Topic
Xpeng is a leading Chinese maker of electric vehicles. The company is considered the most tech-centric of the country's premium EV makers. It counts Alibaba Group, which owns the South China Morning Post, among its backers.
If America really is not afraid of free and fair competition, it must rise to the challenge presented by Chinese electric vehicles and not apply its ‘national security’ brake.
- Xiaomi’s founder and CEO Lei Jun said on Tuesday that the SU7 has proved popular and is quickly moving towards its sales target of 100,000 units this year
- Retail sales of new energy vehicles in China totaled 1.76 million units in the first quarter, down 31 per cent from the December quarter but up 34 per cent year on year
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.
Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y.
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.
Spotlight Automotive, BMW’s 50-50 EV venture with mainland Chinese partner Great Wall Motor, is designing new models that it hopes to sell globally.
The Chinese electric vehicle maker has taken a significant step towards tapping the right-hand drive market after forming a partnership with Sime Darby Motors to distribute its cars in Hong Kong.
New-energy vehicles will make up about half of new car sales in China by 2030, as state incentives and expanding charging stations win over more customers, Moody’s Investors Service says.
Li Auto, Tesla’s nearest rival in mainland China, plans to start selling a new, more economical model aimed at families amid a price war in the country’s electric vehicle market.
Strong sales of smartphone vendor Xiaomi’s first electric car have exacerbated a price war in the sector that is squeezing the profit margins of most players in China.
Li Auto, Nio and Xpeng, China’s top three premium EV manufacturers, have reported a strong rebound in deliveries in March, while BYD said the sales of its pure electric and plug-in hybrids had surged as well.
The US giant raised the price of its Shanghai-made Model Y on Monday, bucking the trend set by a discount war that is squeezing the profit margins of most of its rivals in the world’s largest electric vehicle (EV) market.
Xiaomi off to a flying start in EV sector with its new SU7, which is priced to take on Tesla’s Model 3 in the competitive Chinese market.
BYD, the world’s largest electric-vehicle maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.
Smart technology such as autonomous parking systems and the wide availability of superfast battery charging infrastructure will drive a boom in EV sales over the next five years, according to two of the segment’s leading manufacturers.
Chinese electric-vehicle maker Xpeng reported a 153 per cent increase in revenue on Tuesday, meeting an analysts’ forecast for the fourth quarter of 2023.
BYD, Xpeng and GAC Aion’s Hyper brand announced expanded collaborations with Nvidia on Monday.
The global automotive industry is making a “strategic transformation” towards electrification, said Gou Ping, vice-chairman of the State-owned Assets Supervision and Administration Commission.
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.
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.
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.
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.
The mega event week reflects the Hong Kong government’s heightened efforts to buttress the city’s status as an international financial hub.
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.
The price war in China’s EV sector is likely to intensify further as carmakers undercut each other amid faltering sales, market observers say.
The decline ‘bodes ill’ for the market as a bruising price war may be imminent, sales executive says. EV makers are grappling with fiercer competition amid a drop in demand and signs of overcapacity.
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.
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.
From Xiaomi to Xpeng, leading Chinese electric vehicle makers have expressed disbelief that Apple is ending its decade-long effort to build a car.
Deal highlights the increasing influence Chinese companies have on the development of the global EV industry, analyst says.
