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03 Apr Tesla knocks BYD off its perch as world’s largest pure EV makers struggle to win new customers in China’s shrinking market

Posted at 07:54h in Asia

Tesla regained its crown as the world’s biggest seller of pure electric vehicles (EVs) in the first quarter, as Huawei Technologies and other start-ups snapped at the heels of the market leader BYD, driving the industry into a ferocious price war in China.Deliveries by the...

28 Mar BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

Posted at 13:00h in Asia

BYD, the world’s largest electric-vehicle (EV) 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.Wang Chuanfu, the Shenzhen-based carmaker’s chairman and...

06 Mar China’s BYD to spend US$55 million on buy-back of Shenzhen-listed shares as world’s largest EV maker eyes higher market value

Posted at 13:24h in Asia

BYD, the world’s largest electric vehicle (EV) maker, plans to buy back 400 million yuan (US$55.56 million) worth of its mainland-listed shares, with the aim of lifting the company’s stock price amid concerns about escalating competition in China.Shenzhen-based BYD, backed by Warren Buffett’s Berkshire Hathaway,...

20 Feb China’s EV price war to hot up as carmakers respond to BYD’s discounts and apply more pressure on petrol vehicle industry

Posted at 13:00h in Asia

Three carmakers, including a General Motor’s (GM) venture, have priced their electric vehicles (EVs) below the 100,000 yuan (US$13,894) threshold in China, firing the first salvo in a price war that could reshape the country’s automotive sector.SAIC-GM-Wuling – GM’s three-way venture with Chinese partners SAIC...

12 Jan Tesla cuts prices in China on Model 3 and Model Y EVs to keep commanding lead in premium segment of fast-growing market

Posted at 05:00h in Asia

Tesla has cut the prices of its Shanghai-made vehicles by up to 6 per cent as it works to maintain its leading position in the premium segment of the world’s largest electric vehicle (EV) market.The Texas-based company announced on Friday that the price...

07 Jan Chinese EV maker Geely introduces first pure electric Galaxy model, to woo mainstream buyers from BYD, foreign brands

Posted at 09:00h in Asia

Geely Automobile Group, one of China’s largest private carmakers, has launched a pure electric sedan under its mass-market brand Galaxy to take on BYD’s bestselling models amid intensified competition.The basic edition of the E8, with a driving range of 550 kilometres, sells for 175,800...

04 Jan Chinese EV maker Hozon predicts fivefold jump in overseas sales as growth slows in hyper-competitive domestic market

Posted at 22:00h in Asia

Chinese electric vehicle (EV) start-up Hozon New Energy Automobile expects its sales outside mainland China to jump five-fold in 2024 as the country’s increasingly confident carmakers look to international sales to counter slowing growth at home.The Shanghai-based maker of Neta-branded cars, aims to deliver...

price cuts Tag

28 Mar BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

20 Feb China’s EV price war to hot up as carmakers respond to BYD’s discounts and apply more pressure on petrol vehicle industry

12 Jan Tesla cuts prices in China on Model 3 and Model Y EVs to keep commanding lead in premium segment of fast-growing market

07 Jan Chinese EV maker Geely introduces first pure electric Galaxy model, to woo mainstream buyers from BYD, foreign brands

04 Jan Chinese EV maker Hozon predicts fivefold jump in overseas sales as growth slows in hyper-competitive domestic market

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