https://www.scmp.com/rss/519589/feed China is the global leader in EVs, accounting for more than half of total sales worldwide. Supported by generous subsidies and expanding charging networks, EV adoption has skyrocketed in recent years. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren One in every six Asia-Pacific companies would face credit pressure from a prolonged energy shock arising from the Middle East conflict, as they deal with higher costs from rising oil prices and supply disruptions, according to S&P Global Ratings. Companies in the fields of downstream oil and gas, aviation, automotive, engineering and construction, and building materials would bear the brunt of the pain brought on by the war that has already sent crude prices up more than 30 per cent since the... https://www.scmp.com/business/banking-finance/article/3350357/one-six-asia-pacific-firms-faces-credit-pressure-iran-war-energy-shock-sp-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350357/one-six-asia-pacific-firms-faces-credit-pressure-iran-war-energy-shock-sp-says?utm_source=rss_feed Thu, 16 Apr 2026 23:00:13 +0000 Daniel Ren Daniel Ren Ganfeng Lithium, the world’s largest producer of lithium metal, has issued a strong profit forecast for the first quarter of this year as soaring demand for electric vehicles (EVs) and energy storage system (ESS) batteries lifted earnings. The company, based in China’s central Jiangxi province, said in an exchange filing on Thursday that increasing orders had driven up prices of lithium – a key material for EV and ESS batteries – helping it post an estimated profit of 1.6 billion yuan (US$234... https://www.scmp.com/business/banking-finance/article/3350364/chinas-lithium-giant-ganfeng-sees-profit-jump-demand-evs-and-ess-batteries-soars?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350364/chinas-lithium-giant-ganfeng-sees-profit-jump-demand-evs-and-ess-batteries-soars?utm_source=rss_feed Thu, 16 Apr 2026 14:40:24 +0000 Zhang Shidong Zhang Shidong Contemporary Amperex Technology Limited (CATL), the world’s largest producer of electric vehicle (EV) batteries, rallied to lift its market capitalisation above 2 trillion yuan (US$293.4 billion) after creating a subsidiary to manage its mining assets, signalling a deeper push into the energy storage business. Its Shenzhen-listed shares rose 5.3 per cent to 453.98 yuan on Thursday, At 2.07 trillion yuan, the company ranks as the mainland’s fifth-largest listed firm, Shanghai DZH data shows. Its... https://www.scmp.com/business/china-business/article/3350269/catl-market-cap-tops-us293-billion-shares-surge-mining-arm?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350269/catl-market-cap-tops-us293-billion-shares-surge-mining-arm?utm_source=rss_feed Thu, 16 Apr 2026 06:11:18 +0000 Daniel Ren Daniel Ren Contemporary Amperex Technology Ltd (CATL), China’s electric vehicle (EV) battery king, plans to earmark 30 billion yuan (US$4.4 billion) to establish a subsidiary to manage and expand mining assets, after the global energy shock paved the way for a quicker entry into the world’s automotive and energy storage system (ESS) markets. The investment arm, in line with CATL’s long-term growth strategy, would integrate existing mining assets, pursue high-quality mineral projects at home and abroad, and... https://www.scmp.com/business/china-business/article/3350213/chinas-catl-invest-us44-billion-mining-arm-secure-ev-battery-supply-chain?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350213/chinas-catl-invest-us44-billion-mining-arm-secure-ev-battery-supply-chain?utm_source=rss_feed Wed, 15 Apr 2026 13:50:49 +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 outraces China’s BYD in pure electric car sales to regain world’s top spot Tesla has regained the global pure electric vehicle (EV) crown for the first time since the fourth quarter of 2024, after its deliveries rose 6.5 per cent year on year in the three months ending March. 2.... https://www.scmp.com/business/china-evs/article/3350112/brazil-blacklists-chinas-byd-how-batteries-might-get-quality-upgrade-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3350112/brazil-blacklists-chinas-byd-how-batteries-might-get-quality-upgrade-7-ev-reads?utm_source=rss_feed Wed, 15 Apr 2026 07:30:08 +0000 Daniel Ren Daniel Ren Tesla’s Shanghai Gigafactory, its largest production base, has the potential to build humanoid robots in future, the company’s China president says, with its manufacturing efficiency and innovative capability seen as potential drivers of CEO Elon Musk’s hopes of commercialising the technology swiftly. Allan Wang Hao said in a media briefing on Tuesday that the Shanghai Gigafactory could provide a “golden key” to the mass production of robots designed to resemble and move like humans. “Like other... https://www.scmp.com/business/china-business/article/3350076/shanghai-gigafactory-has-potential-construct-humanoid-robots-tesla-china-president?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350076/shanghai-gigafactory-has-potential-construct-humanoid-robots-tesla-china-president?utm_source=rss_feed Tue, 14 Apr 2026 13:02:53 +0000 Yulu Ao,Daniel Ren Yulu Ao,Daniel Ren Chinese electric vehicle (EV) stocks rallied against a falling broader market in Hong Kong on Monday, as strong export data and rising oil prices bolstered the appeal of battery-powered and hybrid cars while a coming wave of model launches sparked hopes of a domestic demand recovery. Nio surged 7.5 per cent to HK$52.40 on Monday, while BYD climbed 5 per cent to HK$110.30, the highest since October 2. Xpeng advanced 0.9 per cent to HK$67.60, and Zhejiang Leapmotor Technology added 1.6 per cent to... https://www.scmp.com/business/china-business/article/3349858/chinese-ev-stocks-jump-surging-exports-hopes-domestic-demand-recovery?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349858/chinese-ev-stocks-jump-surging-exports-hopes-domestic-demand-recovery?utm_source=rss_feed Mon, 13 Apr 2026 06:00:19 +0000 Daniel Ren Daniel Ren A pivotal year for self-driving cars has begun in China, with the first “hands off” models approved to ply public roads, carmakers gearing up to mass-produce them and the first mandatory safety standards for autonomous vehicles out for public comment. The first carmakers were given the go-ahead in mid-December to build electric vehicle (EV) models with Level 3 (L3) autonomous driving capability. On an international scale from L0 to L5, an L3 autonomous vehicle can operate independently under... https://www.scmp.com/plus/business/china-evs/article/3349837/chinese-carmakers-gear-l3-self-driving-roll-out?utm_source=rss_feed https://www.scmp.com/plus/business/china-evs/article/3349837/chinese-carmakers-gear-l3-self-driving-roll-out?utm_source=rss_feed Mon, 13 Apr 2026 03:40:07 +0000 Peggy Ye Peggy Ye Chinese carmakers are rapidly gaining ground in Europe, squeezing out Asian rivals such as Japan and South Korea as exports to the region surge past 1 million units for the first time, according to an industry report. Imports of Chinese-made cars into the European Union in 2025 jumped 30.7 per cent from a year earlier to 1.006 million vehicles, according to the report published by the European Automobile Manufacturers’ Association, known as the ACEA, on April 2. The value of those imports,... https://www.scmp.com/business/china-evs/article/3349794/chinese-carmakers-squeeze-out-asian-rivals-europe-exports-top-1-million-units?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3349794/chinese-carmakers-squeeze-out-asian-rivals-europe-exports-top-1-million-units?utm_source=rss_feed Sun, 12 Apr 2026 23:00:20 +0000 Themis Qi Themis Qi While China’s electric vehicle (EV) makers are struggling amid fierce competition, battery giant Contemporary Amperex Technology Ltd (CATL) is consolidating its dominance, building its profits while erecting technological barriers to increase its pricing power. Amid the oil crisis, CATL’s market capitalisation hit an all-time high of HK$2.7 trillion (US$345 billion) on Monday, after its shares rewrote records multiple times in both Shenzhen and Hong Kong, touching 433.33 yuan and HK$701,... https://www.scmp.com/business/china-evs/article/3349723/how-chinas-ev-battery-king-catl-powers-profits-while-ev-makers-struggle?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3349723/how-chinas-ev-battery-king-catl-powers-profits-while-ev-makers-struggle?utm_source=rss_feed Sun, 12 Apr 2026 23:00:13 +0000 Daniel Ren Daniel Ren Hyundai Motor has spearheaded a comeback among foreign marques vying for a slice of the Chinese electric vehicle (EV) market, launching a new brand built around local technologies and partnerships. The South Korean carmaker, which reversed a six-year sales decline in 2025, said it would soon introduce production models under the Ioniq brand tailored for Chinese consumers, as it steps up its push into the world’s largest automotive market. “The newly launched Ioniq brand in China evolves beyond a... https://www.scmp.com/business/china-business/article/3349776/hyundai-spearheads-foreign-ev-comeback-push-china-ioniq-brand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349776/hyundai-spearheads-foreign-ev-comeback-push-china-ioniq-brand?utm_source=rss_feed Sun, 12 Apr 2026 05:20:54 +0000 Themis Qi Themis Qi Three solid-state battery developers across China and the US are moving towards initial public offerings (IPOs), as geopolitical tensions and elevated oil prices fuel demand for more energy-efficient technologies. Qingtao (Kunshan) Energy Development Group became the latest to join the queue, filing for a Hong Kong listing on April 8. Earlier, Beijing WeLion New Energy began the pre-listing tutoring process ahead of a planned application to the Shenzhen Stock Exchange, while US-based Factorial... https://www.scmp.com/business/china-business/article/3349560/solid-state-battery-firms-china-and-us-line-ipos-oil-prices-lift-ev-appeal?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349560/solid-state-battery-firms-china-and-us-line-ipos-oil-prices-lift-ev-appeal?utm_source=rss_feed Fri, 10 Apr 2026 01:30:17 +0000 Themis Qi Themis Qi German automotive giant Volkswagen will launch three new electric vehicle (EV) models in mainland China over the next two weeks, developed using technology from Chinese firms. The move comes at a time when international marques are struggling on the mainland amid fierce competition in the world’s largest car market. As the largest foreign carmaker in China, Volkswagen previously said that it would integrate Germany’s high manufacturing standards with technology developed by Chinese firms. “We... https://www.scmp.com/business/china-evs/article/3349457/volkswagen-tests-chinas-appetite-locally-developed-evs?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3349457/volkswagen-tests-chinas-appetite-locally-developed-evs?utm_source=rss_feed Thu, 09 Apr 2026 03:57:03 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) batteries are set to become safer and more powerful, as carmakers including SAIC Motor and Chery Automobile outline road maps for the commercialisation of solid-state technology. Solid-state batteries – which use a solid electrolyte to conduct ions between electrodes – are widely seen as a superior alternative to conventional lithium-ion batteries that rely on liquid or gel-based materials. Analysts say the technology promises higher energy density, improved safety... https://www.scmp.com/business/china-business/article/3349348/safer-longer-range-evs-sight-china-accelerates-solid-state-battery-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349348/safer-longer-range-evs-sight-china-accelerates-solid-state-battery-push?utm_source=rss_feed Wed, 08 Apr 2026 08:00:08 +0000 Yujie Xue Yujie Xue China’s abundant renewable power and government support could bring a once prohibitively expensive green energy solution into the mainstream – hydrogen. Extensive access to low-cost solar and wind power could let the country produce huge quantities of hydrogen in an environmentally friendly and affordable manner. The government is also stoking demand for the zero-emission fuel, potentially creating incentives for investors to put money into the infrastructure needed for production and... https://www.scmp.com/plus/business/climate-and-energy/article/3348964/green-hydrogen-drive-may-help-china-reach-carbon-neutral-goal?utm_source=rss_feed https://www.scmp.com/plus/business/climate-and-energy/article/3348964/green-hydrogen-drive-may-help-china-reach-carbon-neutral-goal?utm_source=rss_feed Tue, 07 Apr 2026 01:00:19 +0000 Daniel Ren Daniel Ren A number of underperforming international car brands are likely to either exit the mainland Chinese market or scale down operations, as losses mount due to falling sales and shrinking market share. Carmakers delivering fewer than 1,000 units a month already faced a do-or-die situation in the world’s largest automotive market because the weak sales were not enough to cover their manufacturing and operating costs, according to analysts. Some carmakers are likely to follow Skoda, Volkswagen’s... https://www.scmp.com/business/china-business/article/3349083/more-foreign-marques-face-do-or-die-moment-chinese-buyers-shun-petrol-cars?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349083/more-foreign-marques-face-do-or-die-moment-chinese-buyers-shun-petrol-cars?utm_source=rss_feed Mon, 06 Apr 2026 08:00:09 +0000 Daniel Ren Daniel Ren Tesla has regained the global pure electric vehicle (EV) crown for the first time since the fourth quarter of 2024, after its deliveries rose 6.5 per cent year on year in the three months ending March. The modest increase was enough for the US carmaker to beat China’s EV king BYD, which posted a 25.5 per cent drop in sales during the first quarter of 2026. Tesla’s deliveries worldwide between January and March hit 358,023 units, it said in a statement on Thursday. Tesla builds only pure electric... https://www.scmp.com/business/china-business/article/3348898/tesla-outraces-chinas-byd-pure-electric-car-sales-regain-worlds-top-spot?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348898/tesla-outraces-chinas-byd-pure-electric-car-sales-regain-worlds-top-spot?utm_source=rss_feed Fri, 03 Apr 2026 06:00:12 +0000 Daniel Ren Daniel Ren Leapmotor, one of China’s strongest-performing electric vehicle (EV) makers this year, is accelerating its global push with a new innovation centre in Europe and plans for potential local assembly in Canada, as it looks to entrench production of its low-cost smart cars overseas. The Hangzhou-based carmaker, backed by Fiat owner Stellantis, has also raised its overseas sales target by 50 per cent, betting that higher fuel costs and easing trade barriers will bolster demand for Chinese-made... https://www.scmp.com/business/china-business/article/3348847/leapmotor-targets-global-growth-europe-rd-hub-eyes-canada-assembly?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348847/leapmotor-targets-global-growth-europe-rd-hub-eyes-canada-assembly?utm_source=rss_feed Fri, 03 Apr 2026 02:00:14 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) makers posted a strong rebound in sales last month, shaking off the weak start to the year as local government subsidies and aggressive financing incentives drew in first-time buyers. Momentum is expected to carry through the coming months, with dozens of new models set to debut at the Auto China show in Beijing, likely to stimulate fresh demand. “The sweeping improvement in deliveries revived hopes for a steady [EV] market after a woeful performance in January and... https://www.scmp.com/business/china-business/article/3348799/china-ev-makers-surge-back-march-subsidies-and-financing-spur-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348799/china-ev-makers-surge-back-march-subsidies-and-financing-spur-demand?utm_source=rss_feed Thu, 02 Apr 2026 10:00:12 +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. The Iran war could widen China’s EV lead over its global rivals. Here’s why Surging oil prices driven by the US-Israel war on Iran could accelerate the global adoption of electric vehicles – a sector that helped China overtake Japan to become the world’s largest seller of automobiles... https://www.scmp.com/business/china-evs/article/3348606/chinas-electric-cars-and-iran-war-byds-profit-run-ends-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348606/chinas-electric-cars-and-iran-war-byds-profit-run-ends-7-ev-reads?utm_source=rss_feed Wed, 01 Apr 2026 07:30:07 +0000 Daniel Ren Daniel Ren China’s Ganfeng Lithium, the world’s largest producer of lithium metal, is envisioning an “explosive growth” in the global energy storage system (ESS) market in 2026, spurred by higher prices of the key battery material and buoyant demand for renewable energy infrastructure. Executives including president Wang Xiaoshen told an investors’ conference on Tuesday that the global decarbonisation drive had created a strong and sustainable trajectory for Ganfeng, which swung from loss to profit last... https://www.scmp.com/business/china-business/article/3348628/ganfeng-lithium-forecasts-strong-battery-demand-amid-china-us-rivalry-renewable-energy?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348628/ganfeng-lithium-forecasts-strong-battery-demand-amid-china-us-rivalry-renewable-energy?utm_source=rss_feed Wed, 01 Apr 2026 07:00:21 +0000 Themis Qi Themis Qi The energy shock stemming from the Middle Eastern conflict may help Chinese electric-vehicle (EV) makers exceed their overseas expansion goals this year, according to analysts. “High oil prices – and even gasoline shortages in some countries – will accelerate the pace of China’s EV exports,” said Yale Zhang, managing director at the consultancy Automotive Foresight in Shanghai. “This oil crisis presents a historic opportunity for China’s EV industry, just as the oil crisis of the 1970s paved the... https://www.scmp.com/business/china-evs/article/3348561/middle-east-oil-shock-jolts-ev-demand-putting-chinese-exports-fast-lane?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348561/middle-east-oil-shock-jolts-ev-demand-putting-chinese-exports-fast-lane?utm_source=rss_feed Tue, 31 Mar 2026 23:30:08 +0000 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 Daniel Ren Daniel Ren Rising fuel costs triggered by the Middle East crisis are emerging as an unexpected tailwind for China’s electric vehicle (EV) makers, as consumers increasingly pivot towards battery-powered cars to avoid surging petrol bills. With Brent crude climbing past the psychologically significant US$100-a-barrel mark – and now trading above US$110 – mainland buyers are turning away from petrol vehicles, according to dealers and analysts. “It’s a no-brainer for me now,” said Wang Wenbo, a 25-year-old... https://www.scmp.com/business/companies/article/3348200/pain-pump-fuels-ev-rush-china-driving-timely-boost-carmakers?utm_source=rss_feed https://www.scmp.com/business/companies/article/3348200/pain-pump-fuels-ev-rush-china-driving-timely-boost-carmakers?utm_source=rss_feed Fri, 27 Mar 2026 13:00:18 +0000 Daniel Ren Daniel Ren Chinese self-driving technology firm Pony AI plans to launch robotaxi services with partners Uber Technologies and Verne in Zagreb, Croatia, spearheading commercialisation of autonomous cabs in Europe amid an accelerated go-global drive. The three companies aimed to operate a fleet of thousands of robotaxis in various European cities over the next few years after achieving consistent performance and safety, Guangzhou-based Pony said on Thursday. Neither the starting date for the service nor the... https://www.scmp.com/business/china-business/article/3348026/chinas-pony-ai-launch-robotaxi-service-europe-uber-local-start?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348026/chinas-pony-ai-launch-robotaxi-service-europe-uber-local-start?utm_source=rss_feed Thu, 26 Mar 2026 11:31:20 +0000 Themis Qi Themis Qi Volkswagen will withdraw its mass-market car brand Skoda from mainland China after years of lacklustre sales, as international marques continue to lose their appeal in the world’s largest automotive market. “Skoda Auto has realigned its global strategy to focus on growth markets such as India and the Asean region,” a Volkswagen spokesperson said on Thursday in a written response to the South China Morning Post, without denying earlier reports that the Czech brand would cease selling new vehicles... https://www.scmp.com/business/china-evs/article/3348007/vw-pulls-skoda-brand-china-after-years-falling-sales?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348007/vw-pulls-skoda-brand-china-after-years-falling-sales?utm_source=rss_feed Thu, 26 Mar 2026 10:30:08 +0000 Daniel Ren Daniel Ren China’s two biggest makers of lidar sensors for cars, Hesai Group and RoboSense Technology, have ramped up investments in robotics products as the country consolidates its leading position in building a global supply chain for the fast-growing sector. Shanghai-based Hesai, the world’s largest producer of lidar sensors that help cars map terrain, planned to spend 200 million yuan (US$28.9 million) this year to design and manufacture “eyes and muscles” for robots, creating a new growth engine... https://www.scmp.com/business/china-business/article/3347995/chinas-lidar-giants-pivot-robotics-jensen-huang-praises-chinese-supply-chain?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347995/chinas-lidar-giants-pivot-robotics-jensen-huang-praises-chinese-supply-chain?utm_source=rss_feed Thu, 26 Mar 2026 09:12:13 +0000 Themis Qi Themis Qi Rising memory-chip costs could reshape the smartphone industry, said Xiaomi president William Lu Weibing, after weak smartphone sales cut into the firm’s fourth-quarter profit. Memory prices were surging at a magnitude “beyond imagination”, drawing smartphone makers into a long-term price-raising cycle, Lu said on an earnings call on Tuesday. “When the price-raising cycle ends, some players may suffer significant losses or even face closure,” he said, without elaborating. However, the challenge... https://www.scmp.com/business/china-evs/article/3347728/xiaomi-profit-drops-27-weaker-smartphone-sales-chinese-firms-ev-growth-slows?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3347728/xiaomi-profit-drops-27-weaker-smartphone-sales-chinese-firms-ev-growth-slows?utm_source=rss_feed Tue, 24 Mar 2026 10:27:27 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma Chinese petrol prices rose the most since 2000, even after unprecedented government intervention, as the war in Iran upends global oil markets. Petrol went up by 1,160 yuan (US$169) per tonne at the end of Monday and diesel prices rose by 1,115 yuan, according to the National Development and Reform Commission (NDRC). The increases would have been about twice as high had the usual pricing rules been followed, it said. The roughly 11 per cent increases, the fifth this year, came after Iran closed... https://www.scmp.com/plus/economy/china-economy/article/3347712/china-ev-makers-gain-iran-war-drives-fuel-costs?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3347712/china-ev-makers-gain-iran-war-drives-fuel-costs?utm_source=rss_feed Tue, 24 Mar 2026 09:17:11 +0000 Carol Yang Carol Yang Surging oil prices driven by the US-Israel war on Iran could accelerate the global adoption of electric vehicles – a sector that helped China overtake Japan to become the world’s largest seller of automobiles last year. “The closure of the Strait of Hormuz could be a game-changer for EVs,” said David Brown, director of energy transition research at Wood Mackenzie, in a report released on Friday. The “eye-watering” 50 per cent surge in global oil prices so far this month would further incentivise... https://www.scmp.com/economy/china-economy/article/3347583/why-iran-war-could-be-game-changer-evs-and-chinas-car-industry?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347583/why-iran-war-could-be-game-changer-evs-and-chinas-car-industry?utm_source=rss_feed Tue, 24 Mar 2026 01:00:16 +0000 Themis Qi Themis Qi Three Chinese electric vehicle (EV) makers have raised prices for some models in response to rising supply chain costs, but analysts say the increases are unlikely to be sustained given weakening domestic demand. Xiaomi became the latest manufacturer to adjust pricing on March 19, announcing that its new-generation SU7 standard version would start at 219,900 yuan (US$31,800) – a 4,000 yuan increase over the previous model. Founder and CEO Lei Jun had attributed the rise to aggressive surges in... https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed Mon, 23 Mar 2026 23:30:08 +0000 Zhang Shidong Zhang Shidong Chinese stocks have emerged as outperformers in the latest oil shock, reversing their reputation as laggards, as crude takes a back seat to renewable fuels in the world’s second-largest economy. The CSI 300 Index of stocks trading on the mainland’s exchanges has dropped 3.1 per cent since the US and Israel began attacks on Iran on February 28, outperforming the S&P 500, the Euro Stoxx 50 and Japan’s Nikkei 225, which have all slid at least 4 per cent during the period. This marked a turnaround... https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed Fri, 20 Mar 2026 08:15:30 +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 Themis Qi,Julie Zhang Themis Qi,Julie Zhang Chinese authorities have renewed their push for stricter oversight of the electric vehicle (EV) market, urging carmakers to move away from aggressive discounting and focus instead on technological innovation. The directive comes as domestic manufacturers struggle with cooling demand and the phasing out of long-standing government subsidies. At a high-level meeting on March 17, the Ministry of Industry and Information Technology, the National Development and Reform Commission and the State... https://www.scmp.com/business/china-business/article/3347145/china-presses-ev-makers-end-price-war-and-focus-innovation-demand-cools?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347145/china-presses-ev-makers-end-price-war-and-focus-innovation-demand-cools?utm_source=rss_feed Thu, 19 Mar 2026 07:50:48 +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. Geely beats BYD sales in first 2 months of 2026 to become China’s top carmaker Geely Auto has gained the upper hand in mainland China’s intensifying automotive sector, as its diverse product line-up pays off after electric vehicle (EV) king BYD suffered a setback following partial... https://www.scmp.com/business/china-evs/article/3346983/chinas-geely-beats-byd-sales-catls-profit-surges-42-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346983/chinas-geely-beats-byd-sales-catls-profit-surges-42-7-ev-reads?utm_source=rss_feed Wed, 18 Mar 2026 07:30:08 +0000 Themis Qi Themis Qi Chinese electric-vehicle (EV) maker Zhejiang Leapmotor Technology’s exports jumped nearly 400 per cent last year, thanks to its partnership with European giant Stellantis, according to a filing to the Hong Kong stock exchange on Monday. The Hangzhou-based carmaker said it exported 67,052 units in 2025, the most among emerging Chinese EV makers. Leapmotor exported 13,726 units in 2024. The surge in exports was largely attributed to Leapmotor’s joint venture with Stellantis formed in May 2024,... https://www.scmp.com/business/china-evs/article/3346786/leapmotors-stellantis-tie-pays-ev-exports-jump-nearly-400-last-year?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346786/leapmotors-stellantis-tie-pays-ev-exports-jump-nearly-400-last-year?utm_source=rss_feed Mon, 16 Mar 2026 12:59:05 +0000 Daniel Ren Daniel Ren Chinese carmakers, saddled with excess capacity and weak demand at home, are taking a new approach to global expansion: utilising idled facilities abandoned by international marques. By adopting an asset-light strategy, companies from Geely Auto to Great Wall Motor (GWM) can assemble their cars overseas at lower costs, broadening their influence on the global automotive sector, according to analysts. “Mindful of profitability as well as geopolitical and operating risks, Chinese carmakers are... https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed Sun, 15 Mar 2026 12:00:07 +0000 Zhu Wenqian Zhu Wenqian Several years ago, prime ground-floor spaces in major shopping malls across Beijing and Shanghai’s business districts were commonly occupied by electric vehicle (EV) showrooms, with staff often escorting customers to car parks for test drives. Many of these stores have now closed amid sluggish EV sales – yet mall owners have not been left disappointed. Instead, a new retail landscape is emerging, filled with tenants who are proving to be even more effective at drawing crowds and boosting rental... https://www.scmp.com/business/article/3346537/china-mall-shuffle-evs-exit-whos-filling-ground-floor-showrooms?utm_source=rss_feed https://www.scmp.com/business/article/3346537/china-mall-shuffle-evs-exit-whos-filling-ground-floor-showrooms?utm_source=rss_feed Sun, 15 Mar 2026 04:00:12 +0000 Themis Qi Themis Qi Tesla has emerged as a rare outlier in China’s slowing electric vehicle (EV) market, posting a massive sales surge in February even as domestic leaders like BYD grapple with double-digit declines. The US carmaker’s Shanghai Gigafactory delivered nearly 58,600 vehicles to Chinese buyers last month, up 91 per cent compared with the same period last year, according to data from automotive platform Dongchedi. Sales of Model Y stood at 41,404 units, while Model 3 accounted for 17,195 units. Starting... https://www.scmp.com/business/china-evs/article/3346435/teslas-91-february-sales-jump-china-defies-overall-market-slowdown?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346435/teslas-91-february-sales-jump-china-defies-overall-market-slowdown?utm_source=rss_feed Fri, 13 Mar 2026 03:32:25 +0000 Cao Li Cao Li Betting on rising global demand for energy storage, shares of Chinese lithium battery makers continued to rally on Wednesday, led by Contemporary Amperex Technology Ltd (CATL), which reported stronger-than-expected growth driven in part by its expansion into new energy storage markets. CATL shares surged more than 10 per cent to HK$608 during morning trading hours in Hong Kong on Wednesday – the highest level in five months – before closing 9 per cent higher at HK$599.50. That followed another 9... https://www.scmp.com/business/article/3346229/catl-profit-jump-fuels-hong-kong-battery-stocks-amid-global-energy-storage-boom?utm_source=rss_feed https://www.scmp.com/business/article/3346229/catl-profit-jump-fuels-hong-kong-battery-stocks-amid-global-energy-storage-boom?utm_source=rss_feed Wed, 11 Mar 2026 10:00:06 +0000 Daniel Ren Daniel Ren Geely Auto has gained the upper hand in mainland China’s intensifying automotive sector, as its diverse product line-up pays off after electric vehicle (EV) king BYD suffered a setback following partial withdrawal of a tax break. Controlled by Chinese billionaire Li Shufu, Geely overtook BYD in sales during the first two months of the year because of its vehicles’ quality and reliability, even as Beijing intensified efforts to curb price competition among carmakers, according to... https://www.scmp.com/business/china-evs/article/3346089/geely-auto-beats-byd-sales-first-2-months-2026-become-chinas-top-carmaker?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346089/geely-auto-beats-byd-sales-first-2-months-2026-become-chinas-top-carmaker?utm_source=rss_feed Wed, 11 Mar 2026 08:00:10 +0000 Themis Qi Themis Qi Chinese electric vehicle (EV) maker Nio has forecast a surge of up to 97 per cent in first-quarter deliveries, underscoring the turnaround after posting its first-ever quarterly profit and defying a slowdown that has hit most of its domestic rivals. Nio, ranked the 15th bestselling Chinese EV maker last year, set a delivery guidance of 80,000 to 83,000 vehicles for the first quarter of 2026, representing a year-on-year surge of between 90 per cent and 97 per cent. The growth projection bucked... https://www.scmp.com/business/china-evs/article/3346142/chinese-ev-maker-nio-forecasts-surge-deliveries-after-first-quarterly-profit?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346142/chinese-ev-maker-nio-forecasts-surge-deliveries-after-first-quarterly-profit?utm_source=rss_feed Tue, 10 Mar 2026 22:30:08 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Ltd (CATL) reported a 42 per cent jump in net profit last year to 72.2 billion yuan (US$10.4 billion) on strong battery sales and an expansion into new energy storage scenarios. The Chinese battery giant’s sales volume of lithium-ion batteries – a key component for electric vehicles (EVs) – reached 661 gigawatt hours (GWh), up 39 per cent from the previous year, according to a filing released on the Shenzhen Stock Exchange on Monday night. China’s EV industry... https://www.scmp.com/business/climate-and-energy/article/3346013/chinas-catl-profit-surges-42-battery-sales-and-expansion-boost-global-lead?utm_source=rss_feed https://www.scmp.com/business/climate-and-energy/article/3346013/chinas-catl-profit-surges-42-battery-sales-and-expansion-boost-global-lead?utm_source=rss_feed Mon, 09 Mar 2026 14:01:09 +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 Yulu Ao Yulu Ao The founder and chairman of Contemporary Amperex Technology Ltd (CATL) said his company plans to ramp up the use of artificial intelligence in research and take Chinese battery technology and standards further overseas, as the battery giant maps the next phase of growth. The world’s largest maker of electric vehicle (EV) batteries would step up research and development (R&D) spending and apply more AI methods to strengthen its technological edge, said billionaire Robin Zeng Yuqun at a briefing... https://www.scmp.com/business/china-business/article/3345432/chinas-ev-battery-leader-catl-step-use-ai-rd-founder-and-chairman-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345432/chinas-ev-battery-leader-catl-step-use-ai-rd-founder-and-chairman-says?utm_source=rss_feed Wed, 04 Mar 2026 10:33:14 +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. Low-cost models dominate China EV sales, surpassing Tesla and BYD Amid intensifying competition among Chinese electric-vehicle (EV) makers last year, relatively inexpensive models from Geely Auto and Wuling Motor Holdings topped the sales chart, surpassing cars from BYD and Tesla. 2.... https://www.scmp.com/business/china-evs/article/3345201/low-cost-models-surpass-tesla-china-geely-makes-bets-amid-price-wars-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3345201/low-cost-models-surpass-tesla-china-geely-makes-bets-amid-price-wars-7-ev-reads?utm_source=rss_feed Wed, 04 Mar 2026 07:30:08 +0000 Themis Qi,Zhu Wenqian Themis Qi,Zhu Wenqian The head of Chinese electric vehicle (EV) maker Xpeng said the country should accelerate the development of autonomous driving technology amid slowing sales growth in the sector. He Xiaopeng, founder and CEO of the Guangzhou-based company, said on Monday that the country should skip an intermediate step and move directly to a more advanced version of autonomous capabilities, adding that Beijing should adjust regulations and policies faster to make this happen. He said he would submit this... https://www.scmp.com/business/china-evs/article/3345163/why-wait-china-should-skip-step-self-driving-cars-xpeng-founder-and-ceo-says?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3345163/why-wait-china-should-skip-step-self-driving-cars-xpeng-founder-and-ceo-says?utm_source=rss_feed Mon, 02 Mar 2026 11:33:07 +0000 Themis Qi Themis Qi Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the fifth entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. Chinese government and industry officials are likely to discuss plans to control domestic electric-vehicle (EV) makers’ output, while encouraging them to prioritise... https://www.scmp.com/business/china-evs/article/3344899/top-chinese-officials-industry-leaders-may-discuss-capping-ev-output-two-sessions?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3344899/top-chinese-officials-industry-leaders-may-discuss-capping-ev-output-two-sessions?utm_source=rss_feed Mon, 02 Mar 2026 08:00:08 +0000 Vincent Chow Vincent Chow WeRide, one of China’s big three robotaxi companies, has cut research and development (R&D) costs by “millions” of US dollars by using artificial intelligence to train its fleet in virtual worlds, its CEO said. While rivals had also developed AI models simulating the physical world, WeRide’s efforts stood out as it was using its world model Genesis to support its global expansion strategy, said Tony Han. “It’s the first real marriage between physical AI and generative AI,” Han told the South... https://www.scmp.com/tech/article/3344817/breakthrough-or-hype-how-weride-aims-steer-past-rivals-crowded-robotaxi-field?utm_source=rss_feed https://www.scmp.com/tech/article/3344817/breakthrough-or-hype-how-weride-aims-steer-past-rivals-crowded-robotaxi-field?utm_source=rss_feed Sat, 28 Feb 2026 02:00:38 +0000