Topic

Future of transporti

From electric cars to on-demand car service apps, companies like Uber, Google and Didi Dache are changing the way we get from place to place, and having a potentially irreversible effect on employment in this key sector. 

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  • Xpeng will launch a compact EVs priced ‘between 100,000 yuan and 150,000 yuan’ for the China and global markets, co-founder and CEO He Xiaopeng said
  • Premium EV makers are looking to grab a slice of the pie from BYD, Shanghai analyst says

New Delhi has been working on a new EV policy, following a proposal by Tesla to set up an Indian factory and build a low-cost car in exchange for lower import taxes.

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The two companies aim to churn out EV batteries that can last for as long as 15 years, nearly double the current average lifespan, which could help EV users save tens of thousands of yuan, they say.

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The world’s largest EV maker is taking the offensive in a market-share battle, with rivals including Xpeng, Zeekr and SAIC-GM-Wuling also slashing prices.

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The Chinese smartphone maker, which has started taking orders for its maiden EV model, will start deliveries on March 28. The market estimates the car to be priced from 200,000 yuan (US$27,865) to 370,000 yuan.

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Chinese electric vehicle (EV) maker Xpeng plans to launch its first right-hand drive model in the second half of this year as it accelerates its push to go global, targeting markets such as Hong Kong and Southeast Asia.

The US carmaker’s Gigafactory in Shanghai handed over 30,141 Model 3s and Model Ys to mainland customers last month, a year-on-year decline of 24.4 per cent, according to China Passenger Car Association data.

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Start-up H2 Solution is planning to set up its operations at Hong Kong’s science and technology park in Pak Shek Kok as a launchpad into overseas markets.

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The Shanghai-based carmaker expects to hand over 31,000 to 33,000 EVs to mainland Chinese customers between January and March, down 34.1 to 38.1 per cent from the fourth quarter of 2023.

Chinese electric-vehicle (EV) maker Leapmotor has joined the widening discount war on the mainland, pricing its new SUV as much as 17 per cent lower than originally planned.

Recent smart mobility efforts in Hong Kong include the development of sky shuttles, as well as the deployment of hydrogen-powered double-decker buses and driverless trucks.

The US$77,764 Li Mega, Beijing-based Li Auto’s first pure-electric model, has a range of 710 kilometres. It costs nearly twice as much as market leader General Motors’ petrol-powered competitor.

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Volkswagen has signed an agreement with Chinese EV maker Xpeng to jointly develop two mid-sized battery-powered vehicles for the highly competitive mainland market in 2026.

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Geely’s premium electric-vehicle unit Zeekr has cut prices by 10 per cent, joining the fray against mainland Chinese rivals after BYD fired the first salvo this month.

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The surprise move marks the end of the multibillion-dollar Project Titan, one of the most ambitious efforts in the tech giant’s history.

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Shanghai Zhida Technology Development, which makes electric-vehicle charging systems, is working with Shenwan Hongyuan on an IPO, source says. Its systems are used by 70 car brands in China.

The Warren Buffett-backed carmaker is accepting bookings for the 1.68 million yuan (US$233,400) supercar with a deposit of 300,000 yuan. Deliveries are expected to start in the summer.

The company, a division of British sports car company Lotus Group in which Chinese carmaker Zhejiang Geely Holding owns a majority stake, will focus on the premium segment despite cheap models dominating the mainland EV market.

Haomo.AI, an autonomous driving technology start-up backed by Great Wall Motor, has raised 100 million yuan (US$13.9 million) in a new round of financing buoyed by Chinese drivers’ growing appetite for intelligent vehicles.

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GGSN, which is partly owned by New World Group, is in talks to set up research, product development and marketing facilities in Hong Kong, where it hopes to demonstrate its autonomous charging devices in the car parks of offices and malls.

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Analysts says lower battery costs are enabling EV makers to discount prices amid tougher competition and efforts to take more share from petrol car manufacturers.

Chinese electric vehicle (EV) maker Xpeng will spend a record 3.5 billion yuan (US$486 million) in 2024 and hire 4,000 new workers, as it unveils plans to churn out 30 new models over the next three years.