Innovation speed key to NEV success in 2025
2 months, 3 weeks ago

Innovation speed key to NEV success in 2025

China Daily  

People look at a Xiaomi SU7 electric car during an automobile exhibition in Tianjin in October. TANG KE/FOR CHINA DAILY BEIJING — Despite facing challenges, China's new energy vehicle manufacturers made significant strides in 2024 and are poised to gain continued momentum as carbon reduction targets drive global demand for clean-energy vehicles. China has topped the global list for nine consecutive years in terms of both NEV output and sales, contributing to over 60 percent of the world's NEV output and sales in 2023. Cui Dongshu, secretary-general of the China Passenger Car Association, attributed last year's NEV sales growth in part to strong policy support. In October, NEV giant BYD shattered the monthly sales record for Chinese auto companies in terms of NEV sales, delivering an astounding 502,657 units and setting a new monthly sales record for global car manufacturers.

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History of this topic

China's BYD reports 34% net profit increase to $5.6 billion in 2024
5 days, 9 hours ago

China's BYD reports 34% net profit increase to $5.6 billion in 2024

China Daily  

SHENZHEN - China's leading new energy vehicle manufacturer BYD Company Limited has reported robust profit growth in 2024, driven by booming car sales. BYD's net profit attributable to its shareholders grew 34 percent year-on-year to 40.25 billion yuan last year, the company said in its annual report filed to the Shenzhen Stock Exchange on Monday night. Its vehicle and vehicle-related …

BYD overtakes Tesla in 2024 revenue, becomes World's top EV maker
5 days, 9 hours ago

BYD overtakes Tesla in 2024 revenue, becomes World's top EV maker

India Today  

Chinese electric vehicle giant BYD achieved record-breaking revenue of 777.1 billion yuan in 2024, surpassing Tesla's $97.7 billion for the first time. However, despite this strong performance, BYD's shares on the Hong Kong Stock Exchange dipped by 3.2% on Tuesday. BYD rises as Tesla falters BYD's success report comes at a time when its biggest rival, Tesla, is facing trouble …

China hits record auto sales with 41% market share as of Dec
1 month, 2 weeks ago

China hits record auto sales with 41% market share as of Dec

China Daily  

Visitors check out a Yangwang U7 at the 22nd Guangzhou International Automobile Exhibition held at the Canton Fair complex in Guangzhou, on Nov 15, 2024. China's market share of car sales in the global market hit a record high of 41 percent in December last year, said Cui Dongshu, secretary-general of the China Passenger Car Association on Sunday. China's share …

Chinese provinces set tailored plans to support emerging, future industries
2 months ago

Chinese provinces set tailored plans to support emerging, future industries

China Daily  

This photo taken on Feb 1, 2024 shows a NEV production line at the Nio Second Advanced Manufacturing Base in Hefei, East China's Anhui province. At least five provinces or municipalities, including Shanghai, Guangdong, Zhejiang and Liaoning, proposed blueprints to boost the semiconductor industry, considered a critical "bottleneck" sector in China. The eastern province of Anhui is advancing an international …

Chinese provinces set tailored plans to support emerging, future industries
2 months ago

Chinese provinces set tailored plans to support emerging, future industries

China Daily  

This photo taken on Feb 1, 2024 shows a NEV production line at the Nio Second Advanced Manufacturing Base in Hefei, East China's Anhui province. At least five provinces or municipalities, including Shanghai, Guangdong, Zhejiang and Liaoning, proposed blueprints to boost the semiconductor industry, considered a critical "bottleneck" sector in China. The eastern province of Anhui is advancing an international …

Fresh measures to fuel new energy vehicle sector
2 months, 1 week ago

Fresh measures to fuel new energy vehicle sector

China Daily  

Employees work at an auto production facility in Jinhua, Zhejiang province, in April 2024. China is set to roll out a series of targeted measures to fuel growth in its new energy vehicle sector, as part of broader efforts to stabilize key industries and drive economic growth, said the country's top industry regulator on Tuesday. "With domestic competition intensifying and …

Positive forecast for 2025 in auto sector
2 months, 3 weeks ago

Positive forecast for 2025 in auto sector

China Daily  

Visitors crowd the Chengdu Auto Show in August. China's automotive industry is set to maintain its leadership in global markets in 2025, with a major industry think tank forecasting total vehicle sales to reach approximately 32 million units in 2025, representing a 3 percent year-on-year increase. "The integration of intelligent technologies will move beyond luxury vehicles to become accessible in …

Innovation speed key to NEV success in 2025
2 months, 3 weeks ago

Innovation speed key to NEV success in 2025

China Daily  

People look at a Xiaomi SU7 electric car during an automobile exhibition in Tianjin in October. TANG KE/FOR CHINA DAILY BEIJING — Despite facing challenges, China's new energy vehicle manufacturers made significant strides in 2024 and are poised to gain continued momentum as carbon reduction targets drive global demand for clean-energy vehicles. China has topped the global list for nine …

Revved-up year for NEV biz
2 months, 3 weeks ago

Revved-up year for NEV biz

China Daily  

By LIU YUKUN | China Daily | Updated: 2025-01-03 07:07 Workers seen at a new energy vehicle production line in Liuzhou, Guangxi Zhuang autonomous region. JIN HAOYUAN/XINHUA China is on the cusp of leading the global transition to electric vehicles with sales overtaking fossil fuel-powered cars in 2025 and outperforming other countries, said a recent report by the UK-based Financial …

Robust NEV sector highlights China's green innovation potential
2 months, 4 weeks ago

Robust NEV sector highlights China's green innovation potential

China Daily  

BEIJING -- China's major battery maker CATL recently launched a new electric vehicle chassis that can withstand a high-speed frontal impact at 120 km/h without catching fire, exploding, or causing any spread of damage, injecting new momentum into the innovative development for new energy vehicles. Innovation has become the focal point of China's NEV sector over the past year, highlighted …

Robust NEV sector highlights China's green innovation potential
2 months, 4 weeks ago

Robust NEV sector highlights China's green innovation potential

China Daily  

BEIJING -- China's major battery maker CATL recently launched a new electric vehicle chassis that can withstand a high-speed frontal impact at 120 km/h without catching fire, exploding, or causing any spread of damage, injecting new momentum into the innovative development for new energy vehicles. Innovation has become the focal point of China's NEV sector over the past year, highlighted …

Survival of fittest as market hots up
3 months, 2 weeks ago

Survival of fittest as market hots up

China Daily  

A Jidu Auto store in a shopping mall of Shanghai on Nov 27. December is expected to see sales exceed 3 million units, with 2024's total car sales likely surpassing 31 million due to favorable trade-in policies and carmakers' ongoing promotions, said Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers. New energy vehicle sales in December will …

China's auto sector achieves strong growth in November
3 months, 2 weeks ago

China's auto sector achieves strong growth in November

China Daily  

Xinhua | Updated: 2024-12-12 11:21 Chinese new energy vehicle startup Leapmotor showcases its models at the 2024 Guangzhou auto show in November. CAO YINGYING/CHINA DAILY BEIJING -- China's auto production rose 11.1 percent year-on-year to 3.44 million units in November 2024, while sales climbed 11.7 percent from a year earlier to 3.32 million units, industrial data showed Wednesday. In the …

China's auto sector achieves strong growth in November
3 months, 2 weeks ago

China's auto sector achieves strong growth in November

China Daily  

Chinese new energy vehicle startup Leapmotor showcases its models at the 2024 Guangzhou auto show in November. BEIJING -- China's auto production rose 11.1 percent year-on-year to 3.44 million units in November 2024, while sales climbed 11.7 percent from a year earlier to 3.32 million units, industrial data showed Wednesday. In the first 11 months of 2024, auto production exceeded …

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China
3 months, 2 weeks ago

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China

Firstpost  

By the end of November, BYD had already delivered 3.76 million vehicles, including over 500,000 units in November alone, putting it on track to surpass its 4 million sales goal for the year The robust performance in China—where over 90 per cent of BYD’s sales occur—places the company ahead of Honda and Ford in global rankings for 2024. Image Credit: …

Nation poised to hold more than half of global EV fleet by 2025
4 months ago

Nation poised to hold more than half of global EV fleet by 2025

China Daily  

By Liu Yukun | China Daily | Updated: 2024-11-29 08:59 Potential car buyers check out an NEV in Xiangyang, Hubei province. YANG DONG/FOR CHINA DAILY International consulting firm Gartner recently forecast that global electric vehicle ownership would rise significantly to hit 85 million by 2025, with China accounting for over half of the global EV fleet. Experts highlight that as …

China's NEV boom boon for global auto sector
4 months, 1 week ago

China's NEV boom boon for global auto sector

China Daily  

A Sitrak hydrogen fuel-cell heavy truck is on display at the automobile exhibition area during the seventh China International Import Expo in Shanghai on Nov 7. SHANGHAI — As the new energy vehicle boom continues in China, global players in related sectors are eyeing a vast array of opportunities and are exerting efforts to tap into this promising market. "China …

China's NEV boom boon for global auto sector
4 months, 1 week ago

China's NEV boom boon for global auto sector

China Daily  

An eVTOL is on display at the seventh China International Import Expo in Shanghai on Nov 7. ZHANG WEI/CHINA DAILY "We aim for the technologies developed in China to influence our R&D approach worldwide, enhancing products and technologies that can be applied across global markets," said Xu. "China's manufacturing sector has matured significantly, providing a strong foundation for us to …

China's NEV boom boon for global auto sector
4 months, 1 week ago

China's NEV boom boon for global auto sector

China Daily  

A Sitrak hydrogen fuel-cell heavy truck is on display at the automobile exhibition area during the seventh China International Import Expo in Shanghai on Nov 7. SHANGHAI — As the new energy vehicle boom continues in China, global players in related sectors are eyeing a vast array of opportunities and are exerting efforts to tap into this promising market. "China …

China's NEV boom boon for global auto sector
4 months, 1 week ago

China's NEV boom boon for global auto sector

China Daily  

A Sitrak hydrogen fuel-cell heavy truck is on display at the automobile exhibition area during the seventh China International Import Expo in Shanghai on Nov 7. SHANGHAI — As the new energy vehicle boom continues in China, global players in related sectors are eyeing a vast array of opportunities and are exerting efforts to tap into this promising market. "China …

China's NEV boom boon for global auto sector
4 months, 1 week ago

China's NEV boom boon for global auto sector

China Daily  

An eVTOL is on display at the seventh China International Import Expo in Shanghai on Nov 7. ZHANG WEI/CHINA DAILY "We aim for the technologies developed in China to influence our R&D approach worldwide, enhancing products and technologies that can be applied across global markets," said Xu. "China's manufacturing sector has matured significantly, providing a strong foundation for us to …

China's NEV boom boon for global auto sector
4 months, 1 week ago

China's NEV boom boon for global auto sector

China Daily  

A Sitrak hydrogen fuel-cell heavy truck is on display at the automobile exhibition area during the seventh China International Import Expo in Shanghai on Nov 7. SHANGHAI — As the new energy vehicle boom continues in China, global players in related sectors are eyeing a vast array of opportunities and are exerting efforts to tap into this promising market. "China …

Latin America shows rising interest in Chinese NEVs
4 months, 1 week ago

Latin America shows rising interest in Chinese NEVs

China Daily  

Workers assemble an electric bus motor at the BYD solar panel and electric bus chassis production facility in Campinas, Sao Paulo state, Brazil, in November last year. The advanced technology and competitive pricing of Chinese NEVs are rapidly translating into rising market share for China's automakers in Brazil and other Latin American countries in recent years. Data from the China …

Insiders: Partnerships crucial in driving NEV industry forward
Trending News
4 months, 3 weeks ago

Insiders: Partnerships crucial in driving NEV industry forward

China Daily  

A Porsche electric car on display at the ongoing China International Import Expo in Shanghai. ZOU HONG/CHINA DAILY Open and collaborative partnerships are the intrinsic forces for developing the global new energy vehicle industry, in order to drive technological advancements and tackle climate change, officials and executives said on Wednesday. China's NEVs not only provide diversified and cost-effective choices for …

Insiders: Partnerships crucial in driving NEV industry forward
Trending News
4 months, 3 weeks ago

Insiders: Partnerships crucial in driving NEV industry forward

China Daily  

A Porsche electric car on display at the ongoing China International Import Expo in Shanghai. ZOU HONG/CHINA DAILY Open and collaborative partnerships are the intrinsic forces for developing the global new energy vehicle industry, in order to drive technological advancements and tackle climate change, officials and executives said on Wednesday. China's NEVs not only provide diversified and cost-effective choices for …

Chinese EV giant BYD posts 24.4% rise in profit
7 months ago

Chinese EV giant BYD posts 24.4% rise in profit

Hindustan Times  

Leading Chinese automaker BYD posted on Wednesday a 24.4 percent rise in net profit for the first half of 2024, boosted by continuing strong demand for electric cars in its home and overseas markets. Chinese EV giant BYD posts 24.4% rise in profit The company posted a net profit of $1.91 billion in the January-June period, up from $1.54 billion …

Big milestone: NEV sales lead all segments
7 months, 1 week ago

Big milestone: NEV sales lead all segments

China Daily  

Export-bound NEVs await shipment in Xiamen, Fujian province. Retail sales of NEVs nationwide reached 878,000 units in July, accounting for 51.1 percent of the total market, according to data released by the China Automobile Dealers Association. The market penetration rate exceeding 50 percent marked a solid step toward accomplishing the government's target of making electric vehicles the mainstream of new …

Smart features drive up Chinese carmakers
7 months, 2 weeks ago

Smart features drive up Chinese carmakers

China Daily  

Su Jun, president of J.D. Smart onboard functions have enabled Chinese automotive startups to make foray into high-end markets and compete with established global giants, said a senior J.D. "Smart NEVs have won the heart of Chinese car buyers," said Su Jun, president of J.D. Smart cockpit technologies are more widely accepted by new vehicle owners in China and are …

New energy vehicles dominate delivery figures for first time
7 months, 2 weeks ago

New energy vehicles dominate delivery figures for first time

China Daily  

The 2024 L9 model displayed at the Li Auto booth attracts visitors' attention during the 21st Changchun International Auto Expo in Changchun, capital of Jilin province, in July. TANG KE/FOR CHINA DAILY Retail sales of new energy vehicles accounted for 51.1 percent of total passenger vehicle deliveries in China in July, outnumbering conventional internal combustion engine vehicles for the first …

China's passenger car exports up 28% in June
8 months, 3 weeks ago

China's passenger car exports up 28% in June

China Daily  

BYD vehicles bound for Brazil await shipment in Lianyungang, Jiangsu province. BEIJING - China's exports of passenger vehicles hit 378,000 units in June, marking a 28 percent increase year-on-year and staying flat compared to the previous month, the latest data showed. With the South American market recovering, exports of Chinese-brand cars hit 325,000 units in June, up 31 percent year-on-year, …

Sales boom enjoyed by Chinese marques
8 months, 3 weeks ago

Sales boom enjoyed by Chinese marques

China Daily  

Customers at a Li Auto store in Shenyang, Liaoning province, on June 15. Its first-half sales reached 1.61 million units, an increase of 28.46 percent year-on-year. In the first half, Geely's cumulative sales reached 955,700 units, a 41 percent year-on-year increase. Li Auto's first-half sales reached 188,981 units, ranking second among NEV startups, just after Huawei's Harmony Intelligent Mobility Alliance, …

Auto sales set to rise with new promotions
9 months ago

Auto sales set to rise with new promotions

China Daily  

A woman hosts a livestream for vehicles at an auto show on June 15. CHEN GUANYAN/CHINA NEWS SERVICE A million yuan of subsidies, half-price vehicles and other eye-catching promotions were provided by auto companies at this year's June 18 online shopping carnival, in efforts to capture consumer attention and stimulate auto sales. A report from Bocom International also forecast that …

Auto sales set to rise with new promotions
9 months ago

Auto sales set to rise with new promotions

China Daily  

A woman hosts a livestream for vehicles at an auto show on June 15. CHEN GUANYAN/CHINA NEWS SERVICE A million yuan of subsidies, half-price vehicles and other eye-catching promotions were provided by auto companies at this year's June 18 online shopping carnival, in efforts to capture consumer attention and stimulate auto sales. A report from Bocom International also forecast that …

China's NEV penetration to hit new high of 49.1% in June: survey
9 months, 1 week ago

China's NEV penetration to hit new high of 49.1% in June: survey

China Daily  

A view of a charging station that utilizes photovoltaic storage systems in Yiyuan county, Shandong province, in May 2023. ZHU ZHENG/XINHUA BEIJING - The penetration rate of new energy vehicles in China, a gauge of popularity, is expected to hit a new high of 49.1 percent in June, as the market continues to grow steadily amid intensifying competition, an industry …

Chinese autos looking to meet global demand
9 months, 4 weeks ago

Chinese autos looking to meet global demand

China Daily  

Consumers experience a BYD electric vehicle at a dealership in Mengzi, Yunnan province, in May. Due to cost-effectiveness, improved quality and efficient after-sales service, Chinese new energy vehicles have steadily gained a larger market share by offering affordable solutions to green transition drives in more countries, especially developing economies. Most recently, Chinese NEVs and auto parts manufacturers are increasingly setting …

Chinese autos looking to meet global demand
9 months, 4 weeks ago

Chinese autos looking to meet global demand

China Daily  

Consumers experience a BYD electric vehicle at a dealership in Mengzi, Yunnan province, in May. Due to cost-effectiveness, improved quality and efficient after-sales service, Chinese new energy vehicles have steadily gained a larger market share by offering affordable solutions to green transition drives in more countries, especially developing economies. Most recently, Chinese NEVs and auto parts manufacturers are increasingly setting …

China's new-energy sector draws interest of global investors
10 months ago

China's new-energy sector draws interest of global investors

China Daily  

Tesla showcases its charging piles and electric vehicles at the 2023 Consumer Technology and Innovation Show on May 30 in Shanghai. Experts said China's fast-growing green technologies and its thriving new-energy market have heightened the country's magnetism for foreign investors, particularly auto firms keen on turbocharging the electrification trend. "The influx of investments by international carmakers has shed light on …

Experts slam 'overcapacity' talk
10 months, 1 week ago

Experts slam 'overcapacity' talk

China Daily  

Employees work at an auto production facility in Jinhua, Zhejiang province, in April. BEIJING — China's booming new energy vehicle sector recently drew scrutiny for purported "Chinese overcapacity" from certain Western nations. As a proactive response to the global green and low-carbon transition, China's thriving sectors like NEVs, wind power and photovoltaics have gained more prominence, Huo said. Huo noted …

Powering the future, today
10 months, 1 week ago

Powering the future, today

China Daily  

WANG XIAOYING/CHINA DAILY Editor's note: The world has undergone many changes and shocks in recent years. For this purpose, the China Watch Institute of China Daily and the National Institute for Global Strategy, Chinese Academy of Social Sciences, jointly present this special column: The Global Strategy Dialogue, in which experts from China and abroad will offer insightful views, analysis and …

China unveils plan to galvanize NEV uptake in rural areas
10 months, 2 weeks ago

China unveils plan to galvanize NEV uptake in rural areas

China Daily  

A robot operates equipment on the assembly line of an automaker in Xi'an, Shaanxi province. YUAN JINGZHI/FOR CHINA DAILY BEIJING - China's Ministry of Industry and Information Technology, in collaboration with four government bodies, has launched a nationwide campaign to bolster the new energy vehicle uptake in China's rural areas. The NEV rural promotion catalog features an impressive array of …

The power source of China's new energy industry
10 months, 2 weeks ago

The power source of China's new energy industry

China Daily  

A view of Chinese carmaker BYD's assembly line of new energy vehicles in Zhengzhou, Henan province. These lively scenes vividly depict the robust growth of China's new energy sector, igniting global curiosity about its unprecedented ascent. In 2023, both production and sales of China's new energy vehicles exceeded 9 million units, maintaining its position as the global leader for nine …

NEV makers move fast in China leveraging innovation, cooperation
10 months, 2 weeks ago

NEV makers move fast in China leveraging innovation, cooperation

China Daily  

Employees work on the assembly line of a new energy vehicle manufacturer in Chongqing. TANG YI/XINHUA HEFEI -- Fierce competition has driven up technological innovation and industrial upgrading in China's new energy vehicle sector, with auto brands revving up investment and seeking cooperation. China's NEVs captured a 62-percent share of the global NEV market in the first two months of …

Mood toward NEV stocks brightens
10 months, 3 weeks ago

Mood toward NEV stocks brightens

China Daily  

A BYD Ocean-M electric car is displayed at the 2024 Auto China in Beijing on April 25, 2024. The trade-in plan is expected to spur demand from Chinese car buyers who adopted a wait-and-see stance in the previous months, said Yin Xinchi, chief auto and parts industry analyst at CITIC Securities. Of the cars that will be eventually traded in, …

Feeling pulse of China's tight NEV market from success of newcomer
11 months ago

Feeling pulse of China's tight NEV market from success of newcomer

China Daily  

Xiaomi CEO Lei Jun speaks during a news conference at the 2024 Beijing International Automotive Exhibition in Beijing, on April 25. In addition to leading NEV manufacturer BYD and domestic up-rising stars such as Li Auto, NIO and Xpeng, a newcomer born from China's smartphone maker Xiaomi has stirred up a new wave of NEV frenzy. Seeing from Xiaomi's successful …

NEV makers encouraged to speed up overseas development
11 months, 3 weeks ago

NEV makers encouraged to speed up overseas development

China Daily  

Visitors look at an electric MG Cyberster during the 45th Bangkok International Motor Show in Bangkok, Thailand on March 27. China will step up efforts to encourage its new energy vehicle companies to accelerate their overseas development, said an official at the Ministry of Industry and Information Technology, warning that the restrictive measures imposed by a "certain country and region" …

Car sales accelerate in March
11 months, 3 weeks ago

Car sales accelerate in March

China Daily  

Employees inspect new energy vehicles on the assembly line of Li Auto's workshop in Changzhou, Jiangsu province, in December. Geely Auto, which owns namesake Geely as well as Lynk & Co and Zeekr, saw its March sales grow 39 percent year-on-year to 150,800 units. Though the growth figures were not as impressive as other major carmakers, a breakdown shows that …

Sales growth forecast despite dip in February
1 year ago

Sales growth forecast despite dip in February

China Daily  

Vehicles are lined up for export in the Haitong International Automotive Terminal in Taicang Port, Jiangsu province, on Dec 1. Data from the China Association of Automobile Manufacturers showed that China's auto sales reached 1.58 million units in February, down 19.9 percent year-on-year and 35.1 percent month-on-month. Car sales rose 11.1 percent year-on-year to 4.03 million units during the first …

NEV brands need to accelerate internationalization
1 year, 1 month ago

NEV brands need to accelerate internationalization

China Daily  

Employees work on the assembly line of a new energy vehicle manufacturer in Chongqing. It should be seen that every one in three exported automobiles from China, 4.91 million units last year to be precise, is an electric car, which contributes significantly to the world's green and low-carbon transition. The NEV industry, characterized by electrification and intelligent technology, is a …

January blues driven away as EV sales go up
1 year, 1 month ago

January blues driven away as EV sales go up

China Daily  

Seres showcases the AITO M5 at the Chengdu auto show in August. Shanghai-listed Seres said its NEV sales in January soared 654 percent year-on-year, primarily driven by AITO-branded vehicles. The number of NEV charging facilities in China grew 65 percent year-on-year in 2023, reaching almost 8.6 million by the end of the year, said Zhang Xing, the National Energy Administration's …

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