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EVs: Companies

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EVs: Companies
Stay updated on China’s booming electric vehicle industry, a key driver of global EV adoption and sustainability efforts.
last updated:
12 December, 2024
EVs sit at a charging station in Beijing on December 26, 2024. Photo: Xinhua
Electric & new energy vehicles

China’s discount war rolls on after 227 EV models slashed prices in 2024

Industry embarks on a new round of price competition that is likely to edge out more underachieving players in 2025.

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Electric & new energy vehicles

China’s 30,000 car dealers face bleak 2025 as price war, e-commerce crimp margins

Electric & new energy vehicles

BYD’s fourth-quarter EV output beats Tesla as world’s No 1

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Electric & new energy vehicles

Here are the 6 biggest winners in China’s nationwide EV buying spree

BYD, Nio, Xpeng, Li Auto, Stellantis-backed Leapmotor and Geely’s Zeekr all delivered record numbers of EVs last month.

BYD’s electric cars awaiting loading onto a ship for exports at Taicang Port in Suzhou on February 8, 2024. Photo: AFP
Semiconductors

China struggles to build car chip supply chain to break free of imports

The country’s self-sufficiency rate for automotive chips is currently less than 10 per cent, according to an official at MIIT.

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IPO

Chery adds JPMorgan to arrange US$1 billion Hong Kong listing

The company may seek a valuation of more than 100 billion yuan (US$14 billion ), people familiar with the matter have said.

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Electric & new energy vehicles

Chinese carmakers to slow down new luxury EV releases due to weak demand: analysts

Analysts believe things will slow down next year in the luxury EV market due to weak demand and dwindling troves of cash.

On Thursday, Shenzhen Denza New Energy Automotive, an EV venture between BYD and Mercedes-Benz, launched the 2025 version of its D9, a luxury multipurpose vehicle. Photo: Denza
Artificial intelligence

Tesla rival Li Auto wants to expand into an AI and robot company

The premium EV maker aims to produce humanoid robots after achieving level-4 autonomous driving, CEO Li Xiang says.

International Property

Chinese firms seek European base for factories amid trade tensions, tariffs

European industrial real estate developer CTP expects increased demand from Chinese firms that do not want to get caught in the trade war.

Foxconn

Foxconn invests in EV battery plant in China’s iPhone city

The US$82 million capital injection marks the Taiwanese giant’s latest foray into the electric-vehicle sector.

The Foxconn building in Taipei. Photo: Reuters
Electric & new energy vehicles

Exclusive | China’s EV champion Geely bets on tech edge to expand in Asia, EU

In an interview with the Post, Geely CEO Gui Shengyue discusses the company’s overseas strategy and EU tariffs.

Geely’s Robocar Jiyue 01 is displayed at the Beijing Auto Show on April 29, 2024. Photo: AFP
Mergers & Acquisitions

Nissan and Honda may merge to take on larger rivals and EV makers

Honda is considering several options including a merger, capital tie-up or the establishment of a holding company, Executive Vice-President Shinji Aoyama said.

Electric & new energy vehicles

Geely banks on profits from petrol cars as EVs inflict losses on rivals

‘As a carmaker, you will lose a profit growth engine if you do not make petrol cars,’ CEO Gui Shengyue says in interview.

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Electric & new energy vehicles

Indonesia gives tax incentives to EV makers including China’s BYD, GAC Aion

The carmakers, which are building factories in Indonesia, will enjoy an exemption on import taxes and a break on luxury taxes.

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Workers assemble an EV inside BYD’s first EV factory in Southeast Asia, in Rayong, Thailand, on July 4, 2024. Photo: Reuters
SCMP Highlights

Hong Kong launch pad for Chinese EVs, Xiaomi unveils electric SUV: 7 EV reads

From Chinese start-up Hozon eyeing exports to Chinese electric vehicle makers favouring Hong Kong, here are seven EV stories you may have missed.

A file photo of the Xpeng P7+. Photo: Xpeng
Electric & new energy vehicles

Beijing sees Hong Kong as launch pad for Chinese EV makers to go global

Hong Kong ‘can act as a two-way gateway for Chinese EV makers to go overseas and bring in new technologies’.

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SCMP Highlights

EV makers’ ‘do-or-die’ moment, Hyundai’s big Malaysia investment: 7 EV reads

From China’s cutthroat clean energy vehicle market to Malaysia eyeing Southeast Asia’s EV hub crown, here are seven EV stories you may have missed.

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Electric & new energy vehicles

Foreign carmakers risk losing up to US$20 billion a year in China: UBS

‘We think foreign automakers need to re-evaluate and adjust their strategies’ in China, bank says.

A BYD factory in Thailand. Photo: Reuters
China economy

My Take | Tesla is getting love from Chinese state media, but can the affair last?

Communist Party mouthpiece People’s Daily praised Tesla for sparking an EV boom, but Musk’s role in a new Trump administration could complicate matters.

Electric & new energy vehicles

BYD set to usurp VW as China’s top carmaker amid surge in EV deliveries

BYD’s total deliveries have exceeded perennial leader Volkswagen’s volume this year through October.

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Xiaomi

Xiaomi revenue surges after EVs cross 100,000 threshold

Xiaomi pulled in US$12.8 billion in the quarter ended September, after reaching its goal to produce 100,000 EVs this year.

Xiaomi’s SU7 electric sedan displayed at a store in Shanghai on July 31. Photo: Shutterstock
Electric & new energy vehicles

Why Zeekr shares slumped in New York on news of Geely Auto reorganisation

Zeekr loses 24 per cent in New York trading after announcement of Geely Auto reorganisation plan.

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Billionaire founder Li Shufu is reorganising his EV empire amid stiffer competition at home and overseas. Photo: Xinhua
Electric & new energy vehicles

China’s EV production moves into fast lane as output hits 10 million

Chinese EV makers have delivered 9.75 million units to mainland buyers between January and October, a year-on-year jump of 34 per cent.

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US-China tech war

China’s tech firms fear bigger curbs as TSMC stops AI chip supply

A wider shipment ban on TSMC-made chips could affect a range of mainland businesses from electric vehicles to smartphones.

Electric & new energy vehicles

EV review: BYD’s Dolphin is the ideal city car for zipping around town

The German news agency Deutsche Presse-Agentur said in August 2023 that the Dolphin was ‘a real threat to the German car industry’.

BYD’s Dolphin electric car on display at the 44th Bangkok International Motor Show on March 23, 2023. Photo: Reuters
Electric & new energy vehicles

Xpeng to rival BYD, Li Auto in hybrid car market amid shift in consumer demand

Company unveiled Kunpeng, a new charging system for hybrid cars, touted as the longest range extender system in the industry.

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Xpeng unveils its plan for the extended-range hybrid market during its corporate AI Day in Guangzhou on November 5. Photo: Xpeng
Electric & new energy vehicles

EV review: Nio’s ET7 rivals Germany’s best in some ways, at lower price

The sedan offers a swappable battery and luxurious interior materials, but falls short of some domestic rivals when it comes to self-driving.

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Electric & new energy vehicles

China’s biggest EV tariff victims toe the line on Europe’s levies

The two denials followed Monday’s statement by the Ministry of Commerce that a state-backed guild was solely authorised to engage with the EU in tariff talks.

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