For the first time, automotive companies in China surpassed their U.S. counterparts in car sales last year, driven by BYD and expansion in emerging markets, according to a data released Thursday 13th July 2024. Chinese brands such as BYD now at the forefront, reportedly sold 13.4 million new vehicles lastRead More →
In a significant development that may affect the electric vehicle (EV) market, the European Union (EU) has tentatively agreed to levy tariffs on Chinese EV manufacturers. This decision reportedly follows an inquiry into the surge of inexpensive, government-subsidized Chinese vehicles entering the EU market. From 4th July 2024, Chinese EVRead More →
This expansion occurs as the European Union investigates subsidies provided to Chinese electric vehicle manufacturers, a situation that may lead to the imposition of tariffs. In May 2024 Nio opened a new EV showroom in Amsterdam, while Xpeng introduced its G9 and G6 sports utility vehicles in France. Over theRead More →
Chinese automotive giant BYD has experienced a decline in profits amid a slowdown in electric vehicle (EV) demand and a price war in the largest car market globally. The company reported earnings of $630 million (£502 million) for the first quarter, a drop of over 47% from the previous quarter.Read More →
The EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off! Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices. Concerns have been raised that thisRead More →
Tesla recalled more than two million cars in December 2023 after the U.S. regulator found its driver assistance system, Autopilot, was partly defective, it was reported. It follows a two-year investigation into crashes which occurred when the tech was in use. The recall applies to almost every Tesla sold in the U.S.Read More →
Shares of Chinese electric vehicle manufacturers took a hit on Thursday 18th October 2023 after Tesla reported disappointing 3Q results on Wednesday 17th October 2023. It was the first time Tesla, co-founded by Elon Musk, missed on both earnings and revenue since Q2 2019. On Thursday morning, Hong Kong-listed shares of Chinese EV makers BYD and Xpeng fellRead More →