Author: Linda Ma

CATL, the Chinese battery manufacturer, has announced ambitious plans to enter the fast-charging station business, with the goal of building “the world’s largest fast-charging network” in China. The company aims to achieve this by constructing 10,000 super-fast charging stations in 100 Chinese cities by the end of next year, marking a significant expansion into the electric vehicle (EV) charging infrastructure sector. To realize this vision, CATL has partnered with Star Charge, a leading Chinese charging network operator, to collaborate on research and development, co-branding of high-performance charging stations, and the development of a comprehensive charging network. The partnership aims to…

Nio has commenced deliveries of its 2024 ET7 electric sedan, which went on sale on April 25, coinciding with the first day of the Beijing auto show. Nio announced today on Weibo that deliveries of the 2024 ET7 Executive Edition to the first customers began on April 30. The company also stated that during the upcoming Labor Day holiday, the ET7 will be available for test drives. The Labor Day holiday in China is scheduled for May 1-5 this year, with May 11 designated as an extra workday, albeit a Saturday. The 2024 ET7, launched with a starting price identical…

Chinese tech giant Xiaomi’s venture into the electric vehicle (EV) market with its SU7 model is off to an impressive start, with 7,058 units delivered in April alone. Since its launch on April 3, the company has seen substantial interest, with 88,063 locked-in orders recorded by April 30. A notable aspect of this interest is the diverse customer base. Xiaomi EV reported that 28 percent of the locked-in order holders are female, 29 percent have previously owned BMW, Mercedes-Benz, or Audi models, and 52.5 percent are Apple users. To meet this demand, Xiaomi is ramping up production. The company is…

Li Auto has announced that cumulative orders for its Li L6 extended-range electric vehicle (EREV) have exceeded 20,000 units, just 12 days after the vehicle’s launch. The company also revealed that over 2,000 units of the Li L6 have been delivered in the past six days, with delivery centers set to remain open during the upcoming Labor Day holiday in China (May 1-5, 2024). To meet the high demand, Li Auto stated that it will ramp up production capacity to ensure that more customers receive their Li L6 as early as possible. The Li L6, which officially launched on April…

Chinese new energy vehicle (NEV) maker BYD has reported a significant drop in net profit for the first quarter of 2024 compared to the previous quarter, as vehicle sales declined during the traditionally slow season. According to BYD’s financial report released today, the company recorded revenue of RMB 124.94 billion ($17.25 billion) in the first quarter, marking a 3.97 percent year-on-year increase but a 30.6 percent decrease from the fourth quarter of 2023. BYD’s net profit for the first quarter was RMB 4.57 billion, showing a 10.62 percent year-on-year increase but a substantial 47.33 percent drop from the fourth quarter…

China’s state-run newspaper, the People’s Daily, has pushed back against claims of overcapacity in the country’s new energy products, asserting that increased exports of electric vehicles, lithium batteries, and photovoltaic products reflect market demand and China’s comparative advantages in the industry. According to the People’s Daily, China’s new energy industry has provided high-quality production capacity that has enriched global supply, eased global inflationary pressures, and promoted the global green and low-carbon transition. The article argues that such high-quality production capacity is not surplus but rather insufficient on a global scale, with the world needing more of it. The article calls…

Xiaomi EV has reached a significant milestone as its 10,000th mass-produced SU7 rolled off the production line, just 32 days after the model’s launch. Announcing the achievement on Weibo, Xiaomi EV expressed its commitment to expanding production capacity, with a target of delivering 100,000 units by the end of 2024. “We believe that one day, there will be Xiaomi cars riding on every road around the world!” the company shared on the platform. The SU7, officially launched on March 28, offers three versions—standard, Pro, and Max—with starting prices ranging from RMB 215,900 ($29,800) to RMB 299,900. Xiaomi also introduced a…

Tesla has reportedly partnered with Chinese internet giant Baidu for mapping and navigation services, a move aimed at overcoming obstacles for the release of its Full Self-Driving (FSD) system in China. The partnership is seen as a strategic step for Tesla to enhance its presence in the Chinese market, which is becoming increasingly competitive. The partnership news emerged during Elon Musk’s unannounced trip to Beijing, where he met with several government officials, including Premier Li Qiang and China Council for the Promotion of International Trade (CCPIT) Chairman Ron Hongbin. Musk was accompanied by key Tesla executives, including Tom Zhu, SVP,…

Stelato, the new brand collaboration between tech giant Huawei and BAIC BluePark, the electric vehicle (EV) arm of Beijing Automotive Group (BAIC Group), has debuted its inaugural model, the Stelato S9. This executive sedan marks Huawei’s significant entry into the EV market and was unveiled at the 2024 Beijing auto show, which commenced today. The Stelato S9 boasts a spacious cabin with 3,460 mm of usable space, rivaling luxury models like the Mercedes-Benz S-Class, BMW 7-Series, and Audi A8L. Equipped with digital rear mirrors and 21-inch multi-spoke wheels, the Stelato S9 represents another flagship model supported by Huawei, following the…

Chinese automakers are bucking the trend of undercutting international markets with low-priced electric vehicles (EVs). Instead, a recent report reveals they are significantly hiking prices on exported models to maximize profits abroad, led by the strategy of industry giant BYD. Facing intense competition in their home market and squeezed profits due to a domestic EV price war fueled by government subsidies, BYD and other Chinese automakers are finding new opportunities overseas. The strategy is clear: sell vehicles at nearly three times the price compared to the domestic market, yet still undercut Western competitors. According to Reuters’ report, BYD’s export prices…

CATL has unveiled its latest innovation, the Shenxing Plus LFP battery, at Auto China in Beijing, designed to provide electric vehicles (EVs) with a range exceeding 1,000 kilometres. This new battery, built with durable lithium iron phosphate cells, is also touted for its quick charging capabilities. The original Shenxing battery was introduced by CATL just last August with a projected range of 700 kilometres. However, the company has now achieved a significant breakthrough, with the Shenxing Plus offering a range of over 1,000 kilometres. CATL attributes this advancement to continuous technological progress. Gao Huan, Chief Technology Officer of CATL’s electric…

Chinese electric vehicle (EV) manufacturer XPeng is evaluating the possibility of investing in plants or suppliers abroad, citing an ongoing European investigation into Chinese-made EVs and regulatory alterations that could lead to higher tariffs. The European Commission initiated an investigation in October to determine whether Chinese-made EVs benefit unfairly from state subsidies, a move that China has criticized as protectionist. Brian Gu, co-president of XPeng, stated at the Beijing autoshow that the company currently exports small quantities of its EVs. However, the changing regulatory landscape in the European Union may prompt a reevaluation of its strategy. Gu emphasized that XPeng…