Everyone talks about Tesla and BYD. But if you measure by "number of vehicles," the biggest, quietest, and most genuinely profitable EV revolution is the story of two wheels — electric scooters and motorbikes in Asia. They outsell electric cars several times over, they're cheap, they pay for themselves fast, and they're the most electrified segment in the world. This lesson is about a revolution the West has almost entirely overlooked.
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Ninebot repurchases 220 million yuan of depositary receipts this year, first-half net profit exceeds 1 billion yuan
Ninebot announced that as of August 31, 2026, the company had repurchased a cumulative 5.7116 million depositary receipts, accounting for 0.78% of the total, with a total payment of about 220 million yuan. The buyback plan was approved in June 2026, with total funds of no less than 150 million yuan and no more than 300 million yuan. The repurchase price ceiling was adjusted to no more than 58.78 yuan per receipt due to equity distribution, and all repurchased shares will be cancelled. In the first half of 2026, the company achieved operating revenue of 14.358 billion yuan and net profit attributable to the parent of 1.008 billion yuan. Revenue from software service fees for electric two-wheelers reached 108 million yuan, and the company is boosting membership penetration through a 66 yuan per year VIP value-added service. In overseas business, two eBike models for the US market, Myon and MUXI, have gone on sale, and the global eBike market has exceeded 100 billion yuan. In addition, the Zhuhai manufacturing base is scheduled to begin production in 2027, and the first electric vehicle has already rolled off the line. Since its listing, the company has returned about 2.7 billion yuan to shareholders, including about 2.2 billion yuan in dividends and about 500 million yuan in buybacks.
Transport Ministry Proposes 30 Billion Baht Loan for Public EV Transition
The Ministry of Transport has proposed to the committee vetting the use of loans under the emergency decree authorizing 200 billion baht in borrowing, requesting budget allocation for two projects totaling approximately 30 billion baht. These include the DLT Support Phase 2 project, worth 6 billion baht, to assist transport operators with fuel costs, and the project to transition seven groups of public vehicles to electric, hybrid, or biodiesel-compatible vehicles such as B20, worth 24 billion baht. This covers taxis, public motorcycles, tricycle taxis, regular and non-regular buses, school buses, and freight trucks. Deputy Transport Minister Siripong Angkhasakulkiat said that if approved, the DLT Phase 2 project could proceed immediately, while the energy transition project is expected to start as early as October 2026. However, if not supported, it may be proposed as a phased plan in the 2028 budget.
Taotao Vehicles' first-half net profit attributable to parent rises 57.94% year on year
Taotao Vehicles released its 2026 semi-annual report, with first-half revenue of 2.751 billion yuan, up 60.56% year on year, and net profit attributable to the parent of 540 million yuan, up 57.94% year on year. Among these, the electric mobility business achieved sales revenue of 2.109 billion yuan, up 83.08% year on year, becoming the main growth engine; the powersports business achieved sales revenue of 532 million yuan, up 8.62% year on year. The company said the strong performance was driven by the release of localized production capacity in North America, product iteration, and technology research and development. Currently, three production lines for low-speed electric vehicles at its U.S. plant are in stable operation, and a fourth production line is being prepared as needed. In addition, the company is laying out generator set integration and supporting services, offering power solutions to customers such as data centers in North America.
Gosuncn's first-half net profit rises 24.87% year on year, with vehicle-mounted business becoming the main growth engine
Gosuncn released its 2026 semi-annual report on the evening of August 28. In the first half of the year, it achieved operating revenue of 966 million yuan, up 7.76% year on year, and net profit attributable to the parent company of 32.83 million yuan, up 24.87% year on year. The vehicle-mounted terminal business was the main source of revenue growth, with first-half revenue of 508 million yuan and a compound growth rate of more than 50% over the past three years. Among this, shipments of T-box products exceeded 550,000 units, up 25%, overseas shipments surpassed 100,000 units, and the company secured 23 new project designations in China, as well as a new designation from the globally renowned Tier 1 supplier Harman. Overseas business grew rapidly, with first-half overseas revenue of 207 million yuan, up 35.93%, and its share of total revenue rose to 21%. In addition, the digital license plate business for electric bicycles saw a market breakout, with the company winning related projects worth more than 55 million yuan, accounting for over 50% of the public tender market share, and expanding its business to more than 40 cities nationwide. The company's net cash flow from operating activities reached 119 million yuan, up 313.41% year on year.
China BAK Battery Reports Strong Growth, India Order, AI Backup Push
China BAK Battery, operating as CBAK Energy, reported fiscal 2025 revenue of $195 million and first-quarter 2026 revenue of $69.62 million, up 99% year over year, while highlighting a $96 million quarterly battery-cell order from an Indian two- and three-wheeler maker and its push into AI data center backup power. The company operates 8.3 GWh of capacity, with its Nanjing facility targeting 20 GWh and a 3-GWh Southeast Asia plant planned for 2028. Shipments of its 32140 cells reached 32 million units in the first seven months of 2026, up 101% from the prior-year period. CBAK's 26650 lithium iron phosphate cell is undergoing testing with multiple Tier 1 customers and certification efforts in the U.S. and Europe, but management said no definitive supply agreements or purchase orders have been secured from AI data center operators. The company also clarified that its $500 million shelf registration was a replacement filing following its redomiciliation to the Cayman Islands, with no near-term dilutive actions planned.
Transport Ministry Pushes 7 Public Vehicle Groups to EV to Cut Oil Imports
Deputy Transport Minister Siripong Angskulkiat told the House of Representatives on August 26, 2026, about the project to support the conversion of public vehicles to electric vehicles under the 400 billion baht emergency loan decree, aiming to reduce oil dependence and ease people's expenses. The project covers 7 vehicle groups: 29,905 taxis and e-hailing vehicles, 68,491 public motorcycles, 15,834 tuk-tuks, 12,976 buses, 11,105 non-regular route buses, 4,829 school buses, and 497,134 trucks, excluding BMTA vehicles, which have been allocated a regular budget for 1,520 new buses. The first batch is expected to be delivered in March 2027. If 50% participation is achieved, or 81,567 vehicles, it would reduce carbon dioxide by 244,015 tons per year and cut oil use by 212 million liters per year. However, the project is still awaiting a Constitutional Court ruling and has not yet started.
Dun'an Environment released its 2026 semi-annual report on the evening of August 26. In the first half, it achieved operating revenue of 7.231 billion yuan, up 7.45% year on year, while net cash flow from operating activities reached 547 million yuan, surging 71.12% year on year. Against a backdrop of pressure on the traditional household air-conditioning industry, the company's three major business segments showed a pattern of one stable and multiple growing areas. Revenue from the refrigeration and air-conditioning components segment was 5.306 billion yuan, a slight decline of 1.96% year on year, but within it, revenue from data-center cooling component products rose more than 40% year on year, stainless steel product orders were sufficient, and some products grew more than 100% year on year. Revenue from the refrigeration equipment segment was 652 million yuan, surging 35.03% year on year, benefiting from demand in emerging sectors such as semiconductors, nuclear power, and energy storage. Revenue from the new energy vehicle thermal management segment was 606 million yuan, up 25.89% year on year, with more than 120 new project nominations including electronic expansion valves and nearly 20 passenger vehicle water-side pump project nominations. The company's R&D investment reached 252 million yuan, and its quality loss rate improved 25% year on year, as it evolves from a traditional refrigeration components leader into a diversified thermal management platform enterprise.
Bafang Electric's first-half net profit reaches 107 million yuan, up 233.27% year on year
Bafang Electric disclosed its semi-annual report on August 27. In the first half of 2026, it achieved operating revenue of 861 million yuan, up 33.81% year on year. Net profit attributable to shareholders of the listed company was 107 million yuan, up 233.27% year on year. Basic earnings per share were 0.46 yuan. During the reporting period, benefiting from European end-market inventory returning to normal levels and recovering consumer demand, the company's main e-bike drive system business grew significantly. Revenue from e-bike motors was about 423 million yuan, up 62.5% year on year, while revenue from kit products was about 176 million yuan, up 22.22% year on year. In addition, the battery product line turned from loss to profit, contributing to net profit for the period.
Marti Reports First Positive Adjusted EBITDA, Raises 2026 Guidance
Marti Technologies reported second-quarter 2026 revenue of nearly $20 million, up 141% year-over-year, and achieved positive adjusted EBITDA of $2.9 million for the first time, a $5.3 million improvement from the prior year quarter. Gross profit margin expanded to a record 77%, and the company raised its full-year 2026 guidance to $85 million in revenue and $7 million in adjusted EBITDA. The company, which operates in 30 cities representing about 85% of Türkiye's GDP, saw trips increase 73% to 18.8 million and unique platform consumers grow 76% to 2.4 million. Marti also announced a multiyear partnership with Tensor to deploy autonomous vehicles and is building Türkiye's Autonomous Vehicle Alliance. The company's net loss was $12.5 million, including a one-time noncash loss on debt extinguishment of $8.3 million.
Langjin Technology's first-half revenue hits 321 million yuan, driven by international expansion and new growth areas
Langjin Technology achieved operating revenue of 321 million yuan in the first half of 2026, supported by its dual-engine strategy of rail transit and new energy. Its international footprint continued to deepen, while new growth areas such as the low-altitude economy and energy storage thermal management accelerated. In the rail transit segment, the company won new contracts for the Grenoble tram project in France and additional orders in Rome, and now has 1,100 units operating across eight overseas cities. It also secured maintenance service orders in five key Chinese cities: Fuzhou, Suzhou, Xi'an, Nanning, and Beijing. In new energy thermal management, the company passed BYD's standard configuration supplier audit for buses and expanded its standard-fit share with manufacturers including CRRC Electric Vehicle, FAW Bus, and Geely Commercial Vehicles. In the low-altitude economy sector, it partnered with leading manufacturers to complete heat pump air conditioning system development for the Volant VE25-100 and COMAC CE25A electric aircraft, and obtained AS9100D aerospace system certification. Cumulative shipments in energy storage thermal management exceeded 80 gigawatt-hours, with innovative products such as an all-in-one integrated liquid cooling unit launched. In addition, the company developed a full range of intelligent variable-frequency heat pump drying products and is advancing intelligent operation and maintenance projects across multiple metro lines.
ASEAN EV startups raise 622 million dollars, Singapore leads the pack
Electric vehicle startups in Southeast Asia have raised a combined 622 million US dollars since 2016, with Singapore serving as the key hub in both company count and investment. A report from Tracxn says the figure covers 16 startups in Singapore, Indonesia, Vietnam, and Thailand, each of which must have raised at least 5 million US dollars cumulatively. Singapore has the most companies on the list at 8, raising about 387 million US dollars, or roughly 62 percent of the total. Indonesia raised 165 million US dollars, Vietnam 56 million US dollars, and Thailand 14 million US dollars. Singapore's Beam Mobility raised the most at 135 million US dollars, followed by SingAuto at 95 million US dollars and Neuron Mobility at 78 million US dollars. These three companies together account for nearly half of all funding among the 16 companies.
YADEA and J&T Express Philippines Sign Strategic Electric Delivery Agreement
Yadea Philippines and J&T Express have announced a strategic partnership to accelerate electric vehicle adoption in the Philippine logistics sector, starting with a pilot of 1,000 electric delivery tricycles in Manila before nationwide expansion. Yadea, the world's top-selling electric two-wheeler brand for nine consecutive years, will supply its ST13 electric delivery tricycle designed for high-frequency urban dispatch, featuring a weight-reducing mesh cargo box and puncture-resistant tires. The collaboration aims to integrate electric vehicles into J&T Express's last-mile operations, with both companies citing improved delivery efficiency and a shared commitment to low-carbon urban logistics.
Greenworks Launches Greenworks Power Strategy, Marking a Leap Toward a New Energy Ecosystem Platform
Greenworks unveiled its new strategic expression, Greenworks Power, at its U.S. dealer conference, with "Powering the Future" as the core proposition, marking the company's strategic leap from a single tool manufacturer to a new energy ecosystem platform. The conference focused on the 24V PowerAll Pro platform for professional users, which is built around two core categories, power tools and outdoor power equipment, creating a unified battery ecosystem covering more than 200 products. Multiple major new products were showcased, including the all-new MAXIMUS riding mower lineup, the AiMowbot intelligent robotic mower, the all-electric Optimus UTV, and the Optimus CUBE energy solution. Greenworks has established three major R&D centers in Changzhou, China, Shenzhen, and the United States, with an in-house development rate of over 80 percent for key components, and has connected more than 1,500 SKUs through its "one battery, multiple uses" battery platform, serving over 50 million users worldwide.
ALSO, a Palo Alto-based technology company building driven and autonomous small electric vehicles, has closed a $150 million Series D financing round led by Prysm Capital, with participation from Eclipse, Greenoaks and MVP Ventures. The new capital will support accelerating the development of ALSO's autonomous vehicle platform and the simultaneous progression of multiple autonomous form factors for moving goods and passengers across urban environments. The company's TM-B Launch Edition electric bike is beginning to ship to customers across the U.S., and pre-order and configuration access recently opened for TM-B Performance and Standard models with initial deliveries beginning this fall. Earlier this year, ALSO closed a $200 million Series C financing round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash, alongside a multi-year commercial agreement to collaboratively develop and deploy autonomous delivery vehicles at scale.
AGE posts 27% Q2 profit growth, presses ahead with coal and EV expansion
Asia Green Energy Public Company Limited, or AGE, reported second-quarter results for fiscal 2026 with total revenue of 4.935 billion baht, up 53 percent from the previous quarter and up 23 percent from a year earlier. Profit attributable to the parent company was 134 million baht, up 31 percent from the previous quarter and up 27 percent from a year earlier. For the first six months of 2026, total revenue was 8.17 billion baht, up 7 percent from a year earlier, and profit attributable to the parent company was 237 million baht, up 59 percent from a year earlier. The coal business posted revenue of 3.232 billion baht with sales volume of 1 million tonnes in the quarter, and the company targets 4 million tonnes for the full year. The Low Emission Mobility business recorded revenue of 1.329 billion baht, with AGE Auto Gallery targeting 2026 revenue of 4.2 billion baht and sales of 4,000 electric and hybrid vehicles. The company targets total 2026 revenue of 17.5 billion baht and aims for a 50-50 revenue mix from its Green business by 2030.
Phiphat unveils transport plan, pushing investment in 262 major projects for 2027
Mr. Phiphat Ratchakitprakarn, Deputy Prime Minister and Minister of Transport, revealed the infrastructure investment plan for 2027 comprising 262 projects, along with plans to develop 51 new projects from 2028 to 2030, aiming to integrate land, rail, water, and air travel and transport into a single system to elevate Thailand into a regional transport hub. Rail will be developed as the backbone, including electric trains in Bangkok and its vicinity, double-track railways nationwide, new lines connecting neighboring countries, and high-speed trains, while converting BMTA buses to electric buses and developing electric boats and smart piers. For roads, the motorway, expressway, and main and secondary road networks will be connected, such as the Rama II project, the M6 Bangkok–Nakhon Ratchasima, the M8 Nakhon Pathom–Pak Tho, and the M5 Rangsit–Bang Pa-in. For water transport, Laem Chabang Port Phase 3 will be accelerated to increase container capacity from 11.10 million TEU to 18.10 million TEU per year. For air transport, Suvarnabhumi Airport will be expanded from 60 million to 70 million passengers per year, Phuket Airport from 12.5 million to 18 million passengers per year, and Chiang Mai Airport from 8 million to 20 million passengers per year, along with plans for new airports, namely Andaman Airport and Lanna Airport.
Amprius Technologies raises full-year 2026 revenue guidance to at least $140 million
Amprius Technologies raised its full-year 2026 revenue guidance to at least $140 million, up from a prior forecast of at least $130 million, after reporting record second-quarter revenue of $34.0 million, up 19% from the first quarter and 2.3x year-over-year. Gross margin improved to 27% from 20% in the first quarter and 9% a year ago, driven by a favorable product mix, and the company now expects full-year gross margins of at least 28%, raised from a previous target of 25%. SiCore batteries accounted for 98% of second-quarter sales, with EMEA contributing 68% of total revenue, fueled by demand from European drone manufacturers. The company also announced a three-year supply agreement with Stark Future for electric motorcycles, expected to generate at least $100 million in revenue through 2029, and a $24 million order from a new European drone customer for SiCore cylindrical cells. Amprius ended the quarter with $74.5 million in cash and no debt, and it reiterated its target of positive adjusted EBITDA of at least $4 million for the full year.
Kasikorn Research Center says switching tuk-tuks to EVs could cut carbon by up to 140,000 tonnes per year
The Kasikorn Research Center has revealed that converting all internal combustion engine tuk-tuks in Bangkok to electric vehicles could reduce greenhouse gas emissions by up to 140,000 tonnes per year. Currently, Bangkok has 8,631 three-wheeled public hire vehicles registered as category 8, of which only 829 are electric, or 9.6 percent, as of 28 February 2026. This leaves around 7,800 internal combustion engine vehicles that may still need to transition. Electric tuk-tuks using a 7.4 kilowatt-hour battery emit indirect greenhouse gases of approximately 35 to 44 grams of carbon dioxide equivalent per kilometre, reducing in-use emissions by about 87 to 90 percent compared with LPG-powered vehicles, which emit around 336 grams per kilometre. The Department of Land Transport is currently gathering public feedback on a draft ministerial regulation proposing to ban internal combustion engine three-wheelers from operating in inner Bangkok, except for electric vehicles or those operating during specified hours, with the goal of reducing air and noise pollution in historic areas and key tourist destinations. The Kasikorn Research Center believes the government should play a key role through price gap subsidies, low-interest loans, buyback or conversion of existing vehicles, and dedicated charging stations for public vehicles, which could be linked to a 200 billion baht loan facility that includes plans to support environmentally friendly vehicle promotion projects. It also noted that the transition will not affect Thailand's soft power image, as uniqueness can be preserved through shape, colours, and decoration, while also promoting green tourism.
Niu Technologies swings to second-quarter net loss of RMB 102.2 million
Niu Technologies reported a net loss of RMB 102.2 million for the second quarter of 2026, compared with a net income of RMB 5.9 million in the same period last year. Revenues rose 14.7% year over year to RMB 1,440.4 million, driven by a 24.2% increase in e-scooter sales volume to 434,687 units, though gross margin fell to 16.0% from 20.1% due to product mix shifts and higher supply chain costs. The company posted an adjusted net loss of RMB 98.2 million, versus an adjusted net income of RMB 13.7 million a year earlier. Niu expects third-quarter revenues between RMB 1,863 million and RMB 2,033 million, representing a 10% to 20% year-over-year increase.
Segway-Ninebot's smart electric two-wheelers sold 2.844 million units in the first half, up 19% year-on-year
Segway-Ninebot released its semi-annual report for 2026, with smart electric two-wheeler sales reaching 2.844 million units, a year-on-year increase of 19%. Revenue from smart two-wheel electric vehicles in the first half was 7.49 billion yuan, up 10% year-on-year; sales revenue from self-branded retail electric scooters was 1.7 billion yuan, up 28% year-on-year. The company's total operating revenue in the first half was 14.36 billion yuan, up 22% year-on-year; net profit attributable to shareholders of the listed company was 1.01 billion yuan, and net cash flow from operating activities was 1.97 billion yuan. As of the end of the first half, Segway-Ninebot had over 11,500 exclusive stores for electric two-wheelers in China, covering more than 2,200 counties and cities.
Indonesia to unveil EV sales support measures within weeks, finance minister says
Indonesian Finance Minister Purbaya said on the 4th that the government plans to roll out measures within the coming weeks to promote purchases of electric vehicles, including electric motorcycles. The measures will cover sales of 500,000 electric motorcycles and are expected to be announced by President Prabowo in the next two to three weeks. The minister also indicated a policy of up to 100 percent value-added tax exemption for certain EV purchases. Indonesia aims to have 2 million electric passenger cars and 13 million electric motorcycles on its roads by 2030.
Airwheel Unveils AI Cabin Suitcase at ChinaJoy 2026
Airwheel introduced its latest AI Cabin Suitcase technology at ChinaJoy 2026 in Shanghai, showcasing a 20-inch luxury suitcase that transforms into a rideable electric scooter. The flagship SE3SXD model features one-touch automatic deployment, an airline-approved removable battery, and smart connectivity through a dedicated app with support for Apple Find My. The company also displayed other models including the SE3SL+, SE3SX, SE3T, and a children's SQ3S, forming a complete smart travel ecosystem. Airwheel holds over 600 global patents and its products have received multiple international design awards.
MIIT Scraps Cascade Utilization Clause for Power Batteries, Removes Over 100 Companies from Compliance List
The Ministry of Industry and Information Technology has abolished the cascade utilization clause for retired new energy vehicle power batteries, ending the public announcement management of cascade utilization enterprises and removing 100 previously listed companies from the roster of those meeting regulatory standards. The delisted firms include Shanghai BYD, Huayou Resources, Honeycomb Energy, Gotion High-tech, Rept Battero, Tengyuan Cobalt, Do-Fluoride, CRRC Times Electric, and GEM. The MIIT noted that some companies produced substandard battery products under the guise of cascade utilization, creating safety hazards and disrupting market order. This adjustment aims to eliminate conceptual confusion, requiring that battery products made from retired power batteries must meet quality standards for their application areas, and prohibiting the use of whole or reassembled retired power batteries in prohibited sectors such as electric bicycles. Analysts believe that compliant battery-swapping operators and the recycling industry chain will benefit, while the repair and second-hand markets reliant on gray-market batteries will face pressure, accelerating the concentration of industry resources toward leading companies with strong technical capabilities.
Zacks Highlights NIO, Mobileye, Hesai, and Ouster as Top Stocks for Rising EV and AV Adoption
Zacks Investment Research identifies NIO, Mobileye Global, Hesai Group, and Ouster as four stocks poised to benefit from accelerating electric vehicle and autonomous driving adoption. The global EV market saw sales climb 20% year over year to more than 20 million units in 2025, according to the International Energy Agency, with projections of 23 million units in 2026. The autonomous vehicle market is forecast to grow from $3.36 trillion in 2025 to $41.75 trillion by 2034, per Fortune Business Insights. NIO is gaining traction with its expanded lineup including the ES8 and ES9 models and its Onvo and Firefly sub-brands, while Mobileye advances its EyeQ platform and autonomous mobility partnerships with Volkswagen and Stellantis. Hesai expects lidar shipments to nearly double to 3 to 3.5 million units in 2026, and Ouster launched its REV8 native color lidar platform, scaling production through Benchmark Electronics.
Veo Launches Shared Electric Trike in Denver to Expand Micromobility Access
Veo has launched Rover, North America's only shared electric trike, debuting in Denver as part of the company's accessibility-focused fleet. Designed with input from disability advocates, older adults, and over 20 organizations, the three-wheel vehicle features throttle assist, a cushioned seat, and cargo capacity of up to 100 pounds. The initial rollout includes 50 trikes operating in downtown Denver, adding to the city's existing fleet of 9,000 Veo vehicles across five types. Veo co-founder and CEO Candice Xie said Rover is the company's most community-informed vehicle to date, shaped in partnership with the people it was built to serve.
Japan 7.1 Earthquake Severely Impacts TSMC, Evacuates Staff, Toyota and Honda Halt Production
A powerful magnitude 7.1 earthquake struck southwestern Japan on Tuesday evening, July 28, prompting Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, to evacuate all employees from its plant in Kumamoto Prefecture. Meanwhile, Honda Motor suspended operations at its Kumamoto factory, which produces automobiles and motorcycles, until Wednesday evening, July 29, and its subsidiary Astemo Uki halted production at a plant in the same prefecture, with several injuries reported. Toyota Motor Kyushu announced a temporary production suspension at all three of its plants in Fukuoka Prefecture for safety inspections, with plans to resume operations on Wednesday morning. Nippon Paper Industries disclosed that the chimney at its Yatsushiro plant in Kumamoto Prefecture suffered severe damage, with the upper section collapsing. Additionally, Kura Sushi closed six outlets in Kumamoto Prefecture, Seven-Eleven Japan shut some branches, Koikeya stopped production at its local plant, and transport companies including Sagawa Express, Yamato Transport, and Japan Post temporarily suspended parcel delivery services in Kumamoto Prefecture and some other areas.
AJA to launch run-for-rewards event this August, advancing new energy business
AJA is preparing to launch a run-for-rewards marketing activity in August 2026, and is currently studying the feasibility and suitability of the products to be used. Chief Executive Officer Mr. Pichai Panjasang revealed that although demand for electric motorcycles is high, actual sales are still pressured by tight lending from financial institutions. As for the plan to build an ecosystem in the new energy business with Chinese partners, it is a large-scale project that will take time, with clarity expected in more than eight months. AJA previously signed a memorandum of understanding with Chinese partners in November 2025 to study cooperation in Thailand's new energy industry. The cooperation framework has an initial term of three to five years, and the projects under study are worth approximately 14.3 billion baht.
Boliwei Launches Ambitious Equity Incentive: 2027 Revenue Target of at Least 6 Billion Yuan
Boliwei has released its 2026 restricted stock incentive plan, with a grant price of 39 yuan per share. The assessment period runs from 2027 to 2029, with a 2027 revenue target of no less than 6 billion yuan, which is close to the company's total revenue over the past three years. The plan covers 205 participants, including board secretary and financial head Wang Juan, core technical personnel Chen Zhijun, Ma Huasheng, Zhao Youman, and other key employees. Performance requirements increase year by year: for 2028, revenue must be at least 8 billion yuan, net profit at least 450 million yuan, and operating cash flow at least 500 million yuan; for 2029, revenue must be at least 10 billion yuan, net profit at least 600 million yuan, and operating cash flow at least 750 million yuan. The company posted losses in both 2023 and 2024, only returning to profitability in 2025. The net profit targets set by this incentive plan would mark a new record high. Boliwei stated that while the targets are challenging, they were set after careful consideration. It also noted that sales revenue from light-duty power batteries grew 62.85 percent year-on-year in 2025, and the company has secured a strong position in the robotics sector.
New car sales in Europe rise 13.6% in June, marking five consecutive months of growth
The European Automobile Manufacturers' Association announced that new car registrations in the EU rose 13.6% year-on-year in June to 1,147,962 units, marking five consecutive months of growth. By powertrain, electric vehicles surged 60.7% to 270,557 units, hybrid vehicles rose 18.4% to 404,608 units, and plug-in hybrids increased 22.1% to 115,714 units, showing strong performance for electrified vehicles. Meanwhile, petrol cars fell 12.4% to 244,833 units and diesel cars dropped 16.1% to 76,778 units, continuing their slump.
LiTime to launch Argoseeker electric outboard motors for small craft in August
LiTime has announced the upcoming launch of its Argoseeker electric outboard motors in mid-August 2026, marking the company's expansion from lithium power solutions to one-stop marine power solutions. The Argoseeker Series is designed for kayaks, canoes, and small boats, integrating motor, controller, and battery systems with LiTime's LiFePO4 batteries. The first two models are the Argoseeker A1, a 24V 700W motor delivering 60 lbs of thrust comparable to a 2 HP fuel outboard, and the Argoseeker A2, a 48V 2000W motor delivering 120 lbs of thrust comparable to a 5 HP fuel outboard. Both models feature a 3-minute clamp-on setup, wireless remote control, and cruise control capability. LiTime also launched Go Electric Contest Season 2 on July 15, 2026, to gather feedback from the global boating community.
Zacks Highlights BYD, NIO, Yamaha as Top Foreign Auto Stocks Despite Industry Headwinds
Zacks Investment Research identifies BYD, NIO, and Yamaha Motor as foreign auto stocks worth buying despite a challenging global demand environment. The Zacks Automotive – Foreign industry faces weakening domestic demand in China, profit pressure in Europe, and soft underlying demand in Japan, with the industry's earnings estimates for 2026 having moved down 38.7% over the past year. Yamaha is positioned for profit recovery, with the Zacks Consensus Estimate for its fiscal 2026 EPS implying year-over-year growth of 595%. BYD continues to strengthen its competitive edge through vertical integration and overseas expansion, with consensus estimates for its 2026 and 2027 EPS implying year-over-year growth of 28% and 22%, respectively. NIO is entering a stronger growth phase, and the Zacks Consensus Estimate for its 2026 and 2027 bottom line implies a year-over-year improvement of 86% and 137%, respectively.
Bafang Electric forecasts first-half 2026 net profit to rise 189% to 273% year-on-year
Bafang Electric issued an announcement forecasting that net profit attributable to shareholders of the listed company for the first half of 2026 will be between 93 million yuan and 120 million yuan, representing a year-on-year increase of 188.88% to 272.75%. The change in performance is mainly due to the overseas end-market destocking nearing its end, with the company's orders and production gradually returning to normal. At the same time, the company actively explored new markets and new customers, leading to higher sales volumes and a corresponding improvement in performance.
UNDP and TAILG Sign MOU to Launch Green Ride Africa Initiative
The United Nations Development Programme and TAILG have signed a Memorandum of Understanding to launch the Green Ride Africa initiative under the Green Mobility Centre of Excellence project. The partnership aims to accelerate Africa's transition to sustainable transportation through technology innovation, ecosystem development, and industry incubation. TAILG will provide electric two- and three-wheeled vehicle technology, battery management, and smart charging infrastructure, while its strategic partner Sunwoda Depower Energy will support batteries and energy storage systems. The collaboration builds on UNDP's African Electric Mobility Pilot Project and integrates local photovoltaic and energy storage to reduce carbon emissions. TAILG President Michael Yao stated the initiative will adhere to practicality, inclusivity, and localization to advance green mobility and support the Sustainable Development Goals.
EU to introduce minimum electrification target by 2040 to accelerate decarbonisation
The European Union plans to introduce a minimum target for the share of electricity in energy consumption by 2040, aiming to reduce reliance on oil and natural gas and promote economy-wide electrification. A draft document from the European Commission seen by Reuters does not include a specific figure, but the Commission is expected to unveil the formal proposal on the 17th. The move is part of a response to rising energy prices triggered by the conflict involving Iran, with EU data showing that oil and gas import costs have risen by roughly 50 billion euros since late February. To advance electrification, the plan encourages a faster shift from petrol and diesel cars to electric vehicles, replacing household gas boilers with heat pumps, and switching to electric furnaces in industry. To lower the upfront cost of electrification technologies, the Commission will propose mandatory heat pump installations in public buildings, stronger electric vehicle procurement targets, a framework allowing member states to reduce value-added tax on home batteries, electric vehicles, and heat pumps, and will launch an EU-funded auction scheme this year for renewable energy and electric-powered heat supply projects. It also plans to propose a phase-out of fossil fuel subsidies this year, aiming to improve the price competitiveness of electricity.
Internationales Beratergremium für Handel und Investitionen in Shandong tagt in Jinan
Das Rundtischgespräch des Internationalen Beratergremiums für Handel und Investitionen in Shandong 2026 fand am 7. Juli in Jinan statt. Unter dem Motto „Institutionelle Öffnung vertiefen, grüne und hochwertige Entwicklung vorantreiben“ diskutierten internationale Berater und geladene Vertreter aus mehr als zehn Ländern und Regionen über Themen wie Künstliche Intelligenz, digitale Transformation und ökologische Modernisierung. Besonderes Interesse galt dem 15. Fünfjahresplan der Provinz Shandong, der den Aufbau von vier strategischen Zukunftsbranchen mit einer Wirtschaftsleistung von jeweils einer Billion Yuan vorsieht – High-End-Ausrüstungstechnik, IT-Dienstleistungen, neue Energien und neue Werkstoffe – sowie vier weiterer Zukunftsbranchen mit einem Zielvolumen von jeweils 100 Milliarden Yuan, darunter Künstliche Intelligenz, Biomedizin, Fahrzeuge mit alternativen Antriebstechnologien sowie Luft- und Raumfahrt einschließlich der Low-Altitude-Economy. Vertreter internationaler Unternehmen wie DSM-Firmenich, Siemens, AbbVie, Philips, KPMG und Veolia brachten Vorschläge zur Verbindung von KI und moderner Fertigung, zur Transformation traditioneller Industrien und zur grünen Entwicklung ein, wobei die von Siemens und Rock Morrison errichtete Smart Zero-Carbon Factory in Jinan als erste Pilot-„Null-CO₂-Fabrik“ der Provinz nach Provinzstandards anerkannt wurde. Die Berater zeigten sich überzeugt vom weiteren Öffnungspotenzial Shandongs und sprachen sich für einen Ausbau der Wirtschaftsbeziehungen mit Partnern aus Italien, Kenia, Mexiko und den ASEAN-Staaten aus. Seit der Einrichtung des Gremiums im Dezember 2021 wurden 26 hochrangige Berater berufen, die in fünf Jahren nahezu 80 Berichte vorgelegt haben.
State Council Issues 15th Five-Year Carbon Peak Action Plan, Sets Targets for Energy Storage and New Energy Vehicles
The State Council has issued the 15th Five-Year Carbon Peak Action Plan, proposing that by 2030, pumped-storage hydropower installed capacity will reach around 160 gigawatts, new-type energy storage installed capacity will strive to reach 300 gigawatts, the maximum regulation capacity of nationwide virtual power plants will exceed 50 gigawatts, and power demand response capability will reach over 5% of maximum electricity load. The plan also proposes that by 2030, the share of new energy vehicle ownership will strive to reach 30%, and the share of new energy commercial transport vehicles will reach 25%. Data released by the China Association of Automobile Manufacturers shows that in the first half of the year, new energy vehicle production and sales reached 7.438 million and 7.446 million units, up 6.7% and 7.3% year-on-year respectively. The China Securities Regulatory Commission has approved the registration of Shanghai Enflame Technology's initial public offering, and the company will list on the STAR Market. Zhejiang Meida announced plans for a change in control, and its shares will be suspended from trading starting on the 10th. Several companies released first-half performance forecasts, among which Sunwave Communications expects net profit to increase by 1,428.58% to 2,001.8% year-on-year, and GigaDevice expects net profit to increase by approximately 1,099% year-on-year.
Stellantis Launches $13,995 Fiat Topolino Electric Quadricycle in the U.S.
Stellantis has launched the Fiat Topolino, a two-seat low-speed electric quadricycle, in the U.S. for $13,995. The vehicle weighs just over 1,000 pounds, runs about 8 feet long, and uses a 5.4-kWh lithium-ion battery for up to 46 miles of range, with a full charge taking roughly five hours on a standard outlet. Initial units are limited to 19 mph and restricted to private communities, resorts, and golf courses, but a no-cost conversion kit expected by late summer will raise the top speed to 25 mph, qualifying it as a federal Low-Speed Vehicle for use on public roads posted at 35 mph or below. The launch comes as Stellantis works through a €22.3 billion net loss last year and its stock hovers near 52-week lows, making the Topolino a low-risk, low-capital test of American appetite for micro-mobility. The vehicle is a rebadged, U.S.-adapted version of a model already selling in Europe since 2023, requiring no new platform investment, and is part of a broader four-brand affordability push that includes a $13 billion U.S. investment commitment and partnerships aimed at lowering EV development costs.
Kandi Technologies’ Subsidiary Enters into Exclusive Five-Year Partnership with Greentown Community Business Group
Kandi Technologies’ subsidiary Kandi Hainan has signed an exclusive five-year strategic cooperation agreement with Zhejiang Greentown Community Business Group to deploy electric sightseeing vehicles across residential communities in China. The partnership aims to build a community-focused new energy mobility ecosystem by combining Kandi Hainan’s low-speed electric vehicles and intelligent dispatching systems with Greentown’s property management expertise. The companies will jointly develop an integrated product, operation, and service solution to enhance user experience and profitability. Kandi expects the collaboration to expand its domestic off-road electric vehicle business, improve revenue mix, and generate sustainable cash flow.
Global Low-Powered Electric Motorcycle and Scooter Market Projected to Reach $17.5 Billion by 2032
The global market for low-powered electric motorcycles and scooters is projected to grow from an estimated 12.3 billion US dollars in 2025 to 17.5 billion US dollars by 2032, at a compound annual growth rate of 5.1 percent. The electric motorcycles segment is expected to reach 10.4 billion US dollars by 2032 with a CAGR of 4.2 percent, while the electric scooters segment is forecast to grow at a 6.7 percent CAGR. The United States market was valued at 3.8 billion US dollars in 2025, and China is forecast to grow at an 8.0 percent CAGR to reach 4.0 billion US dollars by 2032. Key drivers include advancements in lithium-ion and solid-state battery technology, government subsidies and infrastructure improvements, and rising adoption by delivery services and shared mobility platforms. Major companies in the market include Yadea, NIU Technologies, Ather Energy, Ola Electric, and Gogoro.
India passenger vehicle sales rise 29% in June, alternative fuel vehicle share hits record high
According to the Federation of Automobile Dealers Associations, retail sales of passenger vehicles in June rose 28.6% year-on-year to 410,853 units, with alternative fuel vehicles such as compressed natural gas cars, hybrids, and electric vehicles reaching a record 40.4% share of total sales. Amid rising crude oil prices due to the Middle East conflict, the government raised petrol and diesel prices at least four times in May, causing a surge in demand for alternative fuel vehicles. At market leader Maruti Suzuki, bookings for CNG cars have increased by 40% since the fuel price hikes. Total vehicle sales including two-wheelers rose 21.8% to 2.6 million units, a record for June. Two-wheeler sales grew 21.2% to 1.8 million units, and the share of electric two-wheelers rose to double digits for the first time, reaching 10.6%.