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Chinese Ev Market

All articles tagged with #chinese ev market

business1 year ago

Chinese EVs: Global Ambitions Amid Domestic Challenges

Despite record sales, many Chinese electric vehicle (EV) makers like Nio, Xpeng, and Zeekr are struggling financially due to a fierce price war and the pressure to launch affordable models. Nio reported a significant net loss of $700 million in Q3, while Xpeng and Zeekr also faced substantial losses. In contrast, BYD has thrived, posting strong profits and surpassing Tesla in quarterly sales, benefiting from its vertically integrated manufacturing approach. Xpeng's CEO predicts that only a few Chinese EV companies will survive the next decade.

via Business Insider|
#business#byd#chinese-ev-market
business1 year ago

"Xiaomi's Electric Car Announcement Sends Stock Soaring"

Xiaomi's announcement of launching a new EV has caused a surge in Chinese EV stocks, including NIO, as the company aims to become one of the world's top five automakers. The upcoming four-door Su7 EV sedan is expected to outperform Tesla's EVs in terms of acceleration time, potentially making Xiaomi a strong competitor in the EV market. While this development has provided a much-needed boost to Chinese EV producers, the market remains highly competitive, and the impact of Xiaomi's entry into the market on NIO's future is uncertain.

via InvestorPlace|
#business#chinese-ev-market#competition
business-automotive1 year ago

HiPhi, Premium Chinese EV Brand, Halts Production for 6 Months

Premium Chinese EV brand HiPhi has announced a six-month production halt, with employees to be paid as usual until February 18 and only basic salaries to be paid after March 15, affecting both current and future models. The company had previously postponed January salaries, canceled year-end awards, and implemented pay cuts. This move comes amid rumors of layoffs and financial difficulties, signaling further challenges in the competitive Chinese EV market.

via CnEVPost|
#business-automotive#chinese-ev-market#electric-vehicles
business2 years ago

Stellantis Secures $1.6 Billion Investment in Chinese EV Startup Leapmotor

Stellantis, the parent company of brands like Jeep and Dodge, has announced a $1.6 billion investment in Chinese electric vehicle (EV) startup Leapmotor. The investment will establish the Leapmotor International joint venture, with Stellantis holding a majority 51% interest. The move aims to boost sales of Leapmotor's EVs overseas and help Stellantis gain a stronger foothold in the competitive Chinese EV market. Stellantis currently holds just a 0.3% market share in China. The deal will provide Stellantis with access to Leapmotor's technology and manufacturing capabilities, while Leapmotor can leverage Stellantis' network to expand its presence in Europe. However, previous partnerships between traditional automakers and Chinese companies have faced challenges, casting some doubt on the success of this investment.

via CNBC|
#business#chinese-ev-market#electric-vehicles