https://www.scmp.com/rss/517926/feed The latest news on Chinese chemist, billionaire entrepreneur, Wang Chuanfu, founder, chairman and CEO of BYD Company, including Chinese business news and updates. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Themis Qi Themis Qi The era of price wars in China’s electric vehicle (EV) market is giving way to a new contest: who can deliver better technology at the same price. On a cloudy evening in March, Shenzhen-based BYD put forward its answer with the unveiling of a battery capable of charging from 10 to 70 per cent in just five minutes – and to 97 per cent in nine minutes. The company said it would apply the technology to models priced as low as 155,000 yuan (US$22,500) while building 20,000 charging stations this... https://www.scmp.com/business/china-evs/article/3348131/how-chinas-ev-makers-think-they-can-outrun-disastrous-price-wars?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348131/how-chinas-ev-makers-think-they-can-outrun-disastrous-price-wars?utm_source=rss_feed Sat, 28 Mar 2026 02:00:13 +0000 Daniel Ren,Cheryl Arcibal Daniel Ren,Cheryl Arcibal China’s electric vehicle (EV) king BYD posted its first annual profit drop in four years as it faced intensifying competition from domestic rivals in a cutthroat market. The Shenzhen-based company reported a net profit of 32.6 billion yuan (US$4.72 billion) for 2025, down 18.97 per cent from a year earlier, according to a filing to the Hong Kong and Shenzhen stock exchanges. That missed a consensus forecast of 35.4 billion yuan in a Bloomberg survey of analysts. Revenue grew 3.46 per cent to... https://www.scmp.com/business/china-business/article/3348207/byds-four-year-profit-run-ends-eyes-global-markets-next-engine-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348207/byds-four-year-profit-run-ends-eyes-global-markets-next-engine-growth?utm_source=rss_feed Fri, 27 Mar 2026 14:00:12 +0000 Themis Qi Themis Qi Xiaomi’s updated SU7 electric vehicle (EV) is expected to bite into the market share of Tesla and some domestic rivals in China, as demand weakens and regulators tighten oversight. Founder and CEO Lei Jun on Thursday announced official pricing for the new-generation smart sedan, with the standard edition starting at 219,900 yuan (US$31,900) and the pro and max variants set at 249,900 yuan and 303,900 yuan, respectively. The figures are 10,000 yuan lower than pre-sale estimates, but 4,000 yuan... https://www.scmp.com/business/china-evs/article/3347259/xiaomis-new-generation-su7-launch-sparks-fresh-ev-fight-tesla-china?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3347259/xiaomis-new-generation-su7-launch-sparks-fresh-ev-fight-tesla-china?utm_source=rss_feed Fri, 20 Mar 2026 05:29:50 +0000 Iris Deng,Themis Qi Iris Deng,Themis Qi Leading Chinese electric vehicle (EV) manufacturer BYD has unveiled a new-generation battery featuring charging speeds that the company says can rival a refill at a petrol station. BYD’s Blade Battery 2.0, launched on Thursday, can be charged from 10 per cent to 70 per cent in five minutes, and to 97 per cent in nine minutes, which the company said was the world’s fastest charging speed for a mass-manufactured unit. Even in extreme weather, with temperatures as low as minus 30 degrees Celsius... https://www.scmp.com/tech/article/3345652/chinas-byd-looks-make-electric-vehicle-charging-fast-filling-petrol?utm_source=rss_feed https://www.scmp.com/tech/article/3345652/chinas-byd-looks-make-electric-vehicle-charging-fast-filling-petrol?utm_source=rss_feed Fri, 06 Mar 2026 03:15:28 +0000 Themis Qi Themis Qi China’s energy storage firms, battered by a three-year price war, have been jolted by lithium battery maker Deegares, which has announced plans to raise prices by 15 per cent, a move that is sparking debate over whether the sector could be the first to break free from the “involution” cycle. Rising lithium costs were the immediate trigger, with at least three other battery makers reported in recent weeks to be planning similar increases. Prices of the metal, crucial to rechargeable batteries,... https://www.scmp.com/business/china-business/article/3336932/can-rising-lithium-costs-save-chinas-energy-storage-firms-brutal-price-war?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3336932/can-rising-lithium-costs-save-chinas-energy-storage-firms-brutal-price-war?utm_source=rss_feed Thu, 18 Dec 2025 23:30:08 +0000 Mandy Zuo Mandy Zuo While China continues to produce many young self-made billionaires, showcasing its economic dynamism, observers have urged the creation of a more supportive environment, saying that innovation is still being held back. About 98 per cent of the super-rich in mainland China, with assets valued at US$1 billion or more, are relatively young first-generation entrepreneurs, reflecting the vitality and wealth-creation power of its economy, Swiss bank UBS said in a recent report. However, Beijing’s... https://www.scmp.com/economy/china-economy/article/3336231/chinas-growing-young-billionaire-class-masks-innovation-hurdles-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3336231/chinas-growing-young-billionaire-class-masks-innovation-hurdles-analysts-say?utm_source=rss_feed Sun, 14 Dec 2025 03:00:17 +0000 SCMP SCMP We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Tesla affirms confidence in Chinese partners, repudiates supplier ban Tesla does not exclude suppliers based on their country of origin as the US electric-vehicle (EV) maker applies unified and rigorous standards in selecting vendors from around the globe, according to a senior... https://www.scmp.com/business/china-evs/article/3335688/teslas-confidence-china-chinese-carmakers-post-stellar-sales-november-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3335688/teslas-confidence-china-chinese-carmakers-post-stellar-sales-november-7-ev-reads?utm_source=rss_feed Wed, 10 Dec 2025 07:15:09 +0000 Daniel Ren Daniel Ren BYD, China’s electric vehicle (EV) king, is pinning its hopes on next-generation technology to engineer a turnaround in sales amid fierce competition in the world’s largest automotive market, according to its founder and chairman Wang Chuanfu. Speaking at a shareholders’ meeting in Shenzhen on Friday, the billionaire said the company’s 12,000 engineers – the backbone of the carmaker – would help it regain a technological edge over rivals. “We have heavyweight new technology in the pipeline,” he... https://www.scmp.com/business/china-business/article/3335391/byd-founder-wang-chuanfu-bets-new-tech-win-back-customers-sales-decelerate?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3335391/byd-founder-wang-chuanfu-bets-new-tech-win-back-customers-sales-decelerate?utm_source=rss_feed Fri, 05 Dec 2025 12:05:42 +0000 Julie Zhang Julie Zhang Mainland China’s billionaires have tightened their grip as Asia-Pacific’s wealthiest after their combined fortunes swelled to nearly US$1.8 trillion, with electric-vehicle (EV) maker BYD’s founder Wang Chuanfu and bubble tea chain Mixue’s bosses among the biggest drivers of that growth, according to a UBS report. Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early... https://www.scmp.com/business/banking-finance/article/3335155/mainland-chinas-billionaire-count-surges-byd-and-mixue-bosses-power-wealth-gains?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3335155/mainland-chinas-billionaire-count-surges-byd-and-mixue-bosses-power-wealth-gains?utm_source=rss_feed Thu, 04 Dec 2025 08:30:09 +0000 Daniel Ren Daniel Ren China’s electric-vehicle (EV) leader BYD reported a 32.6 per cent fall in third-quarter profit, as slowing sales and price cuts in the domestic market offset its strong performance abroad. The Shenzhen-based company said its profit tumbled to 7.8 billion yuan (US$1.1 billion) in the three months ended September, compared to 11.6 billion yuan a year earlier, according to a statement filed with the Hong Kong and Shenzhen stock exchanges on Thursday. Still, that represented a 22.6 per cent increase... https://www.scmp.com/business/china-business/article/3330951/byd-quarterly-profit-tumbles-weak-china-sales-offset-overseas-gains?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3330951/byd-quarterly-profit-tumbles-weak-china-sales-offset-overseas-gains?utm_source=rss_feed Thu, 30 Oct 2025 13:16:47 +0000 Igor Patrick Igor Patrick Chinese carmaker BYD inaugurated what it describes as its largest electric vehicle plant outside Asia on Thursday, highlighting Brazil’s bid to lead South America’s shift towards clean mobility while drawing renewed scrutiny of Beijing’s expanding industrial footprint. The opening of the vast Camacari complex in Bahia state brought together President Luiz Inacio Lula da Silva, Vice-President Geraldo Alckmin, state and local officials and dozens of industry figures. It coincided with the roll-out... https://www.scmp.com/news/china/article/3328433/byd-opens-massive-brazil-plant-its-biggest-investment-outside-asia?utm_source=rss_feed https://www.scmp.com/news/china/article/3328433/byd-opens-massive-brazil-plant-its-biggest-investment-outside-asia?utm_source=rss_feed Thu, 09 Oct 2025 17:15:50 +0000 Daniel Ren Daniel Ren In a rare move, more than three dozen BYD executives increased their stakes in the world’s largest electric-vehicle (EV) maker, which is likely to boost investor confidence after its shares plunged more than 20 per cent from an all-time high in May. Thirty-seven executives, including five vice-presidents, spent a combined 52.3 million yuan (US$7.3 million) to buy 488,200 Shenzhen-listed shares to “display their continued optimism about the investment value of the company”, BYD said in filings to... https://www.scmp.com/business/banking-finance/article/3325141/byd-executives-buy-shares-show-confidence-ev-makers-investment-value?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325141/byd-executives-buy-shares-show-confidence-ev-makers-investment-value?utm_source=rss_feed Thu, 11 Sep 2025 05:07:05 +0000 Daniel Ren Daniel Ren BYD, the world’s largest electric vehicle (EV) maker, is doubling down on its expansion in Europe, opening more showrooms and launching new models as its growth slows in China. The Shenzhen-based company, which counts Warren Buffett’s Berkshire Hathaway as a minority shareholder, plans to operate 2,000 outlets across the continent in 2026, up from a projected 1,000 by the end of this year, according to Stella Li, an executive vice-president. Speaking at the IAA Mobility car show in Munich on... https://www.scmp.com/business/china-business/article/3324856/byd-ramps-showroom-openings-targets-production-europe-offset-slowdown-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324856/byd-ramps-showroom-openings-targets-production-europe-offset-slowdown-china?utm_source=rss_feed Tue, 09 Sep 2025 07:00:09 +0000 Yujie Xue Yujie Xue BYD sold more battery electric vehicles (BEVs) than market leader Tesla in Europe for the first time last month, as the Chinese carmaker continued to make inroads despite hefty tariffs on cars imported from the mainland. Shenzhen-based BYD, which also makes plug-in hybrids (PHEVs), sold 7,231 BEVs in April, a year-on-year increase of 169 per cent, according to data compiled by market research firm Jato Dynamics from 28 countries in Europe. Tesla’s sales fell 49 per cent to 7,165 units in the... https://www.scmp.com/business/china-evs/article/3311499/byd-overtakes-tesla-europe-first-time-battery-ev-sales-jump-169-april?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3311499/byd-overtakes-tesla-europe-first-time-battery-ev-sales-jump-169-april?utm_source=rss_feed Fri, 23 May 2025 05:01:43 +0000 Luna Sun Luna Sun This latest interview in the Open Questions series features Chinese economist Yao Yang. The former dean of the National School of Development at Peking University has written widely on economic development and institutional change in China, including the book Economic Reform and Institutional Innovation. In this interview, he anticipates a US-China trade deal, addresses industrial overcapacity in China and assesses the impact of new technology on the country’s future economic prospects. SCMP... https://www.scmp.com/plus/article/3309538/us-china-trade-deal-has-quite-high-likelihood-says-yao-yang?utm_source=rss_feed https://www.scmp.com/plus/article/3309538/us-china-trade-deal-has-quite-high-likelihood-says-yao-yang?utm_source=rss_feed Thu, 08 May 2025 07:22:01 +0000 It’s been a sunny week for China’s electric vehicle makers, which have otherwise endured a gloomy year of brutal price wars that have cut into profit margins across the industry and left some scrambling to survive. Shenzhen-headquartered BYD this week took the wraps off new technology that promises charging speeds similar to the time it takes to fill up a petrol-powered car. In just five minutes, its Super e-Platform will offer peak charging power of 1MW, enough juice for an EV to run for 400km.... https://www.scmp.com/plus/article/3303131/fast-charging-battery-juices-byd-stock-and-chinas-ev-sector-hopes?utm_source=rss_feed https://www.scmp.com/plus/article/3303131/fast-charging-battery-juices-byd-stock-and-chinas-ev-sector-hopes?utm_source=rss_feed Thu, 20 Mar 2025 09:01:19 +0000 Yujie Xue Yujie Xue Chinese electric vehicle (EV) maker Xpeng said the robotics industry will become larger than the automotive sector in the next few years, though it added that it might take a half-decade before humanoid robots are available in households. “Regarding robotics, I think it is probably going to be the biggest future industry, bigger than automotive in some ways because of the vast numbers and also the utility scenarios that can be deployed,” said Brian Gu Hongdi, Xpeng’s vice-chairman and... https://www.scmp.com/business/article/3303018/xpeng-says-robotics-industry-will-get-bigger-automotive-sector-next-few-years?utm_source=rss_feed https://www.scmp.com/business/article/3303018/xpeng-says-robotics-industry-will-get-bigger-automotive-sector-next-few-years?utm_source=rss_feed Wed, 19 Mar 2025 11:00:41 +0000 Yujie Xue Yujie Xue Shares of BYD, the world’s largest maker of electric vehicles (EVs), surged on Tuesday after the company unveiled a new charging and battery system that it said could power up EVs as quickly as refuelling a petrol-powered car. BYD’s shares in Hong Kong jumped more than 6 per cent to HK$408 shortly after the market opened on Tuesday and closed up 4.1 per cent to HK$401.40. The stock has gained 55 per cent this year. The Shenzhen-headquartered carmaker’s Super e-Platform, unveiled on Monday during... https://www.scmp.com/business/china-evs/article/3302785/chinese-ev-maker-byds-shares-surge-unveiling-fast-pumping-gas-charging-tech?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3302785/chinese-ev-maker-byds-shares-surge-unveiling-fast-pumping-gas-charging-tech?utm_source=rss_feed Tue, 18 Mar 2025 04:11:56 +0000 Zhou Xin,Leopold Chen Zhou Xin,Leopold Chen China’s leading technology entrepreneurs, including Huawei Technologies founder Ren Zhengfei and Xiaomi founder Lei Jun, voiced their confidence in the country’s development prospects at a symposium chaired by President Xi Jinping this week. Ren, the face of China’s resilience against US hostilities in technology, told Xi that concerns had eased over China's lack of home-grown chips and operating systems – the “heart and soul” of modern technology – according to a report from the People’s Daily... https://www.scmp.com/tech/big-tech/article/3299599/what-did-chinas-tech-entrepreneurs-tell-xi-jinping-symposium?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3299599/what-did-chinas-tech-entrepreneurs-tell-xi-jinping-symposium?utm_source=rss_feed Fri, 21 Feb 2025 07:09:18 +0000 Ann Cao Ann Cao Yu Renrong, the only semiconductor executive to attend a symposium hosted by Xi Jinping with other Chinese entrepreneurs earlier this week, has quickly become the face of the nation’s chipmakers. In a video released by the mainland’s state broadcaster CCTV, the 58-year-old founder of Shanghai-listed Will Semiconductor – wearing a black coat – was seen sitting alongside Xiaomi founder Lei Jun and BYD founder Wang Chuanfu, while delivering a speech with papers in his hands. He was one of six... https://www.scmp.com/tech/big-tech/article/3299331/who-yu-renrong-chinas-only-chip-industry-representative-xi-jinpings-symposium?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3299331/who-yu-renrong-chinas-only-chip-industry-representative-xi-jinpings-symposium?utm_source=rss_feed Wed, 19 Feb 2025 23:00:08 +0000 Zhang Shidong Zhang Shidong President Xi Jinping’s meeting with China’s most influential tycoons has injected optimism into the world-beating stock market rally in Hong Kong, with analysts from Morgan Stanley and UBS calling it the end of regulatory crackdown on the tech sector. The appearance of Jack Ma, a co-founder of Alibaba Group Holding, delivered a clear-cut signal of the shift in Beijing’s policy toward the industry and the broader private sector, indicating a wrapping up of the campaign, Morgan Stanley said. UBS’s... https://www.scmp.com/business/china-business/article/3299134/xis-meeting-jack-ma-tech-bosses-tonic-us245-billion-hong-kong-bull-run?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3299134/xis-meeting-jack-ma-tech-bosses-tonic-us245-billion-hong-kong-bull-run?utm_source=rss_feed Tue, 18 Feb 2025 07:45:31 +0000 When President Xi Jinping brought together China’s most prominent entrepreneurs for a high-profile symposium, markets and industry observers the world over were watching. News of the symposium had garnered a great deal of attention, as such a meeting had not taken place since late 2018. In the years after that gathering, a series of seismic economic shifts – including several strict regulatory crackdowns – hampered investor confidence and deflated analysts’ outlooks for the future of the... https://www.scmp.com/economy/china-economy/article/3299118/has-xi-jinping-brought-chinas-private-sector-back-fold?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3299118/has-xi-jinping-brought-chinas-private-sector-back-fold?utm_source=rss_feed Tue, 18 Feb 2025 06:28:52 +0000 President Xi Jinping hosted a meeting with China’s top entrepreneurs on Monday – the first gathering of its kind since 2018 – in a highly anticipated event that signalled Beijing’s clear support to the private sector, particularly the tech industry. The government’s core principles and policies for the private economy, which are firmly integrated into the socialist system, will remain steadfast and unwavering, Xi was quoted as saying, according to Xinhua. “These policies will not change,” he... https://www.scmp.com/economy/china-economy/article/3298944/xi-hosts-symposium-chinas-top-entrepreneurs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3298944/xi-hosts-symposium-chinas-top-entrepreneurs?utm_source=rss_feed Mon, 17 Feb 2025 04:06:46 +0000 Yujie Xue Yujie Xue BYD’s venture into autonomous driving is expected to solidify its leading position in China’s auto sector and spur other car makers to offer more low-cost smart driving solutions, analysts said. “BYD has now gone from 0 to 1 in [autonomous driving] development, which will accelerate the adoption rate of the function in the mass market and lead to a wave of upgrades by existing users,” Johnson Wan, an analyst at Jefferies, said in a report on Tuesday. On Monday, Shenzhen-based BYD hosted a launch... https://www.scmp.com/business/china-evs/article/3298184/byd-moves-autonomous-tech-boost-sales-make-smart-driving-more-popular-analysts?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3298184/byd-moves-autonomous-tech-boost-sales-make-smart-driving-more-popular-analysts?utm_source=rss_feed Tue, 11 Feb 2025 05:26:04 +0000 Daniel Ren Daniel Ren BYD plans to offer an autopilot system in nearly all its cars for free, making autonomous driving affordable to all mainland Chinese customers as the world’s largest electric-vehicle (EV) maker seeks a competitive edge in an escalating price war. At least 21 models – including the Seagull hatchback priced from as low as 69,800 yuan (US$9,554) – will be fitted with its indigenous advanced driver assistance system, or ADAS, which enables cars to navigate on highways and conduct self-parking, the... https://www.scmp.com/business/china-business/article/3298118/byd-add-autopilot-system-evs-gain-edge-amid-chinas-price-war?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3298118/byd-add-autopilot-system-evs-gain-edge-amid-chinas-price-war?utm_source=rss_feed Mon, 10 Feb 2025 13:49:32 +0000 Apple chief executive Tim Cook’s whistle-stop tour of Shanghai has put the spotlight on three key suppliers in mainland China, as the US tech giant looks to soothe concerns of a manufacturing supply chain shift out of the world’s second-largest economy. At Apple’s office in Shanghai, Cook on Wednesday met two billionaire company founders: Wang Chuanfu, the chairman and chief executive of the world’s largest electric vehicle maker BYD, and Zhou Qunfei, the chairwoman and chief executive of touch... https://www.scmp.com/tech/big-tech/article/3256260/apple-ceo-tim-cook-meets-byd-other-key-mainland-suppliers-shanghai-us-tech-giant-opens-57th-china?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3256260/apple-ceo-tim-cook-meets-byd-other-key-mainland-suppliers-shanghai-us-tech-giant-opens-57th-china?utm_source=rss_feed Thu, 21 Mar 2024 13:00:18 +0000 Apple chief executive Tim Cook on Wednesday met Chinese video game developers, a filmmaker and the billionaire founder of BYD in Shanghai, ahead of the company’s new store opening in the city, as the US tech giant goes on a charm offensive amid weak iPhone sales in the world’s largest smartphone market. This marks the latest visit to mainland China by Cook, who is expected to take part in the state-organised China Development Forum in Beijing over the weekend. Cook met developers from... https://www.scmp.com/tech/big-tech/article/3256130/apple-ceo-tim-cook-goes-charm-offensive-china-amid-weak-iphone-sales-worlds-largest-smartphone?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3256130/apple-ceo-tim-cook-goes-charm-offensive-china-amid-weak-iphone-sales-worlds-largest-smartphone?utm_source=rss_feed Wed, 20 Mar 2024 14:00:12 +0000 BYD, the world’s largest electric vehicle (EV) maker, plans to buy back 400 million yuan (US$55.56 million) worth of its mainland-listed shares, with the aim of lifting the company’s stock price amid concerns about escalating competition in China. Shenzhen-based BYD, backed by Warren Buffett’s Berkshire Hathaway, will tap its own cash reserves to repurchase at least 1.48 million yuan-denominated A shares, or about 0.05 per cent of its total, before cancelling them, according to the company’s... https://www.scmp.com/business/china-business/article/3254426/chinas-byd-spend-us55-million-buy-back-shenzhen-listed-shares-worlds-largest-ev-maker-eyes-higher?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3254426/chinas-byd-spend-us55-million-buy-back-shenzhen-listed-shares-worlds-largest-ev-maker-eyes-higher?utm_source=rss_feed Wed, 06 Mar 2024 13:24:38 +0000 BYD, the world’s largest electric-vehicle (EV) maker, has started taking orders for the Yangwang U9, pricing the all-electric supercar at 1.68 million yuan (US$233,400), as it tries to lure rich Chinese consumers away from high-end foreign carmakers such as Ferrari and Lamborghini. The U9, which can reach a top speed of 309 kilometres per hour, is expected to be delivered to buyers in the middle of 2024, helping the Shenzhen-based company, better known for making mass-model EVs, to showcase its... https://www.scmp.com/business/china-business/article/3253208/china-evs-byd-looking-take-ferrari-lamborghini-yangwang-u9-supercar?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3253208/china-evs-byd-looking-take-ferrari-lamborghini-yangwang-u9-supercar?utm_source=rss_feed Mon, 26 Feb 2024 07:00:51 +0000 BYD, the world’s largest electric-vehicle (EV) maker, has launched a new version of its plug-in hybrid model the Qin Plus DM-i, pricing it lower than bestselling petrol-powered cars like Volkswagen’s Lavida and Toyota’s Corolla. The company, backed by Warren Buffett’s Berkshire Hathaway, said on Monday that the new variant, known as the Glory Edition, aims to accelerate customers’ conversion from fossil fuel-powered vehicles to EVs amid a slowing economy. The new version starts at 79,800 yuan... https://www.scmp.com/business/china-business/article/3252472/chinas-byd-launches-cheaper-plug-hybrid-ev-lure-customers-away-petrol-powered-rivals-volkswagen?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3252472/chinas-byd-launches-cheaper-plug-hybrid-ev-lure-customers-away-petrol-powered-rivals-volkswagen?utm_source=rss_feed Mon, 19 Feb 2024 13:30:12 +0000 BYD, the world’s largest electric vehicle (EV) maker, will invest 100 billion yuan (US$14 billion) in smart cars, as the company expects intelligent new energy vehicles to be the next battlefield for the industry, founder and CEO Wang Chuanfu said. He was speaking at the company’s Dream Day event in Shenzhen on Tuesday to launch its smart car system, Xuanji. The system integrates several technologies BYD has developed in both vehicle intelligence and electrification, including cloud-based... https://www.scmp.com/business/china-business/article/3248710/china-evs-byd-plans-us14-billion-investment-develop-smart-cars-seen-next-battlefield?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3248710/china-evs-byd-plans-us14-billion-investment-develop-smart-cars-seen-next-battlefield?utm_source=rss_feed Wed, 17 Jan 2024 04:17:28 +0000 Chinese electric vehicle giant BYD is in final talks with the Hungarian government to secure a multibillion-euro investment in a new electric car factory, in a deal that could be announced as early as Friday, the Financial Times reported on Thursday. The company is looking to manufacture electric cars and batteries at a new plant in Szeged, in the south of Hungary, the Times report said, citing three people briefed on the plans. BYD already has a bus facility in the country, but is investing in... https://www.scmp.com/news/china/article/3245938/byd-set-announce-hungarian-electric-vehicle-factory?utm_source=rss_feed https://www.scmp.com/news/china/article/3245938/byd-set-announce-hungarian-electric-vehicle-factory?utm_source=rss_feed Thu, 21 Dec 2023 19:09:21 +0000 Charlie Munger, Warren Buffett’s trusted lieutenant who helped to build Berkshire Hathaway into a US$784 billion investment behemoth from a failing textile company, has died. The Berkshire vice-chairman was 99. A former lawyer, Munger was a value investor who believed in the philosophy of long-term investments and companies’ intrinsic value. In their years together, the canny investment duo picked out dozens of winners, turning them into demigods in the eyes of adoring investors. Their Midas... https://www.scmp.com/business/china-business/article/3243223/byd-alibaba-shanghai-jahwa-warren-buffetts-deputy-charlie-munger-leaves-behind-trail-legendary-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3243223/byd-alibaba-shanghai-jahwa-warren-buffetts-deputy-charlie-munger-leaves-behind-trail-legendary-china?utm_source=rss_feed Wed, 29 Nov 2023 07:52:59 +0000 BYD, the world’s largest electric vehicle (EV) maker, reported on Monday its highest ever quarterly profit for the period ending September, buoyed by surging deliveries and a cost-cutting campaign driven by its greater control over its supply chain. The Shenzhen-based company, which is backed by Warren Buffett’s Berkshire Hathaway, said in a filing to both the Shenzhen and Hong Kong stock exchanges, that net income between July and September stood at 10.4 billion yuan (US$1.4 billion), which is... https://www.scmp.com/business/china-business/article/3239716/byds-third-quarter-profit-soars-record-after-beating-tesla-and-others-ev-deliveries-capping-costs?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3239716/byds-third-quarter-profit-soars-record-after-beating-tesla-and-others-ev-deliveries-capping-costs?utm_source=rss_feed Mon, 30 Oct 2023 13:45:10 +0000 BYD, the world’s largest electric vehicle (EV) maker, expects its third-quarter earnings to hit an all-time high after it delivered a record number of cars to Chinese consumers. The Shenzhen-based company, which is backed by Warren Buffett’s Berkshire Hathaway, said in a filing to both the Shenzhen and Hong Kong stock exchanges on Tuesday that its third-quarter earnings could reach 9.55 billion yuan (US$1.3 billion) to 11.55 billion yuan, an increase of 67 to 102 per cent from the same period a... https://www.scmp.com/business/china-business/article/3238292/byd-expects-third-quarter-earnings-more-double-hit-all-time-high?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3238292/byd-expects-third-quarter-earnings-more-double-hit-all-time-high?utm_source=rss_feed Tue, 17 Oct 2023 23:00:08 +0000 BYD is mulling the purchase of lithium mining assets in Brazil as it seeks to lock in raw-material supplies to expand its electric vehicle (EV) production outside Asia. The Chinese company’s new EV factory in Brazil will include a unit to process lithium and iron phosphate for the international market and BYD hopes it will be able to finish work in less than two years, according to Stella Li, BYD’s global vice-president. “We prefer to buy any available and affordable resource, but it needs to be... https://www.scmp.com/business/companies/article/3237768/chinas-byd-eyes-lithium-assets-brazil-ev-raw-material-push?utm_source=rss_feed https://www.scmp.com/business/companies/article/3237768/chinas-byd-eyes-lithium-assets-brazil-ev-raw-material-push?utm_source=rss_feed Fri, 13 Oct 2023 02:09:35 +0000 BYD, the world’s largest electric vehicle (EV) maker, is making inroads into Central Asia with plans to set up a factory in Uzbekistan. The Shenzhen-based carmaker backed by Warren Buffett’s Berkshire Hathaway said that its joint venture with Uzavtosanoat JSC will produce cars starting next year. “Production will commence in Jizzakh in 2024, starting with two bestselling BYD plug-in hybrid models, the BYD Chazor and the BYD Song Plus DM-i,” BYD said in a statement on Monday evening. “It marks an... https://www.scmp.com/business/china-business/article/3237416/chinas-byd-steps-globalisation-strategy-electric-car-plant-uzbekistan-targeting-central-asia?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3237416/chinas-byd-steps-globalisation-strategy-electric-car-plant-uzbekistan-targeting-central-asia?utm_source=rss_feed Tue, 10 Oct 2023 07:18:55 +0000 The European Union is scrambling to answer SOS calls from its hi-tech industries to fend off the challenge of China’s manufacturing juggernaut. From electric vehicles (EVs) and solar panels to wind turbines and hi-tech batteries, European businesses say they are being eaten alive by Chinese imports sold well below market rates. This is not a new problem: the EU and European businesses have long railed against what they see as market-distorting subsidies. But industry figures say the problem has... https://www.scmp.com/news/china/diplomacy/article/3234790/now-or-never-european-drive-head-influx-cheaper-chinese-electric-cars?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3234790/now-or-never-european-drive-head-influx-cheaper-chinese-electric-cars?utm_source=rss_feed Sat, 16 Sep 2023 14:30:16 +0000 BYD, the world’s largest electric-vehicle maker, reported a 145 per cent jump in second-quarter profit, buoyed by record deliveries in the face of a heightened price war in mainland China that also ate into its margins. The Shenzhen-based company’s net profit for the three months ended June rose to 6.8 billion yuan (US$933 million), in line with market expectations, according to a filing to the Hong Kong stock exchange on Tuesday evening. It was BYD’s second-highest quarterly profit after the... https://www.scmp.com/business/china-business/article/3232634/china-evs-byd-interim-profit-soars-145-record-deliveries-bruising-competition-shaves-profit-margin?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3232634/china-evs-byd-interim-profit-soars-145-record-deliveries-bruising-competition-shaves-profit-margin?utm_source=rss_feed Tue, 29 Aug 2023 02:14:51 +0000 BYD, the world’s largest electric vehicle (EV) builder, has launched a new premium brand that will pit the Chinese carmaker against the likes of Toyota’s Prado, Land Rover and Porsche. Wang Chuanfu, founder and chairman of Shenzhen-based BYD, told a press conference on Wednesday that the new Fang Cheng Bao brand will offer electric off-road-capable sport-utility vehicles (SUVs) and sports cars, aiming not only to meet drivers’ transport needs but also cater to their need to display their status... https://www.scmp.com/business/china-business/article/3231360/chinas-byd-challenge-land-rover-porsche-new-ev-brand-fang-cheng-bao-offering-suvs-sports-cars?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3231360/chinas-byd-challenge-land-rover-porsche-new-ev-brand-fang-cheng-bao-offering-suvs-sports-cars?utm_source=rss_feed Thu, 17 Aug 2023 04:00:14 +0000 BYD founder and chairman Wang Chuanfu has pledged that his company will not only grow market share outside mainland China but also crack into the top tier of carmakers worldwide, commanding the same recognition and esteem as global household names. “China has yet to create a single international marquee of its own that is universally recognised and respected,” Wang said at a ceremony to witness BYD’s 5 millionth electric vehicle (EV) rolling off the production line in Shenzhen. “It is time for... https://www.scmp.com/business/china-business/article/3230566/chinese-carmakers-will-upend-global-auto-industry-says-byd-founder-wang-chuanfu-company-makes-5?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3230566/chinese-carmakers-will-upend-global-auto-industry-says-byd-founder-wang-chuanfu-company-makes-5?utm_source=rss_feed Wed, 09 Aug 2023 22:00:20 +0000 Warren Buffett-backed BYD launched a new premium sport-utility vehicle (SUV) via its venture with Mercedes-Benz, as the world’s largest maker of electric vehicles (EVs) tries to climb up the value chain and take on Li Auto’s bestselling L8. Shenzhen Denza New Energy Automotive, which is 90 per cent owned by BYD, began taking orders for its plug-in-hybrid N8 model on Sunday, just one month after its previous model, the pure-electric N7, hit the mainland China market. “Launching two production... https://www.scmp.com/business/china-business/article/3230294/chinese-ev-maker-byd-challenges-rival-li-auto-launch-second-premium-suv-month-mercedes-benz-venture?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3230294/chinese-ev-maker-byd-challenges-rival-li-auto-launch-second-premium-suv-month-mercedes-benz-venture?utm_source=rss_feed Mon, 07 Aug 2023 12:13:40 +0000 BYD’s go-global drive has hit a speed bump after its proposal to build a US$1 billion car and battery manufacturing plant with a local partner in India was rejected by the South Asian nation on security grounds, according to a local newspaper report. The world’s largest electric vehicle (EV) maker had planned to send a team of officials to push ahead with the investment, but India’s visa ban on Chinese tourists prevented BYD from making further lobbying efforts, The Economic Times reported,... https://www.scmp.com/business/china-business/article/3228769/byds-go-global-strategy-dealt-setback-after-india-investment-plan-rejected-security-grounds-report?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3228769/byds-go-global-strategy-dealt-setback-after-india-investment-plan-rejected-security-grounds-report?utm_source=rss_feed Mon, 24 Jul 2023 13:00:23 +0000 BYD, the world’s largest electric vehicle (EV) maker, has launched virtual showrooms in two South American countries as the Chinese company backed by Warren Buffett’s Berkshire Hathaway accelerates its go-global drive. The Shenzhen-based carmaker said in a statement on Wednesday that the so-called BYD World – an interactive virtual dealership powered by technology from US company MeetKai – made its debut in Ecuador on Tuesday and Chile the next day. In a few weeks, it will be available in all... https://www.scmp.com/business/china-business/article/3227474/chinese-carmaker-byd-launches-virtual-showrooms-latin-america-reinforce-go-global-push-and-hone?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3227474/chinese-carmaker-byd-launches-virtual-showrooms-latin-america-reinforce-go-global-push-and-hone?utm_source=rss_feed Wed, 12 Jul 2023 12:30:33 +0000 BYD, the world’s largest electric vehicle (EV) maker, plans to invest US$620 million in an industrial complex in Brazil’s northeastern Bahia state, accelerating its globalisation drive after setting a sales record in mainland China last month. The Shenzhen-based carmaker backed by Warren Buffett’s Berkshire Hathaway said in a statement on Wednesday that the project, comprising three plants, will start operations in the second half of 2024. The complex will be built on land previously occupied by... https://www.scmp.com/business/china-business/article/3226664/byd-invest-us620-million-industrial-complex-northeastern-brazil-produce-affordable-vehicles-and?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3226664/byd-invest-us620-million-industrial-complex-northeastern-brazil-produce-affordable-vehicles-and?utm_source=rss_feed Wed, 05 Jul 2023 12:00:08 +0000 Berkshire Hathaway, the investment firm controlled by US billionaire Warren Buffett, has continued to trim its stake in BYD, selling 1.96 million shares in the Chinese electric-vehicle (EV) maker, in at least the 11th reduction since August. The shares were sold for HK$462.1 million (US$58.9 million) on May 2 at an average price of HK$235.64 per share, according to exchange data. After the divestment, the Omaha, Nebraska-based investment firm’s interest in BYD dropped to 9.87 per cent from 10.05... https://www.scmp.com/business/banking-finance/article/3219836/buffetts-berkshire-hathaway-cuts-stake-worlds-no-1-ev-maker-byd-again-selling-196-million-shares?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3219836/buffetts-berkshire-hathaway-cuts-stake-worlds-no-1-ev-maker-byd-again-selling-196-million-shares?utm_source=rss_feed Mon, 08 May 2023 13:21:51 +0000 Chinese tech giants and electric vehicle (EV) makers are in a heated race to find breakthroughs in autonomous driving, which analysts and company executives say remains years away from consumer applications. At this year’s Shanghai Auto Show, China’s largest car exhibition that concluded last Thursday, the country’s major home-grown EV makers showcased their progress in autonomous technologies. Li Auto, a Beijing-based EV maker, revealed its new City NOA (Navigation on ADAS – advanced... https://www.scmp.com/tech/big-tech/article/3218922/amid-race-self-driving-tech-chinas-ev-makers-face-tough-choice-commercialise-existing-systems-or?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3218922/amid-race-self-driving-tech-chinas-ev-makers-face-tough-choice-commercialise-existing-systems-or?utm_source=rss_feed Mon, 01 May 2023 08:00:18 +0000 In the final instalment of a four-part series on China’s electric vehicles (EV), Daniel Ren and Pearl Liu look at the features, specifications and capabilities of the perfect battery-powered car for the world’s largest and fastest-growing automobile market. A war of words broke out between two of China’s best-known technology entrepreneurs over social media on the eve of the 2023 Shanghai Auto Show, and became one of the defining topics of last week’s marquee event in the world’s largest vehicle... https://www.scmp.com/business/china-business/article/3218745/what-does-chinas-perfect-ev-look-it-must-be-smart-handy-and-have-stamina-go-distance?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3218745/what-does-chinas-perfect-ev-look-it-must-be-smart-handy-and-have-stamina-go-distance?utm_source=rss_feed Fri, 28 Apr 2023 22:00:10 +0000 BYD, the world’s largest electric vehicle (EV) maker, got off to a bumpy start in 2023 as its net profit in the first three months declined 43.5 per cent on a quarterly basis amid a simmering price war in China’s automotive industry. The Shenzhen-based carmaker, backed by Warren Buffett’s Berkshire Hathaway, reported on Thursday that its net profit between January and March fell to 4.13 billion yuan (US$596.28 million) from an all-time high of 7.3 billion yuan in the fourth quarter of 2022. The... https://www.scmp.com/business/china-business/article/3218627/byd-profit-plunges-435-cent-chinas-car-market-price-war-breaks-three-quarter-winning-streak?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3218627/byd-profit-plunges-435-cent-chinas-car-market-price-war-breaks-three-quarter-winning-streak?utm_source=rss_feed Thu, 27 Apr 2023 15:01:07 +0000 Hong Kong’s leader is open to reviewing the use of a mainland Chinese-made mass transit system to revive a mothballed monorail project in Kowloon East, he has said, after lawmakers raised the idea during a tour of the Greater Bay Area. The legislators made the suggestion on Saturday after visiting the headquarters of Shenzhen-based electric vehicle maker BYD Auto as part of the second day of a trip to the bay area. Chief Executive John Lee Ka-chiu told reporters he had adopted an “active and... https://www.scmp.com/news/hong-kong/health-environment/article/3217991/hong-kongs-john-lee-open-using-mainland-chinese-transit-link-revive-scrapped-kowloon-east-monorail?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3217991/hong-kongs-john-lee-open-using-mainland-chinese-transit-link-revive-scrapped-kowloon-east-monorail?utm_source=rss_feed Sat, 22 Apr 2023 10:29:34 +0000