.

Asia Green Energy Public Company Limited (AGE) has announced its 2026 total revenue target of 17.5 billion baht, aiming for coal sales of 4 million tons. The company plans to expand its customer base both domestically and internationally, particularly in India, Vietnam, the Philippines, and Cambodia, due to the increasing demand for coal in Southeast Asia. Meanwhile, the company is accelerating its portfolio diversification into the Low Emission Mobility business, targeting revenue of 4.2 billion baht and sales of 4,000 EV and hybrid vehicles, leveraging its network of 10 showrooms as a base for market expansion. For the second quarter of 2026, the company reported revenue of 4.9354 billion baht, up 22.8%, and net profit of 134.4 million baht, up 26.9%. In the first six months, revenue was 8.17 billion baht, up 7.4%, and net profit was 236.8 million baht, up 59.2%.

Honda Motor has revealed it is considering building a new automobile assembly plant in the United States to increase hybrid vehicle production capacity, following a restructuring of its electric vehicle business. A company spokesperson confirmed that no final decision has been made, but sources indicate that Honda plans to decide on the investment within the next few years, aiming to begin operations around 2030, with consideration given to producing hybrid SUVs, which are in high demand in the market. Honda views strengthening its hybrid lineup as a key part of its strategy, with plans to launch 15 new models focused on the North American market by fiscal year 2029. The investment decision also depends on progress in negotiations over the United States-Mexico-Canada Agreement (USMCA), as President Donald Trump has announced a 50% tariff increase on automobiles and parts from Canada starting January 1 next year, which could prompt Honda to reconsider its plans for a new plant.

Denso, a major auto parts manufacturer, announced on August 25 that it has begun offering a battery passport service utilizing blockchain technology, called the "DENSO Digital Product Passport Solution for Battery." Against the backdrop of the European Battery Regulation mandating the introduction of battery passports for electric vehicle batteries, light transport batteries, and industrial batteries with a capacity exceeding 2 kWh from February 18, 2027, the service supports automakers and battery manufacturers in regulatory compliance and ensuring traceability. Based on the data model developed by the European Battery Passport Readiness Consortium, the service generates a passport for each battery product, allowing businesses to collect information from their core systems and suppliers, and users to verify information via QR codes. It also features the ability to control the information viewed according to the user's role, with data reliability ensured by blockchain technology that Denso has been researching and developing since 2017. In June, a joint verification was conducted using actual data from AESC's stationary energy storage system batteries, and third-party certification body TÜV Rheinland Japan confirmed compliance with the European Battery Regulation and practicality.

Aotecar released its 2026 interim report, showing first-half net profit attributable to the parent of 104 million yuan, up 41.3% year on year. Operating revenue was 3.648 billion yuan, down 8.8% year on year. Net profit attributable to the parent after deducting non-recurring items was 94.12 million yuan, up 38.7% year on year. Net operating cash flow was 181 million yuan, down 68.3% year on year. In the second quarter, operating revenue was 1.99 billion yuan, down 4.9% year on year, while net profit attributable to the parent was 62.55 million yuan, up 132.5% year on year. As of the end of the second quarter, total assets stood at 10.968 billion yuan, down 1.3% from the end of the previous year, and net assets attributable to the parent were 6.311 billion yuan, up 10.2% from the end of the previous year. During the reporting period, sales volume of the automotive air-conditioning compressor business fell 9.81% year on year, while sales volume of the energy-storage thermal management business rose 84% year on year. The company implemented cost-reduction and efficiency-improvement measures that have already delivered cost savings of 127 million yuan, launched the construction of a smart manufacturing system, established a new marketing company, secured multiple new project nominations, and promoted the development of overseas business.

Hangke Technology disclosed its 2026 semi-annual report on the evening of August 26. During the reporting period, it achieved operating revenue of 2.153 billion yuan, up 5.44% year on year, but net profit attributable to shareholders of the listed company was 154 million yuan, down 45.28% year on year. The company said the profit decline was mainly affected by non-recurring factors totaling about 135 million yuan from exchange losses and share-based payment expenses, and the fundamentals of its main business had not deteriorated. At the same time, the company disclosed a semi-annual dividend plan, proposing a cash dividend of 0.067 yuan per 10 shares including tax, with cumulative dividends of about 40.45 million yuan. As of the end of the reporting period, the company's contract liabilities reached 3.404 billion yuan, up 7.09% from the end of the previous year, and inventory climbed to 4.323 billion yuan, up 28.43% from the end of the previous year, reflecting a full order backlog. At the business level, the company completed a capital increase to gain control of Hangke Instruments, holding 51% of its equity, establishing a dual-wheel drive pattern of intelligent equipment for the back end of lithium battery production plus precision semiconductor inspection, and landing its second growth curve. In terms of overseas production capacity, the Cheonan base in South Korea has been put into operation and is ramping up capacity, building a three-dimensional production network of five major domestic plants plus overseas factories in South Korea and Japan. Research and development investment was 152 million yuan, with its share of revenue rising to 7.06%, and 22 new invention patents were added, bringing the cumulative total to 487 patents. Industry analysis believes that with expanding global energy storage demand and accelerating domestic substitution of semiconductors, the company's strategy of dual tracks plus globalization plus intelligentization is expected to continue releasing value.

ArcVideo's 2026 interim report shows that in the first half of this year, the company achieved operating revenue of 136 million yuan, up 2.53% year on year. Among this, its in-vehicle smart cockpit business generated revenue of 27.1753 million yuan, an increase of 18.83% year on year. The company said it has established long-term partnerships with dozens of new energy vehicle makers in the intelligent connected vehicle sector, and continues to iterate its products around immersive audio-visual experiences and multi-screen interaction for smart cockpits. In addition to achieving large-scale mass production of its 5D immersive cockpit, the company also disclosed four major advances in its in-vehicle smart cockpit business. These include building an in-vehicle AI agent based on the BlackEye multimodal spatial large model, which was showcased at the 2026 World Artificial Intelligence Conference; making breakthroughs in deeply supporting the overseas expansion strategy of domestic new energy vehicles, having secured designations from multiple automakers' overseas platforms covering a range of globally launched models; accelerating the rollout of in-vehicle viewing scenarios driven by the 2026 World Cup and the availability of CCTV Sports content in cars; and achieving large-scale deployment of its self-developed video super compression technology for safety scenarios such as driving recording, sentry mode, and surround view. ArcVideo believes the smart cockpit industry is in a period of rapid volume growth, with penetration continuing to rise.

Shinry Technologies released its 2026 interim report on August 26, achieving a turnaround to profitability during the reporting period, driven by its core business in high-voltage electronic controls for new energy vehicles. The company reported operating revenue of 1.419 billion yuan, up 33.91 percent year on year. Net profit attributable to the parent company was 23.2796 million yuan, compared with a loss of 65.8851 million yuan in the same period last year. Non-recurring net profit attributable to the parent company was negative 31.0495 million yuan, narrowing by 59.75 percent year on year but still not turning positive. Net cash flow from operating activities was 189 million yuan, surging 486.73 percent year on year. On-board power integrated products were the core, generating revenue of 1.217 billion yuan, accounting for more than 85 percent of total revenue, up 21.08 percent year on year, with gross margin rising 1.44 percentage points to 12.59 percent. On-board DC-DC converter revenue was 172 million yuan, soaring 1,246.33 percent year on year, but gross margin fell to 7.25 percent. Fuel cell related product revenue was 8.5507 million yuan, down 53.70 percent year on year. The continued non-recurring net loss was mainly affected by an inventory write-down provision of 45.3819 million yuan, while investment income of 45.9853 million yuan supported profit but was not sustainable. Looking ahead, the company expects to gain share in the high-end market through its ninth-generation Ruihu platform and partnerships with companies such as XPeng, but it needs to be wary of gross margin pressure and accounts receivable risks.

Longsheng Technology announced that it plans to issue convertible corporate bonds to unspecified investors, raising total proceeds of no more than 713 million yuan. After deducting issuance expenses, the funds will be used for a project to expand production of core components for new energy vehicle electric drive systems, a project to build precision satellite components, and to supplement working capital.

Huasu Technology released its 2026 interim report on August 26. Relying on a dual-engine strategy of computing infrastructure and energy storage, the company achieved operating revenue of 128 million yuan in the reporting period, up 13.20 percent year on year. Net profit attributable to the parent company was 15.2353 million yuan, up 28.65 percent, while non-GAAP net profit was 8.8359 million yuan, up 6.37 percent. Net cash flow from operating activities was 6.0204 million yuan, a sharp decline of 65.30 percent from 17.3504 million yuan in the same period last year, mainly due to increased spending on upstream raw material stocking and procurement for new businesses. By business segment, backup battery BMS revenue reached 98.7892 million yuan, accounting for nearly 80 percent of total revenue, with gross margin down slightly by 3.88 percentage points to 31.47 percent. Energy storage PCS revenue surged 74.78 percent year on year to 15.4376 million yuan, becoming an important engine driving revenue growth. Overseas revenue rose 113.99 percent year on year to 14.3914 million yuan. In addition, a reversal of credit impairment losses of 13.7986 million yuan made a significant positive contribution to total profit. Looking ahead, the company's integrated solution of BMS plus PCS plus EMS plus liquid cooling is expected to enhance market competitiveness, but attention should be paid to gross margin pressure and working capital strain.

Leadshine Intelligent released its 2026 semi-annual report. In the first half, it achieved revenue of 1.247 billion yuan, up 39.92 percent year on year, and net profit attributable to the parent of 194 million yuan, up 62.79 percent year on year. Second-quarter revenue and net profit rose 44.1 percent and 92.5 percent respectively from a year earlier. The company's operating revenue has accelerated for six consecutive quarters, with the growth rate climbing from 2.4 percent in the first quarter of 2025 to 44.1 percent in the second quarter of 2026. Servo system revenue in the first half was 661 million yuan, up 54.82 percent year on year, and its domestic servo market share remained firmly in the top two. The humanoid robot business has become a second growth curve. Orders in hand for frameless torque motors exceeded 1 million units, and the company is building an automated production line with annual capacity of 3 million units. It has achieved in-house mass production of core components including planetary joint modules, harmonic joint modules, and multi-degree-of-freedom dexterous hands, and has secured batch orders from mainstream domestic robot manufacturers.

ROHM Semiconductor has developed 4th Generation 650V IGBTs for automotive electric compressors, HV heaters, and industrial equipment inverters. The new automotive-grade devices achieve class-leading low conduction loss with VCE(sat) of 1.55V, provide 7 microseconds short-circuit withstand time at 25 degrees Celsius junction temperature, and comply with the AEC-Q101 automotive reliability standard. The lineup includes 12 products in the TO-247N package and 10 bare wafer products, with 12 additional TO-247-4L package products under development. ROHM plans to further expand the lineup with compact surface-mount IGBTs using TO-263L and top-side cooling packages.