Major Developments! This Asset Class Is Heating Up!
In the world of new energy vehicles, exciting news has emerged! This morning’s trading session saw the charging station sector take the spotlight. Companies such as Futec Technology, Yingkerui, and Jin Guan Co. hit the maximum increase of 20%, while Aotexun, Jingquan Hua, Taiyong Changzheng, and Tongda Electric also reached their limits. Other stocks like China Rong Electric, Yingfeng Environment, Shuangjie Electric, and Green Energy Huichong showed significant movements. Following this, shares of NIO and Li Auto surged on the Hong Kong stock exchange, with NIO rising over 16% and Li Auto seeing an increase of nearly 9% at one point.
Today’s surge in the new energy vehicle sector can be attributed to a series of positive announcements. NIO and CATL signed a strategic cooperation agreement, with CATL planning a strategic investment of up to 2.5 billion RMB in NIO Energy. The head of autonomous driving research at Li Auto announced that the MindVLA technology will transform vehicles into thinking entities. At a technology launch event on March 17, BYD unveiled its “Megawatt Flash Charging” technology, capable of reaching a maximum charging voltage of 1000V, a maximum current of 1000A, and a peak charging power of 1MW. This technology can achieve a peak charging speed of 2 kilometers in 1 second and charge 407 kilometers in just 5 minutes. Additionally, BYD plans to build over 4000 Megawatt Flash Charging Stations.
On March 17, NIO and CATL formalized their strategic partnership in Ningde, Fujian. The collaboration aims to establish a battery swapping network covering all passenger vehicles, standardize industry technology, and deepen both capital and business cooperation, ultimately providing users with more efficient energy solutions. This partnership seeks to lead the new energy vehicle industry into a new era of high-quality development. Together, they will leverage their technological, managerial, and branding advantages to create the world’s largest and most advanced battery swapping service network.
Under the agreement, both companies aim to enhance their battery swapping network while promoting the standardization of battery specifications. CATL will support the development of NIO’s battery swapping network, and future models from NIO’s Firefly brand will incorporate CATL’s battery swapping standards and networks. The two companies will utilize a “dual network” model to provide a more convenient and efficient battery swapping experience for users, further enhancing the convenience of electric travel.
As a result of this partnership, NIO’s stock price soared on the Hong Kong exchange, jumping 16% by midday. Meanwhile, Li Auto is also capitalizing on this momentum. On March 18, Li Auto’s head of autonomous driving technology, Jia Peng, presented the development of their next-generation autonomous driving technology, MindVLA, at the NVIDIA GTC 2025. Jia explained that this self-developed model will transform cars from simple transportation tools into intelligent companions that can understand, see, and navigate their surroundings.
Li Auto CEO Li Xiang emphasized that MindVLA, which integrates spatial intelligence, language comprehension, and behavioral intelligence, represents a significant step toward achieving Level 4 autonomous driving. He likened MindVLA’s impact on autonomous driving to how the iPhone 4 redefined smartphones. Bank of America reiterated its “Buy” rating for Li Auto, raising its target price from 121 HKD to 125 HKD, citing strong gross margins and free cash flow management.
As the market excitement continues to grow, the focus has shifted to charging stations. High-pressure fast charging stocks were active at the open, with Aotexun hitting a daily limit, while Yonggui Electric, Shenghong Co., China Rong Electric, Taiyong Changzheng, and Green Energy Huichong opened more than 5% higher, with some stocks hitting strong limits. BYD’s recent unveiling of its Megawatt Flash Charging technology, as stated by Chairman Wang Chuanfu, aims to eliminate charging anxiety for electric vehicle users by reducing charging times to be on par with refueling conventional vehicles.
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