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.
More divestments to come, analyst says, as conglomerate aims to cut debts by US$1.38 billion annually in the next two to three years.
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.
Lianjia has teamed up with coffee chain operator Manner to open a cafe in one of its outlets in Shanghai, launching a crossover marketing campaign to drive transactions amid lack of homebuying interest.
There is nothing to fear from missteps because nobody is error-free, Ma wrote, after his co-founder Joe Tsai touched on Alibaba’s mistakes in a podcast interview, generating a frenzy on China’s social media.
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.
Transactions involving lived-in homes in Shanghai shot up in March as owners offered discounts to bargain hunters, but the outlook for the city’s housing market remains cloudy due to concerns about a bleak economy.
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.
Malaysian budget carrier AirAsia plans to start new routes connecting smaller mainland Chinese cities with Southeast Asia to tap a recovery in the country’s travel market, as consumers become more budget conscious.
Mainland China’s commercial and financial hub plans to set up a 100 billion yuan (US$13.8 billion) fund of funds focusing on key technology sectors to fire up the local economy.
BYD, the world’s largest electric-vehicle maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.
Chinese conglomerate Fosun International is rapidly offloading assets as it looks to lower debt and concentrate on sustainable businesses
The global automotive industry is making a “strategic transformation” towards electrification, said Gou Ping, vice-chairman of the State-owned Assets Supervision and Administration Commission.
Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, is courting both domestic and international investors in a move that is in line with its asset-light strategy.
The two companies aim to churn out EV batteries that can last for as long as 15 years, nearly double the current average lifespan, which could help EV users save tens of thousands of yuan, they say.
The world’s largest EV maker is taking the offensive in a market-share battle, with rivals including Xpeng, Zeekr and SAIC-GM-Wuling also slashing prices.
The Chinese smartphone maker, which has started taking orders for its maiden EV model, will start deliveries on March 28. The market estimates the car to be priced from 200,000 yuan (US$27,865) to 370,000 yuan.
Chinese electric vehicle (EV) maker Xpeng plans to launch its first right-hand drive model in the second half of this year as it accelerates its push to go global, targeting markets such as Hong Kong and Southeast Asia.
Shanghai’s housing market looks set to continue its downward slide due to a lack of buying interest, as would-be buyers wary of a gloomy economic outlook continue to feel uneasy about the current high property prices.
The US carmaker’s Gigafactory in Shanghai handed over 30,141 Model 3s and Model Ys to mainland customers last month, a year-on-year decline of 24.4 per cent, according to China Passenger Car Association data.
The Shenzhen-based company expects to complete its share repurchase scheme within 12 months of the plan’s approval by shareholders.
The Warren Buffett-backed carmaker has stepped up its pace of overseas expansion amid an ongoing price war and slowing sales at home.
The Shanghai-based carmaker expects to hand over 31,000 to 33,000 EVs to mainland Chinese customers between January and March, down 34.1 to 38.1 per cent from the fourth quarter of 2023.
