New generation of commercial maglev train unveiled

CRRC Zhuzhou Locomotive Co. said Thursday that tests have been completed for its next generation of commercial maglev train.

The train, with a designed speed of 200 km per hour, has achieved multiple tech breakthroughs such as unmanned driving and non-contact power supply, said Zhang Wenyue, deputy head of the firm’s maglev research institute. It is expected to be applied to intercity and urban lines of 50 km to 200 km, he added.

Tesla hikes prices for Model 3 and Model Y cars

ELECTRIC car maker Tesla Inc. on Thursday raised prices of some China-made Model 3 and Model Y vehicles by 10,000 yuan (US$1,582.40), according to its website.

Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse the long-term trend of falling costs of batteries, said Gregory Miller, an analyst at Benchmark Mineral Intelligence.

Lithium tech firm to file for US$1.5B HK IPO

CHINA Aviation Lithium Battery Technology Co. plans to file for a Hong Kong initial public offering (IPO) as early as this week, Bloomberg News quoted sources familiar with the matter as saying Thursday.

The Jiangsu-based electric vehicle battery maker is working with Huatai Securities Co. on the listing, which could raise as much as US$1.5 billion, the report said. At US$1.5 billion, the company’s IPO could be Hong Kong’s biggest in 2022, according to data compiled by Bloomberg.

Three Gorges weighs US$2B IPO of Brazil unit

CHINA Three Gorges Corp. is exploring an initial public offering of its Brazilian unit as the Chinese energy giant seeks to raise funds for expansion in Latin America, Bloomberg News reported Thursday.

The State-owned company has held talks with prospective advisors to prepare for the potential share sale in Sao Paulo, which could raise about US$2 billion, the report said.

Lululemon to debut women’s footwear

CHINA is among the first markets where athleisure brand Lululemon debuts its footwear category, the company said Wednesday.

The Canadian company known for its leggings and yoga pants announced the introduction of a running shoe for women known as Blissfeel, signaling its first-ever foray into footwear. The sneaker will become available to customers March 23 online and in select stores.