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Nick Lai

(黎永強)

Nick Lai
黎永強
The latest news and top stories on Nick Lai, the Head of Asia Auto Research and Head of China Equity Research at JPMorgan.
Visitors check a BYD Seagull electric vehicle at Auto China in Beijing on April 26. Photo: Reuters
BYD

BYD, China’s EV king, posts a 55% slump in first-quarter profit

The company reports a net profit of nearly 4.09 billion yuan (US$590 million) and revenue of 150.2 billion yuan.

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Electric & new energy vehicles

Chinese EV makers target global expansion at Auto China amid energy shock

Electric & new energy vehicles

China’s premium EVs mount tech-powered challenge to BMW, Mercedes-Benz at expo

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Electric & new energy vehicles

CATL to supercharge China’s EV sector with revamped battery tech

World’s largest EV battery producer reveals third-gen product that charges in under six and a half minutes, easing drivers’ range anxiety.

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People look at a model of CATL’s Chocolate 26# Battery during the CATL Tech Day event ahead of the Beijing Auto Show in Beijing on April 21. Photo: AFP
Mainland China

How China’s EV makers think they can outrun disastrous price wars

At Beijing’s urging, an industry largely built on discounting must hold the line on prices and convince buyers to pay for better technology.

Electric & new energy vehicles

BYD’s four-year profit run ends, eyes global markets as next engine of growth

Earnings at China’s EV leader fall short of expectations amid intense domestic competition.

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Electric & new energy vehicles

Chinese carmakers step up global expansion using idled foreign facilities

Great Wall Motors, Geely and other Chinese carmakers are using an asset-light strategy to accelerate their growth overseas.

China’s Great Wall Motor is in talks with Mercedes-Benz to share the German carmaker’s factory in East London, South Africa. Photo: Reuters
Electric & new energy vehicles

China’s efforts to control EV price war sees carmakers paying vendors quicker

Only a handful of the nearly 50 mainland China-based EV builders have been able to turn a profit amid the price wars.

Electric & new energy vehicles

Chinese carmaker BYD chases 24% export growth with new models, more showrooms

Shenzhen-based company expects to sell 1.3 million cars this year outside mainland China.

Electric & new energy vehicles

Editorial | China’s EV industry should focus on consolidation at home, expansion abroad

With Beijing discouraging ‘irrational competition’, the fewer brands with greater scale that emerge from the consolidation wave should look to opportunities abroad.

Workers assemble Zeekr models at a plant in Ningbo, Zhejiang province, on April 17, 2025. Photo: AP
Electric & new energy vehicles

Chinese EV makers’ outlook overseas improves as Europe levels the playing field

Europe’s 33 per cent EV sales growth outpaces the mainland in 2025, while Germany launches a US$3.5 billion subsidy programme.

A BYD Seal is displayed at the Brussels Motor Show on January 9, 2026. Photo: EPA
Electric & new energy vehicles

China-EU tariff consensus on EVs will cut shipments but boost profits

Agreement on price floors will allow mainland carmakers to avoid price wars and nurture brand reputation, analysts say.

Electric & new energy vehicles

Beijing renews trade-in subsidy scheme amid domestic car market’s gloomy outlook

Buyers who replace their petrol and electric cars with new vehicles will receive a cash subsidy of up to US$2,858 per unit.

Electric & new energy vehicles

Dozens of Chinese EV makers under pressure to fold or trim operations: analysts

Grappling with expiring cash subsidies and tax incentives, China’s car market is forecast to see deliveries slump next year.

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About 50 unprofitable Chinese electric vehicle makers face pressure to scale down their business or wind down operations. Photo: Shutterstock
Electric & new energy vehicles

Chinese SUV maker Jetour pushes localised offerings to hasten go-global drive

Jetour is already present in more than 100 countries and regions after seven years in operation.

Jetour International president Ke Chuandeng speaks at a fan gathering in Abu Dhabi on December 20,2025. Photo: Handout
Electric & new energy vehicles

China’s approval for L3 self-driving cars to stimulate slowing mainland market

Chinese carmakers could sell about 270,000 semi-autonomous vehicles next year, representing 1 per cent of the total market, Daiwa says.

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Electric & new energy vehicles

Xpeng, Li Auto given approval to test ‘hands-off’ L3 cars amid slowing market

Deregulation to legalise L3 technology represents a leap forward in commercialising autonomous driving systems in China.

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Electric & new energy vehicles

Xpeng steps up ‘go global’ drive with Malaysian assembly hub for Southeast Asia

The Guangzhou-based company said it would partner with Malaysia’s EP Manufacturing to locally assemble intelligent EVs.

Workers conduct final checks on an Xpeng new energy car at the firm’s plant in Zhaoqing, Guangdong province, on October 9, 2023. Photo: Xinhua
Electric & new energy vehicles

Tesla’s China plant sees shipment surge ahead of subsidy expiry

However, the rebound may not be sufficient to help the company reclaim lost ground in China, an analyst says.

Electric & new energy vehicles

China’s EV makers post stellar sales before incentives are phased out next year

Leapmotor leads the pack with record sales for a seventh month in a row, while Voyah and Zeekr put on a strong performance.

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Made in China 2025

Chinese EV makers tipped to storm global top 10 carmakers by 2030, McKinsey says

Chinese carmakers are expected to climb the global league tables over the next five years, as technology and scale disrupt the leaders.

China’s EV makers are expected to be among the top 10 in the world league table by 2030. Photo: Xinhua
Electric & new energy vehicles

Chinese EV makers step on gas abroad amid weakening mainland sales

A growing export drive by Chinese EV makers aims to soak up overcapacity and secure better profits as incentives fade.

Leapmotor announced this week that two of its models would make their debuts in Brazil and Chile. Photo: Handout
Made in China 2025

China’s Xpeng posts record revenue as robotaxi and humanoid ambitions take shape

JPMorgan raises Chinese electric-vehicle maker’s price target, citing long-term AI potential.

BYD

BYD’s quarterly profit falls as weak China sales erode exports growth

Profit fell to US$1.1 billion in the September quarter amid slowing sales and price cuts in BYD’s home market.

Electric & new energy vehicles

Chinese EV maker BYD’s sales surge in Europe, narrowing gap with Tesla

New-car registrations in Europe in September jump nearly fivefold from a year earlier to just under 25,000.

BYD cars sit in a lot in a port area of Wilhelmshaven, Germany, on October 25, 2025. Photo: DPA
Electric & new energy vehicles

China car sales to slump in 2026 if Beijing scraps subsidies, JPMorgan says

The bank predicts flat sales at best – and a 5 per cent decline at worst – because incentives have merely brought demand forward.

Robots weld car bodies at a factory of Chinese electric vehicle maker Li Auto in Changzhou, in eastern China’s Jiangsu province, on January 10, 2024. Photo: Xinhua
Electric & new energy vehicles

China’s car dealers feel squeeze between price war, e-commerce rivals

Industry consortium pleads for support as market share continues to slide, while an analyst says a turnaround is ‘unlikely’.

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.

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