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Electric & new energy vehiclesi

Latest news, in-depth features and opinion on electric & new energy vehicles.

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The EU is worried its carmakers cannot compete with China in the new energy vehicle sector while Beijing views electric vehicles, lithium-ion batteries and solar panels as drivers of exports and economic growth.

  • Foreign buyers have flocked to China’s largest trade exhibition, drawn by the array of new energy vehicles and other green products at the Canton Fair
  • But some manufacturers of traditional goods, such as home appliances, have still lamented falling numbers of European and American customers in recent years
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Li Auto , Tesla’s nearest rival in mainland China, reduced the price of all its vehicles by up to 5.7 per cent, just a day after the US carmaker offered discounts to local customers amid an escalating discount war.

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Musk has ordered the company’s biggest lay-offs ever and staked its future on a next-generation, self-driving vehicle concept called the robotaxi. People familiar with his directives are unsettled by the changes the CEO wants to push through.

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Tesla has cut the prices of its Shanghai-made vehicles by more than 5 per cent in mainland China, joining an intensifying discount war in the country amid a slowdown in the carmaker’s sales globally.

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Hesai, which released new products based on its ATX technology on Friday, is seriously considering building plants outside mainland China to capitalise on the growing use of the technology, CEO Li says.

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The internet giant’s Intelligent Driving Group will strive for ‘100 million yuan of revenue and 100 million yuan of profits’, unit head Wang Yunpeng writes in a letter to employees.

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Only a few dozen employees at the Gigafactory 3 in Shanghai were told to leave, representing a tiny portion of the workforce of 20,000 assembling Model 3 and Model Y vehicles, say two people with knowledge of the matter.

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Ampace is betting on a boom in home energy storage systems and the ‘batterification’ of tools and electronic devices as it aims to solidify an already dominant position in a part of the market away from electric cars and smartphones.

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Carmakers like Dongfeng, Chery and BYD are eyeing production sites in Europe to assemble the next generation of electric vehicles as a foil against the EU’s protectionist tariffs as a brutal price war at home drives more producers offshore in search of fresh markets.

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Buyers and exhibitors of new energy equipment at the Canton Fair are showing boundless optimism as orders rise, but measures likely to be taken against the industry by the US and EU could spoil the fun.

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Chinese state-owned carmaker Chery Automobile takes a step into Europe’s EV markets as its Omoda brand establishes a partnership with UK car rental company Octopus Electric Vehicles.

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Xiaomi’s roaring entry into the electric vehicle market is dimming the recovery outlook for China’s beaten down car start-ups, with better-than-expected initial orders for the SU7 helping a rally its shares.

Ahead of China’s quarterly GDP release, survey figures reflect how difficult times have been for half a billion Chinese people, and where their priorities now lie.

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US Treasury Secretary’s meetings to include talks with China on ‘balanced growth’, a new dialogue to address China’s excess industrial capacity for EVs, solar panels and other clean energy goods.

Scholz’s trip comes as the European Union is undertaking an anti-subsidy investigation into Chinese electric vehicles (EVs), and as criticism grows in the United States about Chinese overcapacity.

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Geopolitics is the biggest uncertainty and foreign interest in Chinese assets will depend on the direction of Beijing’s next set of policies, according to executives at the Harvard College China Forum.

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