https://www.scmp.com/rss/523408/feed The latest news and top stories on Nick Lai, the Head of Asia Auto Research and Head of China Equity Research at JPMorgan. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Themis Qi Themis Qi China’s electric vehicle (EV) king BYD reported a slump in first-quarter net profit as weakness in its domestic market outweighed rising exports. The mainland’s largest and most profitable EV maker reported a net profit of nearly 4.09 billion yuan (US$590 million) for the first three months of the year, a drop of 55 per cent compared with a year earlier. Revenue came in at 150.2 billion yuan, down 11.8 per cent from a year earlier. The market’s consensus estimate was 4.09 billion yuan for net... https://www.scmp.com/business/china-evs/article/3351734/byd-chinas-ev-king-posts-55-slump-first-quarter-profit?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3351734/byd-chinas-ev-king-posts-55-slump-first-quarter-profit?utm_source=rss_feed Tue, 28 Apr 2026 11:44:14 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi Chinese electric vehicle (EV) makers at the Beijing auto show are shifting their focus to overseas markets, banking on opportunities from the Middle East crisis to boost profitability amid weak sales at home. “Going global has become a top choice for Chinese EV builders as they struggle to break even,” said Phate Zhang, founder of Shanghai-based data provider CnEVPost. “The Middle East crisis is acting as a strong catalyst to bolster their overseas deliveries.” Nearly all major EV assemblers... https://www.scmp.com/business/china-business/article/3351357/chinese-ev-makers-target-global-expansion-auto-china-amid-energy-shock?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351357/chinese-ev-makers-target-global-expansion-auto-china-amid-energy-shock?utm_source=rss_feed Fri, 24 Apr 2026 12:57:59 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi This year’s Auto China, the world’s largest car show, is likely to mark a watershed for Chinese electric vehicle (EV) makers as they push dozens of new premium models into the spotlight, challenging European manufacturers such as BMW and Mercedes-Benz. Leading EV makers in mainland China, from BYD and Geely to Leapmotor and Nio, will showcase their latest models at the 10-day show, which starts in Beijing on Friday, having moved up the value chain through the rapid adoption of technological... https://www.scmp.com/business/china-business/article/3351130/chinas-premium-evs-mount-tech-powered-challenge-bmw-mercedes-benz-expo?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351130/chinas-premium-evs-mount-tech-powered-challenge-bmw-mercedes-benz-expo?utm_source=rss_feed Thu, 23 Apr 2026 09:00:09 +0000 Daniel Ren Daniel Ren Contemporary Amperex Technology Ltd (CATL), the world’s largest electric vehicle (EV) battery producer, has unveiled its upgraded technologies – including lighter battery packs and faster charging modes – which are expected to accelerate the global automotive industry’s electrification drive. The company, which holds more than a 40 per cent share of the global market, aimed to set a healthy tone for the Chinese EV sector to implement its go-global strategy, focusing on constant technological... https://www.scmp.com/business/china-business/article/3350938/catl-drive-electrification-faster-charging-and-higher-performing-batteries?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350938/catl-drive-electrification-faster-charging-and-higher-performing-batteries?utm_source=rss_feed Wed, 22 Apr 2026 01:24:14 +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 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 Daniel Ren Daniel Ren Major Chinese carmakers have cut their lengthy supplier payment cycles – previously used to offset costs and stay competitive in the country’s vast auto market – from nearly a year to less than 60 days, a government-backed industry consortium said, following heightened efforts from Beijing to police the cutthroat sector. The China Association of Automobile Manufacturers (CAAM) said in a statement on Thursday that the 17 assemblers it recently investigated took an average of 54 days to pay their... https://www.scmp.com/business/china-business/article/3343294/chinas-carmakers-cut-supplier-payment-cycles-amid-beijings-price-war-crackdown?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343294/chinas-carmakers-cut-supplier-payment-cycles-amid-beijings-price-war-crackdown?utm_source=rss_feed Thu, 12 Feb 2026 09:00:11 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) king BYD aims for a 24 per cent increase in its overseas deliveries in 2026, buoyed by an expanded sales network and new model launches, as it pursues growth abroad to counteract a slowing domestic market. The Shenzhen-based company, the world’s largest builder of pure electric and plug-in hybrid vehicles, expected to sell 1.3 million cars this year outside mainland China, up 24.3 per cent from 2025, said Li Yunfei, general manager of branding and public relations,... https://www.scmp.com/business/china-business/article/3341156/chinese-carmaker-byd-chases-24-export-growth-new-models-more-showrooms-abroad?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341156/chinese-carmaker-byd-chases-24-export-growth-new-models-more-showrooms-abroad?utm_source=rss_feed Sun, 25 Jan 2026 08:30:30 +0000 SCMP Editorial SCMP Editorial China’s electric vehicle industry faces a wave of consolidation in 2026 as declining domestic demand, softening state support and investor scepticism threaten the survival of dozens of unprofitable manufacturers in the world’s largest car market. To be sure, there are bright spots, with Beijing renewing a trade-in subsidy worth up to 20,000 yuan (US$2,870) per car purchase, although relief from a 10 per cent purchase tax will be phased out from this year. Also, a China-EU deal on a pricing... https://www.scmp.com/opinion/comment/article/3340510/chinas-ev-industry-should-focus-consolidation-home-expansion-abroad?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3340510/chinas-ev-industry-should-focus-consolidation-home-expansion-abroad?utm_source=rss_feed Tue, 20 Jan 2026 22:45:11 +0000 Daniel Ren Daniel Ren Western countries’ positive stance on electric vehicles (EVs) has given Chinese carmakers from BYD to Leapmotor renewed vigour to step up their global expansion and counter a slowing domestic market, industry observers said. Europe’s buoyant EV market last year lifted Chinese assemblers’ hopes to boost their exports to shore up their profits and hone their international image, they added. “A welcoming attitude towards electrification is good news for Chinese EV makers because they enjoy... https://www.scmp.com/business/china-business/article/3340586/chinese-ev-makers-overseas-outlook-improves-europe-levels-playing-field?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340586/chinese-ev-makers-overseas-outlook-improves-europe-levels-playing-field?utm_source=rss_feed Tue, 20 Jan 2026 12:12:03 +0000 Daniel Ren Daniel Ren A requirement to set minimum prices for their cars in the European Union will reduce sales there for Chinese electric vehicle (EV) makers, but higher profit margins will eventually improve their bottom lines and brand reputations, according to analysts and industry officials. Assemblers of Chinese pure-electric cars from BYD to Leapmotor will avoid a brutal discount war after European authorities accepted price undertakings to replace punitive anti-subsidy tariffs of up to 35.3 per cent. Minimum... https://www.scmp.com/business/china-business/article/3339914/china-eu-tariff-agreement-evs-seen-cutting-shipments-boosting-profitability?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3339914/china-eu-tariff-agreement-evs-seen-cutting-shipments-boosting-profitability?utm_source=rss_feed Thu, 15 Jan 2026 00:30:09 +0000 Daniel Ren Daniel Ren Beijing has renewed a trade-in subsidy for car purchases, at least a week ahead of schedule, in an apparent effort to prop up the country’s automotive sector amid worries of a sales slump in 2026. Buyers who replace their petrol and electric cars with new vehicles would receive a cash subsidy of up to 20,000 yuan (US$2,858) per unit, according to a circular jointly released on Monday by the National Development and Reform Commission and the Ministry of Finance. The authorities were earlier... https://www.scmp.com/business/china-business/article/3338281/beijing-renews-trade-subsidy-scheme-amid-domestic-car-markets-gloomy-outlook?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338281/beijing-renews-trade-subsidy-scheme-amid-domestic-car-markets-gloomy-outlook?utm_source=rss_feed Wed, 31 Dec 2025 08:30:08 +0000 Daniel Ren Daniel Ren Dozens of Chinese electric vehicle (EV) makers face a do-or-die moment in 2026, according to analysts, amid weakening domestic demand that is expected to see perennial loss-making firms exit the world’s largest car market. About 50 unprofitable mainland Chinese EV makers are under pressure to scale down their business or wind down operations, as the country’s automotive sector is projected to report a sales drop next year – the first such contraction since 2020 – owing to the industry’s... https://www.scmp.com/business/china-business/article/3337827/dozens-chinese-ev-makers-under-pressure-fold-or-trim-operations-2026-analysts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337827/dozens-chinese-ev-makers-under-pressure-fold-or-trim-operations-2026-analysts?utm_source=rss_feed Sun, 28 Dec 2025 00:30:08 +0000 Daniel Ren Daniel Ren Chinese sports utility vehicle maker Jetour, with an eye on becoming a global SUV powerhouse, plans to accelerate its overseas expansion in the Middle East with products tailored to local motorists. Already present in more than 100 countries and regions after seven years in operation, Jetour said at a recent fan gathering in Abu Dhabi that it was banking on local research and development (R&D) efforts to design and build world-class SUVs for countries in the Middle East. “We are listening... https://www.scmp.com/business/china-business/article/3337662/chinese-suv-maker-jetour-bets-localised-product-offerings-hasten-go-global-drive?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337662/chinese-suv-maker-jetour-bets-localised-product-offerings-hasten-go-global-drive?utm_source=rss_feed Thu, 25 Dec 2025 07:00:17 +0000 Daniel Ren Daniel Ren Nearly 270,000 cars with self-driving systems that allow drivers to be “hands off” under certain conditions will be sold in China next year as Beijing allows carmakers to build such vehicles, according to Daiwa Securities. This volume is projected to represent about 1 per cent of China’s total new car sales in 2026, as the expanding adoption of advanced driver assistance systems (ADAS) is poised to stimulate the world’s largest automotive and electric vehicle (EV) market amid waning... https://www.scmp.com/business/china-business/article/3337224/chinas-approval-l3-self-driving-cars-stimulate-slowing-mainland-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337224/chinas-approval-l3-self-driving-cars-stimulate-slowing-mainland-market?utm_source=rss_feed Sun, 21 Dec 2025 23:30:12 +0000 Daniel Ren Daniel Ren Two leading Chinese electric vehicle (EV) makers, Xpeng and Li Auto, have been granted licences to test their level 3 (L3) autonomous driving technologies in designated urban areas, the latest sign that Beijing is encouraging wider use of advanced driver assistance systems amid a slowing automotive market. The green light came just one day after the Ministry of Industry and Information Technology (MIIT) gave another two carmakers – Changan Automobile and BAIC – approvals to start assembling new... https://www.scmp.com/business/china-business/article/3336664/xpeng-li-auto-latest-get-approval-test-hands-driving-amid-slowing-car-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3336664/xpeng-li-auto-latest-get-approval-test-hands-driving-amid-slowing-car-market?utm_source=rss_feed Tue, 16 Dec 2025 11:45:56 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) maker Xpeng plans to establish a production base in Malaysia targeting Southeast Asian customers, in its latest move to expand overseas to improve profitability. The Guangzhou-based company, 5 per cent owned by Volkswagen Group, said on Monday that it would partner with Malaysian firm EP Manufacturing Berhad (EPMB), an investment conglomerate focusing on automotive manufacturing and engineering, to locally assemble its intelligent electric cars tailored to the needs... https://www.scmp.com/business/china-evs/article/3336166/xpeng-steps-go-global-drive-malaysian-ev-assembly-hub-southeast-asian-market?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3336166/xpeng-steps-go-global-drive-malaysian-ev-assembly-hub-southeast-asian-market?utm_source=rss_feed Mon, 15 Dec 2025 06:00:14 +0000 Daniel Ren Daniel Ren Tesla’s Shanghai Gigafactory reported a significant rebound in shipments last month as Chinese consumers took advantage of soon-expiring government incentives to snap up cars. The US carmaker’s Shanghai plant, its largest production facility globally, delivered a total of 86,700 Model 3 and Model Y electric vehicles (EVs) in November, a 41 per cent jump from October and a 10 per cent rise from a year earlier, according to data from the China Passenger Car Association (CPCA). The deliveries... https://www.scmp.com/business/china-evs/article/3335023/teslas-china-gigafactory-sees-shipment-surge-ahead-government-subsidy-expiry?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3335023/teslas-china-gigafactory-sees-shipment-surge-ahead-government-subsidy-expiry?utm_source=rss_feed Wed, 03 Dec 2025 06:53:24 +0000 Daniel Ren Daniel Ren At least three Chinese electric vehicle (EV) assemblers rewrote their monthly sales records in November, as consumers rushed to dealers before tax breaks and cash subsidies are phased out from January 1. Analysts and dealers, however, expect a sharp fall in deliveries at the beginning of the new year as buying interest dries up. Stellantis-backed Leapmotor, one of the fastest-selling EV makers this year, delivered 70,327 vehicles in November, hitting an all-time high for the seventh consecutive... https://www.scmp.com/business/china-evs/article/3334805/chinas-ev-makers-post-electrifying-sales-incentives-are-phased-out-next-year?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3334805/chinas-ev-makers-post-electrifying-sales-incentives-are-phased-out-next-year?utm_source=rss_feed Mon, 01 Dec 2025 23:30:08 +0000 Daniel Ren Daniel Ren Up to five Chinese vehicle assemblers, leveraging their technology and production advantages in building electric cars, are likely to make the list of the world’s top 10 carmakers by 2030, disrupting the pecking order in the global automotive industry, according to global consultancy McKinsey. “The industry will undergo some major changes by 2030,” Guan Mingyu, a senior partner of McKinsey, told reporters in a media briefing on Thursday. “Indeed, we have already seen some signs that tremendous... https://www.scmp.com/business/china-business/article/3334406/chinese-ev-makers-tipped-storm-worlds-top-10-carmakers-2030-mckinsey-forecasts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334406/chinese-ev-makers-tipped-storm-worlds-top-10-carmakers-2030-mckinsey-forecasts?utm_source=rss_feed Fri, 28 Nov 2025 00:30:09 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) builders are increasingly shipping their cars abroad to spur international sales ahead of an expected downturn in their home market, analysts say, as Beijing phases out incentives such as tax holidays and cash subsidies. The carmakers, which can enjoy a net margin of 20,000 yuan (US$706) per vehicle by selling their cars outside mainland China, are rolling out more models and pushing into untapped territories to chase high profitability. Stellantis-backed Leapmotor,... https://www.scmp.com/business/china-business/article/3334300/chinese-ev-makers-step-gas-abroad-hedge-against-weaker-mainland-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334300/chinese-ev-makers-step-gas-abroad-hedge-against-weaker-mainland-sales?utm_source=rss_feed Thu, 27 Nov 2025 23:30:08 +0000 Yulu Ao Yulu Ao Leading Chinese electric-vehicle (EV) maker Xpeng reported record quarterly revenue and sharply narrowed losses in the third quarter, even as its Hong Kong-listed shares fell on Monday after investors shrugged off a bullish call from JPMorgan. The Guangzhou-based firm’s net loss narrowed by nearly 80 per cent to 380.9 million yuan (US$53.6 million) in the third quarter from 1.81 billion yuan a year earlier, according to a filing to the Hong Kong stock exchange. Revenue surged 101.8 per cent year... https://www.scmp.com/business/china-evs/article/3333123/chinas-xpeng-posts-record-revenue-robotaxi-and-humanoid-ambitions-take-shape?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3333123/chinas-xpeng-posts-record-revenue-robotaxi-and-humanoid-ambitions-take-shape?utm_source=rss_feed Mon, 17 Nov 2025 12:31:44 +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 Daniel Ren Daniel Ren Chinese electric vehicle (EV) maker BYD recorded surging sales in Europe last month after it launched more models and expanded its sales network, narrowing its gap with market leader Tesla. The Shenzhen-based carmaker racked up 24,963 new-car registrations in Europe in September, nearly five times its deliveries of 5,013 units a year ago, according to data from the European Automobile Manufacturers Association, known as the ACEA. The association tracks vehicle sales across the European Union,... https://www.scmp.com/business/china-evs/article/3330873/chinese-ev-maker-byds-sales-surge-europe-narrowing-gap-market-leader-tesla?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3330873/chinese-ev-maker-byds-sales-surge-europe-narrowing-gap-market-leader-tesla?utm_source=rss_feed Thu, 30 Oct 2025 07:02:25 +0000 Daniel Ren Daniel Ren Car sales in mainland China are likely to slide in 2026, breaking a six-year streak, if Beijing stops granting cash subsidies and tax incentives to buyers, according to a JPMorgan forecast that looms over the earnings outlook for the country’s 100-odd vehicle assemblers. “We expect retail [car] sales to see flat growth next year in a bullish scenario,” Nick Lai, head of auto research in Asia-Pacific at JPMorgan, said in an interview. “The market has more than a 50 per cent chance of seeing... https://www.scmp.com/business/china-business/article/3329920/china-car-sales-slump-2026-if-beijing-scraps-subsidies-jpmorgan-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3329920/china-car-sales-slump-2026-if-beijing-scraps-subsidies-jpmorgan-says?utm_source=rss_feed Wed, 22 Oct 2025 23:30:08 +0000 Daniel Ren Daniel Ren Chinese car dealers, once the beneficiaries of the country’s booming automotive market, are facing a bleak future as they fall victim to a brutal price war and a growing preference for e-commerce sales among manufacturers and shoppers. The industry’s 14 major participants reported a 10 per cent sales slump in the first half of 2025, following an 18 per cent year-on-year decline in 2024, according to data from the China Passenger Car Association (CPCA). Cui Dongshu, general secretary of the... https://www.scmp.com/business/china-business/article/3328686/chinas-car-dealers-feel-life-threatening-squeeze-price-war-e-commerce-rivals?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328686/chinas-car-dealers-feel-life-threatening-squeeze-price-war-e-commerce-rivals?utm_source=rss_feed Sun, 12 Oct 2025 07:34:12 +0000 Daniel Ren Daniel Ren Jeep maker 212 Off-Road Vehicle, a unit of Beijing Auto Works (BAW), has set its sights on overseas markets as it banks on the country’s automotive supply chain to design and assemble high-performance products. The company, based in Qingdao, a coastal city in eastern China’s Shandong province, plans to offer a slate of petrol-powered and electric vehicles (EVs) to customers in Europe, the Middle East and Southeast Asia, hoping they can generate 40 per cent of sales as early as 2028, CEO Lu... https://www.scmp.com/business/china-business/article/3324213/chinese-road-vehicle-brand-212-eyes-europe-middle-east-and-africa-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324213/chinese-road-vehicle-brand-212-eyes-europe-middle-east-and-africa-growth?utm_source=rss_feed Wed, 03 Sep 2025 23:30:08 +0000 Daniel Ren Daniel Ren Geely Auto, mainland China’s second-largest carmaker, reported a 14 per cent drop in first-half profit even as revenue surged on sales of electric vehicles (EVs) to budget-conscious consumers aided by heavy discounts. Profit for the January to June period came in at 9.3 billion yuan (US$1.3 billion) versus 10.8 billion yuan a year earlier based on international accounting standards, according to a filing to the Hong Kong stock exchange on Thursday. The profit exceeded the 7.6 billion yuan... https://www.scmp.com/business/china-business/article/3321868/chinese-tycoon-li-shufus-geely-auto-posts-first-half-profit-decline-beats-estimates?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3321868/chinese-tycoon-li-shufus-geely-auto-posts-first-half-profit-decline-beats-estimates?utm_source=rss_feed Thu, 14 Aug 2025 10:00:45 +0000 Daniel Ren Daniel Ren Stellantis-backed Leapmotor has announced the latest phase in its global push by launching an electric midsize sedan that offers similar features to Tesla’s Model 3 at less than half the price. The Hangzhou-based electric vehicle (EV) builder said the B01, priced from 89,800 yuan (US$12,542) in mainland China, would target markets around the world as it pursued new growth engines amid cutthroat competition at home. “We are offering our answer to customers’ demand for an exquisite,... https://www.scmp.com/business/china-business/article/3319499/leapmotor-rolls-out-smart-ev-half-price-teslas-model-3-push-global-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3319499/leapmotor-rolls-out-smart-ev-half-price-teslas-model-3-push-global-sales?utm_source=rss_feed Thu, 24 Jul 2025 14:28:45 +0000