Global EV sales are expected to accelerate from next year onwards and grow at a compound annual rate of 23 per cent up to the end of the decade, according to estimates by the French bank.

The fierce price war sweeping China’s EV market is likely to persist for years, with the impact to be felt by foreign carmakers which will see their market share shrink, Leapmotor co-president Michael Wu says.

The autonomous driving start-up plans to launch the L4-capable FlashBot in Shanghai this year, followed by other tier-one mainland cities. It is also seeking tie-ups in Hong Kong, Europe and North America.

China’s overseas vehicle shipments are set to grow at a clip this year, bolstered by surging sales in markets like Southeast Asia and the Middle East, as the country’s heft in manufacturing electric cars goes from strength to strength.

Hefei, the capital of the eastern Anhui province, has placed a heavy focus on innovation and emerging industries, including new energy vehicles, with officials from across China eager to copy the formula for success.

China’s top three premium EV makers posted mixed sales last month, as companies remain entrenched in a price war in the world’s largest car market that shows no signs of ending.

To go to market with Tesla’s Full Self-Driving system, Elon Musk had no choice but to join a Chinese partner for a mapping licence on the mainland.

General Motors, Ford and other carmakers, which struck deals last year to give customers access to the network, said they are not changing their plans.

Jetour targets markets like Malaysia and Indonesia with right-hand drive models as globalisation drive accelerates.

The US carmaker has passed a test of its compliance with Beijing’s data security rules thanks to a watershed decision it says could pave the way for the removal of some restrictions on the use of its cars in mainland China.

Disgraced property mogul Truong My Lan may have been the richest person in Vietnam at one point – before she was caught taking out billions in fraudulent bank loans

China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.

AeroHT, an affiliate of Chinese electric vehicle maker Xpeng, has started the countdown for the commercialisation of its flying car and plans to start taking pre-orders in the fourth quarter of this year.

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.

But American treasury secretary says the policy option is something Washington ‘would be prepared to use if necessary’.

Chinese electric vehicle start-up Xpeng said its partnership with AI chip supplier Nvidia has not been affected by tighter US trade sanctions, but it will keep its options open with local suppliers.

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.

The Chinese tech giant already counts more than 100 carmakers and various automotive industry players as partners.

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.

Tesla launch of ‘new models’ by early 2025 in an advanced timeline would use its current platforms and production lines

Chinese smartphone brand Xiaomi has declared initial victory in its foray into the crowded electric vehicle market, claiming more than 70,000 orders for its SU7 sedan in the first month.

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.

Musk has ordered the company’s biggest lay-offs ever and staked its future on a next-generation, self-driving vehicle concept called the robotaxi. People familiar with his directives are unsettled by the changes the CEO wants to push through.

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.