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BYD
BYD executive vice-president Stella Li speaks at the IAA Mobility car show in Munich on Monday. Photo: EPA
Electric & new energy vehicles

BYD ramps up showroom openings, targets full local production in Europe

The Berkshire Hathaway-invested EV maker plans to open 2,000 dealerships by 2026 and produce all models for sale in Europe locally by 2028.

Electric & new energy vehicles

CATL bets on tailor-made batteries to win in Europe’s EV market

China’s private sector

China’s 2024 Brazil investment doubled to highest level since Covid: report

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Electric & new energy vehicles

China’s EV makers face uphill task to meet 2025 break-even target

From Nio to Xpeng and Zeekr, China’s EV start-ups have been reporting smaller second-quarter losses as discounts lured more buyers to battery-driven cars.

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Nio’s EV workers inspected a vehicle chassis on an automated production line in eastern China’s Hefei city on January 17, 2025. Photo: Getty Images
Nio’s EV workers inspected a vehicle chassis on an automated production line in eastern China’s Hefei city on January 17, 2025. Photo: Getty Images
Electric & new energy vehicles

Chinese off-road vehicle brand 212 eyes Europe, Middle East, Africa for growth

212 Off-Road Vehicle plans to offer a slate of petrol-powered and electric vehicles in an effort to capture overseas growth.

SCMP Highlights

China’s budget-friendly EVs, Tesla price cuts: 7 EV reads you missed

From China revealing its past EV subsidies to budget car manufacturers, here are seven EV stories you may have missed.

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Electric & new energy vehicles

Chinese EV makers’ budget-friendly models power sales in August

Leapmotor, Xpeng and Galaxy post record-breaking sales, thanks to their inexpensive EV models.

Leapmotor vehicles are parked outside a showroom in Hangzhou in eastern China’s Zhejiang province. Photo: AP
Leapmotor vehicles are parked outside a showroom in Hangzhou in eastern China’s Zhejiang province. Photo: AP
Electric & new energy vehicles

Chinese carmakers gear up for Munich show as EV competition heats up at home

BYD, Xpeng and Leapmotor are among major Chinese EV makers showing off new models at the IAA Mobility 2025 expo next week.

Electric & new energy vehicles

Tesla China cuts price of new Model 3 as moment of truth nears

Extended-range Model 3 and six-seat Model Y – both bids to arrest a slide in market share – are expected to debut this month.

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Banking & finance

China innovation to unlock opportunities for Hong Kong markets: HSBC’s Liao

‘China has proven that it is investible and most importantly, indispensable,’ Liao says at a conference in Shenzhen.

David Liao, HSBC Holdings’ co-chief executive for Asia and the Middle East. Photo: Jonathan Wong
Electric & new energy vehicles

BYD profits fall as mainland China price war swamps EV export surge

Second-quarter profits drop 30 per cent for the world’s largest EV maker, despite 145 per cent year-on-year rise in overseas deliveries.

The BYD Hefei loads electric vehicles for export to Belgium at Suzhou Port in Suzhou, China, on January 11, 2025. Photo: Getty Images
The BYD Hefei loads electric vehicles for export to Belgium at Suzhou Port in Suzhou, China, on January 11, 2025. Photo: Getty Images
Business of climate change

China to have 300,000 driverless taxis in 4 top-tier cities by 2030: UBS

‘Given the fast development of technologies and the increasingly expensive labour cost, autonomous vehicles’ will drive productivity: UBS.

Banking & finance

Lidar sensor maker Hesai Group gets regulatory approval for Hong Kong IPO

Shanghai-based Hesai plans to issue up to 51.24 million shares on the Hong Kong stock exchange.

Banking & finance

Shares in Chinese energy-storage firm Shuangdeng soar in Hong Kong debut

Stock ended the day 31 per cent above the offer price, valuing the company at HK$7.94 billion (US$1 billion).

Shuangdeng Group’s Chairman Yang Rui (right) struck the ceremonial gong to mark the trading debut of his company’s shares on the Hong Kong stock exchange on August 26, 2025. Photo: Julie Zhang
Electric & new energy vehicles

Dongfeng Motor to list EV unit in Hong Kong, privatise parent firm

State-owned giants are facing growing challenges amid competition from privately owned EV makers like BYD and Xiaomi.

A Dongfeng Motor store in Yichang, Hubei province. Photo: Costfoto/NurPhoto via Getty Images
A Dongfeng Motor store in Yichang, Hubei province. Photo: Costfoto/NurPhoto via Getty Images
Artificial intelligence

Tesla upgrades EV voice assistant system with AI from DeepSeek and ByteDance

DeepSeek’s namesake chatbot and ByteDance’s Doubao AI model are expected to help Tesla better engage with EV buyers in China.

IPO

Alibaba to spin off Banma self-driving business via Hong Kong IPO

Alibaba’s stake in Banma will drop to 30 per cent from the current 44.72 per cent after the IPO, the tech behemoth says.

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Mergers & Acquisitions

China’s oldest carmaker eyes stake in Leapmotor amid EV surge

The investment, which is yet to be finalised, would lead to joint development of EVs and bolster overseas expansion, report says.

Leapmotor EVs are parked outside a showroom in Hangzhou in eastern China’s Zhejiang province. Photo: AP
Leapmotor EVs are parked outside a showroom in Hangzhou in eastern China’s Zhejiang province. Photo: AP
SCMP Highlights

Chinese EV makers report sales dip in July; latest Tesla Model 3: 7 EV reads

From CATL leaving a lithium mine idle in China to BYD challenging Tesla in Hong Kong, here are seven EV stories you may have missed.

Xiaomi

Xiaomi posts record revenue in second quarter on strong electric vehicle sales

Net profit rose 75.4 per cent year on year to reach a record high of US$1.5 billion, exceeding the forecast by analysts.

Electric & new energy vehicles

Tesla’s revamped Model Y aimed at regaining mainland market share from rivals

The six-seat Model Y L SUV is priced from 339,000 yuan (US$47,182), with deliveries to commence next month.

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Tesla’s new Model Y L three-row SUV has a driving range of 751km is 8 per cent more expensive than the existing long-range edition. Photo: AP
Electric & new energy vehicles

Leapmotor’s stock and sales soar to become a new challenger in China’s EV market

The company has raised its 2025 sales target to 500,000 units and is tipped to deliver its first annual profit.

Robotic arms work at Leapmotor’s EV factory in Jinhua, Zhejiang province. Photo: Zhejiang Daily Press Group/VCG via Getty Images
Robotic arms work at Leapmotor’s EV factory in Jinhua, Zhejiang province. Photo: Zhejiang Daily Press Group/VCG via Getty Images
Electric & new energy vehicles

Tycoon Li Shufu’s Geely Auto posts first-half profit drop, but beats estimates

The company reported a net profit of 9.3 billion yuan (US$1.3 billion), down 14 per cent from 10.8 billion yuan a year earlier.

China’s private sector

China’s Ganfeng to develop major lithium project in Argentina with Swiss partner

Move follows closure of China’s Jianxiawo mine.

Electric & new energy vehicles

Tesla launches longer-range Model 3 EV for China with 14% price bump

With 830km range, new variant aims to staunch US carmaker’s bleeding market share in the world’s biggest EV market.

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A woman views a Tesla Model 3 during the third China International Supply Chain Expo at the China International Exhibition Center, in Beijing on July 18. Photo: AP Photo
China Future Tech
HIGHLIGHTS FROM
China Future Tech

Tech Trends

Baidu updates AI reasoning model to rival systems from DeepSeek, OpenAI, Google

Baidu says its X1.1 reasoning model surpasses the performance of DeepSeek-R1, while matching OpenAI’s GPT-5 and Google’s Gemini 2.5 Pro. Photo: Handout

China Economy

As China’s ‘Air Silk Road’ grows, can homegrown C909, C919 jets take off abroad?

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This photo taken on March 4, 2024, shows a Chinese airplane C919 at Wattay International Airport in Vientiane, Laos. Photo: Xinhua

Big Tech

China’s MGI Tech touts 10-minute genome reading with new sequencer

MGI Tech touts its new machine as a ‘bridge between scientific discovery and real-world health outcomes’. Image: Shutterstock

Tech

Alibaba donates to Tsinghua University in effort to groom AI talent

Tsinghua University president Li Luming (right) presents a commemorative plaque to Alibaba CEO Eddie Wu Yongming to mark the donation. Photo: Handout

Big Tech

Tesla targets China’s humanoid robot market with new Weibo account

Visitors look at Tesla’s Optimus robot at its exhibition booth during the World Artificial Intelligence Conference in Shanghai in July 2024. Photo: AFP/Getty Images/TNS
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