ACROFAN

ChangAn Launches Rayong Factory, Marking Key Step for its Vast Ocean Plan

Greenland Technologies Reports Fiscal First Quarter 2025 Results

XCMG to Host 7th International Customer Festival in 2025: A Grand Celebration of Innovation, Sustainability, and Cross-Cultural Collaboration

China Automotive Systems Reports 19.9% Increase in Net Sales in First Quarter of 2025

DENZA Secures First Business Aviation Partnership With HKBAC, Asia's Best Private Jet Terminal

Empowering New Industrialization, XCMG Machinery's 2024 Annual Report Highlights High-Quality Development

ForwardX Deploys 435 AMRs at Chery Automobile's Dalian Factory

Autohome Inc. Announces 2025 Q1 Earnings: New Energy Business and Data Products Drive Steady Growth

Kaiyi Auto Sets Sail Its New Developing Strategy in Global Market

ZNA Z9: The "Rugged New Player" in Pickup Kicks Off Pre-sales

ZHENGZHOU, China, May 7, 2025 /PRNewswire/ -- On March 31, the grand pre-sale launch event for the "Rugged Off-road Pickup Player" Zhengzhou Nissan (referred to herein as ZNA) Z9 was held in Beijing, China. This strategic new pickup model from ZNA has officially begun its pre-sales phase, with two exciting versions: the Z9 and the Z9 GT. The event also marked the announcement of an ambitious plan, with up to nine new models set to launch over the next two years. It showcases the company's strategic capabilities, from platform development to technology and product innovation. Z9 has completed its launch, and the overseas pre-sale of the Z9 was officially launched during the Shanghai Auto Show. Mr. Stephen Ma, CEO of Nissan Motor., Chairman of Nissan (China) Management Committee, Chairman of Nissan (China) Investment Co., Ltd., and President of Dongfeng Motor Co., Ltd., shared his vision at the launch: "In alignment with our 'In China, For China, Toward the World' strategy for electrification and smart transformation, Nissan will fully support ZNA's 'off-road strategy.' We are working to strengthen our research and manufacturing capabilities, further advancing our presence in the core markets of pickups and off-road vehicles, with the ultimate goal of achieving global expansion." Through the launch of Z9, ZNA introduces its bold new brand proposition: "Rugged Off-road Pickup Player." With 32 years of professional expertise, it aims to provide the best possible driving experience tailored to today's users. Its brand values will transform from being a "users' partner" to a "users' playmate," enabling users to enjoy a more colorful and possible life. "α•Star," a global diverse off-road platform having taken three years to develop, have achieved 17 critical technological milestones in the areas of platformization, electrification and smart technologies. Focused on "off-road capability, new energy, and international expansion," this platform ensures that fuel, electric, and PHEV models are all integrated for aligned planning, design and R&D. Vehicles on this platform are highly versatile, covering "electric, fuel, or PHEV," are "designed for daily travel, commercial use, or off-road adventures," and are "ideal for daily use, business, or travels." Mr. Mao Limin, Executive Vice President of ZNA Mr. Mao Limin, Executive Vice President of ZNA, emphasized at the launch: "The mission of the new generation of Chinese automotive professionals is clear – to ensure that made-in-China cars are driven across the world. ZNA will utilize its dual-brand and dual-channel advantages to expand its global footprint. We aim to be one of the top exporters of pickups within three years and to reach a sales milestone of 100,000 units." As the cornerstone of ZNA's new strategic direction, the Z9 redefines the driving experience in terms of safety, comfort, and performance. Equipped with a variety of cutting-edge features, including C-NCAP five-star safety rating, a cage-like cabin combined with a 97% high-strength chassis, a 540° surround-view HD camera system, ultra-low beam mode with high-performance lighting, rear seats that can be adjusted in three positions, a 90° wide opening angle for the car doors, a one-touch damped tailgate, electric running boards with a 470mm ground clearance capable of supporting up to 200kg, the largest cooling system in the industry, innovative dual air filtration technology, 10 all-terrain driving modes, a 3.5-ton towing capacity, and 28 flexible storage spaces, Z9 is designed to fully support outdoor activities such as RV camping and long-distance cross-country driving. As the flagship of ZNA's strategic shift, the Z9 will redefine the value of pickups across various scenarios, offering an all-encompassing driving experience that is both functional and thrilling. Whether for the practical needs of traditional pickup users or the adventurous aspirations of a new generation of drivers, the Z9 promises to provide a new level of excitement and versatility.

HIGHLY Showcases Next-Gen Lightweight Thermal Management Solutions at Auto Shanghai 2025

SHANGHAI, May 7, 2025 /PRNewswire/ -- At the Auto Shanghai 2025, HIGHLY (Shanghai Highly Group Co., Ltd.), a global leader in new energy vehicle (NEV) thermal management systems, unveiled its breakthrough lightweight, integrated solutions tailored for next-generation electric vehicles. The highlights include the R290 Refrigerant Thermal Management Module, Low-Temperature Heat Pump Self-Heating Compressor, and Low-Temperature Heat Pump Integrated Compressor, reinforcing HIGHLY's technological leadership in eco-friendly, high-efficiency automotive thermal management. R290 Refrigerant Module: Compact, Green, and Safer Designed to meet stringent global environmental standards, the R290 module uses natural propane refrigerant (GWP≈3), reducing carbon footprint while ensuring safety with a sub-150g charge. Through structural optimization and integrated casting, the module cuts volume and weight by 10% versus predecessors. Its ultra-thin flow channel plates (10.5mm average thickness) and embedded control systems enhance space efficiency and energy management. Cold-Climate Innovation: Dual Compressor Solutions Addressing extreme cold challenges, HIGHLY launched two compressor breakthroughs: Self-Heating Compressor: Enables reliable operation at -40°C via optimized motor heating and anti-liquid impact design, extending lifespan by 10%. Integrated Compressor: Combines self-heating with a printed heating membrane for rapid warming, achieving 15% weight reduction and full-scenario thermal efficiency. Both solutions overcome traditional -10°C heating limits, ensuring NEV performance in harsh environments. Accelerating NEV Market Leadership With China's NEV sales hitting 12.87 million units in 2024 (35.5% YoY growth), HIGHLY is expanding its global footprint across 24 plants and 6 R&D centers in 11 countries. Its new Wuhu production line, operational since 2024, leverages smart manufacturing to meet soaring demand, aligning with industry trends toward sustainability and integration. HIGHLY's innovations underscore its commitment to driving the EV revolution through cutting-edge thermal management technologies, supporting global automakers in achieving energy efficiency, safety, and carbon neutrality goals.

TIER IV fuels development of autonomous driving standards and an open dataset in Japanese government initiative

TOKYO, May 7, 2025 /PRNewswire/ -- TIER IV, the pioneering force behind the world's first open-source software for autonomous driving, is proud to announce its selection for a major Japanese government project aimed at expanding deployments of autonomous driving services to address local mobility challenges. Through this initiative, TIER IV aims to advance autonomous driving standards for Level 4+ and deliver an open dataset that enables the development of highly transparent and traceable end-to-end AI. Under this project, TIER IV will work closely with consortium members to develop industry-leading standards for autonomous driving, with automotive manufacturers playing a central role. This will facilitate the deployment of new autonomous driving services across the country. The consortium will also explore global market opportunities, especially in regions facing similar mobility and urban development challenges. In addition, the consortium will develop an open dataset by integrating real-world data with data created by generative AI. This will enable the creation of simulation environments that replicate diverse traffic scenarios, essential for evaluating safety and performance. In April 2025, TIER IV launched a collaboration with Carnegie Mellon University to develop a hybrid architecture that combines data-centric AI approaches with best practices in robotics, aiming to realize a next-generation Level 4+ autonomy concept. By leveraging the insights and outcomes from this collaboration, TIER IV will advance the development of autonomous driving standards for Level 4+, while creating and providing an open dataset designed to ensure transparency and traceability in the decision-making processes of embedded AI. Focus areas Efforts to establish autonomous driving standards for Level 4+ include: Integration of multiple end-to-end generative AI models into autonomous driving systems, with scenario-based evaluations used to compare their characteristics. Development of a framework for evaluating and validating generative AI models, along with a roadmap for real-world deployment. Application of safety evaluation techniques to robotaxi services, drawing on findings from proof-of-concept tests to support safe service design. The creation and delivery of an open dataset that enables the development of highly transparent and traceable end-to-end AI involves: Collection of driving data using Level 4+ vehicles in and around Tokyo. Development of a large, diverse dataset by combining real-world and synthetic data to evaluate autonomous driving systems in complex environments. Generation of varied driving scenarios using different generative AI architectures, reflecting a wide range of behaviors, traffic participants, and environmental conditions. Comparison of synthetic output with real-world data to address generative AI challenges such as errors and hallucinations. Performance will be validated in real systems to confirm model utility, identify weaknesses, and support continuous improvement through MLOps pipelines. Delivery of a large-scale dataset through the evaluation of generative AI models in partnership with automotive manufacturers and the definition of synthetic data requirements. The Japanese government's Mobility DX Strategy aims to establish profitable autonomous taxi services in the near term. TIER IV's participation in this project will not only contribute to this goal, but also lay the groundwork for applying autonomous driving technologies to passenger vehicles, further strengthening the global competitiveness of Japan's automotive industry. About TIER IV TIER IV stands at the forefront of deep tech innovation, pioneering Autoware, the world's first open-source software for autonomous driving. Harnessing Autoware, we build scalable platforms and deliver comprehensive solutions across software development, vehicle manufacturing, and service operations. As a founding member of the Autoware Foundation, we are committed to reshaping the future of intelligent vehicles with open-source software, enabling individuals and organizations to thrive in the evolving field of autonomous driving. Autoware is a registered trademark of the Autoware Foundation. Media contactpr@tier4.jp

Winline Technology Showcases Advanced Charging Solutions for the North American EV Market at ACT Expo 2025

LOS ANGELES, May 6, 2025 /PRNewswire/ -- At the 2025 Advanced Clean Transportation (ACT) Expo, Winline Technology, a global provider of electric vehicle charging modules and intelligent energy systems, showcased a suite of high-efficiency, high-reliability power modules designed to meet the surging demand in the North American EV and charging infrastructure markets. Throughout the event, Winline Technology engaged in dynamic discussions with industry experts, partners, and potential clients, emphasizing the innovative features of its products and their pivotal role in addressing the challenges of an evolving EV infrastructure. The booth attracted significant attention, with many attendees expressing keen interest in Winline Technology's advanced solutions for EV charging and grid resilience. Winline Technology Showcases Advanced Charging Solutions for the North American EV Market at ACT Expo 2025 With EV adoption across North America accelerating—U.S. sales alone exceeding 2.2 million units in 2024 and expected to reach 3.5 million in 2025—there is mounting pressure on the charging ecosystem to deliver faster, more scalable, and grid-resilient infrastructure. California alone accounts for over 40% of the nation's EV sales, while federal initiatives such as the Inflation Reduction Act (IRA) and NEVI program are injecting billions into charging station deployment. However, the market continues to face pressing challenges, from inconsistent performance in extreme climates and grid stress to cost inefficiencies in high-power systems. Established in 2007, Winline Technology specializes in the R&D and manufacturing of electric vehicle charging modules, EV chargers, high-voltage direct current (HVDC) power supplies, battery energy storage systems (BESS), smart microgrid devices, and intelligent energy management systems. Leveraging comprehensive capabilities across energy storage, power electronics, and smart grid technologies, Winline Technology delivers integrated solutions for diverse energy application scenarios. At ACT Expo, Winline Technology showcases a product lineup that directly addresses key market challenges, with a focus on liquid-cooled, high-power charging modules, ultra-wide voltage adaptability, and exceptional thermal tolerance. The UXR100060, one of the core exhibits, is a 60kW AC/DC power module engineered to maintain full-load output even under ambient temperatures of 50°C. It supports a broad output voltage range of 100 to 1000V, precisely aligning with the diverse charging needs of electric vehicle platforms across North America, with the U.S. market as a key representative. Its high power density and wide constant power window enable it to serve both public highway stations and urban multi-vehicle chargers. Another highlight, the LCR100040A, is tailored for rugged, high-demand installations such as coastal, mining, and logistics environments. Featuring full liquid cooling, hydroelectric isolation, and a 40kW constant power output from 50 to 1000V, it exemplifies how advanced technologies can overcome environmental and grid-related reliability issues, which are frequent concerns for operators deploying infrastructure in regions with volatile weather or high energy demand. Meanwhile, the UXR100040G, stands out as a flagship solution in Winline Technology's portfolio. Designed to meet IEC 61851-23:2023 and EMC Class B standards, this fully potted 40kW AC/DC module delivers ultra-low standby power consumption, low acoustic noise, and exceptional thermal performance. It offers an optimal balance of reliability and user comfort, making it the ideal choice for commercial-grade fast-charging stations in urban and semi-urban environments. With accelerating global adoption of Vehicle-to-Grid (V2G) technologies and smart microgrid systems in developed markets, Winline Technology has launched three power conversion modules: the unidirectional DC/DC module UXC100040, the bidirectional DC/DC module UXC95050B, and the bidirectional AC/DC module UXG1K022, helping to build a forward-looking energy ecosystem. V2G technology is a system that enables electric vehicles (EVs) to exchange energy with the grid, allowing EVs not only to receive power from the grid but also to return surplus energy, enhancing grid stability and overall energy efficiency. Leveraging broad voltage compatibility, intelligent power management capabilities, and seamless dual-mode interoperability for on-grid and off-grid systems, these modules deliver integrated solutions when synergized with Winline technology's energy storage systems and smart microgrid devices, injecting robust technical momentum into next-generation intelligent ecosystems. Winline Technology also displayed the UXR100030G, and UXR100030S series, all 30kW modules engineered with high conversion efficiency and superior heat dissipation. Their compact design and fully potted construction ensure both performance and durability, making them suitable for scalable charging platforms in densely populated city centers and for mobile charging scenarios such as fleet depots or emergency backup systems. At the ACT Expo, Chase Qi, Winline Technology's Regional Sales Manager, shared, "Our product strategy has always been rooted in the practical needs of global infrastructure development. From highway fast-charging corridors to resilient, high-stability smart energy ecosystems, Winline Technology continuously delivers advanced technologies to support the world's energy transition goals." Notably, Winline Technology's products have obtained multiple international certifications, including CE, CB, UKCA, and UL. Building on proven success across more than 40 countries and regions, Winline Technology remains committed to providing safe, reliable, and high-quality solutions to the North American market, driving a cleaner, smarter, and more accessible energy future. Find more details at en.szwinline.com

PONY AI Inc. and Uber Announce Strategic Partnership to Advance Autonomous Mobility

GUANGZHOU, China and SAN FRANCISCO, May 6, 2025 /PRNewswire/ -- Pony AI Inc. ("Pony.ai") (Nasdaq: PONY), a global leader in achieving large-scale commercialization of autonomous mobility, and Uber Technologies, Inc. ("Uber") (NYSE: UBER), today announced a strategic partnership to deploy Pony.ai's Robotaxis onto the Uber platform. The partnership is expected to first launch in a key market in the Middle East later this year, with a goal of scaling deployments to additional international markets in the future. Once available, when a rider requests a qualifying ride on the Uber app, they may be presented with the option to have their trip fulfilled by a Pony.ai autonomous vehicle. During the initial pilot phase, these vehicles will have a safety operator onboard, until the companies' fully autonomous commercial launch. This is a key step in Pony.ai's global expansion strategy, leveraging its established ecosystem to showcase robust technological readiness. Pony.ai's seventh-generation autonomous driving system facilitates the mass production of Robotaxis on a more scalable and cost-effective basis. This technological advancement aligns with the strategic goals of the partnership, empowering Uber's platform to more quickly and safely integrate autonomous vehicles as the collaboration expands to new markets. "At Pony.ai, our vision is to develop autonomous driving technology that is not only safe and reliable but also scalable, transforming daily transportation," said Dr. James Peng, Co-founder and CEO of Pony.ai. "Partnering with Uber accelerates our shared mission to make autonomous mobility a real, everyday experience for more consumers around the world. By combining our proven autonomous systems, with Uber's unparalleled ride-hailing platform, we're poised to set a new standard for the commercialization of driverless services, starting in the Middle East before expanding to new markets." "Our partnership with Pony.ai is another meaningful step towards introducing the benefits of autonomous mobility to the world," said Dara Khosrowshahi, CEO of Uber. "As the leading on-demand platform of its kind, spanning mobility, delivery, and freight, Uber is uniquely positioned to help accelerate the commercialization of this exciting technology." About Pony AI Inc. Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. About Uber Technologies, Inc. Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 58 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities. For media inquiries, please contact:Pony.ai: media@pony.aiUber：press@uber.com

Caresoft Global Announces Strategic Partnership with KPIT to Drive Leadership in Technology and Cost Optimization Strategies for the Automotive Indust

Caresoft Global's engineering solutions business is to join KPIT, as Caresoft doubles down on technology optimization and cost reduction engineering for the automotive industry. LONDON, May 6, 2025 /PRNewswire/ -- Caresoft Global, a global leader in automotive benchmarking, Cost reduction strategies, and engineering solutions, today announced a strategic realignment of its business and a new chapter in its growth journey. The company will restructure its business into three business units: 1. Benchmarking, Technology Optimization & Cost Reduction Engineering, 2. Engineering Talent Solutions and 3. Engineering Solutions. (Left) Mathew Vachaparampil, CEO, Caresoft Global; (Right) Kishor Patil Co-founder, CEO & Managing Director of KPIT Technologies As part of this strategic realignment, KPIT Technologies, a global leader specializing in software-defined vehicles (SDV), embedded systems, and system integration, will acquire Caresoft Global's carved-out Engineering Solutions business, which is especially focused on off-highway and truck and bus segments globally. Caresoft Global will continue strengthening its Automotive vertical while partnering with KPIT to expand its benchmarking and cost reduction business into new areas such as software benchmarking, creating unique market differentiators, and jointly exploring downstream implementation opportunities. With China continuing to lead in vehicle electrification, AI, modular architectures, and aggressive cost leadership, Caresoft Global, with its strong market presence and deep relationships in China, will partner with KPIT in that region. Together, they aim to bring Chinese innovation to the rest of the world. "This is a defining moment for Caresoft," said Mathew Vachaparampil, CEO of Caresoft Global. "The strength of this partnership is greater than the sum of its parts. While our engineering services are moving into great hands, Caresoft and KPIT will now focus on delivering greater value to customers seeking to save costs in a world of rapid technological evolution and geopolitical complexities. We will jointly deliver more value to our automotive customers in terms of technology, cost, and speed to market." In a statement, Kishor Patil, Co-founder, CEO & Managing Director of KPIT Technologies, said, "We are excited to welcome Caresoft Global's Engineering Solutions business to the KPIT family. At KPIT, we are deepening relationships with trucks and off-highway makers and accelerating our foray into China. Also, OEMs across segments are looking for a partner who can bring more agility and cost efficiency by taking an integrated view of software, hardware, and manufacturing. With Caresoft Global's strong expertise, we have a strategic partnership which will bring unparalleled value to the mobility ecosystem." Continuity of Leadership Key leaders from Caresoft Global's Engineering Solutions division, including Caresoft veteran and President of Engineering, Kalyan Nagarajan, and his team, will transition to KPIT to ensure leadership continuity and sustained growth. "I am confident that with strong synergistic capabilities, shared values, a customer-centric approach, and KPIT's laser-focused execution, we are well-positioned to deliver more value to our existing off-highway and truck & bus customers," said Kalyan. "We are also now set up with the depth and scale to expand our vehicle engineering, cost transformation, and manufacturing solutions." About Caresoft Global Caresoft Global is a leader in automotive benchmarking, technology optimization, cost reduction engineering strategies, and engineering solutions. The company helps automotive OEMs and suppliers optimize their current and future programs' design, cost, and performance. Headquartered in the USA, with a strong global presence in Europe, Japan, China, India, and the UAE, Caresoft Global is trusted by world's leading automotive companies. About KPIT Technologies KPIT Technologies is a global partner to the automotive and mobility ecosystem, making software-defined vehicles a reality. With around 13,000 "automobelievers" specializing in embedded software, AI, and digital solutions, KPIT is helping the mobility industry leapfrog toward a cleaner, smarter, and safer future. Marketing and Communications marcom@caresoftglobal.com

LG Display to Showcase World's Best Solutions for Future Mobility at SID Display Week 2025

SEOUL, South Korea, May 6, 2025 /PRNewswire/ -- LG Display, the world's leading innovator of display technologies, announced today that it will participate in SID Display Week 2025, the world's largest display exhibition, where it will showcase next-generation automotive displays. LG Display’s stretchable automotive display SID Display Week draws together global display companies and researchers to present research papers on new technologies and exhibit medium- to long-term future technologies alongside new products. This year's event is being held in San Jose, California, for three days from May 13 (local time). LG Display plans to showcase the world's best automotive displays optimized for future mobility under the theme "Driving the future." In line with the growing trend of larger and more numerous automotive displays amid the increasing importance of automotive infotainment systems, LG Display will introduce solutions that break boundaries in various aspects, including form, size, and picture quality. With its Stretchable automotive display solution that can turn every interior space into a display, the company is presenting the potential for design innovation geared towards future mobility. LG Display has maximized aesthetics and convenience by applying a Stretchable display to a vehicle's center fascia area. The display can expand by up to 50% while maintaining a high resolution of 100 ppi (pixels per inch), comparable to that of a standard monitor, and full RGB color. A conventional vehicle's center fascia area requires a separate automotive display and physical buttons. With the application of a Stretchable display, however, the screen can freely expand, allowing the display and buttons to merge seamlessly into a single screen. When the screen is touched, the previously flat display flexibly expands and protrudes touch buttons, making it easy to operate even while driving. The company will also showcase various world-leading form factor innovations, including a Pillar-to-Pillar product optimized for Software-Defined Vehicles (SDVs) and a Slidable OLED display that can be rolled up and hidden in a vehicle's interior ceiling. LG Display, which recently achieved the first commercialization of a 40-inch Pillar-to-Pillar display, will exhibit a 57-inch automotive Pillar-to-Pillar display, the largest in the world as a single panel. It is an ultra-large solution that spans the dashboard from the driver's seat to the front passenger's seat. It allows the driver to view vehicle information such as driving data and the air conditioning system at a glance, while also enabling high-definition enjoyment of varied content like movies and games. The 18-inch Slidable OLED display extends downward from the ceiling only when needed. With OLED's distinctive three-dimensional image quality, it enables entertainment functions and provides a new mobility experience. The Pillar-to-Pillar and Slidable product lines introduced this time have secured reliability and durability to ensure they operate normally even in extreme environments, from freezing cold as low as -40°C to the extreme heat of 85°C, making them suitable for automotive use. With the trend of larger automotive displays, a key viewing angle control technology that enhances safety is being showcased, known as Switchable Privacy Mode (SPM). As the first in the industry to commercialize SPM, LG Display's innovation allows the front passenger to watch movies or play games on the area of the display in front of them, while driving safety is supported as the passenger's entertainment content is kept invisible from the driver's seat. Having also become the world's first to commercialize Tandem OLED for automotive displays in 2019, LG Display is strengthening its leadership in premium automotive displays based on its full lineup of related world-class technologies, including P-OLED, Advanced Thin OLED (ATO), and high-end LTPS LCD. "At SID Display Week 2025, we will continue to showcase new technologies that can create differentiated customer value, solidifying our status as the global number one with the world's best automotive displays," said Keuk-sang Kwon, Head of Auto Business Group at LG Display. About LG Display LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world's leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com. Media Contact: Joo Yeon Jennifer Ha, Manager, Communication TeamEmail: hjy05@lgdisplay.com

TERREPOWER Appoints Michael Boe as President of Europe Business Unit

DAPHNE, Ala., May 5, 2025 /PRNewswire/ -- TERREPOWER, a global leader in sustainable manufacturing, specializing in providing high-quality, reliable products to the automotive and industrial markets, announces the appointment of Michael Boe as President of its Europe business unit, effective May 1, 2025. Boe will be based in Zug, Switzerland and will lead the company's European operations as it continues to expand its footprint and capabilities across the region. "Michael's deep expertise in the automotive aftermarket and proven leadership across complex global operations make him the ideal leader to guide our Europe business into its next phase of growth," said Duncan Gillis, Chief Executive Officer of TERREPOWER. "We're excited to have him on board as we position our Europe business for long-term success." Boe brings more than 30 years of international experience to the role, most recently serving as Vice President & General Manager, Global Aftermarket at BorgWarner Emission, Thermal & Turbo Systems. In this capacity, he led operations across Europe, North America, South America, and China, and managed a global remanufacturing network spanning Poland, Mexico, China, and Brazil. His leadership covered a wide range of product lines, including transmissions, turbochargers, and ignition systems. Prior to that, Boe held several senior leadership roles at Meritor, including Managing Director of the company's Commercial Vehicle Aftermarket business in EMEA and Sales Director for EMEA. In both roles, he drove significant improvements in profitability, operational execution, and customer engagement. "I'm excited to join TERREPOWER at such a pivotal time in its evolution," said Boe. "The company's commitment to innovation and sustainability, paired with its global growth strategy, makes this an incredible opportunity. I look forward to working with the talented team in Europe to build on the strong foundation already in place." About TERREPOWER TERREPOWER, formerly BBB Industries, LLC, is a global leader in sustainable manufacturing, specializing in providing high-quality, reliable products to the automotive and industrial markets. With an extensive footprint and operations throughout North America and Europe, TERREPOWER sustainably manufactures and supplies an assortment of nondiscretionary repair parts across more than 90 countries. Founded in 1987, TERREPOWER has a legacy of innovation and a commitment to advancing the circular economy and extending product lifecycles. www.terrepower.com

Ottocast Introduces New-Gen Android Car Box NanoAI, Anchors New Era of Vehicle Intelligence

HONG KONG, May 4, 2025 /PRNewswire/ -- Ottocast, a leading provider of aftermarket connectivity solutions for cars and smartphones, has proudly announced the launch of the new-generation Android car box NanoAI, integrating AI emotive display, voice assistant, CloudSIM and the Android 13 system to provide users with brand-new AI-enabled in-vehicle experience through upgraded intelligent solutions. NanoAI is equipped with the elite-performance Qualcomm Snapdragon 680 chip, and the basic edition has a memory configuration of 8GB and 128GB. With the Android 13 system and CloudSIM, it can connect to the internet without Wi-Fi, hotspot or a physical SIM card. It also supports seamless switching of CarPlay, Android Auto and OttoDrive 2.5, providing more personalization options and full application access. The interactive 1.83-inch AI screen responds to voice commands to ensure safer driving, and the AI-powered Co-Pilot makes conversations smoother and smarter. The enhanced control unlocks more apps and features beyond standard CarPlay or Android Auto, and users can customize the system for a tailored experience and stream videos, browse the web, or use non-native apps directly on the display. "Nano is our answer to the future of smart cockpits. It represents not only a product upgrade, but also Ottocast's new vision and thinking on the integration of user experience and AI," said Hery Zeng, deputy director of Ottocast product development center. NanoAI's wireless connection simplifies smartphone interaction with the vehicle, while its plug-and-play installation ensures a clean setup without messy cables. Additionally, it enhances safety with GPS tracking and security features. "The AI emotive display and voice control completely changes the way users communicate with the vehicles, in that it's no longer an ice-cold piece of equipment, but more like a partner sitting at the co-pilot," said Sophia Chang, CEO of Ottocast. As Ottocast's most forward-looking product, NanoAI not only is a major leap for Ottocast's AI-enabled in-vehicle experience, but also represents the company's entry into the smart AI cockpit sector and a turning point to shift the product strategy from "car adapter" to "intelligent car computing terminal," lowering the threshold for smart cockpit upgrades and promoting the transition of the aftermarket to high value-added products. Looking ahead, Ottocast will continue to expand its product line with commitment to further redefining the future of in-vehicle lifestyle through continuous innovation, turning the automobile into a true "third space." For more details, please visit www.ottocast.com

Zeekr Group Announces April 2025 Delivery Update

HANGZHOU, China, May 1, 2025 /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("Zeekr Group" or the "Company") (NYSE: ZK), the world's leading premium new energy vehicle group, today announced its delivery results for April 2025. In April, Zeekr Group delivered a total of 41,316 vehicles across its Zeekr and Lynk & Co brands, marking a 1.5% increase compared to the previous month. This achievement was made possible by the trust and support of over 1.9 million users. Specifically, the Zeekr brand delivered 13,727 vehicles, while Lynk & Co delivered 27,589 vehicles. The Zeekr 7GT, the brand's second shooting brake, was launched in China on April 15, 2025. Equipped with advanced silicon carbide-powered e-motors, the vehicle achieves 0-100 km/h acceleration in merely 2.95 seconds under rolling start conditions. With exceptional performance and world-class safety features, the Zeekr 7GT is poised for a strong showing in global markets. Zeekr Group also unveiled its flagship luxury SUV, the Zeekr 9X, at the Shanghai Auto Show. As the first hybrid model under the Zeekr brand, the Zeekr 9X sets new benchmarks in design, performance, and electrification, marking a major leap forward for the brand. This groundbreaking model is slated for a global launch in the third quarter of 2025. On April 28, the Lynk & Co brand began deliveries of the Lynk & Co 900, a large six-seater family SUV. Built on the powerful SPA Evo platform, the top-tier variant is equipped with the G-Pilot H7 package, featuring NVIDIA's DRIVE AGX Thor computing platform with an industry-leading 700 TOPS of processing power. With its expansive interior, cutting-edge technology, and thrilling performance, the model has already garnered over 40,000 pre-orders since its debut in December. About Zeekr Group Zeekr Group, headquartered in Zhejiang, China, is the world's leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain. Zeekr Group's values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider. For more information, please visit https://ir.zeekrgroup.com. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "future," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. Investor Relations Contact In China:ZEEKR Intelligent Technology Holding LimitedInvestor RelationsEmail: ir@zeekrlife.com Piacente Financial CommunicationsTel: +86-10-6508-0677Email: Zeekr@thepiacentegroup.com In the United States:Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050Email: Zeekr@thepiacentegroup.com Media ContactEmail: Globalcomms@zeekrgroup.com

The flagship model made a stunning debut, and the smart factory received widespread praise: Aima Technology showcased the "Made in China" hardcore str

TIANJIN, China, April 30, 2025 /PRNewswire/ -- From April 15 to 19, the 137th China Import and Export Fair (Canton Fair) was held in Guangzhou. As a leading electric two-wheeler company, Aima Technology of China showcased its flagship product, the A717, which has won multiple prestigious awards, including London Design Award and European Product Design Award. Other models such as the S1, Bigsur, and Santa Monica were also displayed. Deputy Commissioner Xu from the Ministry of Commerce of China visited the booth for guidance. During the fair, Aima Technology invited customers from several countries, including Qatar, Malaysia, Morocco, and Thailand, to visit their factory in Dongguan. They also held a small-scale business conference on-site. Factory features a smart welding workshop, which, relying on a digital system, adopts advanced technologies like automotive-grade electrophoresis and fully automated injection molding. This enables a smart upgrade of the entire process from design to production, with the manufacturing process managed through information systems. A new electric bicycle can be produced in just 30s. Aima Technology has a strong capability and places great emphasis on product research and development, owning 2,186 company patents. Over the past four years, they have invested over 2.1 billion RMB in R&D and received international quality standard certifications, such as the EU EEC. The Aima factory also houses a CNAS national-level laboratory, covering an area of 11,000 square meters, with a total investment of 40 million RMB. The laboratory operates 24/7 for data testing, with more than 400 testing devices and over 522 electric vehicle monitoring items. The vibration durability test alone can reach 1 million cycles. The high level of automation, mature assembly lines, and strong production capacity of Aima's factory have won praise from customers, fostering deep cooperation between Aima and global distributors. Currently, Aima electric vehicles have been deployed in over 50 countries worldwide, with 11 major production bases. As of March 31, 2024, Aima's total sales have reached 80 million units, earning "Global Leading Electric Two-Wheeler Brand" certification from the authoritative growth consulting firm Frost & Sullivan. This showcases Aima as a leading global brand in the electric two-wheeler industry. In future, Aima Technology will continue to accelerate its "go global" strategy, providing more creative and sustainable green travel solutions for consumers around the world.

HL Mando Recognized as 2024 Supplier of the Year by General Motors

SEOUL, South Korea and LAS VEGAS, April 30, 2025 /PRNewswire/ -- On April 8, 2025, General Motors presented HL Mando with a 2024 Supplier of the Year Award at GM's 33rd annual Supplier of the Year event in Phoenix, Arizona. (From the left) Min-Chul Lee (Head of Production Engineering team, HL Mando America Jeff Pontius (Director of Brake R&D, HL Mando America), Alison Ellis (Director of Sales, HL Mando America) Jason (Jae-hyuk) Kim (Head of Americas Region, HL Mando), Jeff Morrison (Global Chief Procurement Officer, GM) HL Mando, HL Group's leading Tier 1 automotive Software Defined Vehicle (SDV) company, was selected by General Motors (GM) for its 2024 Supplier of the Year (SOY) award. HL Mando has been awarded for five consecutive years and 11 times in total. On April 8, the 33rd SOY recognition event was held in Arizona, USA and attended by the Head of HL Mando Americas region Jason (Jae-hyuk) Kim, R&D Director Jeff Pontius, and Sales Director Alison Ellis. 92 companies from 12 countries were recognized as excellent partners to General Motors. Less than 1% of GM's suppliers are awarded the SOY Award. HL Mando was recognized in the Brake Apply & Controls category - its Motor on Caliper (MoC) product, which received the spotlight again, is manufactured at HL Mando's Alabama plant. GM praised not only the company's localization efforts but also its technological innovation. HL Mando's North American localization journey began in 1996. The corporation laid the groundwork for expansion into the North American region by establishing its first R&D center (Mando Engineering & Sales America; MESA) in Michigan. Then, HL Mando launched its first manufacturing facility, Mando Corporation America in Alabama (MCA), and won its first SOY award in 2003. Following the completion of the Alabama plant in 2004, a second production facility was added in 2012 to meet the growing demand for casting components. This became the MCA Georgia Plant. In 2013, HL Mando expanded its R&D capabilities by establishing a second R&D center, HL Mechatronics (HM), also in Michigan. While MESA focuses on development activities up to mass production, HM specializes in future-oriented automotive technologies. HL Mando has recently invested approximately USD 700 million in its North American operations. The amount is a testament to the corporation's commitment to the North American sector, demonstrating continued focus on cutting-edge technology. "For more than 30 years, General Motors has recognized the company's top global suppliers at our annual event, spotlighting their innovation and resiliency through even the most challenging circumstances," said Jeff Morrison, global chief procurement officer at GM. "Together, we're helping bring advanced technology and the industry's broadest portfolio of vehicles to market for GM customers. GM's Supplier of the Year awards recognize global suppliers for their execution across key categories like safety, innovation and resilience. A global cross-functional team makes award selections based not only on an organization's performance across 2024, but also their alignment to GM's core values and ambitious goals. Jason (Jae-hyuk) Kim, the Head of HL Mando Americas region, stated, "Our three decades of localization efforts in North America have led to strong customer satisfaction. And we look forward to shaping the future together with GM through collaboration in future mobility areas such as automotive software and autonomous driving."

MUNIK Receives DEKRA's First ISO/PAS 8800 Certificate for Automotive AI Safety Development Process

SHANGHAI, April 30, 2025 /PRNewswire/ -- MUNIK, a leading automotive safety technology firm, has been awarded the world's first ISO/PAS 8800 certification by DEKRA, Germany's largest independent testing and certification organization. This milestone underscores MUNIK's pioneering role in integrating artificial intelligence (AI) safety within automotive development processes. China's automotive industry has experienced rapid growth in recent years, propelled by the rise of new energy vehicles (NEVs), a comprehensive industrial ecosystem, and a vast pool of engineering talent. This evolution has fostered robust innovation across the supply chain, encompassing chip manufacturing, software systems, vehicle components, domain controllers, and original equipment manufacturers (OEMs). As vehicles become increasingly central to mobility, ensuring their safety has become paramount. And the automotive sector has proactively adopted voluntary safety standards. Since its introduction in 2012, the ISO 26262 functional safety standard has been widely implemented by OEMs and suppliers globally. Subsequent standards, including ISO 21434 for cyber security, ISO 21448 for safety of the intended functionality (SOTIF), and the recently published ISO/PAS 8800 for AI safety in December 2024, have further reinforced the industry's commitment to comprehensive safety frameworks. Building upon extensive experience in ISO 26262, ISO 21448, ISO 21434, and ASPICE projects, MUNIK made preparations for the application and practice of automotive AI safety technology and initiated the development of an ISO/PAS 8800-compliant process. Since 2022, in order to provide better technical service for our customers. Collaborating with German and domestic experts in AI automotive safety, MUNIK established a robust development framework through iterative enhancements. This effort culminated in a successful independent safety audit by DEKRA, resulting in the final certification of ISO/PAS 8800. On April 30, 2025, Mr. Li Mingxun, General Manager of Functional Safety at DEKRA China, presented the ISO/PAS 8800 certification to Mr. Fan Wentao, Director of Automotive Safety at MUNIK. The ceremony was witnessed by esteemed guests, including Secretary Dong Qing of the Songjiang District Association for Science and Technology, Ms. Xiao Lan, Chairperson of the Huoshui Association for Science and Technology, and Mr. Wang Jianguo, MUNIK's Chief Technology Officer and Senior Partner. MUNIK places significant emphasis on developing capabilities that address the safety challenges posed by AI integration in vehicles. The ISO/PAS 8800 standard mandates that companies embedding AI technologies into vehicle systems must establish comprehensive safety processes. Leveraging over 25 years of expertise in electronic and electrical design, along with 15 years in functional and general safety design and certification, MUNIK collaborated with German AI automotive experts and leading Chinese universities, including Zhejiang University and Fudan University, to construct a robust automotive safety development process. This process encompasses AI-specific attributes such as bias, prediction, robustness, and generalization, ensuring thorough design considerations and the establishment of safety guidelines. MUNIK's aligns development process with ISO/PAS 8800's Section 6.2 requirements, addressing AI system items, traditional hardware AI components, and software components implementing AI models. The process integrates AI safety considerations across the entire product lifecycle, including functional safety management (Part 2), concept phase (Part 3), technical safety concept (Part 4), hardware development (Part 5), software development (Part 6), and production aspects (Part 7). Furthermore, it harmonizes with ISO 21448's SOTIF requirements, ensuring a cohesive approach to AI-related safety risks. Mr. Li Mingxun of DEKRA China remarked, "The award of the ISO/PAS 8800 functional safety process certification marks a significant milestone for both DEKRA China and MUNIK. We are committed to collaborating with MUNIK to contribute professional expertise to China's automotive safety landscape. This partnership exemplifies the importance of specialized collaboration in meeting global functional safety service requirements." Secretary Dong Qing of the Songjiang District (Shanghai) Association for Science and Technology commented, "As the Huoshui Association embarks on a new chapter, Vice Chairman Mr. Wang Jianguo, also the founder of Shanghai MUNIK Technology Services Co., Ltd., has led the company to become a benchmark in safety design technical services. MUNIK's rapid development in Songjiang and its contributions to the automotive and chip design industries are commendable. The district will continue to support MUNIK's growth, anticipating further contributions to China's automotive industry." Mr. Wang Jianguo, MUNIK's Chief Technology Officer and Senior Partner, concluded, "We aspire for MUNIK's advancements in ISO/PAS 8800 AI-integrated safety design to catalyze progress across the industry, mirroring our past contributions in sectors such as general industrial functional safety, process industry safety, industrial robotics, and AGVs. By offering ISO/PAS 8800 technical training, consulting, and assessment services to automotive EE design enterprises, MUNIK aims to lead the integration of AI safety technologies in automotive applications, fostering the rapid development of top-tier domestic automotive safety product companies. This mission is shared by all Chinese enterprises, and we are steadfast in our commitment to making safety the cornerstone of our automotive industry's rapid advancement." TEL：+8615601875272EMAIL: shmunik@munik.com WEBSITE：www.munik.com

Uxin Full Year 2024 Annual Letter to Shareholders

BEIJING, April 30, 2025 /PRNewswire/ -- Dear Shareholders, On behalf of Uxin Limited, I would like to express my sincere appreciation for your continued interest and support. It is my pleasure to share with you our key achievements over the past year, along with our strategic insights and outlook for the future. 2024 was a challenging year for the broader Chinese economy, marked by ongoing macroeconomic headwinds and an intense price war in the new car segment that weighed on the used-car market. Despite these pressures, China's used-car industry continued its upward trajectory. During 2024, China's used car annual transaction volume reached 19.6 million units, up 6.5% year-over-year, outpacing the 4.5% growth rate of the new car market during the same period. Policy tailwinds also played a supportive role. Beginning in September, a number of local governments introduced trade-in subsidy programs, which helped stimulate vehicle turnover that in turn stabilized and revived market demand. We are especially proud of the strong performance of our superstores' operations in 2024. This success further validates the scalability and replicability of our business model. In the sections that follow, I will outline four key milestones that reflect our progress. First, fueled by our industry-leading product and service capabilities, Uxin's used-car retail business delivered growth that significantly outperformed the broader market. In 2024, our retail transaction volume rose from approximately 3,100 units in the first quarter to 8,500 units in the fourth quarter, achieving over 30% quarter-over-quarter growth for three consecutive quarters. For the full year, retail transaction volume reached nearly 22,000 units, representing a year-over-year increase of more than 130%. This remarkable growth was underpinned by enhanced operational execution across our business. We scaled our inventory levels in a disciplined manner, ending the year with stock roughly three times higher than at the start of 2024. At the same time, we maintained an efficient inventory turnover cycle of approximately 30 days, which supported sustained sales growth. Second, as we scaled our operations, we also continued to strengthen brand equity and customer loyalty in the core markets where our superstores operate. We actively collected and analyzed customer feedback to refine our after-sales service processes, improving response times and elevating service quality. As a result, our Net Promoter Score reached 65 in the fourth quarter, up from an average of 60 in the prior year, further reinforcing our position as a trusted leader in China's used-car retail landscape. At the same time, we continue to strengthen our digital capabilities, leveraging data to build intelligent, technology-driven decision-making across every aspect of our operations. Recently, we began integrating large language models into our business processes to further enhance efficiency in areas such as pricing, vehicle reconditioning, and customer acquisition. The use of digital technologies is enabling greater standardization and scalability across our platform, laying a solid foundation for the large-scale replication and expansion of our superstore model. Lastly, our financial position continues to strengthen. In the fourth quarter of 2024, we delivered positive adjusted EBITDA for the first time on a quarterly basis. As our sales volume grows, we are starting to achieve meaningful economies of scale. Our gross margin has improved from 4.8% in the fourth quarter of 2023 to 7.0% in the same period of 2024. With additional superstores coming online and our business scale expanding, we are confident in our ability to deliver sustainable and growing profitability in the quarters and years ahead. Looking ahead to 2025, we will continue to build on the foundation of our large-scale superstore model, executing a disciplined regional expansion strategy to further scale our operations and drive profitability. First, we aim to unlock additional capacity at our existing superstores and increase our market share in their respective cities. Currently, both our Xi'an and Hefei superstores are operating at less than 50% of their full capacity. In 2025, we plan to continue ramping up inventory at these locations while maintaining efficient turnover cycles to support sustained growth in retail volume. Second, we plan to open between two to four new superstores in key regional markets while strengthening our integrated online-offline retail ecosystem. As previously disclosed, Uxin has entered into partnerships with local governments in Wuhan and Zhengzhou to establish new superstore operations. Both cities have populations exceeding 12 million and vehicle ownership bases of over 5 million units, representing highly ideal markets for expansion. Our Wuhan superstore began trial operations in February 2025, and our Zhengzhou superstore is on track to open in the second half of the year. In parallel, we are actively identifying and preparing additional locations to support new store launches in the coming years. Third, for our full-year operational targets in 2025, we aim to achieve another year of over 100% growth in retail transaction volume and to deliver our first full-year positive adjusted EBITDA. As we pursue expansion, we remain committed to maintaining the long-term health of our financial position. China's car ownership has now surpassed 350 million vehicles. As an increasing number of these vehicles enter the secondary market, the trillion-RMB used-car sector is expected to maintain strong growth momentum over the next 5 to 10 years. The sector is evolving toward a new phase of growth, defined by brand-oriented, large-scale, and standardized development. As a pioneer and leader in China's used-car industry, Uxin is well-positioned to lead this transformation. Through our modernized retail experience, professional vehicle reconditioning capabilities, and a highly efficient, data-driven operating model, we are setting new benchmarks for the sector's advancement. We remain fully committed to delivering the best used-car products and services to our customers, and to generating long-term value for our shareholders, many of whom have supported us through every phase of our journey. Kun DaiChairman and Chief Executive Officer of Uxin Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Uxin's strategic and operational plans, contain forward-looking statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: impact of the COVID-19 pandemic, Uxin's goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin's expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China's used car e-commerce industry; the laws and regulations relating to Uxin's industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media enquiries, please contact: Uxin Limited Investor RelationsUxin LimitedEmail: ir@xin.com The Blueshirt GroupMr. Jack WangPhone: +86 166-0115-0429Email: Jack@blueshirtgroup.com

GOODYEAR SHOWCASES ADVANCED TIRE TECHNOLOGIES AT AUTO SHANGHAI 2025

SHANGHAI, April 29, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (Goodyear) showcased its leadership in tire technologies during Auto Shanghai 2025. First held in 1985, Auto Shanghai is China's oldest auto exhibition and is considered as an important major international auto show. Greg Hanna, Vice President of Product Development & Quality for Goodyear Asia Pacific delivered a keynote themed "Tire Technologies Shape a Better Future" at the Auto Key Tech Forum. Marking a historic moment, this event witnessed China's Intelligent Chassis Working Group engaging with tire companies for the first time, with Goodyear leading as the first tire company to participate. "The tire is the only part of the vehicle that contacts the road, making it a critical source of information about the interaction between the vehicle and the driving surface. As a technology pioneer, Goodyear has been advancing tire intelligence for over a decade. We established a dedicated sub-brand called SightLine, focused exclusively on delivering innovative tire intelligence solutions." stated Hanna. Goodyear SightLine revolutionizes tire management and safety. SightLine encompasses a wide range of features, including precise tire pressure monitoring, real-time wear status tracking, tire remaining mileage analysis, tire load, road surface condition monitoring, tire-road friction estimation, aquaplaning detection, and adaptive tire models. Based on the recent demo drive with consumers and media members, Goodyear SightLine is praised for its two unique features: intelligent tire-road insights on real-time estimation of road friction, aquaplaning, tire physics model and a lifecycle dynamic monitoring function that continuously tracks and reports tire wear, remaining mileage, pressure, temperature and load changes to the vehicle system. Goodyear Electric Drive Sustainable Materials Tire, China's first ISCC mark retail tire containing more than 70% sustainable materials has also been featured at the forum. About The Goodyear Tire & Rubber Company Goodyear is one of the world's largest tire companies. It employs about 68,000 people and manufactures its products in 53 facilities in 20 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

Volvo Cars reports Q1 2025 results, launches SEK 18 billion cost and cash action plan

GOTHENBURG, Sweden, April 29, 2025 /PRNewswire/ -- Q1 revenue was SEK 82.9 bn (SEK 93.9 bn in Q1 2024) Q1 operating income (excl. JVs and associates) was SEK 1.9 bn (SEK 6.8 bn in Q1 2024) Q1 operating income was SEK 1.9 bn (SEK 4.7 bn in Q1 2024) Q1 EBIT margin (excl. JVs and associates) was 2.3 per cent (7.2 per cent in Q1 2024) Q1 EBIT margin was 2.3 per cent (5.0 per cent in Q1 2024) Q1 basic earnings per share was 0.40 SEK (1.12 SEK in Q1 2024) Q1 fully electric car sales share at 19 per cent (21 per cent in Q1 2024) Q1 electrified car sales share at 43 per cent (41 per cent in Q1 2024) Volvo Cars today reports a group operating income (EBIT) of SEK 1.9 billion for the first quarter of 2025, following a drop in wholesales as part of a planned inventory reduction during Q4 last year, as well as adverse currency effects. The result also reflects the current turbulence in the world and a challenging external environment for the automotive industry. To protect profitability and drive structural efficiencies on direct and indirect costs, as well as helping to offset external headwinds, the company has launched an accelerated cost and cash action plan totalling SEK 18 billion. The majority of the effects from this plan will be realised in 2026. The plan includes SEK 3 billion in variable cost actions and SEK 5 billion in indirect spend efficiencies, half of which will impact EBIT already in 2026. Furthermore, SEK 10 billion will be added in additional cash actions to reduce working capital and capital expenditures during 2025 and 2026. The reductions in investments are in addition to the already planned lower investments going forward, as previously communicated. As part of the action plan, there will be redundancies at its operations around the globe, but the company will come back with more details as soon as possible. "The automotive industry is in the middle of a very difficult period with challenges not seen before," said Håkan Samuelsson, Volvo Cars CEO. "Over the last few weeks, I have worked with the management team and other colleagues on a plan to make the company stronger and more resilient. While our strategy is clear, we must get better at delivering results. Given the turbulence in the market, we need to further improve our cash flow generation and lower our costs. While we still have a lot to do, our direction going forward is focused on three areas: profitability, electrification and regionalisation." Volvo Cars remains firm on its ambition of becoming a fully electric car company. Fully electric is the fastest growing market segment and Volvo Cars is a leader in this transition. 43 per cent of all the Volvo cars sold in the first quarter were electrified, meaning fully electric or plug-in hybrid, with almost a fifth of sales fully electric. During the first quarter, Volvo Cars also launched its next fully electric software-defined car, the ES90. As Volvo Cars accelerates towards full electrification, its premium plug-in hybrids provide a pragmatic bridge for customers not yet ready to switch. Volvo Cars also sees a need to adapt to a more regionalised world. This includes a more focused approach for each region in terms of product, technology, manufacturing and commercial. The company will empower its regions to better meet the needs of its customers, ensuring it is resilient and fit for growth. The company will start by focusing on the US and China markets, as priorities. In China, it will adapt faster to the fast-changing auto sector and customer demands, and the company is looking into giving larger operational responsibility to the market. Volvo Cars will soon reveal its first extended range plug-in hybrid in China – a good example of its ability to tailor products to different demands in different markets. Volvo Cars is also undertaking a strategic restructuring of its operations in the US and has created a new region, called Americas. This region includes the US, Canada and the Latin America markets and will be led by Luis Rezende. At the same time, Mike Cottone will leave Volvo Cars and the company wishes to thank him for his almost 20 years of service. The restructuring further simplifies the company's global operations into three streamlined regions: Americas, Greater China, and Europe & Rest of the World. In the US, the company will sharpen the product line-up it needs for growth and how it can better use its existing manufacturing footprint there in the coming years – producing more cars where they are sold. Earlier this month, Volvo Cars started production of the important EX30 at its Ghent factory in Belgium. Q1 results breakdown The current turbulence in the broader world economy is reflected in the company's financial results for the first quarter. In terms of retail sales, the company sold 172,219 cars in the first quarter, a drop of 6 per cent compared to the same period in 2024. The result was also affected by currency effects and a 19 per cent drop in wholesale volumes after Volvo Cars lowered its inventories in Q4 last year. Revenues fell by 12 per cent to SEK 82.9 billion. The core EBIT of SEK 1.9 billion translated into a core operating profit margin of 2.3 per cent. At the same time, despite the drop in wholesales, the company improved its free cash flow, supported by improvements in working capital as well as the sale of its stake in Lynk & Co. Volvo Cars also continued its path towards electrification and its fully electric sales share of 19 per cent in Q1 remained the highest among its premium legacy competitors. More details on the first quarter performance can be found in Volvo Cars' full financial report: Results Centre | Volvo Cars Looking ahead 2025 will be a challenging and transition year given the uncertainties around macroeconomic, geopolitical and market developments. As Volvo Cars enters into the year, it sees that tougher market conditions and lower volumes combined with increased price pressure and tariff effects are impacting profitability. The company's long-term strategy, foundations for growth and path to improved profitability remain, and the accelerated cost and cash action plan has also been launched in order to further protect those elements. But given external developments and increased uncertainties, Volvo Cars is no longer providing financial guidance for 2025 and 2026. In recent years, Volvo Cars has made strong progress in electrification and it was one of the fastest growing premium car companies in the world. The company aims to continue in that direction with the right cars, a competitive cost base and increased resilience, and will continue to build a stronger, more efficient and more valuable Volvo Cars. Note to editors Håkan Samuelsson and chief financial officer Fredrik Hansson will host a livestream on Volvo Cars' Q1 2025 results for media, investors and analysts at 08:00 CET today. The presentation will be held in English and followed by a Q&A session. Link for livestream: https://live.volvocars.com China-only link for livestream: https://live.volvocars.com.cn It will be possible to ask questions during the Q&A session following the main presentation. To participate, you can either use the chat function online to type your question or you can call in. To call in, participants need to register via the link below and will then receive the dial-in details and individual PIN. Link to register This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-04-2025 07:00 CET. For further information please contact: Volvo Cars Media Relations+46 31-59 65 25media@volvocars.com Volvo Cars Investor Relations+46 31-793 94 00investors@volvocars.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/volvo-car-ab--publ-/r/volvo-cars-reports-q1-2025-results--launches-sek-18-billion-cost-and-cash-action-plan,c4142195 The following files are available for download: https://mb.cision.com/Main/20685/4142195/3416901.pdf Volvo Cars Q1 report 2025 Eng https://news.cision.com/volvo-car-ab--publ-/i/es90-by-the-sea,c3403545 ES90 by the sea

SunCar Technology Reports 2024 Annual Results

NEW YORK, April 29, 2025 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based, software-focused B2B auto eInsurance and auto services in China, today reported annual financial results for the year ended December 31, 2024. Recent & Full Year 2024 Highlights Revenue for 2024 increased 21% to $441.9 million, compared to $363.7 million in 2023 Adjusted EBITDA for 2024 increased 492% to $9.8 million, compared to $1.6 million in 2023 Expanded collaboration with Tesla to 48 cities from an initial 6 at the start of the year Initiated an innovative partnership with Xiaomi to offer customized insurance products Secured a two-year agreement with SAIC Maxus, a leading commercial vehicle manufacturer, to enhance eInsurance management across its dealership network Increased our collaboration with auto dealers, initially with Chang'an Deepal. We embedded our insurance systems into its dealers to enable the sale of new products Signed an exclusive partnership with Sam's Club to offer car wash services for premium members across 17 major cities in China Established Anji AI Technology Service Center to co-develop insurance products with our auto partners and increase their new policies, renewals, and extended warranties sales. Developed AI-enhanced customer engagement features, reducing service response times, enhancing the cross-selling of insurance and non-insurance products, and increasing customer satisfaction. Management Commentary Zaichang Ye, Chairman and CEO of SunCar, commented, "I'm pleased with our strong 2024 results, including record revenue of $442 million and an almost 500% increase in adjusted EBITDA. These are significant milestones that reflect our business momentum. Our 100% focus on China's domestic auto market means we are largely unimpacted by geopolitical factors. This year, we have made important progress in advancing our AI cloud-enabled SaaS model, increasing our recurring revenue, and positioning SunCar for sustained and scalable growth. The continued focus of our EV partners on improving their customers' post-sale journey provides a long-term and meaningful tailwind for the business. Looking to 2025 and beyond, we remain focused on expanding our AI and software development capabilities, broadening our product offerings, and deepening our partnerships to deliver greater value for our customers and shareholders." eInsurance Review In Q4, 2024, we expanded the co-development of new insurance products with Tesla, as an early adopter, and received positive feedback from the customer. Initiated an innovative partnership with Xiaomi to begin the sale of customized auto insurance with their first vehicle delivery in April 2024 Progressed our eInsurance partnerships with leading EV manufacturers including Nio (NIO), Zeekr (ZK), Li Auto (LI), XPeng (XPEV), Seres (601127.SHH), Leapmotor (9863.HK), SAIC Motor (600104.SS), and Changan AVATR (000625.SHE). These collaborations have driven GMV growth beyond expectations. Advanced development of the SaaS business by securing a specific contract with Zeekr to develop and integrate our insurance platform into Zeekr's app ecosystem. Secured a two-year agreement with SAIC Maxus, a leading commercial vehicle manufacturer, to enhance eInsurance management across its dealership network. Increased collaboration with auto dealers: Starting with Chang'an Deepal dealers, we embedded our insurance systems into the dealer networks to enable the sale of new products. SunCar has hired four regional managers to support cooperation with the dealers. Actively engaged in discussions with multiple other gas vehicle manufacturers regarding the significant benefits our eInsurance platform offers to the traditional gas vehicle market Expanded our portfolio of insurance products by building customized, vehicle-specific insurance, including loaner vehicles and repair subsidies for various sales channels Auto Services Review Luxury Concierge Services' Expansion Provided high-end limousine services for leading luxury brands, including Chanel, Dior, and Omega, most notably supporting Chanel's 2024 Hangzhou Show by providing high-quality transportation services for its VIP guests. Secured an exclusive partnership with Sam's Club to offer car wash services for premium members across 17 major cities in China. Increased Cooperation with China's Major App Companies Renewed car wash service agreements with Didi, Meituan, and Alipay. Signed a new car wash partnership with Douyin. Enhanced Alipay collaboration: Expanded from offering "Car Life" channel discounts into the "Car God Card" program. Strategic partnership with Ant Fortune to launch exclusive airport limousine services for Ant Fortune Black Card V3 members, which target high-net-worth clients. New Projects and Expanded Services to Bank Customers Expanded long-standing auto services' partnerships with China's leading banks. In particular, the Company utilizes AI technology to improve the efficiency of its services' network and our Auto Services' operations in general Increased our extensive portfolio of 400+ bank-industry projects by adding 39 new projects, including card organizations. Key new projects include: National & Joint-Stock Banks: CITIC Private Banking - domestic/international airport transfers) ICBC Platinum/Black Card - airport transfers China Merchants Private Banking - domestic limousine services Bank of China Mastercard - airport transfers Bank of Communications - personal travel services Regional Bank Projects: Shanghai Rural Commercial Bank - retail travel services Mengshang Bank - designated driver services Agricultural Bank of China - car wash services Agricultural Bank of China - designated driver services CCB Dragon Card - car wash services ICBC - smart outbound calling Increased Auto Services Collaborations with Major Insurance Firms Partnered with over 100 insurance branches, including Ping An's top 10 P&C branches and 20+ branches of China Continent Insurance. Broadened service scope beyond traditional offerings to include limousine transfers and EV charging, aligning with evolving customer and market demands. Technology and Innovation Review Leveraged AI to improve operations and customer experience through innovative new product features, including real-time flight delay alerts, intelligent order reminders, driver and vehicle analytics, and call quality monitoring. Integrated AI features into our products that drove cost savings, operational efficiencies, and higher customer satisfaction. From an internal operations perspective, the extensive use of AI is improving the efficiency of our software development and testing processes. Through co-development projects, we are helping our EV customers cost-effectively build customized insurance solutions that capture downstream insurance and maintenance revenue. Management Update Appointed Breaux Walker as Chief Strategy Officer. With significant business development and investment banking experience in technology, Mr. Walker has successfully scaled companies in China and North America. He joined SunCar in 2024 as a consultant and drives our strategic growth initiatives. Full Year 2024 Financial Results Revenue increased by 21% to $441.9 million for the year ended December 31, 2024, from $363.7 million for the year ended December 31, 2023. Auto eInsurance revenue increased by 44% to $170.5 million for the year ended December 31, 2024, from $118.1 million for the year ended December 31, 2023. This growth was driven by the increased number of insurance policies sold in the year ended December 31, 2024. Technology Services revenue increased by 46% to $44.9 million for the year ended December 31, 2024, from $30.7 million for the year ended December 31, 2023. Auto Services revenue increased 5% to $226.5 million for the year ended December 31, 2024, from $215.0 million for the year ended December 31, 2023. Operating costs and expenses increased to $500.3 million for the year ended December 31, 2024, and $379.2 million for the year ending December 31, 2023. Integrated service costs increased to $226.2 million in 2024, from $209.6 million in the prior-year period. Selling expenses increased from $20.6 million in the year ended December 31, 2023, to $22.6 million in 2024. This increase was primarily due to an increase in promotion expenses of $5.3 million for market expansion, partially offset by a decrease of $2.3 million for compensation for part-time sales personnel and $1.2 million for depreciation of fixed assets. General and administrative expenses increased from $22.5 million in 2023 to $47.0 million in 2024. This increase was primarily due to a $31.0 million increase in share-based compensation expenses related to the 2024 Equity Incentive Plan and a $5.4 million increase in expected credit losses on account receivables. Research and development expenses increased from $14.1 million in 2023 to $40.2 million in 2024. The primary reason for the increase was a $31.0 million share-based compensation expense related to the 2024 Equity Incentive Plan. This one-time expense was partially offset by a decrease of $4.9 million in technology service fees due to reduced purchases of external services. Adjusted EBITDA, a non-GAAP metric that excludes certain non-recurring items and non-cash expenses, is helpful in evaluating our operational performance in addition to the GAAP metrics. Our Adjusted EBITDA increased by 492% to $9.8 million for the year ended December 31, 2024, compared to $1.6 million for the year ended December 31, 2023. Conference Call Information SunCar will host a conference call on Tuesday, April 29th at 8:00 AM ET (5:00 AM PT) for the investment community to discuss the Company's financial results and provide a business update. To access the call by phone, please dial 1-877-407-0752 (for international callers, please dial 1-201-389-0912) approximately 10 minutes prior to the start of the call. An audio webcast of the conference call will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1716706&tp_key=51381ecbeb. A webcast replay will also be available for a limited time at the following link: https://viavid.webcasts.com/starthere.jsp?ei=1716706&tp_key=51381ecbeb. About SunCar Technology Group Inc. Founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the auto eInsurance market for electric vehicles and the B2B auto services market. The Company's intelligent cloud platform empowers its enterprise customers to access, manage, and optimize their auto eInsurance and auto service offerings. Through SunCar, drivers gain access to a wide variety of high-quality services from tens of thousands of independent providers, all from a single application. For more information, please visit: https://suncartech.com. Forward-Looking Statements This press release contains information about the Company's view of its future expectations, plans, and prospects that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. For a detailed discussion of these risks, please refer to the Company's Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise these statements, except as required by law. Contact Information: SunCar:Investor Relations: Ms. Hui JiangEmail: IR@suncartech.com Legal: Ms. Li ChenEmail: chenli@suncartech.com U.S. Investor RelationsTom CookManaging DirectorICREmail: Tom.Cook@icrinc.com

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