Two partnerships forged this week by China’s leading carmaker Zhejiang Geely with search-engine company Baidu and Apple supplier Foxconn, hint at how the sector is being reshaped.

The world’s largest contract manufacturer of consumer electronics is teaming up with China’s leading carmaker to assemble made-to-order electric cars.

The company, one of three Chinese electric vehicle start-ups viewed as potential rivals to Tesla, said on Tuesday that it had secured credit from five lenders.

The slump-defying second half explains why global carmakers and start-ups are doubling down on their investments, sales and marketing in China, betting on the spending power in the world’s second-largest economy to make up for declines elsewhere.

The electric-car boom has turned battery maker Contemporary Amperex Technology into China’s eighth largest stock by market value, surpassing Bank of China, Midea Group and PetroChina.

Competition is heating up in China’s electric vehicle market as almost 200 carmakers and internet start-ups jostle for supremacy in an industry where one in five cars are likely to be powered by a non-fossil fuel source by 2025.

The search engine giant is teaming up with carmaker Geely to design and make smart electric vehicles, joining a crowded field of partnerships racing to challenge the dominance of Tesla.

Xpeng’s CEO dismisses concerns that steep discounts to Tesla’s SUV may increase its appeal in mainland China and eat into market share of local electric vehicle makers.

Buyers of the locally made Model Y will have to wait until late February for deliveries to start, according to staff at a showroom in Shanghai.

The surprise launch, with the lower price points, underscores the intense competition in China’s market for new energy vehicles, as the Chinese government is throwing billions in incentives, subsidies and cheap loans.

The electric car joint venture between start-up NIO and GAC Group made the announcement on the use of digital currency on Weibo only to withdraw it.

Tesla, which came second in a JD Power survey, says that its ‘manufacturing process is managed based on the highest standards and in a consistent manner’.

Alibaba, Tencent and Baidu are supplying electric car start-ups technology in the hope of creating synergies between them and defining the future of mobility.

The incident appears to be the latest woe for Danke, after being caught in November between angry landlords who were owed their rent and sublet tenants who had paid their deposits but were evicted.

Durable, affordable and accessible batteries are necessary for realising the Chinese government’s ambition for one in five vehicles on the country’s roads to be driven by non-fossil fuels by 2025.

Soaring overseas demand for Chinese-made household products propelled the country’s exports to a record in November, and brought a windfall to thousands of small- and medium-sized manufacturers.

China Passenger Car Association data shows that conventional carmakers, including ventures between foreign giants and local companies, have grabbed a bigger market share. Of the 10 bestselling marques in November, eight were domestic carmakers, as low-priced EVs made by Great Wall Motors, BYD and Chery proved to be a hit among younger Chinese drivers.

Xpeng will deliver 100 G3 SUVs to buyers in Norway, the first time that Chinese-made smart EVs will be directly delivered to individual customers in Europe.

The birth of China’s stock market 30 years ago has been a source of pride and fascination for the nation. The rags-to-riches tale of pioneer trader ‘Millionaire Yang’ is an inspiration to its 175 million individual investors.

The plan by CATL was announced following a personal invitation by the Indonesian President Joko Widodo for Tesla to build an electric vehicle assembly in his country.

Housing affordability is a hot-button political issue for the ruling Communist Party.

The China Association of Automobile Manufacturers sees sales of new-energy vehicles topping 1.8 million units next year, compared to an estimated 1.29 million for the whole of 2020.

With exporters scrambling to meet delivery schedules and commitments, shipping freight rates from China have surged by more than 300 per cent since March.

Guangzhou-based new energy vehicle maker Xpeng Motors said on Wednesday that it could raise up to US$2.48 billion in a follow-on share placement.

Chinese carmakers have fallen victims to the coronavirus pandemic despite months of strong sales – they are facing a shortage of chips that are used in manufacturing as well as automobiles’ electronic systems.

NIO and Xpeng, both valued at more than the century-old Ford Motor, are two of the three US-listed Chinese NEV makers hot on the heels of the industry leader Tesla in a market where sales could more than double to 3 million units a year by 2025.

China’s corporate bond market looks set to see a record in missed repayments this year, surpassing last year’s 143.6 billion yuan (US$21.8 billion) in defaults and heightening concerns about issuers’ credibility and compliance.

FMCG prices eased 2.1 per cent from January to September, with a recovery in consumer spending in the second half not enough to offset the sharp decline at the start of the year.

The Chinese currency administrator had maintained a tight grip on programmes to liberalise offshore investments by Chinese funds and individuals, handing out limited quotas to select foreign institutions over the past, on concern that excessive outflows could lead to capital flight.

Down jackets and coats are not very common in China, with only about 10 per cent of its population owning such garments. But their popularity is rising among the country’s fashion-conscious youth.