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China’s EV war: only the strongest will survive as BYD, Xpeng’s dominance knock out 15 pretenders amid supply glut
Total Capital raised has exceeded 100 billion yuan, and the national sales target of 6 million units set for 2025 has already been exceeded At least 15 once-promising EV start-ups with a combined annual production capacity of 10 million units have either collapsed or been driven to the verge of i...Read more -
Chevrolet Equinox EV Government Images Emerge In China Ahead Of US Launch
The crossover is expected to start from around $30,000 in the United States. Images of the Chevrolet Equinox EV have been posted online by China’s Ministry of Industry and Information Tech (MIIT) ahead of the all-electric crossover’s official debut in the country, revealing some new details abou...Read more -
China’s EV makers pare prices further pursuing lofty sales goals, but analysts say the cuts will end soon
· EV makers offered an average 6 per cent discount in July, a smaller cut than during the price war earlier in the year, researcher says · ‘Low profit margins will make it difficult for most Chinese EV start-ups to stem losses and earn money,’ an analyst says Amid frantic competition, Chinese el...Read more -
BYD, Li Auto break sales records again as pent-up demand for EVs benefits top Chinese marques
• Monthly deliveries for each of Li L7, Li L8 and Li L9 surpassed 10,000 units in August, as Li Auto set a monthly sales record for a fifth month in a row • BYD reports sales increase of 4.7 per cent, rewrites monthly delivery record for a fourth consecutive month Li Auto and BYD, two of China’s...Read more -
State-owned carmaker Changan joins likes of BYD and Great Wall Motors in Southeast Asia foray, to build factory in Thailand
• Thailand will be a focus for Changan’s international expansion, carmaker says • Chinese carmakers’ rush to build plants abroad reflects concerns about escalating competition at home: analyst State-owned Changan Automobile, the Chinese partner of Ford Motor and Mazda Motor, said it plans to bui...Read more -
GAC Aion, China’s third-largest EV maker, begins selling cars to Thailand, plans local factory to serve Asean market
●GAC Aion, the electric vehicle (EV) unit of the GAC, the Chinese partner of Toyota and Honda, said 100 of its Aion Y Plus vehicles are to be shipped to Thailand ●Company plans to set up Southeast Asian headquarters in Thailand this year as it prepares to build a plant in the country Chinese sta...Read more -
China’s EV frenzy drives carmaker stocks’ outperformance of Hang Seng Index as red-hot sales show no signs of cooling
Analysts forecast of doubling revenues comes on the back of a 37 per cent increase in total sales of pure electric and plug-in hybrid vehicles in the first half from a year ago Consumers who had postponed car purchases in anticipation of further discounts began returning in mid-May, sensing an en...Read more -
China electric cars: BYD, Li Auto and Nio smash monthly sales records again as demand surge continues
The strong sales are likely to offer the slowing national economy a much-needed boost ‘Chinese drivers that played wait-and-see in the first half of this year have made their purchase decisions,’ said Eric Han, an analyst in ShanghaiRead more -
Chinese EV start-up Nio to soon offer world’s longest range solid-state battery on rental basis
The battery from Beijing WeLion New Energy Technology, which was first unveiled in January 2021, will only be rented to Nio car users, Nio president Qin Lihong says The 150kWh battery can power a car up to 1,100km on a single charge, and costs US$41,829 to produce Chinese electric vehicle (EV...Read more -
Chinese carmaker BYD launches virtual showrooms in Latin America to reinforce go-global push and hone premium image
●Interactive virtual dealership has launched in Ecuador and Chile and will be available across Latin American in a few weeks, company says ●Along with recently launched pricey models, the move aims to help the company move up the value chain as it looks to expand international sales BYD, the wor...Read more -
China’s Tesla rivals Nio, Xpeng, Li Auto see sales jump in June, as demand for electric cars rebounds
●The recovery bodes well for an industry vital to the country’s economic recovery ●Many motorists who sat out the recent price war have now entered the market, a research note by Citic Securities said The three main Chinese electric-car makers enjoyed a surge in sales in June buoyed by pent-u...Read more -
Chinese EV maker Nio raises US$738.5 million from Abu Dhabi fund as competition in the domestic market escalates
Abu Dhabi government-owned CYVN will buy 84.7 million newly-issued shares in Nio at US$8.72 apiece, in addition to an acquisition of a stake owned by Tencent’s unit The aggregate holding of CYVN in Nio would rise to around 7 per cent following the two deals Chinese electric vehicle (EV) build...Read more
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