Author: Linda Ma

Tesla is facing backlash in China from hundreds of owners who protested outside delivery centers and showrooms after missing out on big price cuts. About 200 people who recently purchased Model Y and Model 3 cars reportedly gathered outside a Tesla delivery center in Shanghai on Saturday, demanding rebates because the cars now cost less than what they paid. This comes after Tesla cut prices in China for the second time in three months, as it struggles to make sales. The price cuts were intended to stoke demand for vehicles made at Tesla’s largest factory, but it has instead led…

Warren Buffett’s Berkshire Hathaway sold over 1 million additional BYD shares last week, continuing a trend of selling off the Chinese electric vehicle and battery maker’s stock that began in August 2022. According to the Hong Kong Stock Exchange, Berkshire Hathaway’s holdings in BYD were reduced from 14.95% to 13.97% as a result of the sale of 1,058,000 shares on January 3, which were sold at an average price of HK$191.44, earning the company approximately HK$200 million. This marks the third time that Berkshire Hathaway has sold BYD shares since September, following the sale of 1.33 million shares on September…

NIO is reportedly supporting a startup called Zhixing in creating high-end EVs for the ultra-luxury off-road market. Zhixing’s first vehicle will be an ultra-high-end SUV priced around $150,000, according to a report by LatePost. NIO’s CEO, William Li, has reportedly stated that the project is part of NIO’s strategic efforts in that market segment. NIO Capital, with Li as its managing partner, will reportedly provide a seed round investment of several million dollars to Zhixing. Zhixing plans to launch its first vehicle, an ultra-high-end SUV, in 2025. The vehicle will be available in overseas markets at the same time and…

Honda recall over 200,000 hybrid vehicles in China due to issues with brake pedal sensors in some models, according to the country’s State Administration for Market Regulation. The recall will include 105,608 hybrid vehicles produced between October 8, 2018 and September 7, 2020 by Honda’s joint venture with Dongfeng, as well as 95,081 units from Honda’s partnership with Guangzhou Automobile Group made between August 27, 2018 and August 6, 2020. The issue is related to lubricating oil that was introduced into the brake pedal sensors during the manufacturing process, which could cause problems with the sensors over time. The recall…

BYD, China’s leading manufacturer of new energy vehicles (NEVs), is expanding its capabilities by building its own testing facility in Nanning, Guangxi, southern China. The facility, which is set to become operational in June 2024, will be China’s most comprehensive NEV testing facility and will feature the world’s first anti-seasonal testing capabilities. The facility’s indoor laboratory will be able to simulate winter conditions and conduct endurance testing of vehicles, as well as testing of chassis systems and high voltage systems, in order to streamline vehicle development processes. The BYD testing facility project is expected to have a total area of…

Geely’s premium EV brand Zeekr achieved a record high in vehicle deliveries in December, with a total of 11,337 vehicles delivered. This marks an increase of 198.66% from the 3,796 vehicles delivered in December of the previous year, and a 2.96% increase from the 11,011 vehicles delivered in November. In the fourth quarter of the year, Zeekr delivered a total of 32,467 vehicles, representing a year-on-year increase of 440.49% and a quarter-on-quarter increase of 58.65%. Zeekr, Geely’s premium EV brand, announced that it met its goal of delivering 70,000 vehicles for the full year of 2022, with a total of…

According to a report by local media, Chinese smartphone manufacturer Xiaomi is reportedly in the process of developing two electric vehicles (EVs). The first EV, known as the Modena, is rumored to be a larger and more powerful version of Tesla’s Model 3 sedan, and is expected to be priced similarly to XPeng’s P7. There are reportedly two versions of the Modena being considered, with one starting at a price range of RMB 260,000 to RMB 300,000 ($38,000 to $43,600) and the other starting at RMB 350,000 ($51,600). The more affordable version of Xiaomi’s electric vehicle is expected to be…

According to the China Association of Automobile Manufacturers (CAAM), China’s vehicle export volume from January to November 2022 reached 2.785 million units, a year-over-year increase of 55.3%. The CEO of Chery Automobile, Yin Tongyue, predicted that China’s vehicle export volume will exceed three million units in 2022. The top destinations for China’s vehicle exports were the United States, Mexico, Russia, the United Kingdom, Belgium, Japan, Germany, South Korea, Australia, and the United Arab Emirates. The top ten Chinese manufacturers in terms of vehicle export volume were SAIC, Chery, Tesla China, Changan, Dongfeng, Geely, Great Wall, BAIC, JAC, and Sinotruk. SAIC…

In 2022, BYD achieved significant success in the new energy vehicle market in China, selling a total of 1,863,494 units. This included 946,239 plug-in hybrid “DM super hybrids” and 911,140 battery electric vehicles. One of the standout models in BYD’s battery electric vehicle lineup was the Atto 3, which was introduced in February of that year and saw 229,020 units sold by the end of the year. According to BYD, the Atto 3 is a front-wheel drive, C-segment SUV that boasts a modern design and advanced technology. It is powered by innovative electric vehicle technology and features smart connectivity. With…

BYD, a Chinese automaker, has unveiled its newest brand called YangWang and its first model, the U8, in China. The U8 is a fully electric, luxury off-road vehicle with a ladder-frame design and a quad motor layout for improved off-road capabilities. The exterior design of the U8 appears to be influenced by the Land Rover Defender, with unique features such as LED headlights that blend with the illuminated grille, boxy fenders, squared-off wheel arches, flush door handles, a hexagonal spare wheel cover on the tailgate, and split LED taillights. While there are no interior photos available, glimpses from the windows…

BYD has announced the construction of a new power battery production facility in Xuzhou, Jiangsu province, which is expected to have an investment of around $1.5 billion. The facility is set to begin contributing capacity by the end of the year, with a groundbreaking ceremony taking place on January 4. The first phase of the BYD power battery production facility in Xuzhou, Jiangsu province, which has an investment of around $750 million, is expected to begin partial operations in December 2023. The phase will cover an area of 470,670 square meters. After the Phase I project reaches production, it is…

On December 17, the Livan RL9 was introduced to the market in China with a base price of 109,900 yuan – 129,900 yuan ($15,750 – $18,600) after subsidies. This electric midsize SUV is built on the GBRC (Global Battery Rapid Change) Crystal platform and comes in four different trim options. The manufacturer of the Livan RL9 has stated that the vehicle comes with a 4-year/150,000 km warranty, while the battery pack has an 8-year/150,000 km warranty. Livan Auto is a joint venture between Geely and Lifan, founded in January 2022. The company specializes in battery-swapping technology and has a goal…