Daniel Ren

Shanghai

Daniel Ren

Shanghai Bureau Chief

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.

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Latest from Daniel Ren

Chinese EV start-up Li Auto launches L8 SUV aimed squarely at German rivals BMW, Audi and Mercedes-Benz

The Beijing-based carmaker has started taking orders for the six-seater SUV, which is priced from 359,800 yuan (US$50,730) to 399,800 yuan. The first batch of cars will be delivered in November.

The Beijing-based carmaker has started taking orders for the six-seater SUV, which is priced from 359,800 yuan (US$50,730) to 399,800 yuan. The first batch of cars will be delivered in November.

30 Sep 2022 - 9:00PM
Hong Kong IPOs flop as Leapmotor sinks 34 per cent in market debut and Onewo struggles below offer price

Two stock debutants struggled in Hong Kong trading after an underwhelming response to their initial public offerings (IPOs) in a week when the local market slumped to the lowest level in 11 years.

Two stock debutants struggled in Hong Kong trading after an underwhelming response to their initial public offerings (IPOs) in a week when the local market slumped to the lowest level in 11 years.

29 Sep 2022 - 6:42PM
SAIC, GM and VW’s Chinese partner, ties up with autonomous driving start-up Pony.ai to develop driverless vehicles

SAIC Motor and Pony.ai will build cars equipped with Level 4 autonomous driving systems to promote Shanghai’s autonomous driving sector and relevant policies.

SAIC Motor and Pony.ai will build cars equipped with Level 4 autonomous driving systems to promote Shanghai’s autonomous driving sector and relevant policies.

27 Sep 2022 - 9:00PM
Shanghai commercial landlords pinched by high vacancies, rent-cut demands as zero-Covid policies take toll on tenants

Commercial property owners in Shanghai find themselves beset by high vacancy rates and demands for rent reductions as China’s zero-Covid policies continue to suppress the retail and restaurant trades.

Commercial property owners in Shanghai find themselves beset by high vacancy rates and demands for rent reductions as China’s zero-Covid policies continue to suppress the retail and restaurant trades.

27 Sep 2022 - 8:30AM
Electric cars: Beijing extends exemption from 5 per cent purchase tax to end of 2023 in boost for sector

The exemption from a tax levied on electric vehicle purchases will be extended until 2024, Beijing announced, in an apparent effort to further bolster the use of battery-powered cars on mainland Chinese roads.

The exemption from a tax levied on electric vehicle purchases will be extended until 2024, Beijing announced, in an apparent effort to further bolster the use of battery-powered cars on mainland Chinese roads.

26 Sep 2022 - 7:15PM
CEO of Chinese EV maker Xpeng buys 2.2 million US shares from market as new SUV model expected to boost sales, profitability

He Xiaopeng, founder of Chinese smart EV maker Xpeng, bought 2.2 million of the firm’s American depositary shares, as its new SUV launch boosts confidence in its future.

He Xiaopeng, founder of Chinese smart EV maker Xpeng, bought 2.2 million of the firm’s American depositary shares, as its new SUV launch boosts confidence in its future.

26 Sep 2022 - 9:14AM
Toyota-backed Chinese autonomous driving firm Pony.ai and Geely join hands to accelerate roll-out of robotaxis

Chinese autonomous driving company Pony.ai is teaming up with Zhejiang Geely Holding Group, one of China’s largest privately-owned carmakers, to build a fleet of autonomous robotaxis.

Chinese autonomous driving company Pony.ai is teaming up with Zhejiang Geely Holding Group, one of China’s largest privately-owned carmakers, to build a fleet of autonomous robotaxis.

23 Sep 2022 - 8:20PM
China’s No 3 EV battery producer seeks to raise US$1.7 billion in Hong Kong IPO, likely to become the year’s third-largest share sale

The Jiangsu-based company said it would float 265.8 million shares at a price between HK$38 and HK$51 apiece, which would provide a boost for Hong Kong’s IPO market.

The Jiangsu-based company said it would float 265.8 million shares at a price between HK$38 and HK$51 apiece, which would provide a boost for Hong Kong’s IPO market.

22 Sep 2022 - 9:16PM
Xpeng launches US$44,000 semi-autonomous G9 SUV to take on Tesla’s Model Y in China’s premium EV market

The G9 will have a driving range of 702 kilometres on a single charge and will be delivered to customers in October. It has been priced from 309,900 yuan (US$44,170) to 469,900 yuan.

The G9 will have a driving range of 702 kilometres on a single charge and will be delivered to customers in October. It has been priced from 309,900 yuan (US$44,170) to 469,900 yuan.

21 Sep 2022 - 9:02PM
Xpeng launches city-level autonomous driving system, piling pressure on Tesla in race for robotic car supremacy

The Chinese smart electric vehicle builder has launched an advanced driver assistance system similar to Tesla’s full self-driving software, allowing its cars to navigate their way automatically along city streets.

The Chinese smart electric vehicle builder has launched an advanced driver assistance system similar to Tesla’s full self-driving software, allowing its cars to navigate their way automatically along city streets.

18 Sep 2022 - 4:11PM
Smaller Chinese EV battery makers grab market share from giants CATL, BYD as demand for green cars expected to double this year

China’s top EV battery makers are losing market share to smaller rivals as competition intensifies in the fast-growing sector expected to double in size to six million units this year.

China’s top EV battery makers are losing market share to smaller rivals as competition intensifies in the fast-growing sector expected to double in size to six million units this year.

19 Sep 2022 - 10:55AM
Electric carmaker BYD expands Shenzhen production base to keep pace with fast-growing Chinese market

The expansion of its industrial estate in Shen-Shan Special Cooperation Zone will cost 20 billion yuan (US$2.9 billion) and aims to generate annual sales of 100 billion yuan when it becomes operational next summer.

The expansion of its industrial estate in Shen-Shan Special Cooperation Zone will cost 20 billion yuan (US$2.9 billion) and aims to generate annual sales of 100 billion yuan when it becomes operational next summer.

15 Sep 2022 - 7:30PM
Chinese EV battery producers race ahead of assemblers with plans to build plants overseas as Beijing pushes industry forward

CATL said earlier this month that it would start building a US$7.35 billion plant in the Hungarian city of Debrecen within this year.

CATL said earlier this month that it would start building a US$7.35 billion plant in the Hungarian city of Debrecen within this year.

15 Sep 2022 - 8:30AM
Chinese shippers face abyss as freight rates plummet 60 per cent from ‘unprecedented’ highs at height of coronavirus pandemic

China’s shipping industry has reported a 60 per cent drop in freight rates, as congestion linked to Covid-19 eases globally and the country’s foreign trade slows down.

China’s shipping industry has reported a 60 per cent drop in freight rates, as congestion linked to Covid-19 eases globally and the country’s foreign trade slows down.

9 Sep 2022 - 2:10PM
China Aviation Lithium Battery wins Hong Kong bourse approval for US$2 billion IPO

If successful, the No. 3 battery maker in China could become the second-largest IPO in Hong Kong this year.

If successful, the No. 3 battery maker in China could become the second-largest IPO in Hong Kong this year.

9 Sep 2022 - 6:00AM
Tesla’s Shanghai factory nearly triples output, as China sales total beats Nio, Xpeng and Li Auto put together

Tesla shifted into a higher gear in China in August, resuming full output at its Shanghai factory and delivering more cars to Chinese buyers than its three largest home-grown competitors combined.

Tesla shifted into a higher gear in China in August, resuming full output at its Shanghai factory and delivering more cars to Chinese buyers than its three largest home-grown competitors combined.

8 Sep 2022 - 8:32PM
Lack of domestic in-car operating systems, not a chip shortage, could prove fatal for Chinese carmakers, warns former MIIT head

Miao Wei urged domestic companies to step up and improve self-sufficiency in auto operating systems to avoid Huawei’s situation on access to leading smartphone chips.

Miao Wei urged domestic companies to step up and improve self-sufficiency in auto operating systems to avoid Huawei’s situation on access to leading smartphone chips.

8 Sep 2022 - 10:41AM
Nio sees silver lining, predicting 32 per cent growth in third-quarter EV deliveries even if China’s slowdown deters most buyers

Nio has six different models of EVs in production, and is designing cheaper compact EVs to compete with mass-market carmakers Volkswagen and Toyota Motor.

Nio has six different models of EVs in production, and is designing cheaper compact EVs to compete with mass-market carmakers Volkswagen and Toyota Motor.

7 Sep 2022 - 10:37PM
Shanghai’s housing market rebounds as banks quicken loan approvals amid lower mortgage rates, spurring demand

As house prices shoot up, the battered local economy should benefit as the city government fast-tracks approvals for home construction and rakes in higher proceeds from land auctions, say analysts.

As house prices shoot up, the battered local economy should benefit as the city government fast-tracks approvals for home construction and rakes in higher proceeds from land auctions, say analysts.

7 Sep 2022 - 7:35AM
Shanghai’s Lujiazui financial forum falls victim to Covid-19 concerns as Communist Party Congress nears

Shanghai called off the Lujiazui Forum, the city’s most important financial conference, the day before it was scheduled to start after officials detected a new Covid-19 infection for the first time in a week.

Shanghai called off the Lujiazui Forum, the city’s most important financial conference, the day before it was scheduled to start after officials detected a new Covid-19 infection for the first time in a week.

6 Sep 2022 - 5:55PM
Tesla, Xpeng, Nio and other EV makers to face another rival as parent of Juneyao Airlines joins China electric-car fray

Shanghai-based Juneyao Group, the parent company of Juneyao Airlines, plans to enter the increasingly crowded mainland China market for electric cars after it took control of Yudo Auto.

Shanghai-based Juneyao Group, the parent company of Juneyao Airlines, plans to enter the increasingly crowded mainland China market for electric cars after it took control of Yudo Auto.

5 Sep 2022 - 7:29PM
Xpeng, Li Auto and Nio report woeful August sales as Chinese EV makers face weakening demand for big-ticket items

Xpeng and Li Auto reported fewer deliveries month on month in August, while Nio reported a 6 per cent increase in sales.

Xpeng and Li Auto reported fewer deliveries month on month in August, while Nio reported a 6 per cent increase in sales.

1 Sep 2022 - 8:57PM
GM’s China venture launches compact and affordable convertible EV Cabrio

The Cabrio was unveiled at last year’s Shanghai Auto Show and is being viewed as a potential game changer in the world’s largest market for conventional and electric cars.

The Cabrio was unveiled at last year’s Shanghai Auto Show and is being viewed as a potential game changer in the world’s largest market for conventional and electric cars.

31 Aug 2022 - 11:25AM
China EV makers including Nio, Xpeng, Li Auto take Covid-19 hit as outbreak closes Chengdu car show five days early

Established makers Nio, Xpeng, Li Auto, as well as emerging brands, see a key opportunity to build buzz for new models curtailed as they strive to compete with market leader Tesla.

Established makers Nio, Xpeng, Li Auto, as well as emerging brands, see a key opportunity to build buzz for new models curtailed as they strive to compete with market leader Tesla.

30 Aug 2022 - 3:30PM
Tesla rival BYD triples first-half profit to US$520 million on surging electric car sales in China

BYD tripled its first-half profit despite a strained automotive supply chain when lockdowns in the car-making hubs of Shanghai and Changchun forced manufacturers to partially suspend production between March and May.

BYD tripled its first-half profit despite a strained automotive supply chain when lockdowns in the car-making hubs of Shanghai and Changchun forced manufacturers to partially suspend production between March and May.

30 Aug 2022 - 3:06PM
Shanghai ‘doubles down’ on efforts to transform Lingang free-trade zone into future boomtown

Shanghai officials are putting Covid-19 lockdown memories behind as they aim to achieve US$145.5 billion of industrial output in the bonded zone that connects Lingang with the Yangshan Deepwater Port.

Shanghai officials are putting Covid-19 lockdown memories behind as they aim to achieve US$145.5 billion of industrial output in the bonded zone that connects Lingang with the Yangshan Deepwater Port.

28 Aug 2022 - 6:33PM
Shanghai to fast-track new manufacturing projects and expansions to help China’s economic ‘dragon head’ make up for lost time

Shanghai’s economic growth is likely to miss the 2022 target of 5.5 per cent, as the economy struggles amid a power shortage and intermittent anti-Covid policies to get back to normal.

Shanghai’s economic growth is likely to miss the 2022 target of 5.5 per cent, as the economy struggles amid a power shortage and intermittent anti-Covid policies to get back to normal.

26 Aug 2022 - 9:53AM
Energy crunch under Shanghai’s heatwave send post-lockdown recovery into spasms in China’s commercial hub

The unprecedented heatwave in Shanghai has raised concerns about the possibility of an impending power crunch and disruption to construction work, hampering the city’s economic recovery from a two-month Covid-19 lockdown.

The unprecedented heatwave in Shanghai has raised concerns about the possibility of an impending power crunch and disruption to construction work, hampering the city’s economic recovery from a two-month Covid-19 lockdown.

25 Aug 2022 - 10:54AM
China’s power shortage leaves 1 million electric cars, 400,000 stations in search of the jolt to charge their batteries

State Grid, the country’s largest electricity distributor, has since last Thursday reduced power supply at public facilities in Zhejiang, Hubei, Sichuan and Henan provinces and Chongqing municipality. It has also suspended operations at some charging facilities.

State Grid, the country’s largest electricity distributor, has since last Thursday reduced power supply at public facilities in Zhejiang, Hubei, Sichuan and Henan provinces and Chongqing municipality. It has also suspended operations at some charging facilities.

24 Aug 2022 - 7:52AM
Chinese EV maker XPeng reports wider second-quarter loss, expects to deliver fewer vehicles amid strained supply chain

Guangzhou-based Chinese smart electric vehicle start-up XPeng on Tuesday reported a wider underlying net loss for the second quarter, and said it expected a slower pace of deliveries in the next three-month period.

Guangzhou-based Chinese smart electric vehicle start-up XPeng on Tuesday reported a wider underlying net loss for the second quarter, and said it expected a slower pace of deliveries in the next three-month period.

23 Aug 2022 - 9:35PM