price war Tag

08 Mar Tesla fails to keep up with China’s fast-growing EV sector amid escalating price war, posts declining February sales

Posted at 12:30h in Asia

Tesla’s February deliveries in mainland China, the world’s largest electric-vehicle (EV) market, failed to keep up with the overall industry amid an escalating price war.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...

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06 Mar China’s BYD launches third EV model in India, starts work on Brazil plant as it revs up overseas expansion

Posted at 05:58h in Asia

BYD, the world’s largest electric-vehicle (EV) maker, has launched a new model in India and started construction on a factory in Brazil.The company’s push into potentially huge overseas markets coincides with a discount war in mainland China, where fiercer competition is seen hurting carmakers’ profitability...

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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...

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04 Mar China EV price war: BYD and Xpeng up the ante as they offer heavy discounts to arrest sales slump

Posted at 07:30h in Asia

The discount war in China’s electric vehicle (EV) space is picking up pace, with leading players BYD and Xpeng slashing the prices of their bestselling models to cushion falling sales. More carmakers are expected to join the fray as they go all out to maintain...

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03 Mar Stellantis-backed Leapmotor cuts C10 SUV price by nearly a fifth as China’s EV war rolls on

Posted at 07:19h in Asia

The pure electric version of the C10 starts at 128,800 yuan (US$17,897), 17.3 per cent lower than the presale price of 155,800 yuan in January. It has a driving range of 410 kilometres.Robotic arms assemble cars at Leapmotor’s factory in Jinhua, Zhejiang province. Photo: China...

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28 Feb Geely’s Zeekr 001 takes on Tesla’s Model 3 with 10% price cut as discounts deepen in China’s EV market

Posted at 07:30h in Asia

Geely’s premium electric-vehicle (EV) unit Zeekr has cut prices by 10 per cent, joining the fray against mainland Chinese rivals after BYD fired the first salvo this month.The refreshed versions of the Zeekr 001, which competes with Tesla’s Model 3, are now priced at 269,000...

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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...

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01 Jan Chinese EV makers face day of reckoning in 2024 as competition and price war force out underperformers

Posted at 23:00h in Asia

Slowing growth, intensifying competition and a bruising price war will pile pressure on the 200-plus Chinese electric vehicle (EV) makers this year, with some underachieving players likely buckle and fold.Most of the companies will have to staunch losses to avert a potential capital crunch...

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