Automobiles

Jinbei Automobile Co., Ltd. has entered the implementation stage for its 2026 interim equity distribution, paying a cash dividend of 0.01 yuan per share before tax. Based on total share capital of 1,304,558,558 shares, the total cash dividend amounts to 13,045,585.58 yuan. The record date is October 12, 2026, and both the ex-dividend date and the cash dividend payment date are October 13. This is Jinbei Auto's second cash payout to shareholders in 2026, following the 2025 annual equity distribution implemented in May, which paid 0.023 yuan per share before tax, totaling 30,004,846.83 yuan. Combined, the company's cumulative cash dividends for the year are approximately 43.05 million yuan, equivalent to 0.033 yuan per share. Based on the closing price of 3.58 yuan on October 9, the corresponding dividend yield is about 0.92 percent, with this interim dividend alone corresponding to a yield of about 0.28 percent. Jinbei Auto listed on the Shanghai Stock Exchange in 1992 and had never paid a cash dividend for more than thirty years after listing, earning it the nickname of a rare iron rooster among A-share companies. The turning point came in 2025, when the company used surplus reserves and capital reserves to make up accumulated losses, clearing the legal obstacles to dividends, and proposed a dividend plan for the first time in its 2025 annual report. In the first half of 2026, the company achieved operating revenue of 2.349 billion yuan, up about 10.2 percent year on year, while net profit attributable to shareholders of the listed company was 92.91 million yuan, down about 9.7 percent year on year. This interim dividend of 13.05 million yuan accounts for 14.04 percent of first-half net profit attributable to the parent company. The company's operating structure still has hidden concerns. The 2025 annual report shows that sales to the top five customers accounted for 90.23 percent of total revenue, of which sales to BMW Brilliance accounted for 83.78 percent, indicating extremely high customer concentration. From a market-wide perspective, Jinbei Auto is a microcosm of the expanding interim dividend ranks in the A-share market. The number of companies paying interim dividends in 2026 has hit another record high, with total proposed cash payouts exceeding 700 billion yuan.

Tesla delivered 95,366 China-made electric vehicles in September, a 5% increase from 90,812 vehicles a year earlier that extended its year-over-year growth streak to 11 consecutive months. The Shanghai factory shipped Model 3 and Model Y vehicles to China, Europe, Asia-Pacific and Canada during the month, according to Reuters, citing the China Passenger Car Association. Third-quarter deliveries from Shanghai rose 13.7%, even as Tesla's worldwide deliveries fell 2.1% from the record-setting quarter last year. To support demand in China, Tesla is offering promotions through October, with selected Model Y versions qualifying for a 7,000-yuan reduction on final payments and every Model 3 variant receiving 5,000 yuan off. The gains come amid intensifying competition in China, where Tesla's retail sales fell 12.4% year-over-year in August to 50,047 units, its weakest August since 2022, leaving it ranked fifth behind market leader BYD with 233,943 units.

Chinese auto giant Geely Auto announced on the 9th that it will begin selling vehicles in Canada in 2027. Although Canada's market is smaller than that of the United States, Chinese manufacturers are showing interest in expanding their operations in Canada with an eye toward future entry into the U.S. market. The company did not disclose details such as the models it will sell in Canada or their price ranges, but said it is moving forward with establishing a local subsidiary and building a sales and service network. Geely Auto, a company under Zhejiang Geely Holding Group, operates brands including the mass-market Geely and the premium Zeekr, and is working to expand sales channels for electric and other electrified vehicles overseas, including in Europe.

Tesla has renamed its advanced driver assistance system in Europe to "Tesla Assisted Driving," dropping the "Full Self-Driving (Supervised)" branding after pushback from Germany's transportation ministry. Germany's transport minister, Steffen Bilger, said earlier this month that calling the software "Full Self-Driving" was somewhat misleading because it does not perform the entire task of driving, and after speaking with Tesla last month the company itself suggested the name change, according to an official release from the ministry. Bilger said he will now advocate for approval of Tesla Assisted Driving across Europe ahead of an EU-wide vote that could happen later this year, and Tesla CEO Elon Musk thanked him on X this week. The change marks a significant capitulation for Tesla, which had used the Full Self-Driving (Supervised) name for years even though the system requires humans to pay attention to the road and take over when necessary, and it could help the company achieve wider adoption on the continent and unlock a potentially massive new revenue stream. The rebrand follows a Reuters report on Wednesday that Tesla's campaign for European approval was built on faulty company safety research and flawed studies, and that the Dutch vehicle safety regulator, RDW, faced fierce pressure from Tesla and its online supporters; the Netherlands became the first European country to approve FSD (Supervised) in March. FSD has also been at the center of federal investigations and civil lawsuits over crashes in which it was allegedly in use, and Tesla discontinued its less capable predecessor, Autopilot, earlier this year after a judge ruled the company had engaged in deceptive marketing about the system's capabilities.

Stellantis CEO Antonio Filosa said Friday that the automaker's partnership with British startup Wayve could reduce development times and costs for advanced driver-assistance systems. Speaking alongside Wayve CEO Alex Kendall at the Wave technology event in Turin, Filosa said scale would be crucial to making hands-free driving affordable and speeding up adoption, pointing to level 2++ driving assistance technology that allows hands-off driving while still requiring driver supervision. He said cutting development timelines, currently around 24 months for Stellantis, was a key benefit of working with technology partners. Stellantis announced the partnership with Wayve in May to integrate the startup's AI-powered driving software into its STLA AutoDrive platform, with the first product launch targeted for 2028 in North America. Kendall said Stellantis' portfolio of brands, including Jeep, Fiat, Peugeot and Maserati, offered an opportunity to tailor autonomous driving characteristics across different vehicles while using the same underlying AI system, and at the Turin event the two companies demonstrated hands-free driving in Fiat 500e and Maserati Grecale development vehicles.

Honda will receive OEM supply of the Triton pickup truck, produced by Mitsubishi Motors at its factory in Thailand, it was learned on the 9th. Honda aims to begin sales in Southeast Asia as early as 2028, strengthening ties among three companies that include Nissan Motor, with which collaboration talks are underway. The Triton is one of Mitsubishi Motors' flagship models, known for its rugged build suited to rough roads and popular in emerging markets. Honda faces the challenge of reviving sales in the Southeast Asian market but does not have a pickup truck for that market, so by receiving OEM supply it hopes to expand its lineup while holding down development and production costs. For Mitsubishi Motors, the arrangement offers the advantage of raising the utilization rate of its Thai factory.

Honda will receive OEM supply of the pickup truck Triton, produced by Mitsubishi Motors at its Thai factory, it was learned on the 9th. Sales are set to begin in Southeast Asia as early as 2028, aiming to strengthen ties among three companies including Nissan Motor, with which collaboration talks are underway. The Triton is one of Mitsubishi Motors' flagship models, featuring rugged construction suited to rough roads, and is popular in emerging markets. Honda faces the challenge of recovering sales in the Southeast Asian market, but since it does not have a pickup truck for that market, it aims to expand its lineup while curbing development and production costs by receiving OEM supply. For Mitsubishi Motors, there is the advantage of raising the utilization rate of its Thai factory.

Slovakia is expected to approve Tesla's Full Self-Driving system, potentially making it the ninth European Union country to authorize the driver-assistance technology, according to Reuters. Transport Minister Jozef Raz said Slovakia would formally communicate its decision to the Netherlands, where the vehicle regulator RDW cleared Tesla's system earlier this year and acts as the primary regulatory authority for FSD in Europe. Raz said the decision was supported by data indicating lower accident rates, while emphasizing that drivers would remain responsible for their vehicles, and once the letter is delivered FSD would become available for use in Slovakia. The expected approval follows authorizations in countries including Belgium, Croatia, the Czech Republic, Slovenia, the Netherlands, Denmark and Estonia, and an EU-wide vote could take place as soon as December, potentially opening the door to broader deployment across the region. Wider FSD adoption could support software monetization through paid subscriptions and expand Tesla's addressable customer base, though competition is intensifying from General Motors' Super Cruise and Rivian's Autonomy+.

Tesla has secured an order for 50 all-electric Semi trucks from IMC Logistics, expanding its presence in the heavy-duty trucking market. The deal adds to growing commercial interest in Tesla's electric trucks as the company ramps up production and diversifies beyond passenger vehicles. The order follows Einride's planned deployment of 500 Tesla Semis, WattEV's order for 370 trucks and the ZET SCALE alliance's initial order for 2,500 electric Class 8 trucks, with Tesla selected as the primary manufacturer, though PACCAR's Kenworth and Volvo Group's Volvo are also on the supplier list. According to FreightWaves, the alliance, backed by shippers including Microsoft and PepsiCo, aims to expand its program to at least 10,000 trucks, and IMC will deploy its trucks for port drayage and freight routes connecting Southern California with inland destinations. Tesla's new Semi factory in Nevada opened in the last week of September, a 1.7-million-square-foot facility built to produce up to 50,000 trucks a year. The 50-truck order is unlikely to materially affect near-term revenue, and longer-term growth will depend on delivery execution, cost control and competitive operating economics.

Slovakia is expected to approve Tesla's advanced driver-assistance system, Full Self-Driving, within days. Transport Minister Jozef Ráž announced this in a video posted on LinkedIn on the afternoon of the 7th, making the country the ninth European Union member state to permit FSD. Ráž said data shows that vehicles equipped with FSD have a lower accident rate, which is exactly what we are aiming for. According to Ráž, Slovakia's Transport Ministry plans to send an approval notification to the Netherlands, and the Netherlands Vehicle Authority, known as RDW, approved FSD this year and plays a leading role in the approval process in Europe. Ráž urged citizens that once this notification is delivered, FSD will become available in our country as well, but they must not forget that the driver is still you, and responsibility for the car remains yours. Among EU member states, the Czech Republic, Slovenia, Denmark and others have also approved the use of FSD this year, and an EU-wide vote on whether to allow FSD could take place as early as December.

Deere and Yamaha Motor announced a collaboration to develop future Side by Side vehicles, pairing Deere's equipment expertise with Yamaha's powersports capabilities. The partners aim to co-develop new utility and recreational Side by Side models that could expand Deere's off-road vehicle lineup for rural and commercial users. At the same time, the Federal Trade Commission and US Department of Agriculture have increased scrutiny of the farm equipment market and Deere's role in it. Deere, a US machinery manufacturer with a market value of about $177.1b, builds and distributes equipment used across agriculture and other heavy industries worldwide. The company's next detailed update on Production & Precision Ag and Construction & Forestry in its fiscal 2027 commentary is a key checkpoint, particularly any quantified impact from the FTC and USDA inquiry or explicit Side by Side product timing and investment levels.

Toyota Motor announced on the 8th that it has signed a strategic partnership agreement with two major state-owned automakers with which it operates joint ventures in China, establishing a new three-company framework. Toyota currently runs separate joint ventures with China FAW Group and Guangzhou Automobile Group, but will restructure its equity arrangements. Under the restructuring, FAW's 50 percent stake in FAW Toyota is to be acquired by GAC, placing both joint ventures under GAC's umbrella and strengthening collaboration in research and development, procurement, production, and sales. FAW Toyota was established in 2000 and GAC Toyota in 2004; the move reviews a joint venture business in China spanning roughly a quarter century and aims to boost cost competitiveness. The signing ceremony for the new agreement was held in Guangzhou, China, on the 8th, with Toyota President Kenta Kon in attendance.

BYD said on its investor interaction platform on October 9 that current orders for flash-charging models are strong, and the company's top priority is to accelerate the capacity ramp-up of its second-generation Blade Battery, fully improve delivery capability, and safeguard consumers' car-buying experience. The company said product pricing is considered holistically across multiple factors including market competition, user demand, long-term brand strategy, and the pace of capacity release, and that product-related price information is subject to official announcements.

BYD said on its investor interaction platform on October 9 that orders for its flash-charging models are currently strong, and the company's top priority is to accelerate the capacity ramp-up of its second-generation Blade battery and fully improve delivery capability to safeguard the car-buying experience for consumers. The company said product pricing is considered comprehensively based on multiple factors including market competition, user demand, long-term brand strategy, and the pace of capacity release. For product price information, please refer to official announcements.

Toyota Motor announced on the 8th that it has signed a strategic partnership agreement with two major state-owned automakers with which it operates joint ventures in China, establishing a new three-company framework. Toyota currently runs separate joint ventures with China FAW Group and Guangzhou Automobile Group, but will restructure its equity arrangements. Under the restructuring, FAW's 50 percent stake in FAW Toyota is to be acquired by GAC, placing both joint ventures under GAC's umbrella as the companies strengthen coordination in research and development, procurement, production, and sales. FAW Toyota was established in 2000 and GAC Toyota in 2004, and the move reviews a joint venture business in China spanning roughly a quarter century to boost cost competitiveness. The signing ceremony for the new agreement was held in Guangzhou, China, on the 8th, with Toyota President Kenta Kon in attendance.

Tesla delivered 486,532 vehicles in the third quarter, comfortably above company-compiled consensus of 461,974 and down only 2% from a year earlier, strengthening the case that the company could return to annual delivery growth after two years of declines. The automotive recovery still matters because cars remain Tesla's largest revenue source, with European registrations up 43% during the first eight months of 2026, helping offset weaker U.S. demand following the loss of the $7,500 federal EV tax credit. Tesla's Q2 numbers showed why volume alone is insufficient: revenue reached $28.24 billion, but gross margin fell to 16.8% from 17.2%, while free cash flow turned negative by $1.1 billion and capital expenditures jumped 142% to $5.79 billion as Tesla funded AI infrastructure, robotaxis, and next-generation manufacturing. Tesla recently secured $30 billion of new credit facilities and expects 2026 capital spending above $25 billion, although the facilities were undrawn and the company did not plan to use them in 2026. Goldman Sachs kept a Neutral rating and $360 target on October 6, arguing that Tesla's physical-AI businesses, including robotaxis, FSD, and humanoids, will matter more for the stock than Q3 EPS, while consensus P/E falls from 217.93 times estimated 2026 earnings to 176.66 times in 2027 and 117.20 times in 2028 before dropping to 58.28 times in 2029.

Stellantis is allocating $1.16 billion to capacity improvements across its European manufacturing operations, a sub-component of its broader €60 billion five-year strategic investment program, as it pursues roughly €6 billion in annual cost savings by 2028. The spending will cover research and development capabilities and manufacturing processes currently outsourced, supporting the company's multi-energy roadmap across electric and hybrid segments. Stellantis is also negotiating with China's JAC Group and Huawei for a long-term industrial collaboration around the Maserati brand, potentially developing a vehicle branded as Maserati internationally and Maextro in China, with plans for an extended-range Jeep Grand Wagoneer followed by a Ram 1500 REV. The automaker's shares have fallen almost 60% year-to-date in 2026, with a market capitalization of approximately $13.4 billion as of October 7 and a forward P/E ratio of approximately 5.19x, while it generated €1 billion in positive industrial free cash flow in Q2 2026 even as cash flow remained negative for the first half. Hedge fund holdings in the stock fell to 26 by the end of the second quarter of 2026 from 32 in the previous quarter, with Bpifrance SA the largest institutional investor at 192.7 million shares, or 6.10% of outstanding shares.

Tesla and SpaceX have committed an initial $16.8 billion to Terafab, Elon Musk's plan to build one of the world's largest chip-making complexes in Grimes County, Texas, covering more than 100 million square feet and expected to start manufacturing chips by 2029. Intel Corp. joined the project in April, committing to design, make and package chips, and Musk has said the plant will use Intel's next-generation 14A process, a significant boost for an Intel foundry business that lost more than $10 billion at the operating level in 2025. Musk shut down speculation that Taiwan Semiconductor would help run the Texas plants, writing on X that Tesla and SpaceX will build and run the fab themselves, with TSMC at most given leased space inside the complex. The vertically integrated facility is designed to handle chip manufacturing, packaging and testing under one roof, with chips mostly built for edge computing and inference to power Tesla's Optimus robots and Cybercabs along with high-performance processors for SpaceX's planned space-based data centers. Investors positioned for the buildout could look to chip equipment makers such as ASML Holding, Applied Materials, Lam Research and KLA Corp, packaging and testing players including Amkor Technology, ASE Technology and Teradyne, materials and utilities suppliers such as Linde and Entegris, power and electrical infrastructure names including Eaton, Vertiv, Quanta Services and GE Vernova, or semiconductor ETFs such as the VanEck Semiconductor ETF and iShares Semiconductor ETF.

XPENG has officially named its Robotaxi brand XPENG YOYO and opened autonomous driving online registration to the public in China through invitation codes, with a dedicated page live on the company's official website. XPENG Robotaxi is China's first fully in-house developed Robotaxi to achieve pre-loaded mass production, and the company said the move marks the transition from technical validation into a new stage of marketization and industrialization. Each vehicle carries four in-house Turing AI chips delivering 3,000 TOPS, which XPENG calls the world's highest in-vehicle compute, and runs on its VLA2.0 large model without HD maps or LiDAR. The English name was chosen for global brand recognition, and Chairman and CEO He Xiaopeng said XPENG positions its Robotaxi as a technology provider and ecosystem enabler, generating revenue through hardware sales, services, and commission sharing while entrusting offline operations to global partners. In May 2026 the mass-produced Robotaxi rolled off the production line in Guangzhou, in July it completed the full chain from online ride-hailing to automated pickup and drop-off, and in August XPENG obtained Guangzhou's remote testing qualification for intelligent connected vehicles on Class I, II, and III test roads. XPENG had previously launched paid internal testing at just 1 renminbi per ride to validate the payment process and service workflow.

Nissan Motor announced on the 8th that it will roll out its pickup truck "Frontier Pro," produced at its Chinese joint venture, to markets in Mexico, the Philippines, the Middle East, and Latin America excluding Mexico on a phased basis between this month and the end of the year. In 2027, it will also launch the model in Australia and New Zealand as the "Navara Pro." The model is designed, developed, and produced by the joint venture Zhengzhou Nissan Automobile, making it the company's first model developed and manufactured in China for export to global markets. The aim is to strengthen its global product lineup while reflecting the needs of each market in product development, and starting with this model, the company said it will leverage China's strengths to offer highly competitive products in each market.

Tesla reported third-quarter 2026 output of over 464,000 vehicles, deliveries above 486,000, and 13.7 GWh of deployed energy storage, while arranging US$30.00 billion in new unsecured credit facilities and term loans. Elon Musk confirmed that Tesla and SpaceX will build and operate the Terafab AI chip complex in Texas, with technology support from Intel, tightening in-house control of advanced semiconductors for Tesla's robotics, autonomy, and energy ambitions. The move raises the stakes for returns on the US$25,000,000,000 plus in planned 2026 capex. Tesla's narrative projects $165.9 billion revenue and $14.4 billion earnings by 2029, requiring 17.0% yearly revenue growth and a $10.6 billion earnings increase from $3.8 billion today, with a $395.57 fair value implying 5% upside. Some of the lowest ranked analysts assume only 7.7 percent annual revenue growth and US$4,400,000,000 in 2029 earnings.

Seres announced that as of September 30, 2026, the company had repurchased a total of 15.6757 million shares through centralized bidding, accounting for 0.90% of its total share capital. The repurchase amount was 897 million yuan, with prices ranging from 43.99 yuan to 91.00 yuan per share.

Seres issued an announcement on October 8 disclosing the latest progress of its share buyback. As of September 30, 2026, the company had repurchased a total of 15.6757 million shares through centralized bidding, accounting for 0.90% of its total share capital. The cumulative buyback amount was 897 million yuan, with repurchase prices ranging from 43.99 yuan to 91.00 yuan per share.

Jiangling Motors announced on October 8 that September 2026 production was 35,200 units, down 0.95% year-on-year, while sales were 35,200 units, up 2.15% year-on-year. Cumulative production for the year reached 290,000 units, up 8.49% year-on-year, and cumulative sales reached 290,000 units, up 9.32% year-on-year. In the first half of 2026, Jiangling Motors posted revenue of 19.362 billion yuan and net profit attributable to the parent of 739 million yuan.

IMC Logistics is adding 50 Tesla Semis to its California fleet, placing Standard Range models in port drayage and Long Range models on lanes between Southern California and inland destinations. The intermodal drayage provider announced the order in a release on Sept. 22, but did not disclose how many of each model it ordered or when all 50 trucks will enter service. Jim Gillis, Pacific Region president at IMC Logistics, said the addition strengthens the company's blended approach to sustainability and allows IMC to establish zero-emission service for long haul lanes. The Standard Range Semi is rated for 325 miles and the Long Range for 500 miles at 82,000 pounds fully loaded, according to Tesla specifications announced at the Semi factory in Sparks, Nev., a 1.7 million-square-foot plant designed to build 50,000 trucks a year. The order comes amid growing Tesla Semi demand for drayage, after WattEV ordered 370 Tesla Semis in May and Tesla was named primary manufacturer on a 2,500-truck electric order through ZET SCALE in September. IMC already runs battery-electric, hydrogen fuel-cell and renewable-diesel trucks in California, including 50 Nikola hydrogen fuel-cell trucks bought in March 2024, and aims to replace all of its diesel tractors in California by 2028.

German Transport Minister Birger is advocating for rapid European Union approval of Tesla's driver-assistance system, Full Self-Driving. In a statement on the 6th, Birger said the move followed talks with Tesla last month on numerous technical details and liability issues, and Tesla Chief Executive Officer Elon Musk posted "thank you" in German on X on the 7th, welcoming the German government's support. As part of the talks, Germany agreed with Tesla that Full Self-Driving may exceed the speed limit by up to 10 percent, and Germany plans to support this approach in the European approval process, where speeding is one of the main points of contention. Meanwhile, traffic safety experts and some regulators argue that the speed offset function Tesla uses should be removed before approval in Europe. Birger also revealed that Tesla proposed changing the system's name to "Tesla Assist Driving" to address concerns that the name is somewhat misleading. Full Self-Driving has already been approved in parts of Europe including the Netherlands and Belgium, but several EU member states, including Sweden and France, have expressed concerns about exceeding speed limits, and an EU vote scheduled for October was postponed until at least December while some countries conduct additional testing.