The Ministry of Commerce responds to the progress of price commitment negotiations in the EU-China electric Autos anti-subsidy case.

On December 19, He Yongqian, the spokesperson for the Ministry of Commerce, responded at a regular press conference regarding the progress of price commitment negotiations in the China-Europe Electric Vehicle anti-subsidy case, stating that China has always advocated solving trade frictions through dialogue and has been making maximum efforts in the negotiations for price commitments in the EU electric vehicle anti-subsidy case. It is hoped that the EU side will take practical actions as soon as possible to jointly promote the negotiations with the Chinese side.

According to Caixin Automotive, this matter has entered an important critical period.

The Passenger Vehicle market is expected to retail around 2.7 million units in December, a 14.8% increase year-on-year.

On December 19, the Passenger Vehicle market is expected to retail around 2.7 million units in December, a 14.8% increase year-on-year and an 11.4% increase month-on-month, with new energy retail expected to reach 1.4 million, giving a penetration rate of about 51.9%.

The financial news agency reports that a significant tail-end market is expected by the end of the year.

Chongqing Sokon Industry Group Stock plans to appoint China International Capital Corporation and China Securities Co., Ltd. as its sponsors for its IPO in Hong Kong.

On December 19, it was learned from multiple informed sources that Chongqing Sokon Industry Group Stock may seek a secondary listing in Hong Kong and will hire China International Capital Corporation and China Securities Co.,Ltd. as its listing sponsorship team. "Chongqing Sokon is currently in the preparatory stage for the (Hong Kong IPO), aiming to raise over 1 billion USD, with plans to complete it as early as next year," said sources. Chongqing Sokon has not responded to the above news.

The financial news agency reports that Chongqing Sokon's total liabilities and debt-to-asset ratio remain high.

The Jiuyue employee aftermath plan has been released: employees will receive compensation of "N+1" and a regulatory joint account will be established with Baidu and Geely assisting in the funding.

On December 19, it was learned that the follow-up plan for Jiyue employees has been formulated. The document shows that under the guidance and witness of relevant government departments, a regulatory co-managed account will be established to pay relevant costs on behalf of Jiyue, with funding provided by Baidu and Geely. The follow-up plan specifically involves four aspects: 1. Economic compensation: Economic compensation will be provided according to the 'N+1' standard. Here, N represents the length of service from the hire date until December 20, 2024, and '1' is based on last month's basic salary and allowances (meal and phone allowances). Unused annual leave and compensatory time off until the resignation date will be accounted for. 2. Salary and social security, provident fund: Salary will be calculated until December 20, 2024. Social insurance and provident fund contributions will be made for employees until December 2024 and will be completed before the required submission time set by the human resources department. 3. Special placement: For employees in the 'three periods' (pregnancy, childbirth, breastfeeding), work-related injuries, and medical periods, jobs will generally be retained until the relevant circumstances end. 4. Implementation method and time: Under the guidance and witness of relevant government departments, a regulatory co-managed account will be established to pay salaries and economic compensation for Jiyue before January 20, 2025, with funding provided by Baidu and Geely.

The financial news agency reports on a case of employee rights protection of domestic car manufacturers that can be recorded in history.

The Tesla Shanghai factory will be taken over by Fei Wenjin.

On December 19, it was reported that Song Gang, the former vice president of manufacturing at Tesla and former head of the Shanghai factory, has recently resigned and will soon join Envision Energy, an energy company focused on wind turbines and energy storage system integration. The position of head of Tesla's Shanghai factory will be taken over by Fei Wenjin, senior director of automotive and parts quality. According to insiders, the quality department overseen by Fei Wenjin collaborates with all segments of the process and is familiar with the entire production workflow, and he is also very motivated.

Caixin Auto: The gap between domestic and foreign vehicle manufacturing is now very small.

Contemporary Amperex Technology is reportedly considering an IPO in Hong Kong to raise at least 5 billion USD.

On December 19, according to insiders, Contemporary Amperex Technology is considering a secondary listing in Hong Kong that could raise at least 5 billion USD, potentially making it the largest listing transaction in Hong Kong since early 2021. Insiders, who requested anonymity as the discussions are not public, stated that Contemporary Amperex Technology is communicating with potential advisors and may list in the first half of 2025 at the earliest. If the financing scale reaches 5 billion USD, it could surpass Midea Group Co., Ltd's 4.6 billion USD IPO in September and become the largest Hong Kong stock issuance since Kuaishou Technology raised 6.2 billion USD in early 2021. Insiders mentioned that Contemporary Amperex Technology is still in consideration, and the plans may change. The secondary listing still requires approval from China's securities regulatory authorities. Representatives of Contemporary Amperex Technology declined to comment.

Caixin Auto: There is increasing chatter about automotive-related companies going public in Hong Kong.

New car registrations in the EU decreased in November, with France seeing the largest decline in registrations.

On December 19, it was reported that new passenger vehicle registrations in the EU slightly decreased in November, with most of the four major markets in the region experiencing declines. The European Automobile Manufacturers Association (ACEA) stated that new car registrations fell by 1.9% in November to 869,816 vehicles, compared to a growth of 1.1% in October. The association indicated that France had the largest decline in vehicle registrations in the EU, down nearly 13%, followed by Italy with a drop of nearly 11%; Germany saw a slight decrease of 0.5%; while Spain experienced a 6.4% increase in registrations.

Caixin Auto: European auto companies are collectively 'wintering'.

California will ban the sale of new RBOB Gasoline Autos by 2035.

On December 18, local time, the US Environmental Protection Agency (EPA) officially approved California's plan to ban the sale of new RBOB Gasoline Autos before 2035. It is reported that California has set strict emission standards and plans to prohibit the sale of new RBOB Gasoline Autos in the state by 2035, but the state government needs to obtain an exemption from the EPA to continue to advance this plan. In this regard, the EPA announced that it will approve two exemptions. First, it approved California's request that by 2026, 35% of new vehicle and light truck sales must be zero-emission vehicles, with a goal of reducing emissions by 90% compared to current levels by 2027. Second, it allows California officials to require that all new vehicle sales must be zero-emission vehicles within the next ten years.

The ban on RBOB Gasoline Autos has become an irresistible trend.

(Reporter Zhang Yipeng of the Financial Association整理/点评)