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05 Mar Nio reports wider loss, forecasts sharp fall in deliveries as price war in China’s EV sector escalates

Posted at 13:00h in Asia

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.Nio published its delivery guidance on Tuesday after it reported a net loss of 5.37...

01 Mar Chinese EV makers Li Auto, Xpeng and Nio post sales declines for second straight month, fuelling price-war worries

Posted at 13:00h in Asia

Deliveries by major Chinese electric vehicle (EV) makers dropped for the second consecutive month in February, raising worries that a bruising price war may be imminent even though the month included an eight-day break in sales over the Lunar New Year holiday.Beijing-based Li Auto, mainland...

29 Feb Volkswagen teams up with Xpeng to develop 2 electric cars as it hopes to regain lost ground in the world’s largest EV market

Posted at 04:46h in Asia

“In the world’s largest and fastest-growing EV market, speed is fundamental when it comes to tapping into promising market segments,” Volkswagen’s China chief executive Ralf Brandsatter said in the statement.“Through the partnership with Xpeng, we are not only accelerating development times, but also boosting efficiency...

26 Feb Chinese EV maker Nio deal to license technology to Middle East start-up Forseven, unit of Abu Dhabi’s CYVN Holdings

Posted at 14:10h in Asia

Chinese electric-car builder Nio has signed a deal to license its technology to Forseven, a unit of Abu Dhabi government fund CYVN Holdings, in the latest sign of China’s increasing influence in the global electric vehicle (EV) industry.Shanghai-based Nio, via its subsidiary Nio Technology (Anhui),...

26 Feb Li Auto forecasts first-quarter sales drop as competition sharpens in Chinese EV market, reports record profit

Posted at 12:45h in Asia

Li Auto, mainland China’s nearest rival to Tesla, has forecast lacklustre sales for the first quarter of this year, adding to evidence that the world’s largest electric-vehicle (EV) market is grappling with a slowdown.The Beijing-based carmaker said on Monday that it could deliver between 100,000...

26 Feb China EVs: BYD ‘looking up’ to take on Ferrari, Lamborghini with the Yangwang U9 supercar

Posted at 07:00h in Asia

BYD, the world’s largest electric-vehicle (EV) maker, has started taking orders for the Yangwang U9, pricing the luxury supercar at 1.68 million yuan (US$233,400), as it tries to lure rich Chinese consumers away from high-end foreign carmakers such as Ferrari and Lamborghini.The U9, which can...

23 Feb Geely-backed luxury EV maker Lotus Tech to launch autonomous driving cars in 60 Chinese cities this year

Posted at 13:05h in Asia

Lotus Technology, a luxury electric-vehicle (EV) maker, plans to put its semi-autonomous driving system into operation across 60 mainland Chinese cities this year.The company, a division of British sports car company Lotus Group in which Chinese carmaker Zhejiang Geely Holding owns a majority stake, will...

20 Feb Chinese EV maker Xpeng unveils capex blitz as it sees no let-up in market bloodbath

Posted at 10:43h in Asia

The letter goes on to say that 30 new models will be launched by the company over the next three years. Xpeng confirmed the contents of the letter.An Xpeng Inc. G9 electric vehicle at the Shanghai Auto Show on April 24, 2023. Photo: BloombergAccording to...

07 Feb China EVs: Li Auto rewards hard-working employees with fat bonuses for surpassing 2023 sales target

Posted at 11:31h in Asia

Li Auto, mainland China’s nearest rival to Tesla, is giving huge bonuses to its employees after the electric-car maker’s deliveries in 2023 exceeded the target in a highly competitive market.The Beijing-based carmaker plans to grant annual bonuses ranging from four months to eight months...

01 Feb Chinese EV builders Li Auto, Xpeng and Nio get 2024 off to a slow start, with sharp drop in January sales

Posted at 22:00h in Asia

“The month-on-month fall in deliveries appears to be bigger than what dealers had expected,” said Zhao Zhen, a sales director with Shanghai-based dealer Wan Zhuo Auto.“Consumers are more cautious about purchasing expensive items such as cars amid worries about job security and income reductions.”Chinese EV...

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