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BYD is the world's largest maker of electric vehicles by units sold. Dominant in China, the company has since 2021 sought to aggressively expand sales of passenger cars to Europe, Southeast Asia, Oceania and South America. It also sells products ranging from electric buses and trucks to forklifts, solar panels and rechargeable batteries.
Beijing accuses Brussels of protectionism over its threatened tariffs against imports of competitively priced quality cars, putting relations on an even rockier road.
Shenzhen carmaker is having the last laugh on Elon Musk as its global deliveries overtake those of US rival.
The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.
China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.
International marques are mounting a spirited fightback, focusing on reliability and safety, and providing a mixed bag of petrol and electric cars for a new generations of local customers.
Nissan Motor unveiled four new electric vehicle models at the Beijing Auto Show and vowed to build more EV products ‘in China, for China’ in an attempt to recover lost sales.
The carmaker hopes to lure high-end Chinese consumers amid an escalating price war among some of its top rivals.
Further discounts offered by carmakers in a price war in mainland China’s electric vehicle market could ensnare even the likes of top seller BYD, Goldman Sachs says.
The German carmaker, which saw its market share shrink in China last year, said it plans to launch 30 new electric cars on the mainland by 2030 as it vies to keep up with the rapid pace of electrification in the world’s largest vehicle market.
Li Auto , Tesla’s nearest rival in mainland China, reduced the price of all its vehicles by up to 5.7 per cent, just a day after the US carmaker offered discounts to local customers amid an escalating discount war.
Tesla has cut the prices of its Shanghai-made vehicles by more than 5 per cent in mainland China, joining an intensifying discount war in the country amid a slowdown in the carmaker’s sales globally.
Only a few dozen employees at the Gigafactory 3 in Shanghai were told to leave, representing a tiny portion of the workforce of 20,000 assembling Model 3 and Model Y vehicles, say two people with knowledge of the matter.
Carmakers like Dongfeng, Chery and BYD are eyeing production sites in Europe to assemble the next generation of electric vehicles as a foil against the EU’s protectionist tariffs as a brutal price war at home drives more producers offshore in search of fresh markets.
Chinese state-owned carmaker Chery Automobile takes a step into Europe’s EV markets as its Omoda brand establishes a partnership with UK car rental company Octopus Electric Vehicles.
Xiaomi’s roaring entry into the electric vehicle market is dimming the recovery outlook for China’s beaten down car start-ups, with better-than-expected initial orders for the SU7 helping a rally its shares.
Spotlight Automotive, BMW’s 50-50 EV venture with mainland Chinese partner Great Wall Motor, is designing new models that it hopes to sell globally.
The Chinese electric vehicle maker has taken a significant step towards tapping the right-hand drive market after forming a partnership with Sime Darby Motors to distribute its cars in Hong Kong.
New-energy vehicles will make up about half of new car sales in China by 2030, as state incentives and expanding charging stations win over more customers, Moody’s Investors Service says.
Li Auto, Tesla’s nearest rival in mainland China, plans to start selling a new, more economical model aimed at families amid a price war in the country’s electric vehicle market.
Strong sales of smartphone vendor Xiaomi’s first electric car have exacerbated a price war in the sector that is squeezing the profit margins of most players in China.
Washington fears that Chinese cars may be able to come over the southern border with zero tariffs under the United States-Mexico-Canada Agreement.
Setting up shop in Mexico helps avoid US tariffs, but Chinese companies still must confront major concerns about labour costs, profitability and cultural differences.
Guangzhou-based Aion will partner with Jakarta-based carmaker Indomobil Group. Aion’s first Southeast Asia plant, in Thailand, is expected to start production this summer.
Tesla is the world’s largest maker of pure electric cars again after outselling its closest rival, BYD, during the first quarter of this year, according to data published by the companies.
Li Auto, Nio and Xpeng, China’s top three premium EV manufacturers, have reported a strong rebound in deliveries in March, while BYD said the sales of its pure electric and plug-in hybrids had surged as well.
The US giant raised the price of its Shanghai-made Model Y on Monday, bucking the trend set by a discount war that is squeezing the profit margins of most of its rivals in the world’s largest electric vehicle (EV) market.
Exchange programme with mainland China gives Hong Kong civil servants insights into country’s policy direction, development trends, history and culture.
Xiaomi off to a flying start in EV sector with its new SU7, which is priced to take on Tesla’s Model 3 in the competitive Chinese market.