Author: Linda Ma

Lexus, the luxury arm of Japan’s Toyota Motor Corp, has acquired a major plot of land in Shanghai for RMB 1.353 billion ($185 million), paving the way for construction of its first wholly-owned electric vehicle (EV) manufacturing plant in China, according to the Shanghai Public Resources Trading Center. The site, located in the Jinshan district of southwestern Shanghai, spans approximately 1.13 million square meters and is designated for new energy vehicle (NEV) manufacturing, lithium-ion battery production, and other related battery technologies. The rights to use the land extend for 50 years, under terms set by the local Planning and Natural…

Chinese battery giant Contemporary Amperex Technology Co. Ltd (CATL) reported a 32.85% rise in first-quarter net income, supported by improved gross margins and steady revenue growth, despite a quarter-on-quarter decline in both metrics. Net profit for the January-March period reached RMB 13.96 billion ($1.9 billion), exceeding analyst expectations. While earnings rose sharply from the same period a year earlier, they fell 5.30% from the fourth quarter of 2024. Revenue stood at RMB 84.7 billion, up 6.18% year-on-year, but 17.74% lower than the previous quarter. See also: CATL in Talks to Acquire Controlling Stake in Nio Power Gross margin improved to…

Shanghai has broadened the scope of its car trade-in subsidies, allowing residents to use vehicles registered outside the city to qualify for incentives. The move is part of a wider strategy to boost automotive consumption and promote the transition to cleaner energy vehicles. The updated policy enables individual buyers to receive up to RMB 15,000 ($2,060) when purchasing a new electric vehicle priced at RMB 100,000 or more, provided they trade in an old vehicle registered elsewhere. See also: Shanghai and Hefei Introduce Battery Swap Station Subsidies, Benefiting Nio A subsidy of RMB 13,000 is available for those opting for…

Chinese authorities are delaying approvals for BYD and Geely to proceed with vehicle manufacturing plans in Latin America due to rising concerns over global trade tensions and potential technology transfer, two people familiar with the matter told Reuters. The projects, which include BYD’s potential electric vehicle (EV) plant in Mexico and Geely’s collaboration with Renault to produce low-emission vehicles in Brazil, have encountered slower-than-expected progress in regulatory reviews, the sources said. See also: China, EU Discuss Strengthening Trade Ties Amid U.S. Tariff Moves Chinese state planners reportedly warned automakers that such overseas investments could carry risks of technology leakage, particularly…

Retail sales of passenger new energy vehicles (NEVs) in China rebounded in March, reversing declines from the previous two months and pushing the segment’s retail penetration rate above 50% once again. Total NEV retail sales reached 991,000 units during the month, representing a 38% increase compared with the same period last year and a 45% rise from February, according to data from the China Passenger Car Association (CPCA). Battery electric vehicles (BEVs) accounted for 646,000 of those sales, marking a 50.6% year-on-year increase and a 51.2% jump from the previous month. BEVs contributed 65.2% of all NEV retail sales in…

Hesai  has secured an agreement with electric vehicle (EV) maker Leapmotor to supply 200,000 units of its ATX LiDAR sensors. The agreement, signed on April 7 at Leapmotor’s Hangzhou headquarters, designates Hesai as the exclusive LiDAR supplier for Leapmotor’s upcoming vehicle models starting in 2025.​ The ATX LiDAR, which began deliveries in the first quarter of this year, is built on Hesai’s fourth-generation chip architecture. It offers advantages such as compact size, extended range, and a wide field of view. Since its launch, the ATX has been selected for numerous models by 11 domestic and international automakers.​ See also: Hesai…

Chinese electric vehicle maker BYD has launched its premium brand Denza in Europe, aiming to strengthen its position in the regional market and challenge established luxury manufacturers such as BMW and Mercedes-Benz. The move was announced at Milan Design Week, where BYD said Denza would serve as the group’s technological pioneer, with new features debuting on Denza models before being introduced to BYD’s broader lineup. The brand, once a joint venture with Mercedes, is now fully owned by BYD and accounted for just over 3% of the company’s more than 4.2 million global vehicle sales last year — most of…

Chinese battery giant CATL is in discussions to purchase a controlling stake in Nio Power, the energy arm of electric vehicle maker Nio, according to four people familiar with the matter told Reuters. The talks follow CATL’s previously announced plan to invest up to RMB 2.5 billion yuan ($342 million) in Nio Power, as part of a broader partnership to expand battery swap infrastructure in China. The value of the proposed acquisition or the size of the controlling stake under discussion was not disclosed. However, one of the sources said that Nio Power had been valued at over RMB 10…

Hesai Technology, a lidar manufacturer based in China, has partnered with Baidu’s autonomous mobility unit Apollo Go to support the deployment of more than 1,000 Level 4 autonomous vehicles in Dubai. The project is part of an ongoing effort to expand autonomous driving services internationally. The Dubai deployment follows an exclusive agreement signed in July 2024, under which Hesai provides lidar systems for Apollo Go’s robotaxis. The companies said the initiative aims to demonstrate the application of autonomous driving technologies in urban settings beyond China. See also: Apollo Go and Autogo to Launch Autonomous Robotaxi Trials in Abu Dhabi “This…

China’s government is ramping up pressure on its sprawling state-owned auto sector to consolidate operations, aiming to streamline resources and better position the country in the global electric vehicle (EV) race. A potential merger between two of the country’s largest automakers, Dongfeng Motor Corp and Chongqing Changan Automobile, is under consideration, according to state officials and recent reports. See also: Rivian CEO: China’s EV Leadership Driven by Innovation, Market Expansion Speaking at an industry event in Beijing, a vice chairman of the State-owned Assets Supervision and Administration Commission (SASAC) called for automakers to restructure and collaborate more closely. The commission,…

Chinese electric vehicle manufacturer Xpeng has signed a distribution agreement with Bahrain’s largest automotive group, Ebrahim K. Kanoo, marking its official entry into the Bahraini market and furthering its ambition to expand across the Gulf region. The agreement, announced on Thursday, will see Xpeng launch its G6 and G9 SUVs, as well as the X9 MPV, in Bahrain in the second half of 2025. The company will leverage Kanoo’s established sales and service network, which commands nearly 40 percent of the Bahraini auto market, to deliver what it described as a “revolutionary smart mobility experience” to local consumers. See also:…

BYD has expanded its fleet of car carriers to six vessels as the Chinese new energy vehicle (NEV) maker intensifies efforts to boost its international presence. The latest addition, the BYD Xi’an, was officially launched on April 2, the company announced. Meanwhile, BYD said the BYD Shenzhen, the world’s largest car roll-on/roll-off (ro-ro) vessel, is preparing for its maiden voyage. The company did not disclose further details about the BYD Xi’an’s capacity but shared images of both vessels. See also: BYD Targets 5.5 Million Vehicle Sales in 2025, Aims for 92% Overseas Growth This marks the first time BYD has…

China will initiate pilot programs in nine cities to integrate electric vehicles (EVs) into the power grid, allowing them to store energy and feed it back during peak demand, the National Development and Reform Commission (NDRC) and the country’s energy regulator announced on Wednesday. The initiative aims to enhance the stability of the electricity grid as EV adoption rises, addressing concerns that growing demand could strain generation and transmission systems. See also: China’s EV Charging Piles to Reach 3.6 Million in 2024, Covering 70% of Global Total The majority of the 30 projects across cities, including Beijing, Shanghai, Shenzhen, and…

China’s BYD reported a rebound in new energy vehicle (NEV) sales in March as the country’s auto market emerged from the seasonal slowdown at the start of the year. The company sold 377,420 NEVs in March, marking a 24.78% increase from a year earlier and a 16.90% rise from February, according to data released Today. See also: BYD Teases New e7 Electric Sedan Amid Wave of Model Launches BYD ceased production and sales of internal combustion engine-only vehicles in March 2022 and has since focused on plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). Passenger NEV sales reached…

Li Auto  reported delivering 36,674 vehicles in March, marking a 26.53% increase from the same month last year and a 39.64% rise from February, according to data released today. This brings the company’s first-quarter deliveries to 92,864 vehicles, aligning closely with its earlier guidance range of 88,000 to 93,000 vehicles.​ See also: Li Auto to Open-Source Halo OS, Challenging Industry Standard AUTOSAR “Li Auto’s L series, a key contributor to the company’s rapid profitability and breakthrough of the RMB 100 billion revenue mark, is expected to achieve the milestone of delivering its 1 millionth vehicle soon,” the company stated.​ As…

Chinese new energy vehicle (NEV) manufacturer Leapmotor reported a significant rise in vehicle deliveries for March, with 37,095 units delivered, marking a 154.65% increase from the same period last year, the company said on Monday. First-quarter deliveries reached 87,552 units, up 162.05% year-on-year, as the company gained momentum following a traditionally slow start to the year. “The company’s C-series models have already achieved monthly sales of more than 40,000 units, and the future B-series models will be even higher,” Leapmotor said in a media interview after its latest model launch event. See also: Stellantis and Leapmotor Eye $200 Million Investment…

Chinese automaker Chery on Wednesday denied reports that it plans to invest $1 billion in an electric vehicle (EV) production facility in Turkey, contradicting an earlier announcement from the Turkish government. The Turkish presidency stated that Chery would establish a manufacturing plant in the Black Sea province of Samsun with an annual production capacity of 200,000 EVs. The announcement followed a video of Turkish President Tayyip Erdogan presenting a “certificate of appreciation” to Chery International President Guibing Zhang for the alleged investment. Bloomberg initially reported the news. See also: China’s Chery Files for Hong Kong IPO to Fund Expansion, R&D…

Nio  has commenced deliveries of its executive flagship sedan, the ET9, marking the introduction of its most expensive model to date. The inaugural vehicle was delivered to Fang Hongbo, chairman and CEO of Chinese home appliance giant Midea Group, in Foshan, Guangdong. Nio’s founder and CEO, William Li, personally handed over the vehicle.​ “I test drove it a few months ago and it impressed me,” Fang remarked, highlighting the vehicle’s spaciousness and intelligence. “Especially its sense of space, its cabin has a sense of a business jet, and it is also very intelligent.” See also: Nio Targets Fourth-Quarter Profitability, Expands…

Chinese electric vehicle maker Xpeng has delivered over 40,000 units of its P7+ electric sedan within four months of its launch, the company’s chairman and CEO, He Xiaopeng, said on social media. The milestone highlights strong demand for the mid-to-large-size sedan, with approximately one-third of buyers switching from gasoline-powered vehicles, He noted in a Weibo post. See also: Xpeng Plans at Least Five Extended-Range EV Models as Hybrid Market Expands  The latest figure suggests that Xpeng delivered 7,153 P7+ units so far this month, following cumulative deliveries of 32,847 at the end of February. Launched on November 7, 2024, the…

Nio has entered a strategic partnership with a state-owned enterprise backed by Beijing’s Changping district government to construct 100 battery swap stations, the electric vehicle (EV) maker said on Wednesday. Nio signed the agreement with Future Science City Group, which is majority-owned by the Changping District State-owned Assets Supervision and Administration Commission. The deal focuses on developing a green energy battery swap network, according to Nio co-founder and president Li Hong Qin. See also: Nio Plans Share Issuance to Raise Capital Amid Financial Pressures “Last week, we reached a strategic cooperation with CATL on battery swapping to build the world’s…