1.SASAC Launches Strategic Emerging Industries Fund; Initial RMB 51 Billion Earmarked for AI and Other Key Sectors
On October 29, CCTV reported that the Central State-Owned Enterprise (SOE) Strategic Emerging Industries Development Fund was officially launched in Beijing. The fund was initiated by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council and is set up and managed by China Reform Holdings Corporation Ltd. The fund reaches RMB 51 billion at its initial stage, of which China Reform Holdings Corporation Ltd. plans to contribute approximately RMB 15 billion, aiming to accelerate the development of strategic emerging industries.
The fund's lifecycle is set for an investment period of 5 years (extendable by up to 2 years) and a management and exit period of 8 years, for a total term of up to 15 years. The fund will prioritize investments in strategic emerging sectors such as artificial intelligence, aerospace, high-end equipment, and quantum technology. It will also cover "future industries" in key areas like future energy, future information, and future manufacturing. Through this special fund, SASAC aims to promote the accelerated deployment and development of strategic emerging industries among central SOEs, address industry shortcomings and weaknesses, invest in cutting-edge innovation, and further enhance their core functions and competitive edge. As directed by SASAC, the fund will focus on serving national strategic needs, strengthening and completing industrial chains, and helping central SOEs achieve simultaneous growth in both the scale and quality of their new strategic industries.
According to a CCTV news report on October 29, China's first national pilot service platform for automotive chip standard validation has officially become operational in Shenzhen. The platform features 13 specialized laboratories, including labs for automotive-grade chip environment and reliability, failure analysis, information security, and performance testing. Equipped with over 80 sets of testing equipment, it is capable of conducting validation tests for more than 30 automotive chip standards.
According to Xia Xianzhao, chief expert at the China Automotive Technology and Research Center (CATARC), the platform is a national pilot validation hub that covers all 9 major and 81 minor categories of automotive chips, including those for intelligent driving, smart cockpits, security, and power. The platform will provide public inspection services for chips across all use cases, driving quality improvements for China's automotive chips. In the future, China will use this platform to develop standardized evaluation methods for automotive-grade chips, build a unified standard validation platform, and cultivate key common technologies for testing, aiming to contribute China's solutions for intelligent connected new energy vehicles to the global industry ecosystem.
3.CPCA: Passenger Car Retail Sales Reach 1.613 Million Units from Oct 1 to 26, Down 7% YoY
Data released by the China Passenger Car Association (CPCA) shows that from October 1 to 26, retail sales in China's passenger car market reached 1.613 million units. This represents a 7% decrease year-on-year (YoY) compared to the same period last October and a 4% decrease from the same period last month. Year-to-date (YTD) retail sales reached 18.621 million units, an 8% increase YoY. From October 1 to 26, the nationwide passenger car manufacturer wholesale volume stood at 1.871 million units, down 1% YoY and 5% from the same period last month. YTD wholesale volume reached 22.718 million units, a 12% increase YoY.
4.DFD: New Fluoropolymer Electrolyte for Solid-State Batteries Developed
On October 29, DFD stated on an interactive platform that the company has established a presence in the polymer/gel solid-state battery system segment. It has developed a new fluoropolymer electrolyte suitable for solid-state batteries. Leveraging the company's existing battery production lines, it already has the capacity for production and installations in vehicles. Furthermore, the silicon-carbon anodes produced by its subsidiary, Zhejiang Zhongning Silicon Industry Co., Ltd., offer advantages such as high energy density and good compatibility, making them suitable for use in solid-state batteries.
5.BYD New Car Registrations in Europe Grow Nearly Fourfold YoY in September
Data released by the European Automobile Manufacturers' Association (ACEA) on October 28 shows that BYD's new car registrations in the European Union grew by over 200% year-on-year in September, reaching 13,221 units. When including the UK and the European Free Trade Association (EFTA) countries (Iceland, Liechtenstein, Norway, and Switzerland), sales increased nearly fourfold, totaling 24,963 units.
6.XPeng Motors' 200,000th MONA M03 Rolls off Production Line
On October 29, XPeng Motors officially announced that the 200,000th unit of its MONA M03 model rolled off the production line within 14 months. Previously, the model had achieved consecutive monthly deliveries of over 10,000 units for the 12 months following its launch and held the title of the top-selling A-class all-electric sedan for 12 consecutive months. The MONA M03 was officially launched on August 27, 2024, offering 3 variants with prices ranging from RMB 119,800 to RMB 155,800. It is positioned as a RMB 150,000-level AI vehicle targeting young consumers. The vehicle is available in standard and Max versions, both coming standard with over 20 intelligent perception hardware components, including 2 millimeter-wave radars, 12 ultrasonic radars, and 7 cameras, equipping it with L2 autonomous driving capabilities.
7.Beijing Hyundai Launches First All-Electric SUV, Starting at RMB 119,800
autochat.com.cn - On October 29, Beijing Hyundai officially launched its first all-electric SUV, the EO. The new vehicle is available in 3 variants, priced between RMB 119,800 and RMB 149,800. The EO is built on Hyundai's Electric Global Modular Platform (E-GMP). Positioned as a compact all-electric SUV, it offers a maximum CLTC all-electric range of 722km and a peak power output of 160kW. In recent years, Beijing Hyundai's performance in the domestic market has been lackluster, facing continuous pressure from domestic auto startups, which has led to declining annual sales; it even skipped Auto Shanghai 2025. Meanwhile, competitive pressure from other joint-venture brands is also mounting as more of them launch NEVs tailored to Chinese consumer demands. Whether this all-electric model can be the "comeback product" for its NEV lineup remains to be seen.
8.BYD Unveils Its First All-Electric K-Car at Tokyo Motor Show
At Tokyo Motor Show 2025 on October 29, BYD unveiled its first all-electric K-car model, named the RACCO, which translates to "sea otter" in Chinese. According to reports, this model is specifically designed for the Japanese market and is scheduled to go on sale in Japan next summer. The new vehicle adopts the unique, simple, and boxy exterior styling of a Japanese K-car, featuring rear-row side sliding doors. Its dimensions are 3,395mm (L) / 1,475mm (W) / 1,800mm (H). Regarding range, it is expected to be equipped with a 20kWh battery pack, offering a WLTC range of 180km, and supports 100kW charging.
9.Toyota Debuts New-Generation Corolla Concept: Will Cover ICE, EV, and Hybrid Powertrains; Mass Production Expected in 2027
ithome.com, October 29 - The Toyota Corolla, which has surpassed 50 million cumulative sales, received a comprehensive next-generation upgrade at Japan Mobility Show 2025. Toyota promises the new-generation Corolla will "keep pace with the times," making breakthroughs in appearance and performance. The Toyota Corolla Concept exhibited supports "any powertrain," with all versions sharing the same exterior design and interior space. Toyota will continue to offer all-electric and hybrid models in select markets while also providing traditional internal combustion engine (ICE) vehicles in regions where EVs are less prevalent. The production version is expected to be launched in 2027.
ithome.com - On October 29, as the Japan Mobility Show was in full swing, the Mitsubishi Elevance Concept made its debut. Equipped with a PHEV system, it combines four-wheel drive (4WD) with advanced Super-All Wheel Control (S-AWC) technology and is designed specifically for off-road adventures.
11.GAC GOVY and Boundary.AI Sign Strategic Agreement on Flight Control Systems
According to GAC GOVY, on October 29, 2025, Guangdong GOVY Technology Co., Ltd. and Shenzhen Boundary.AI Technology Co., Ltd. formally signed a strategic cooperation agreement on the engineering and implementation of high-safety flight control systems for the low-altitude economy. This collaboration aims to accelerate the airworthiness certification and mass delivery of GOVY GAC-A6 autonomous passenger-carrying aircraft, scheduled for 2026.
According to the Stellantis’ official Weibo account, Stellantis recently announced a new collaboration with NVIDIA, Uber Technologies, Inc., and Foxconn. The partnership will explore the joint development and future global deployment of L4 (driverless) autonomous vehicles for the autonomous chauffeured car service business.
ithome.com - American electric vehicle manufacturer Lucid Group recently stated that the company is working toward a new goal: to become the first automaker to offer highly advanced autonomous driving features in its vehicles within the next few years. Lucid plans to adopt NVIDIA's "Drive AV" platform along with a multi-sensor suite, including cameras, radar, and lidar, to enhance the vehicle's perception of its surroundings and support its upcoming autonomous driving system.
14.FX Super One Launched in the Middle East
According to Faraday Future’s official Weibo account, on October 29, Faraday Future Intelligent Electric Inc., a global shared intelligent electric mobility ecosystem company headquartered in California, announced that Faraday X held its "FX Super One Middle East Launch Event" at the Burj Khalifa in Dubai, UAE. The event marked the debut and launch of the world's first "First Class EAI MPV", the FX Super One. Simultaneously, Faraday Future announced that football legend Andrés Iniesta has become the first global owner and Co-Creation Officer for the FX Super One.
