1 in Every 7 Cars Sold Now an EV, China's BYD Leaves Behind Tesla
1 year, 6 months ago

1 in Every 7 Cars Sold Now an EV, China's BYD Leaves Behind Tesla

News 18  

One in every 7 cars sold during the first quarter this year was an electric vehicle, dominated by China’s BYD at 21.1 percent market share while Tesla was at second spot, with 16 percent share, a report showed on Wednesday. “Tesla slashed prices for its models globally in January, following which other automotive brands announced similar cuts for their car models starting in February, which led to an improvement in EV sales,” said research analyst Abhik Mukherjee. In China, EV sales experienced a remarkable 29 percent YoY growth, despite a 12 percent decline in overall sales of passenger vehicles in the country. “Although sales of the traditional internal combustion engine vehicles remained stable in Q1 2023 compared with that in the year-ago period, the significant growth in EV sales indicates a rapid transition from traditional vehicles to EVs,” commented senior analyst Soumen Mandal.

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History of this topic

Honda-Nissan merger: EV boom cutting off auto giants' vroom?
3 days, 17 hours ago

Honda-Nissan merger: EV boom cutting off auto giants' vroom?

India Today  

Two of the world’s giant carmakers, Nissan and Honda, are taking steps towards a merger. While Honda’s net profit slumped by 19.7 per cent, Nissan’s fell drastically by 93.5 per cent. Rise of EVs “Electric car sales keep rising and could reach around 17 million in 2024, accounting for more than one in five cars sold worldwide," the Global EV …

The retreat from the world’s largest auto market has begun
6 days, 17 hours ago

The retreat from the world’s largest auto market has begun

CNN  

New York CNN — It wasn’t long ago that China was by far the largest and most profitable market for General Motors. “Every international brand is suffering in China.” While GM has yet to announce the details of its restructuring in China, Schuster and other experts said most Western automakers, including GM, are looking at how long they can stay …

China’s Tesla Model Y rival set to arrive in the UK
1 week, 5 days ago

China’s Tesla Model Y rival set to arrive in the UK

The Independent  

Chinese car maker Xpeng has confirmed its entry into the UK market. Speaking exclusively to The Independent, IM Group managing director William Brown said “the plan is that we will launch the first model in March next year, which is the G6.” open image in gallery The Xpeng G7 features a practical 571 litre boot The G6, a crossover rival …

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

Chinese EV companies set to shine at Thailand expo
2 weeks, 3 days ago

Chinese EV companies set to shine at Thailand expo

China Daily  

Chinese EV companies set to shine at Thailand expo By Yang Wanli in Bangkok China Daily Updated: Dec 06, 2024 Reporters visit the BYD exhibition area during the 41st Bangkok International Motor Expo on Thursday. YANG WANLI/CHINA DAILY Chinese electric vehicle brands are among the most anticipated participants at the 41st Bangkok International Motor Expo, which kicks off on Friday. …

China automakers pivot to hybrids for Europe to counter EV tariffs
2 weeks, 4 days ago

China automakers pivot to hybrids for Europe to counter EV tariffs

Live Mint  

* China hybrid exports to Europe to grow 20% this yr, analyst says * Chinese automakers challenge European and Japanese dominance * Cheaper and more fuel-efficient models to enter the market SHANGHAI, - Automakers in China are ramping up exports of hybrid vehicles to Europe and planning more models for the key market, exposing the limits of the European Union's …

Chinese EV companies set to shine at Thailand expo
3 weeks, 3 days ago

Chinese EV companies set to shine at Thailand expo

China Daily  

Reporters visit the BYD exhibition area during the 41st Bangkok International Motor Expo on Thursday. YANG WANLI/CHINA DAILY Chinese electric vehicle brands are among the most anticipated participants at the 41st Bangkok International Motor Expo, which kicks off on Friday. With many brands set to reveal new models, analysts said Chinese automakers are expected to play a key role in …

Nation poised to hold more than half of global EV fleet by 2025
3 weeks, 3 days 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 …

BYD prepares to go for the kill in Chinese EV market, leaked letter shows plans to intensify price war
3 weeks, 4 days ago

BYD prepares to go for the kill in Chinese EV market, leaked letter shows plans to intensify price war

Firstpost  

BYD’s aggressive pricing strategy appears to be paying off — the Chinese EV maker recently overtook Tesla in revenue for the first time, reporting a gross margin of 21.9 per cent, its highest in a year Unlike some of its rivals, BYD has not only weathered the price war but emerged stronger. The leaked email highlights BYD’s readiness to further …

China’s EV price war is so brutal that BYD is trying to pinch its suppliers
3 weeks, 4 days ago

China’s EV price war is so brutal that BYD is trying to pinch its suppliers

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China’s top maker of electric vehicles wants to pay a lot less for car parts in the new year, a demand that signals there is no end in sight …

Chinese carmaker BYD revs up Brazil's enthusiasm for EVs
1 month ago

Chinese carmaker BYD revs up Brazil's enthusiasm for EVs

China Daily  

By MINLU ZHANG in Rio de Janeiro | China Daily | Updated: 2024-11-22 07:32 Visitors check out a BYD electric car at an exhibition in Salvador, the capital of Brazil's Bahia state, on July 4. I'm very passionate about electric vehicles," he said, adding that some of the 35 employees of the store — all Brazilians — also drive BYD …

China's NEV boom boon for global auto sector
1 month 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 …

Chinese firms power Indonesia's EV sector
1 month ago

Chinese firms power Indonesia's EV sector

China Daily  

By LEONARDUS JEGHO in Jakarta and PRIME SARMIENTO in Hong Kong | China Daily | Updated: 2024-11-22 10:22 Chinese electric vehicles are powering Indonesia's EV industry and gaining ground among local consumers, industry executives say. Rubby Lie, branch head of Prima Wahana Auto Mobil, Wuling Motor's largest authorized dealer in Indonesia, shared optimism about rising local demand for Wuling and …

China's NEV boom boon for global auto sector
1 month 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
1 month 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 …

Chinese firms power Indonesia's EV sector
1 month ago

Chinese firms power Indonesia's EV sector

China Daily  

By LEONARDUS JEGHO in Jakarta and PRIME SARMIENTO in Hong Kong | China Daily | Updated: 2024-11-22 10:22 Chinese electric vehicles are powering Indonesia's EV industry and gaining ground among local consumers, industry executives say. Rubby Lie, branch head of Prima Wahana Auto Mobil, Wuling Motor's largest authorized dealer in Indonesia, shared optimism about rising local demand for Wuling and …

Riding toward a cleaner, greener world
1 month ago

Riding toward a cleaner, greener world

China Daily  

FILE PHOTO: New China-built electric vehicles of the company Xpeng are seen parked in the port of Zeebrugge, Belgium, October 24, 2024. The move, which the EU described as an effort to maintain "fair competition", thinly veils an underlying attempt to curb China's ascendancy in the EV industry. China's EV ecosystem is not only vast, it is also driven by …

Riding toward a cleaner, greener world
1 month ago

Riding toward a cleaner, greener world

China Daily  

FILE PHOTO: New China-built electric vehicles of the company Xpeng are seen parked in the port of Zeebrugge, Belgium, October 24, 2024. The move, which the EU described as an effort to maintain "fair competition", thinly veils an underlying attempt to curb China's ascendancy in the EV industry. China's EV ecosystem is not only vast, it is also driven by …

'Irreversible trend' will spur global EV sales
Trending News
1 month ago

'Irreversible trend' will spur global EV sales

China Daily  

SAIC Motor's IM brand showcases its electric SUV LS6 at the 2024 Auto Guangzhou on Nov 15. Smart e-mobility is the irreversible trend of the global automotive industry, with battery electric vehicles expected to account for at least 64 percent of total new car sales by 2040, according to a recent Roland Berger report. The report states the Western markets, …

'Irreversible trend' will spur global EV sales
Trending News
1 month ago

'Irreversible trend' will spur global EV sales

China Daily  

SAIC Motor's IM brand showcases its electric SUV LS6 at the 2024 Auto Guangzhou on Nov 15. Smart e-mobility is the irreversible trend of the global automotive industry, with battery electric vehicles expected to account for at least 64 percent of total new car sales by 2040, according to a recent Roland Berger report. The report states the Western markets, …

Sales of used electric cars reach record high
Trending News
1 month, 2 weeks ago

Sales of used electric cars reach record high

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Giving consumers the confidence to switch from their familiar petrol or diesel vehicles requires confidence and incentives …

EV Sales Soar to New Heights, But Still a Minority
1 month, 3 weeks ago

EV Sales Soar to New Heights, But Still a Minority

ABP News  

EV sales reach new heights in October, with passenger four wheelers seeing a significant increase. The month saw a total of 10,534 units sold, with EVs accounting for 73 percent of the total. MG Windsor emerged as the top-selling EV, with 3116 units sold, followed by Tata Motors' Curvv EV with 10,000 units sold. Luxury EV sales also saw a …

How electric car sales have slumped around the world
1 month, 3 weeks ago

How electric car sales have slumped around the world

Daily Mail  

Electric vehicles have been touted as an environmentally-friendly solution to the climate crisis, giving passengers a smooth, emissions-free ride. Meanwhile, Chinese car manufacturer BYD – the world's largest seller of electric vehicles – saw global EV sales crash earlier this year. Electric vehicles run on energy from a charged battery much like a smartphone but come with hefty pricetags – …

Chinese EV maker BYD’s revenue beats Tesla for first time
1 month, 3 weeks ago

Chinese EV maker BYD’s revenue beats Tesla for first time

CNN  

Beijing — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. With third-quarter revenue up 24% on year to 201.1 billion yuan, BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. BYD, whose cars …

Tesla suffers first drop in UK sales since 2013
2 months, 1 week ago

Tesla suffers first drop in UK sales since 2013

The Telegraph  

Tesla’s UK revenues have fallen for the first time in more than a decade as Elon Musk’s electric car company grapples with a slowdown in demand. The drop in sales brings the company’s recent momentum to a halt in the UK, where it has enjoyed constant sales growth since 2013. Mr Musk’s business is also facing questions about its ageing …

Tesla boosted by China sales, Shanghai plant
2 months, 3 weeks ago

Tesla boosted by China sales, Shanghai plant

China Daily  

Potential car buyers seen at a Tesla showroom in Shanghai. China is becoming a crucial market for Tesla, with the American electric-vehicle maker offering incentives to boost sales there and its Shanghai factory recently exporting its millionth vehicle. "China, which accounts for one-third of Tesla's sales, is a major growth driver," said Scott Acheychek, chief operating officer of REX Financial, …

Chinese carmakers sell fewest EVs in Europe since February 2023
2 months, 3 weeks ago

Chinese carmakers sell fewest EVs in Europe since February 2023

Hindustan Times  

Chinese manufacturers sold the fewest electric cars in 18 months to customers across Europe, with registrations falling by nearly half in August from a year earlier. MG, the British nameplate that’s now part of SAIC Motor Corp., lost its top spot across Europe to Chinese rival BYD Co., according to Jato Dynamics, which also tracks the automotive market. Uncertainty tied …

Chinese EV sales in Latin America zoom
3 months, 1 week ago

Chinese EV sales in Latin America zoom

China Daily  

Workers assemble a chassis at the BYD solar panel and electric bus chassis production facility in Campinas, Sao Paulo state, Brazil, in November. JONNE RORIZ/GETTY IMAGES Made-in-China electric vehicles are winning over car buyers across Latin America and reshaping views about Chinese products. The advanced technology and competitive pricing of Chinese vehicles — EVs as well as traditional cars — …

Chinese EV sales in Latin America zoom
3 months, 1 week ago

Chinese EV sales in Latin America zoom

China Daily  

By JIMENA ESTEBAN in Buenos Aires | China Daily Global | Updated: 2024-09-11 09:25 Workers assemble a chassis at the BYD solar panel and electric bus chassis production facility in Campinas, Sao Paulo state, Brazil, in November. JONNE RORIZ/GETTY IMAGES Made-in-China electric vehicles are winning over car buyers across Latin America and reshaping views about Chinese products. The advanced technology …

Chinese EV sales in Latin America zoom
3 months, 1 week ago

Chinese EV sales in Latin America zoom

China Daily  

Workers assemble a chassis at the BYD solar panel and electric bus chassis production facility in Campinas, Sao Paulo state, Brazil, in November. JONNE RORIZ/GETTY IMAGES Made-in-China electric vehicles are winning over car buyers across Latin America and reshaping views about Chinese products. The advanced technology and competitive pricing of Chinese vehicles — EVs as well as traditional cars — …

Glory days for automakers like Ford, General Motors in China are over
3 months, 2 weeks ago

Glory days for automakers like Ford, General Motors in China are over

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. The rapid rise of China’s homegrown electric vehicle makers, such as BYD and Xpeng, is upending the largest passenger car market on the planet and leaving the world’s biggest carmakers on the losing …

Chinese EV giant BYD posts 24.4% rise in profit
3 months, 3 weeks 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 …

Chinese electric cars will be dumped in Britain, experts warn
4 months, 1 week ago

Chinese electric cars will be dumped in Britain, experts warn

The Telegraph  

Chinese electric cars will be funnelled towards Britain as manufacturers seek to avoid punishing European Union tariffs, analysis predicts. However, the analysis said Chinese brands see Britain as a particularly attractive market for right-hand drive cars because of tough policies such as the zero emission vehicle mandate, which compels car makers to sell rising proportions of EVs. “The UK is …

Smart features drive up Chinese carmakers
4 months, 1 week 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 …

Discounts fail to help drive EV sales in US
4 months, 1 week ago

Discounts fail to help drive EV sales in US

China Daily  

Vehicles from Chinese brands wait to be exported from a port in Suzhou, Jiangsu province. In 2023, EV sales grew nearly 50 percent, according to data from Motor Intelligence, a vehicle sales data provider in the US. Consumer interest in buying EVs and hybrids is vastly different in China, where sales sped past internal-combustion-engine cars for the first time last …

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive
4 months, 1 week ago

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive

The Hindu  

In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in the country within …

Indians wanting their money back for undelivered Teslas shows how drastically the EV market changed
4 months, 1 week ago

Indians wanting their money back for undelivered Teslas shows how drastically the EV market changed

Associated Press  

HANOI, Vietnam — In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in …

New energy vehicles dominate delivery figures for first time
4 months, 1 week 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 …

Chinese EV maker eyes entry into Canada
4 months, 2 weeks ago

Chinese EV maker eyes entry into Canada

China Daily  

People visit the exhibition booth of BYD at an auto show in Xi'an, Northwest China's Shaanxi province, May 1, 2024. China's leading electric vehicle maker BYD could bring lower-priced cars to the Canadian market, but will have to consider several factors, including the prospect of higher tariffs, an auto industry expert said. Public documents filed in Ottawa in late July …

You can’t buy a Chinese EV in the United States. But they dominate in Southeast Asia
4 months, 2 weeks ago

You can’t buy a Chinese EV in the United States. But they dominate in Southeast Asia

LA Times  

Late last year Chinese automaker BYD surpassed Tesla as the world’s biggest seller of electric vehicles. It’s one of three EV models that BYD sells in Indonesia, the world’s fourth-most populous country — with more than 275 million people — and the largest car market in Southeast Asia. “Southeast Asia, specifically Thailand and Indonesia, is the beachhead, both as a …

Uber, China’s BYD, form partnership to deploy 100,000 EVs in EU and Latin America
4 months, 3 weeks ago

Uber, China’s BYD, form partnership to deploy 100,000 EVs in EU and Latin America

Associated Press  

BANGKOK — The ride sharing giant Uber and Chinese automaker BYD plan a partnership to introduce 100,000 BYD model EVs on the Uber platform in Europe and Latin America, eventually expanding to other markets, the companies announced. The arrangement would offer Uber drivers access to favorable pricing, insurance, financing and other services for BYD vehicles, the companies said in a …

Tariff hike fears drive Chinese EV sales
4 months, 3 weeks ago

Tariff hike fears drive Chinese EV sales

China Daily  

BYD's electric models attract visitors at a new energy auto expo in Beijing. The surge in Chinese electric vehicle sales across Europe in June was mainly driven by looming tariff threats, newly released data reveal. According to analytics company Dataforce, Chinese carmakers captured a record 11 percent of the European EV market in June. In early July, the EU announced …

Tariff hike fears drive Chinese EV sales
4 months, 3 weeks ago

Tariff hike fears drive Chinese EV sales

China Daily  

By JULIAN SHEA in London | China Daily Global | Updated: 2024-08-01 09:30 BYD's electric models attract visitors at a new energy auto expo in Beijing. The surge in Chinese electric vehicle sales across Europe in June was mainly driven by looming tariff threats, newly released data reveal. According to analytics company Dataforce, Chinese carmakers captured a record 11 percent …

Gas or electric? Splitting the difference could energize Chinese automakers
4 months, 3 weeks ago

Gas or electric? Splitting the difference could energize Chinese automakers

Live Mint  

Plug-in hybrids, which have both an internal combustion engine and an electric motor, are increasingly seen as the best of both worlds. Global PHEV sales grew 50% year over year in the first five months of 2024, according to Bernstein—far better than the 9% pace for pure electric vehicles. J.P. Morgan says they could account for 60% of new-energy vehicle …

Chinese vehicles made in EU keep costs edge
4 months, 3 weeks ago

Chinese vehicles made in EU keep costs edge

China Daily  

BYD's electric models attract visitors at a new energy auto expo in Beijing. Labor costs add around $500 per car if BYD's pure electric Seal sedan is made in Eastern Europe, UBS calculated in 2024. It helps that research dollars go far further in the Middle Kingdom: both Geely Auto and BYD launched multiple models in 2024, when they invested …

Tesla faces 45 per cent profit drop in Q2, Musk teases Robotaxi announcement in October
4 months, 4 weeks ago

Tesla faces 45 per cent profit drop in Q2, Musk teases Robotaxi announcement in October

India TV News  

Tesla, Elon Musk's electric automobile company has reported being in profit for the April-June period this year by USD 1.5 billion- which was down by 45 per cent from the same period in 2023. Total revenue was up 2 per cent at USD 25.5 billion, but automotive revenues were down 7 per cent to USD 19.9 billion, according to the …

EV: Keys for climate fight wins
5 months ago

EV: Keys for climate fight wins

China Daily  

WANG XIAOYING/CHINA DAILY Every summer is a reminder of the urgency of climate change. In 2023, the number had soared to 9.50 million, even though purchasing subsidies was started to be phased out from 2016 and completely done around 2022.The high penetration rate of new energy vehicles in China stems from its large production capacity and cost effectiveness, which functions …

Porsche scraps electric car targets as demand slumps
5 months ago

Porsche scraps electric car targets as demand slumps

The Telegraph  

Porsche has abandoned its sales targets for electric vehicles amid waning demand from customers. It comes after a slew of rival car companies watered down plans for electric models, cast doubt on customer enthusiasm for the technology and expressed support for low-carbon alternatives to petrol known as e-fuels. “Our product strategy is set up such that we could deliver over …

China's passenger car exports up 28% in June
5 months, 2 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, …

Rough road ahead for U.S. EVs despite upbeat quarterly sales
5 months, 2 weeks ago

Rough road ahead for U.S. EVs despite upbeat quarterly sales

The Hindu  

Better-than-expected U.S. electric-vehicle sales in the second quarter brought relief to investors after a sharp slowdown in demand triggered by high interest rates, but EV makers still face obstacles ahead. EV sales globally are expected to rise to 16.6 million vehicles annually, from 13.7 million in 2023, according to the International Energy Agency, with China’s growth outpacing other regions. Tesla …

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